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SNC-Lavalin Group Inc (SNC.TO)

SNC.TO on Toronto Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Canada's Conservative leader calls for criminal investigation into Trudeau after ethics breach
Wednesday, 14 Aug 2019 

Aug 14 (Reuters) - Conservative Party of Canada leader Andrew Scheer says::LIBERAL PRIME MINISTER JUSTIN TRUDEAU'S ETHICS BREACH WARRANTS A CRIMINAL INVESTIGATION BY POLICE.ETHICS BREACH BY PRIME MINISTER TRUDEAU IS "UNFORGIVABLE".  Full Article

SNC-Lavalin To Proceed With Closing Of Sale Of 10.01% Stake Of Highway 407 ETR
Wednesday, 7 Aug 2019 

Aug 7 (Reuters) - SNC-Lavalin Group Inc ::SNC-LAVALIN TO PROCEED WITH CLOSING OF SALE OF 10.01% STAKE OF HIGHWAY 407 ETR.SNC-LAVALIN GROUP INC - PROCEEDING WITH CLOSING SALE OF STAKE FOLLOWING DISMISSAL BY ONTARIO SUPERIOR COURT OF APPLICATION BY CINTRA GLOBAL S.E..SNC-LAVALIN - COURT AGREED WITH SNC-LAVALIN, CPPIB THAT CINTRA HAD WAIVED, THROUGH AN AGREEMENT WITH SNC-LAVALIN IN 2002, ITS RIGHT OF FIRST REFUSAL.SNC-LAVALIN GROUP INC - SNC-LAVALIN CURRENTLY EXPECTS CLOSING OF SALE WITH CPPIB TO OCCUR WITHIN MONTH..  Full Article

Snc-Lavalin Reports Second Quarter Results For 2019
Thursday, 1 Aug 2019 

Aug 1 (Reuters) - SNC-Lavalin Group Inc ::SNC-LAVALIN REPORTS SECOND QUARTER RESULTS FOR 2019.Q2 LOSS PER SHARE C$12.07.Q2 EARNINGS PER SHARE ESTIMATE C$-1.18 -- REFINITIV IBES DATA.NET LOSS IN Q2 OF 2019 INCLUDED A $1.7 BILLION NON-CASH AFTER-TAX GOODWILL IMPAIRMENT CHARGE.REDUCING QUARTERLY DIVIDEND FROM $0.10 PER SHARE TO $0.02 PER SHARE.COMPANY REMAINS ON TARGET TO REALIZE OVER $100 MILLION IN COST SAVINGS BY YEAR-END 2019.REMAINS ON TARGET IN ACHIEVING AN ANNUAL RUN-RATE OF $250 MILLION IN COST SAVINGS IN 2020..RECOMMENDED CO TAKES PRUDENT ACTIONS TO STRENGTHEN CASH POSITION AND BALANCE SHEET; THIS INCLUDES REDUCING DIVIDEND.COMPANY'S BACKLOG TOTALED $15.7 BILLION AS AT JUNE 30, 2019, COMPARED TO $15.2 BILLION AT END OF JUNE 2018.QTRLY REVENUE C$2.28 BILLION VERSUS C$2.53 BILLION.Q2 REVENUE VIEW C$2.45 BILLION -- REFINITIV IBES DATA.SNC-LAVALIN GROUP - REORGANIZED INTO TWO BUSINESS LINES; SNCL ENGINEERING SERVICES, HIGH-PERFORMING AND GROWTH AREAS OF BUSINESS, AND SNCL PROJECTS.AS OF JUNE 30, 2019, COMPANY HAD $580.6 MILLION OF CASH AND CASH EQUIVALENTS.  Full Article

SNC-Lavalin Gives An Update On Federal Charges
Wednesday, 29 May 2019 

May 29 (Reuters) - SNC-Lavalin ::UPDATE ON THE FEDERAL CHARGES.SNC-LAVALIN GROUP INC - EACH ENTITY HAS BEEN CHARGED WITH ONE COUNT OF FRAUD AND ONE COUNT OF CORRUPTION.SNC-LAVALIN GROUP INC - MAINTAINS IT WILL PLEAD NOT GUILTY TO CHARGES.SNC-LAVALIN- CO WAS INFORMED THAT AFTER CONCLUSION OF PRELIM. INQUIRY ON CHARGES LAID BY CANADA THAT CHARGED ENTITIES WERE COMMITTED TO TRIAL.SNC-LAVALIN- CHARGED ENTITIES COMMITTED TO TRIAL IN RELATION WITH PRELIM INQUIRY ON FEDERAL CHARGES LAID BY PUBLIC PROSECUTION SERVICE OF CANADA.SNC-LAVALIN GROUP INC - ANALYZING DECISION WITH COUNSEL.  Full Article

