Willbros Group Earnings: Everything You Must Know Now

Willbros Group Inc. (NYSE:WG) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.

Willbros Group Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased to $0.02 in the quarter versus EPS of $-0.08 in the year-earlier quarter.

Revenue: Decreased 2.27% to $487.86 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Willbros Group Inc. reported adjusted EPS income of $0.02 per share. By that measure, the company beat the mean analyst estimate of $-0.08. It missed the average revenue estimate of $503.04 million.

Quoting Management: Randy Harl, President and Chief Executive Officer, commented, “We are pleased with the strong operating results generated by our Utility T&D and Professional Services segments, and another consecutive quarter of solid performance in Canada. However, I am disappointed with the performance of our regional service lines in the Oil & Gas segment which negatively impacted our results again this quarter. We have taken actions to resolve the root causes of these issues in the first half of this year and results in the regions for the month of June were breakeven as the loss projects are essentially completed. I expect material improvement from these operations for the remainder of the year.”

Key Stats (on next page)…

Revenue increased 0.1% from $487.36 million in the previous quarter. EPS increased to $0.02 in the quarter versus EPS of $-0.24 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.20 to a profit $0.14. For the current year, the average estimate has moved down from a profit of $0.26 to a loss of $0.04 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)