The effects of the second quarter of 2020 exceeded expectations; Strong position in the market and strength of the portfolio challenges in the short term
St. LOUIS, 29 July 2020 (GLOBE NEWSWIRE) –
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1 Adjusted effects (not GAAP) exclude the consolidated expenses applicable with the Company’s restructuring activities, acquisition and disposition costs, capital gains and impairment of intangible assets with indefinite life, impairment of assets held for sale, provisions for loan guarantees, credit facility modification fees and their influence from the Tax reduction and Employment Act. The matching of the adjusted effects is listed below.
“Our ability to exceed expectations for functionality during the quarter in a context of unprecedented market position disruptions demonstrates the prudence of our efforts to redesign Aegidirectly to generate profit stability and coin flow generation across all market position cycles. Our scale, unmatched, succeeds in North America The market position and our focus on maintaining and restoring critical infrastructure remain key differentiators in controlling COVID outages.
While short-term outlok remains volatile, primarily in our strength business, our long-term basics are solid, backed by significant exposure to North America’s most robust and resilient municipal water and wastewater markets, where we’ve seen years of expansion to date. Our balance sheet is in good shape and we are in a good position to emerge more powerful from this era of disunity.
Charles R. Gordon, President and CEO
Net income (loss) and diluted earnings (loss) per share includes non-controlling interest
(1) Q2’20 non-GAAP pre-tax adjustments:
(2) Non-GAAP tax changes for the time one quarter of 2019:
(1) Includes non-GAAP similar to:
(2) Includes non-GAAP similar to:
Aegion combines cutting-edge technologies with the most advanced expertise to maintain, rehabilitate and strengthen infrastructure infrastructure around the world. For his most virtuous friend of the last 50 years, the Compabig apple has pioneered the search for cutting-edge responses to rehabilitate aging infrastructure, mainly pipelines in the wastewater, water, energy, mining and refining industries. Aegion also operates refineries and other advertising services efficiently. Aegion symptoms are stronger. Safer Infralayout.® For additional information about Aegion, visit www.aegion.com.
Forward-looking statements
The Private Securities Litigation Reform Act of 199, five materials constitutes a “safe harbor” for forward-looking statements. Aegion’s forward-looking statements in this press release constitute Aegion’s ideals or expectations regarding long-term parties or economic restructuring. These forward-looking statements are based on late dissatisfaction for Aegion and management’s ideals, assumptions, stipulaters or assignments, and do not look like promises of parties or long-term effects. When used in this document, the words “anticipate,” “estimate,” “believe,” “plan,” “intend,” “could,” “want, ” and similar expressions” are intended to detect direct search statements but do not appear as exclusive means of identifying such statements. These statements refer to known and unknown hazards, uncertainties and assumptions, adding those mentioned in the “Risk Factors” segment of the Aegion Annual Report on Form 10-K for the year ended December 31, 2019, archived in the Securities and Exposure Assignment on March 2, 2020, and in the forthcoming filings , and in particular the influence of the COVID virus outbreak and the evolving reaction to the dangers of the Company and others described in the case. In light of these dangers, uncertainties and assumptions, prospective investigations may not be conducted. In addition, the genuine effects of Aegion may differ from best friends from those expected, estimated, advised or assigned. Unless required by law, Aegion does not undertake to mandatoryly update forward-looking statements, whether new entries, long-term parties or otherwise. However, investors should review the additional information provided through Aegion, either from time to time, in Aegion’s filings with the Securities and Exhibition Command. Be careful and don’t have forward-looking statements. All forward-looking statements made through Aegion in this press release are qualified through such warnings.
Information under the influence of the law on tax cuts and employment is made up of forward-looking classes that would change. The Compabig apple anticipates that additional guidance can be obtained, either at the federal and state level, by 2020. As such, the influences of the law may differ from our current stipulaters, interpretations and assumptions, perhaplaystation significantly and the volume of therefore, the influence on the Compabig apple could be adjusted during 2020.
Aegion provided bound data in this press release, bound parts that revel in affected revenue, expenses, and earnings consistently with a consistent percentage. Adjusted earnings, consistent with a consistent percentage for the quarters and six months ended June 30, 2020 and 201, exclude expenses applicable with the Company’s restructuring activities, acquisition and disposal costs, capital gains and impairment of indeterminate intangible assets, impairment of assets held for sale, allocation in progress provisions, the price of terminating the credit facility and the effects of the Tax Reduction and Employment Act.
The Aegion control uses this non-GAAP data intercomgroup friend to evaluate the economic functionality of Aegion’s operations, as the Aegion control believes that this non-GAAP data allows for greater control, as it prefers to compare Aegion’s ongoing functionality over the periods. As such, Aegion’s control believes it is favorable to produce non-GAAP economic information to Aegion investors, as it allows them to evaluate Aegion’s functionality using the technique and similar data used through Aegion’s control.
Aegion® and stronger. Safer Infrastructure.® and applicable logos are registered with Aegion Corporation and its subsidiaries.
CONTACT: Aegion Corporation Dav F. Morris, Executive Vice President and Chief Financial Officer (636) 530-8000