Babcock & Wilcox (BW) Reports Q4 Loss of $0.95, Miss on Revenues; Offers FY18 Revenue Guidance Above Consensus

Note: EPS may not be comparable

Babcock & Wilcox (NYSE: BW) reported Q4 EPS of ($0.95), versus ($0.06) reported last year. Revenue for the quarter came in at $408.1 million versus the consensus estimate of $431.85 million.

• GAAP earnings per share in fourth quarter 2017 were a loss of $2.44 compared to a loss per share of $1.47 in fourth quarter 2016.
• Included in the fourth quarter 2017 GAAP loss was a $62.4 million charge, or $1.42 per share, for the revaluation of deferred tax assets as the result of tax reform under the Tax Cuts and Jobs Act (TCJA).
• Adjusted earnings per share were a loss of $0.95 for the three months ended December 31, 2017 compared to an adjusted loss per share of $1.48 in the prior year period.
• Adjusted EBITDA was $(17.0) million compared to $(55.3) million in the prior year period.

Introducing 2018 Outlook

On a consolidated basis, the Company is providing 2018 guidance as follows:

• Revenue in the range of $1.5 billion to $1.7 billion
• Adjusted EBITDA to be in the range of $75 million to $95 million(1)

GUIDANCE:

Babcock & Wilcox sees FY2018 revenue of $1.5-1.7 million, versus the consensus of $1.56 million.

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

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