Babcock & Wilcox Q2 Profit Declines; Cuts Guidance - Quick Facts

(RTTNews) - The Babcock & Wilcox Company (BWC) reported that its second-quarter net income to company decreased to $26.44 million from $72.87 million, a year ago. Earnings per share were $0.24 compared to $0.65, prior year. Adjusted earnings per share were $0.44, for the quarter.

On average, 12 analysts polled by Thomson Reuters expected the company to report profit per share of $0.49 for the quarter. Analysts' estimates typically exclude special items.

Consolidated revenues were $686.01 million, compared to $886.14 million, prior year. Analysts expected revenue of $762.23 million for the quarter.

The company narrowed its guidance for 2014 consolidated revenues to between $2.9 billion and $3.0 billion from the previous range of $2.9 billion to $3.1 billion. The company narrowed its guidance for adjusted earnings per share for the full year 2014 to between $1.70 and $1.85 from the previous range of $2.00 and $2.20. Analysts expect the company to report 2014 earnings per share of $2.12 on revenue of $2.95 billion.