Aegion (AEGN) Misses Q3 EPS by 3c

Aegion (NASDAQ: AEGN) reported Q3 EPS of $0.32, $0.03 worse than the analyst estimate of $0.35. Revenue for the quarter came in at $308.52 million versus the consensus estimate of $318.99 million.

“We continue to expect strong performance in the fourth quarter of 2016, resulting in expected second half adjusted earnings per share largely in line with our results from the same period in 2015.

“The initial outlook for 2017 indicates favorable conditions in our core markets for North American municipal pipe rehabilitation, midstream pipeline cathodic protection services and U.S. West Coast refinery maintenance, as well as our expectation to successfully complete the large deepwater pipe coating and insulation project. The projected strength of these markets combined with expected increased stability in the upstream oil and gas market provide a solid foundation for achieving progress towards the financial targets we outlined in our long term strategy.”

For earnings history and earnings-related data on Aegion (AEGN) click here.

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