ADM Awards Construction Management Contract To Pomerleau, Snc-Lavalin And Kiewit
Wednesday, 15 May 2019 

May 15 (Reuters) - SNC-Lavalin Group Inc ::ADM AWARDS CONSTRUCTION MANAGEMENT CONTRACT TO POMERLEAU, SNC-LAVALIN AND KIEWIT.AÉROPORTS DE MONTRÉAL - UNDER INITIAL FIVE-YEAR CONTRACT, PSK WILL ACT AS A PARTNER AND KEY COLLABORATOR THROUGHOUT EXECUTION OF WORK..  Full Article

Snc-Lavalin Group Says Will Return To Positive Cash Flow By Second Half Of The Yr- Exec, Conf Call
Thursday, 2 May 2019 

May 2 (Reuters) - SNC-Lavalin Group Inc ::WILL BE FOCUSING ON CORE MARKETS (CANADA, THE U.S., THE U.K., THE MIDDLE EAST, HONG KONG (AS A HUB TO ASIA) AND AUSTRALIA - EXEC, CONF CALL.SEES C$125 MILLION CASH IMPACT FOR THE YEAR AS A RESULT OF COST CUTS - EXEC, CONF CALL.WILL RETURN TO POSITIVE CASH FLOW BY SECOND HALF OF THE YEAR- EXEC, CONF CALL.REGARDING COURT PROCEEDING, END OF MAY IS THE KEY DATE FOR DECISION OR FURTHER DELAY- EXEC, CONF CALL.REVENUES COMING FROM THE 15 COUNTRIES CO IS EXITING WAS ABOUT C$85 MILLION- EXEC, CONF CALL (CORRECTS TYPO).  Full Article

Snc-Lavalin Group Reports Q1 Loss Per Share Of C$0.10
Thursday, 2 May 2019 

May 2 (Reuters) - SNC-Lavalin Group Inc ::SNC-LAVALIN REPORTS FIRST QUARTER RESULTS FOR 2019.Q1 ADJUSTED EARNINGS PER SHARE C$0.21.Q1 EARNINGS PER SHARE ESTIMATE C$0.33 -- REFINITIV IBES DATA.Q1 LOSS PER SHARE C$0.10.Q1 REVENUE C$2.29 BILLION VERSUS REFINITIV IBES ESTIMATE OF C$2.3 BILLION."REMAIN CONFIDENT THAT WE CAN DELIVER OUR 2019 OUTLOOK".2019 OUTLOOK MAINTAINED.BACKLOG OF $15.8 BILLION AT END OF MARCH 2019.BOOKINGS OF $3.2 BILLION IN Q1 2019.E&C REVENUE FOR Q1 ENDED MARCH 31, 2019 TOTALED $2.29 BILLION, COMPARED WITH $2.37 BILLION.GIVEN CHALLENGES FACED IN Q1 2019, CO EXPECTS A VERY MODEST RECOVERY IN ITS ADJUSTED DILUTED EPS FROM E&C FOR Q2 2019.SNC-LAVALIN - "WE WILL BE FOCUSING ON OUR CORE GEOGRAPHIES AND ARE REMOVING UNPROFITABLE REVENUES ACROSS 15 COUNTRIES WHERE WE HAVE SUB-SCALE OPERATIONS".  Full Article

Snc-Lavalin Reaches Agreement To Sell 10.01 Pct Stake Of Highway 407 Etr To Omers For Up To $3.25 Bln
Friday, 5 Apr 2019 

