Foster Wheeler Q3 Profit Slips; Backs FY Earnings View - Quick Facts

(RTTNews) - Engineering and construction contractor Foster Wheeler AG (FWLT) reported a drop in third-quarter income from continuing operations to $48.9 million, or $0.50 per share, from $58.7 million, or $0.55 per share, in the 2012 period.

Profit from continuing operations in both the periods was impacted by net asbestos-related provisions, the company added. Excluding these items, quarterly adjusted income from continuing operations was $50.9 million, or $0.52 per share. On average, 16 analysts polled by Thomson Reuters expected earnings per share of $0.43 for the quarter. Analysts' estimates typically exclude one-time items.

Operating revenues for the tri-monthly period were $801.83 million, versus the prior year's $797.3 million, while 14 analysts estimated revenues of $891.61 million.

The company said its full-year 2013 guidance is unchanged for earnings per share, expecting adjusted earnings per share from continuing operations to be down sequentially in the fourth quarter of this year but still moderately above $1.54 for the year.