Aegion Corp. (AEGN) said Wednesday that it expects first quarter earnings to be in the range of $0.04 to $0.08 per share, below previous expectations as a result of project delays associated with adverse weather conditions in the quarter as well as customer directed delays for several scheduled contracts for the Energy & Mining and Commercial & Structural platforms.
However, the transitional issues impacting the first quarter do not alter the company's full year expectations for earnings in the range of $1.60 to $1.80 per share, Aegion said.
Analysts polled by Thomson Reuters currently expect the company to earn $0.22 per share for the first quarter and $1.68 per share for the full year 2013.The company noted that severe weather during the entire quarter affected parts of Canada as well as the Midwest and Eastern United States resulting in delays for contracting and manufacturing activities associated with the North America Water & Wastewater business and in completing projects for the Commercial & Structural platform.
Several domestic and international contracts for Energy & Mining and Commercial & Structural expected to begin or be completed by the end of March have now been pushed further into the calendar year, the company added.
The company said a contributing factor for the lower than anticipated earnings in the quarter was an unexpected slowdown in the pace of pipeline construction by the prime contractor for the Tite Liner project in Morocco during the month of March.
In the Canadian Oil Sands, soft ground conditions have delayed overall pipeline construction activity impacting the schedule in the first quarter for Bayou's pipe coating projects.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.