Stuart Olson Inc. Announces Consolidated Earnings Results for the First Quarter Ended March 31, 2017; Provides Earnings Guidance for 2017
The company expects 2017 consolidated revenue to be meaningfully higher than in 2016 based on the outlook for its three business groups. On a consolidated basis, adjusted EBITDA is expected to be modestly higher than the restated 2016 results, primarily reflecting the anticipated absence of 2016's wildfire impacts, together with the benefits of savings realized from the 2016 restructuring initiatives. Adjusted EBITDA margin is expected to decline slightly as a result of investments in organic growth initiatives and an increase in incentive plan accruals associated with the expected improvement in consolidated financial results.