Babcock & Wilcox reports Q2 EPS (10c), consensus (7c)

Reports Q2 revenue $305.2M, consensus $241.63M. “Our strong second quarter results were highlighted by consolidated revenue and adjusted EBITDA that exceeded Company expectations and an underlying improvement in revenue, adjusted EBITDA and net loss on a year-over-year basis. This reflects the continued progress against our strategic growth initiatives and positions us to achieve our full-year adjusted EBITDA targets,” said Kenneth Young, B&W’s Chairman and Chief Executive Officer. “We are making significant investments in renewable energy technologies to support future growth. We continue to convert our global pipeline into project opportunities and demonstrated another quarter of top-line improvement on a year-over-year and sequential basis. Our growth remains broad based as we posted a second consecutive quarter of double-digit revenue expansion on a year-over-year basis across all segments, highlighted by our Thermal and Renewable segments increasing 36% and 31% respectively.”