WSP Global again misses expectations as 2019 capped by weaker fourth quarter

MONTREAL — WSP Global Inc. missed expectations as it capped 2019 with a weaker fourth quarter than in the previous year.

The Montreal-based engineering consultant says its net income attributable to shareholders was $40.5 million for the period ended Dec. 31, down from $43.3 million a year earlier.

article continues below

Excluding one-time items, adjusted profits fell 4.2 per cent to $56.6 million or 53 cents per diluted share, compared with $59.1 million or 57 cents per share in the prior year.

Net revenues grew 14.3 per cent to $1.76 billion.

WSP was expected to earn 86 cents per share in adjusted profits on $1.77 billion of revenues, according to financial markets data firm Refinitiv.

For the full year, its net income increased to $286.5 million from $248.1 million. Adjusted profits rose 10.7 per cent to $326.7 million or $3.10 per share, up from $295.2 million or $2.83 per share in 2018.

Revenues increased to $6.89 billion from $6 billion.

Analysts had expected adjusted earnings of $3.44 per share on $6.9 billion of revenues.

This report by The Canadian Press was first published Feb. 26, 2020.

Companies in this story: (TSX:WSP).

© Copyright Alaska Highway News
Sign Up for our Newsletter!

Popular News

Lowest Gas Prices in Chetwynd, Dawson Creek, Fort Nelson, Fort St John, Tumbler Ridge
British Columbia Gas Prices provided by GasBuddy.com

Community Event Calendar


Find out what's happening in your community and submit your own local events.