Babcock $ Wilcox Enterprises Inc (BW)

[eFinanceMarkets]

$BW Babcock & Wilcox (NYSE:BW) -17.9% premarket after its Q4 loss of $0.95/share comes in far below analyst consensus of a $0.06/share loss, and revenues also missed estimates despite rising 7.4% Y/Y.

BW says Q4 revenues for the Power segment fell 5% Y/Y to $209M, mainly due to lower activities on new-build utility and environmental projects and lower sales of industrial steam generation systems.

BW provides FY 2018 adjusted EBITDA guidance of $75M-$95M, and sees FY 2018 sales $1.5B-$1.7B vs. $1.56B consensus.

The company also says it entered into another amendment to its first-lien revolving credit facility and received a commitment letter to backstop a $182M rights offering of common stock, priced at $3/share.