Aegion (AEGN) Misses Q2 EPS by 1c

After the close, Aegion (NASDAQ: AEGN) reported Q2 EPS of $0.34, $0.01 worse than the analyst estimate of $0.35. Revenue for the quarter came in at $322.9 million, versus $328.73 million reported last year.

Highlights:

• Second quarter 2014 non-GAAP diluted earnings per share from continuing operations were $0.34. On an as-reported GAAP basis, diluted earnings per share in the second quarter of 2014 were $0.33.
• Energy and Mining non-GAAP operating income increased 2.7 percent over the prior year quarter to $8.3 million aided by the Brinderson acquisition on July 1, 2013.
• Water and Wastewater operating income increased 40.0 percent over the prior year quarter to $12.7 million. Operating margins increased 200 basis points to 9.8 percent.
• Commercial and Structural generated a slight profit in the quarter, a significant improvement from the first quarter of 2014.
• Consolidated backlog as of June 30, 2014, compared to a year ago and excluding Brinderson, increased 13.9 percent to $581.1 million primarily due to a 19.6 percent increase for Water and Wastewater and a 11.6 percent increase for Energy and Mining. Brinderson’s backlog as of June 30, 2014 was $248.1 million, a 23.4 percent increase since the acquisition on July 1, 2013. Aegion’s total backlog was $829 million, an all-time record

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

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