Emeco provided earnings guidance for the fiscal 2016. The company announced that worsening conditions in the oilsands industry resulting from the sustained lower oil price have significantly reduced the winter work programs in Canada. These weakening conditions have lowered outlook for the remainder of the financial year.

With greater visibility the fiscal 2016 operating EBITDA guidance for the group is between $53 million and $57 million, representing approximately 22% to 30% growth on the prior year.