Adjusted earnings from engineering and construction this year will be $1.30 to $1.60 a share, compared with a previous outlook of $1.50 to $1.70, Montreal-based SNC said Thursday in a statement. Third-quarter results will include “unfavourable cost and revenue reforecasts” on the two projects, which SNC didn’t identify. The cut will also increase concern over whether the company can meet its 2017 outlook, he said. SNC continues to aim for adjusted earnings before interest, taxes, depreciation and amortization of 7 per cent of revenue next year. SNC had gained 34 per cent this year through Wednesday, exceeding the 13 per cent gain of Canada’s benchmark S&P/TSX Composite Index.

Source: thestar September 29, 2016 16:18 UTC