WLMS - Williams Industrial Services Group GAAP EPS of -$0.01 beats by $0.25 revenue of $103.5M beats by $27M

2023-05-17 16:41:00 ET

• Williams Industrial Services Group press release ( NYSE: WLMS ): Q1 GAAP EPS of -$0.01 beats by $0.25 .
• Revenue of $103.5M (+48.8% Y/Y) beats by $27M .
• Adjusted EBITDA for the Company was $3.3 million for the first quarter of 2023 compared with $0.1 million in the prior-year period.
• As of March 31, 2023, the Company’s backlog was $234.9 million compared with $333.2 million as of December 31, 2022; approximately $100.5 million of the current backlog is expected to be converted to revenue over the next twelve months.

• Total backlog as of March 31, 2023 was $234.9 million compared with $333.2 million on December 31, 2022. During the first quarter of 2023 the Company recognized revenue of $103.5 million, booked new awards of $16.1 million, and saw net adjustments and cancellations of $10.9 million.

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