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Williams Industrial Q2 Result Tops Consensus, Notes Weak Margins

Williams Industrial Services Group Inc (NYSE:WLMS) reported second-quarter revenue growth of 26.2% year-over-year to $91.6 million, beating the consensus of $83.18…
byAkanksha
August 18, 2021
1 minute read
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  • Williams Industrial Services Group Inc (NYSE:WLMS) reported second-quarter revenue growth of 26.2% year-over-year to $91.6 million, beating the consensus of $83.18 million.
  • EPS improved to $0.11 from $0.10 in 2Q20, beating the consensus of $0.10.
  • The gross margin contracted by 270 bps to 10.2%.
  • The operating income decreased to $2.7 million from $3.77 million last year, and the margin contracted by 220 bps to 3%.
  • Adjusted EBITDA decreased by 2% Y/Y to $4.88 million, and margin contracted by 155 bps to 5.3%.
  • Williams Industrial’s cash used in operating activities year-to-date reduced to $1.4 million, compared to $9.39 million a year ago. 
  • At the end of the quarter, the company’s backlog was $664.4 million, up 44.2% from $460.6 million as of March 31, 2021.
  • FY21 Outlook: Williams Industrial reaffirmed revenue outlook of $310 million – $320 million vs. consensus of $310.75 million.
  • Guidance for the gross margin of 11% – 13%, and Adjusted EBITDA of $16 million – $18 million is unchanged.
  • Price Action: WLMS shares are trading lower by 0.88% at $4.52 on the last check Wednesday.
 
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