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Engility Warns Of Potential $250 Million Charge In Fourth Quarter

Cal Biesecker By
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Engility Warns Of Potential $250 Million Charge In Fourth Quarter
Engility President and CEO Tony Smeraglinolo. Photo: Engility

Due to declines in its legacy defense business, government services provider Engility Corp. [EGL] on Thursday said it expects to take upward of a $250 million hit to earnings in its fourth quarter that ended on Dec. 31.The non-cash goodwill impairment charge will be between $125 million and $250 million and is due to the end of programs and scope reductions in its defense business and associated tax impact of the charge, Engility said. Excluding the charge, per share earnings…

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