Economy Blog

On Wednesday Foster Wheeler (FWLT) reported earnings of 85 cents a share well ahead of Wall Street estimates of 12 cents. Revenues came in at $1.8 billion, vs. $1.4 billion in the previous quarter. The company said it currently has a backlog of $8.9 billion, which is almost equal to the company’s entire marketcap. Despite the great results, shares of FWLT fell 1.8% after CEO Ray Milchovich said during the company’s conference call that the North American power business is weak. Milchovich said he was surprised by Wall Street’s reaction to his comments and
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Fuente Original

On Wednesday Foster Wheeler (FWLT) reported earnings of 85 cents a share well ahead of Wall Street estimates of 12 cents. Revenues came in at $1.8 billion, vs. $1.4 billion in the previous quarter. The company said it currently has a backlog of $8.9 billion, which is almost equal to the company’s entire marketcap.
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Fuente Original