Babcock & Wilcox Co. (BWC) Misses Q2 EPS by 5c; Guides Lower

Babcock & Wilcox Co. (NYSE: BWC) reported Q2 EPS of $0.44, $0.05 worse than the analyst estimate of $0.49. Revenue for the quarter came in at $686 million versus the consensus estimate of $766.5 million.

Babcock & Wilcox Co. sees FY2014 EPS of $1.70-$1.85, versus prior guidance of $2-$2.2 and the consensus of $2.12. Babcock & Wilcox Co. sees FY2014 revenue of $2.9-3.0 billion, versus prior guidance of $2.9-3.1 billion and the consensus of $2.95 billion.

“Our Nuclear Operations segment continues to produce strong and steady operating performance. In addition, we delivered significantly improved bookings this quarter in our Power Generation segment, particularly in international and renewables projects, which has been an area of strategic focus. Looking forward, we have a number of solid opportunities in the pipeline and expect to be able to announce additional major contract awards in the coming months. Our success in the international marketplace together with completion of the MEGTEC acquisition are important elements of Power Generation’s strategy to expand geographically and provide diversification from our historic reliance on the U.S. coal market,” said E. James Ferland, President and Chief Executive Officer. “Further, as promised, mPower development spending has been reduced to an annual rate of $15 million giving us the ability to develop the core technology while continuing to pursue strategic investors.”

For earnings history and earnings-related data on Babcock & Wilcox Co. (BWC) click here.

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