Babcock & Wilcox Profit Tops Estimates

(RTTNews) - Babcock & Wilcox Co (BWC) on Wednesday reported first-quarter net earnings of $45.26 million or $0.42 per share compared with $45 million or $0.41 per share last year.

Excluding restructuring costs and other one-time items, adjusted earnings for the quarter were $0.47 per share compared with $0.42 per share a year ago.

Revenues for the quarter rose 10.4% to $730.6 million from $662 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.43 per share on revenues of $705.3 million for the quarter. Analysts' estimates typically exclude special items.

Revenue growth was led by the power generation segment, while nuclear operations segment saw a drop even as its margins improved.

Babcock & Wilcox operates as a clean energy technology company, as well as an advanced technology and mission critical defense contractor.