Stuart Olson Inc. Reports Consolidated Financial Results for the First Quarter Ended March 31, 2019; Provides Consolidated Contract Revenue Guidance for the Full Year 2019
As compared to fiscal 2018, the company expects 2019 consolidated contract revenue to be meaningfully higher. The Company's consolidated outlook has changed from its December 31, 2018 MD&A, primarily as a result of lower-than-expected award wins for its Industrial Group as a result of competitive market conditions and the continued near-term impacts on capital spending by its integrated oil sands customers as a result of the mandatory Alberta oil production curtailment policy.