(Reuters) - Shares of Churchill Corp CUQ.TO fell 7 percent after the construction company forecast lower-than-expected full-year earnings before interest, taxes, depreciation and amortization (EBITDA).
The company on Wednesday said it expects full-year 2012 EBITDA to be between C$37 million and C$42 million, compared with analysts’ expectation of C$49.3 million, according to Thomson Reuters I/B/E/S.
Churchill Corp, however, said third-quarter results are expected to be profitable.
The company also said it slashed its corporate workforce by a fifth last month.
Shares of Churchill Corp, which has a market value of C$213.6 million, were down 5 percent at C$8.32 in early-morning trade on Thursday on the Toronto Stock Exchange.
Reporting by Shounak Dasgupta in Bangalore