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Thursday, March 1, 2018

=Babcock & Wilcox (BW) reported earnings on Thur 1 March 2018 (a/h)

Babcock & Wilcox Enterprises misses by $0.89, misses on revs; guides FY18 revs above consensus 
  • Reports Q4 (Dec) loss of $0.95 per share, excluding non-recurring items, $0.89 worse thanthe Capital IQ Consensus of ($0.06); revenues rose 7.4% year/year to $408.1 mln vs the $432.71 mln Capital IQ Consensus.
  • Co issues in-line guidance for FY18, sees FY18 revs of $1.5-1.7 bln vs. $1.56 bln Capital IQ Consensus Estimate.
  • "Our progress toward completion of the Renewable projects and ongoing initiatives to improve our global cost structure and business mix positions us well for improved financial results in 2018 and beyond," said Leslie Kass, President and Chief Executive Officer. "We are making substantial progress on the construction of the U.K. Renewable new-build loss projects. Three of the projects are on track to be construction complete in first half 2018, with two of the projects currently in start-up commissioning phases, and despite incremental delays at one project resulting from the steel beam issue identified in late September 2017, construction is expected to be complete by the end of the year. While these delays increased our estimated costs to complete the projects, we expect to be able to offset some of these costs through agreements with our customers for bonus opportunities and liquidated damage relief in 2018."

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