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Engility Issues FY 2016 Guidance Below Wall Street Forecasts

Engility-logoEngility Holdings (NYSE: EGL) — one of 30 companies listed on Executive Mosaic’s GovCon Index — issued its fiscal year 2016 earnings and revenue guidance Thursday below the consensus Wall Street analyst estimates for both figures.

The Chantilly, Virginia-based government services contractor said it sees earnings of between $1.00 and $1.15 per share versus the $2.43 consensus Wall Street forecast and revenue in the $2 billion-$2.15 billion range against the $2.26 billion analyst estimate.

Lower levels of in-theater work and run-off from legacy contracts factored into Engility’s 2016 outlook and the company expects to see organic growth from 2017 and onward.

For its current 2015 fiscal year, Engility held to guidance of earnings between $2.05 and $2.35 per share with revenue in a range of $2.05 billion-to-$2.1 billion.

The company has not scheduled its fiscal year 2015 earnings release as of this article’s publication.

As of 11:45 Eastern time Thursday, shares in Engility were down 41.87 percent to $16.83 on an intraday basis and the company’s stock had fallen 58.7 percent over 52 weeks.

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