Babcock & Wilcox (NYSE: BW) reported Q2 EPS of ($2.56), which may not compare to the analyst estimate of $0.06. Revenue for the quarter came in at $349.8 million versus the consensus estimate of $434.34 million.

"Our second quarter financial results reflect a $115.2 million charge arising from unexpected cost and schedule issues in the Renewable segment,” said E. James Ferland, Chairman and Chief Executive Officer. “We have revamped our go-forward business model for this segment and have also entered into new financing arrangements. These arrangements provide us the financial flexibility to focus on completing our U.K. Renewable projects while executing our three prong business strategy to optimize our Power business, pursue profitable growth under our new execution model in Renewable, and grow our Industrial segment"

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