April 5 (Reuters) - SNC-Lavalin Group Inc ::PRESS RELEASE - SNC-LAVALIN REACHES AN AGREEMENT TO SELL 10.01% STAKE OF HIGHWAY 407 ETR TO OMERS FOR UP TO $3.25 BILLION.SNC-LAVALIN GROUP INC - NET PROCEEDS FROM TRANSACTION WILL BE USED FOR PAYMENT OF APPROXIMATELY $600 MILLION UNDER CDPQ LOAN AGREEMENT.SNC-LAVALIN GROUP INC - SNC-LAVALIN WILL RETAIN A 6.76% OWNERSHIP OF HIGHWAY 407 ETR.SNC-LAVALIN GROUP INC - $3.0 BILLION PAYABLE AT CLOSING DATE AND $250 MILLION OVER A PERIOD OF 10 YEARS.SNC-LAVALIN GROUP INC - NET PROCEEDS FROM DEAL WILL ALSO BE USED FOR EXECUTION OF COMPANY'S DELEVERAGING PLANS.SNC-LAVALIN GROUP INC - SALE IS SUBJECT TO CERTAIN SHAREHOLDERS' RIGHTS, INCLUDING RIGHTS-OF-FIRST REFUSAL.SNC-LAVALIN GROUP INC - COMPANY AND CDPQ HAVE RE-NEGOTIATED TERMS OF $1 BILLION CDPQ LOAN AGREEMENT ENTERED INTO 2017.SNC-LAVALIN GROUP INC - DEAL IS EXPECTED TO BE COMPLETED WITHIN APPROXIMATELY TWO MONTHS.  Full Article

Canadian Prime Minister will speak to media on Tuesday about minister's resignation
Tuesday, 12 Feb 2019 

Feb 12 (Reuters) - SNC-Lavalin Group Inc ::CANADIAN PRIME MINISTER JUSTIN TRUDEAU LEARNED OF MINISTER'S RESIGNATION MONDAY NIGHT, WILL SPEAK TO MEDIA LATER ON TUESDAY - STATEMENT FROM TRUDEAU'S OFFICE.  Full Article

Snc-Lavalin announces lower than anticipated q4 results impacting full year 2018
Monday, 28 Jan 2019 

Jan 28 (Reuters) - SNC-Lavalin Group Inc ::SNC-LAVALIN ANNOUNCES LOWER THAN ANTICIPATED Q4 RESULTS IMPACTING FULL YEAR 2018.FULL YEAR 2018 RESULTS WILL BE LOWER THAN EXPECTED.SNC-LAVALIN GROUP - OIL & GAS SEGMENT EBIT WILL BE LOWER IN 2018 THAN COMPANY EXPECTED."EXPERIENCING WORSE THAN EXPECTED TRADING CHALLENGES IN OIL & GAS IN MIDDLE EAST, AND SAUDI ARABIA IN PARTICULAR".SEES 2018 ADJUSTED CONSOLIDATED DILUTED EPS TO BE IN RANGE OF $2.15 TO $2.30.FY2018 EARNINGS PER SHARE VIEW C$2.68 -- REFINITIV IBES DATA.SNC-LAVALIN GROUP - WILL BE TAKING NON-CASH AFTER-TAX GOODWILL IMPAIRMENT CHARGE OF ABOUT $1.24 BILLION, OR $7.06 PER DILUTED SHARE."WE WILL TAKE A MORE CAUTIOUS VIEW TOWARDS OUR 2019 PROSPECTS TO REFLECT THESE UNCERTAINTIES".SNC-LAVALIN - BUSINESS CONTINUES TO FACE SEVERAL WELL-DOCUMENTED MACRO CHALLENGES, SOME CO-SPECIFIC HEADWINDS, WHICH ARE IMPACTING ABILITY TO GROW.SNC-LAVALIN - INTER-GOVERNMENTAL RELATIONS BETWEEN CANADA-SAUDI ARABIA, WITH UNPREDICTABLE COMMODITY PRICES, OTHERS, LED TO DETERIORATION IN NEAR-TERM PROSPECTS.SNC-LAVALIN - IMPAIRMENT TESTS INDICATE THAT FAIR VALUE OF OIL & GAS SEGMENT IS LOWER THAN CARRYING VALUE IN FINANCIAL STATEMENTS.SNC-LAVALIN GROUP - "SERIOUS PROBLEM HAS JUST COME TO LIGHT IN RELATION TO A SINGLE PROJECT IN MINING & METALLURGY SEGMENT".SNC-LAVALIN - RELATING TO MINING & METALLURGY SEGMENT, THE PROJECT' YEAR-END UNDER-PERFORMANCE RELATIVE TO INTERNAL BUDGETS TO MATERIALLY AFFECT Q4 RESULTS.  Full Article

PRESS DIGEST- Canada- Aug 20

Aug 20 The following are the top stories from select Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.