BRIEF-SNC-Lavalin updates outlook for full year 2016 results

Thu Sep 29, 2016 8:08am EDT
 
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Sept 29 (Reuters) - SNC-Lavalin Group Inc :

* Lavalin updates outlook for full year 2016 results

* Lavalin - just established, and expects to be recording in q3, unfavorable cost and revenue reforecasts on two oil & gas projects in middle east

* Lavalin group inc - discussions are ongoing to attempt to resolve commercial issues in middle east contracts

* Lavalin Group Inc - outlook for other segments remains largely unchanged with infrastructure segment trending to be slightly better than expected

* Lavalin Group Inc - updating its 2016 outlook from an adjusted earnings per share from e&c of $1.50 to $1.70 to an adjusted earnings per share from e&c of $1.30 to $1.60.

* Lavalin Group Inc - Q4 is expected to return to a more normal run rate

* Lavalin Group Inc - continues to target an annualized adjusted e&c EBITDA margin of 7% in 2017 Source text for Eikon: Further company coverage: