Babcock & Wilcox shares plummet on earning report

Babcock & Wilcox shares plummet on earning report

Shares at Babcock & Wilcox Enterprises Inc. fell more than 72% Thursday after the Charlotte-based energy supplier reported a second-quarter net loss of $151 million, or $3.09 per share. Babcock & Wilcox Enterprises widely missed analysts’ expectations that it would earn 6 cents per share. Revenue fell nearly 9% to $349.8 million. The company’s stock fell $7.05 in trading Thursday to close at $2.70 per share.

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