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Babcock & Wilcox -18% after posting larger than expected Q4 loss

Published 03/02/2018, 08:59 AM
© Reuters.  Babcock & Wilcox -18% after posting larger than expected Q4 loss
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  • Babcock & Wilcox (NYSE:BW) -17.9% premarket after its Q4 loss of $0.95/share comes in far below analyst consensus of a $0.06/share loss, and revenues also missed estimates despite rising 7.4% Y/Y.
  • BW says Q4 revenues for the Power segment fell 5% Y/Y to $209M, mainly due to lower activities on new-build utility and environmental projects and lower sales of industrial steam generation systems.
  • BW provides FY 2018 adjusted EBITDA guidance of $75M-$95M, and sees FY 2018 sales $1.5B-$1.7B vs. $1.56B consensus.
  • The company also says it entered into another amendment to its first-lien revolving credit facility and received a commitment letter to backstop a $182M rights offering of common stock, priced at $3/share.
  • Now read: Babcock & Wilcox Enterprises, Inc. 2017 Q4 - Results - Earnings Call Slides


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