Aegion Q2 Earnings Rise 4.4% Over Q1, Drop 30% Year-Over-Year

August 18, 2015

Aegion Corp. reported a net income of $8.7 million for the second quarter compared with $12.8 million for the same quarter last year, a 29.9 percent decrease the company attributed to restructuring costs.

The company’s total second-quarter revenue rose 4.4 percent to $337.1 million from last year’s quarter.

Aegion’s Infrastructure Solutions platform is benefiting from increased expenditures for municipal wastewater pipeline rehabilitation in the United States, revenue and profit growth from Fyfe/Fibrwrap, the 2014 restructuring and realignment of the international segment and improved project execution across the platform. Backlog at June 30, 2015 was $362.9 million, a slight decrease over the prior year period, including the negative effect of currency translation. However, excluding backlog for the restructured international markets where Insituform is exiting contract installation operations, backlog increased 1.9 percent compared to June 30, 2014. Contract backlog for Insituform North America was at a record level with solid orders during the second quarter.

Aegion’s Energy Services subsidiary grew revenue 12.8 percent to $82 million in the recent quarter on the strength of the West Coast refining downstream segment. That strength offset a revenue decline in the Central California upstream market, which was directly impacted by lower oil prices, company officials said.