Babcock & Wilcox Adj. EPS Tops Estimates

(RTTNews) - Babcock & Wilcox Co (BWC) on Wednesday reported fourth-quarter net loss of $103.3 million or $0.97 per share compared with a profit of $165.6 million or $1.48 per share last year.

Excluding items, adjusted earnings for the quarter were $0.64 per share compared with $0.52 per share a year ago.

Revenues for the quarter were $837 million compared with $802.8 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.44 per share on revenues of $771.54 million for the quarter. Analysts' estimates typically exclude special items.

Total expenses for the quarter climbed to $999.6 million from $523.8 million a year ago.

The company said that in light of the planned spin-off of the power generation business in mid-year, it would not be insightful to provide earnings guidance for 2015. It noted that about 60% of annual earnings are expected to be realized in the third and fourth quarters.

Babcock & Wilcox Company provides clean energy technology for the nuclear, fossil and renewable power markets and is also an advanced technology and mission critical defense contractor.