Aegion slashes guidance

Aegion (AEGN) revises its FY13 outlook to reflect "actual results" from last month and an updated forecast for December.

FY13 non-GAAP EPS now seen at $1.27-1.32 down from previous guidance of $1.53-1.60. Consensus is $1.42.

Q4 non-GAAP EPS now seen at $0.40-0.45. Consensus in $0.58.

"Commercial and Structurals North American business continued to struggle to build momentum in the U.S. during October and November," the company says, blaming a "a stall in sales activity," "project performance issues from inadequate cost estimation," and "certain delays in the setup of new projects in hand," among other factors. (PR)

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