Aegion Corporation Reports 2019 Fourth Quarter and Full Year Financial Results

Achieved FY’19 adjusted earnings targets set at the start of the year; Projecting strong top- and bottom-line growth in 2020

St Louis, MO (STL.News) Aegion Corporation (NASDAQ: AEGN) reported the following:

  • Q4’19 loss per diluted share was $0.47 compared to a loss per diluted share of $0.08 in Q4’18. Q4’19 adjusted (non-GAAP)1 earnings per diluted share were $0.39 compared to $0.27 in Q4’18, an increase of 44%.
  • FY’19 loss per diluted share was $0.67 compared to earnings per diluted share of $0.09 in FY’18. FY’19 adjusted (non-GAAP)1 earnings per diluted share were $1.21 compared to $1.19 in FY’18, a modest increase despite the lack of large project contributions that benefited prior year results.
  • Full-year operating cash flows of $79 million nearly doubled the prior year, enabling continued investment in $29 million of capital expenditures, $35 million of debt paydown and $30 million of share repurchases.
  • Management targeting adjusted earnings per share of $1.30 to $1.50 in 2020.  Consolidated revenues are expected to increase 1 to 3%, or an increase of 6 to 8% when excluding exited or to-be-exited businesses.

Aegion combines innovative technologies with market-leading expertise to maintain, rehabilitate and strengthen infrastructure around the world.  For nearly 50 years, the Company has played a pioneering role in finding innovative solutions to rehabilitate aging infrastructure, primarily pipelines in the wastewater, water, energy, mining and refining industries.  Aegion also maintains the efficient operation of refineries and other industrial facilities.  Aegion is committed to Stronger.  Safer.  Infrastructure.®

NOTE: this is NOT the complete release.