November 02, 2012 - 9:45 AM
MONTREAL - SNC-Lavalin Group Inc. (TSX:SNC) saw its third-quarter profit fall from the same time last year but earnings came in well ahead of the consensus estimate.
Net income at the Montreal-based construction and engineering company dropped to $114.9 million or 76 cents per diluted share.
That was down from $127.6 million or 82 cents per share in the third quarter of 2011.
Its revenue increased, however, to $1.98 billion from $1.78 billion.
The revenue was in line with expectations but SNC's profit didn't dip as much as anticipated.
Analyst estimates compiled by Thomson Reuters were for SNC to have 64 or 65 cents per share of earnings, depending on adjustments.
News from © The Canadian Press, 2012