SNC-Lavalin Group reports first-quarter profit and revenue up from year ago
By The Canadian Press on May 9, 2023.
MONTREAL – SNC-Lavalin Group Inc. reported its first-quarter profit rose compared with a year ago as its revenue also climbed higher. The engineering firm says its profit attributable to shareholders totalled $28.4 million or 16 cents per diluted share for the quarter ended March 31. The result was up from a profit of $24.8 million or 14 per diluted share a year earlier. Revenue totalled $2.02 billion, up from $1.89 billion in the first three months of 2022. The increase came as the company’s revenue from professional services and project management rose to $2.01 billion compared with $1.87 billion a year earlier. Revenue from its capital business totalled $16.3 million, down from $16.4 million. On an adjusted basis, the company says its profit from professional services and project management amounted to 32 cents per diluted share, up from an adjusted profit of 22 cents per diluted share in the first quarter of 2022. This report by The Canadian Press was first published May 9, 2023. Companies in this story: (TSX:SNC) 9-8
