Babcock & Wilcox (NYSE: BW) stock, the Akron, Ohio-based manufacturer of steam boilers and hydrogen gas production equipment, exploded (in a good way) Monday morning, soaring 24.9% through 11 a.m.
ET despite badly missing analyst earnings forecasts for Q1
The earnings miss was the bad news. The good news is that Babcock handily beat sales forecasts. Heading into the report, analysts expected Babcock to report a $0.04 per share pro forma loss on quarterly sales of $157.2 million.
In fact, the company lost $0.60 per share — but its sales were a strong $214.4 million. Babcock & Wilcox Q1 earnings Babcock’s sales leapt 44% higher year over year. Operating costs rose to match, also up 44%, leaving the company with only a small operating loss for the quarter, and basically unchanged year over year.