Churchill Corp estimates surprise loss

Mon Jul 23, 2012 9:02am EDT
 
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(Reuters) - Construction company Churchill Corp CUQ.TO said it expected to report a second-quarter loss, rather than the profit most analysts were expecting, because of rain delays at its Calgary Airport runway project and a housing project in Saskatoon.

The Canadian company estimated its net loss at between C$4.0 million and C$4.4 million for April-June. It estimated revenue of between C$292 million and C$298 million.

Analysts were expecting second-quarter earnings of C$4.50 million on revenue of C$355.5 million, according to Thomson Reuters I/B/E/S.

(Reporting by Ankur Banerjee in Bangalore; Editing by Don Sebastian)