SNC Lavalin beats earnings expectations as engineering services in hot demand in U.S. - constructconnect.com - Daily Commercial News

  • 📰 DCN_Canada
  • ⏱ Reading Time:
  • 41 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 74%

Colombia Noticias Noticias

Colombia Últimas Noticias,Colombia Titulares

.SNCLavalin raised its financial forecast for the year on the heels of healthy organic revenue growth, as the company chipped away at a costly backlog of big, over-budget rail contracts.

Economic, US NewsMONTREAL — SNC-Lavalin Group Inc. raised its financial forecast for the year on the heels of healthy organic revenue growth, as the company chipped away at a costly backlog of big, over-budget rail contracts.

SNC hit organic revenue growth “out of the park,” said Desjardins analyst Benoit Poirier in a note to investors. Edwards pointed to the massive funding injection from the U.S. government via the Infrastructure Investment and Jobs Act and the Inflation Reduction Act. He also cited “key wins this quarter” related to electric vehicle battery plants.

SNC knocked another $96 million off its LSTK backlog from three months earlier, reducing it to a still hefty $422 million – but down from $828 million a year prior. “Testing and commissioning on our two Ontario projects is proceeding as scheduled. Our last project, REM, continues to progress well, with the South Shore portion having successfully opened on July 31,” said Edwards – though the inauguration was marred by three disruptions.

Hemos resumido esta noticia para que puedas leerla rápidamente. Si estás interesado en la noticia, puedes leer el texto completo aquí. Leer más:

 /  🏆 17. in CO
 

Gracias por tu comentario. Tu comentario será publicado después de ser revisado.

Colombia Últimas Noticias, Colombia Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Feds finance 60 rental units in Kitchener - constructconnect.com - Daily Commercial NewsThe federal government has announced funding towards construction of 60 purpose-built rental homes in Kitchener, Ont. The homes will be supported through a repayable low-interest loan of $16 million via the federal Rental Construction Financing Initiative.
Fuente: DCN_Canada - 🏆 17. / 74 Leer más »

Avison Young CEO sees 'nothing but opportunity' ahead as commercial real estate market bottomsAvison Young CEO Mark Rose talks about the trouble with price discovery, the future of cities and why the worst may be behind us. Read on.
Fuente: nationalpost - 🏆 10. / 80 Leer más »

Avison Young CEO sees 'nothing but opportunity' ahead as commercial real estate market bottomsAvison Young CEO Mark Rose talks about the trouble with price discovery, the future of cities and why the worst may be behind us. Read on.
Fuente: financialpost - 🏆 7. / 85 Leer más »