Aegion Corporation (AEGN - Free Report) reported third-quarter 2017 adjusted earnings of 32 cents per share, in line with the year-ago quarter. However, earnings beat the Zacks Consensus Estimate of 26 cents. Continued momentum across key markets for all three segments translated to strong orders and revenues in the quarter. However, this was offset by the impact of restructuring activity in the Infrastructure Solutions segment.
Including one-time items such as after-tax charges for restructuring and divestiture activities along with impairment of intangibles, Aegion reported loss of $2.23 per share in the quarter compared with earnings per share of 34 cents recorded in the prior-year quarter.
Total revenues of $342 million in the quarter increased 11% year over year. Revenues fell short of the Zacks Consensus Estimate of $336 million.
Adjusted cost of sales increased 11% to $268 million from $242 million in the year-ago quarter. Adjusted gross profit improved 11% to $73.4 million from $66.4 million in the prior-year quarter. Adjusted gross margin remained flat at 21.5%.
Aegion Corp Price, Consensus and EPS Surprise