Welcome to our dedicated page for Aegion news (Ticker: AEGN), a resource for investors and traders seeking the latest updates and insights on Aegion stock.
Aegion Corporation (AEGN) delivers essential infrastructure rehabilitation technologies for global water, energy, and industrial systems. This news hub provides investors and industry professionals with critical updates on strategic acquisitions, operational developments, and technological innovations driving the company's mission of "Stronger. Safer. Infrastructure.®"
Access authoritative reporting on Aegion's trenchless pipeline solutions, expansion initiatives, and financial performance. Our curated news collection features updates across key areas: strategic acquisitions enhancing regional service capabilities, infrastructure rehabilitation projects, technology deployments in CIPP and grouting systems, and leadership developments shaping corporate strategy.
Bookmark this page for real-time updates on Aegion's progress in maintaining critical water networks and energy pipelines. Monitor how recent service expansions in key North American markets align with global infrastructure demands. Verify all information through Aegion's official communications at a href='https://www.aegion.com' rel='nofollow'>aegion.com.
Aegion Corporation (NASDAQ: AEGN) announced that its subsidiary, Insituform Technologies, has secured a wastewater rehabilitation contract worth over $4 million from Baltimore County, Maryland. The project involves rehabilitating 78,000 linear feet of sanitary sewer mains using trenchless technology, which minimizes disruptions and costs. Additionally, 25% of the work will support local, minority-owned businesses. This contract marks Insituform's third consecutive large-scale project in Baltimore County, with work expected to commence this fall and conclude by the end of 2021.
Aegion reported Q2 2020 earnings of $0.12 per diluted share, a recovery from a loss of $0.27 per share in Q2 2019. Revenues were $245 million, reflecting challenges due to COVID-19 but driven by growth in the Insituform North America segment. Contract backlog grew 4% year-over-year to $669 million, ensuring future cash flow stability. Operating cash flows surged to $60 million, allowing for substantial debt reduction. The company anticipates Q3 2020 adjusted EPS between $0.25 and $0.35.
Aegion Corporation (NASDAQ: AEGN) is scheduled to release its second quarter 2020 financial results after market close on July 29, 2020. Following this, CEO Charles R. Gordon will host a conference call on July 30, 2020, at 9:30 a.m. Eastern Time to discuss the company's performance and outlook, including a Q&A session. The call will be available via a webcast, and replay options will be provided on Aegion's website. Aegion focuses on innovative technologies for infrastructure maintenance and rehabilitation across various industries.
Aegion Corporation (NASDAQ: AEGN) announced a new wastewater rehabilitation contract valued at $11.9 million from the City of Springfield, Missouri. Insituform Technologies USA, a subsidiary of Aegion, will rehabilitate approximately 550,000 linear feet of sanitary sewer main using trenchless technology. This project aims to minimize costs and community disruptions. Since 2011, Insituform has secured over $30 million in contracts from Springfield. The project is expected to commence in early fall 2020 and conclude by late 2022.
Aegion Corporation (NASDAQ: AEGN) announced its subsidiary, Insituform Technologies, LLC, has secured a $6 million sewer rehabilitation contract in East Richland County, South Carolina. The project involves rehabilitating over 8,900 linear feet of sewer pipelines using advanced cured-in-place (CIPP) technology. Additional project tasks include manhole rehabilitation and erosion control. This contract is notable for its value, marking one of the highest bids for large-diameter pipeline rehabilitation in recent South Carolina history, and is set to commence this summer, completing by late 2020.
Aegion Corporation (NASDAQ: AEGN) announced a $6 million contract award to its subsidiary, Insituform Technologies, for wastewater system rehabilitation in Newton, Massachusetts. The project includes 70,000 linear feet of cured-in-place pipe (CIPP) lining and other trenchless services. Insituform has been contracted for similar work in Newton since 2007, totaling over $12 million since 2017. This project is expected to be completed by June 2021.
Aegion Corporation (NASDAQ: AEGN) announced that its President and CEO, Charles R. Gordon, will participate in a fireside chat at the Stifel 2020 Virtual Cross Sector Insight Conference on June 10, 2020, at 2:00 p.m. Eastern Time. The discussion will be available via a live webcast on Aegion's website. Additionally, Gordon and Executive Vice President and CFO, David F. Morris, will hold virtual meetings with institutional investors during the conference. Aegion specializes in innovative solutions for infrastructure rehabilitation across various industries.
Aegion Corporation (NASDAQ: AEGN) announced that its subsidiary, Brinderson L.P., has been awarded a contract for onsite mechanical and electrical services at ExxonMobil's Billings, Montana refinery. This contract includes daily maintenance and small capital projects, expected to transition in the first half of 2020. Brinderson will utilize proprietary performance tools to enhance efficiency and deliver customer savings. CEO Charles R. Gordon highlighted this as a crucial step in the company's geographic expansion strategy in the Rocky Mountain region, following a similar recent contract in Salt Lake City.
