- Williams Industrial Services Group Inc (NYSE:WLMS) plunges after providing FY22 financial guidance.
- The company expects revenue of $305 million - $325 million (consensus $325.04 million), with the first quarter being the lowest sales period.
- The company expects gross margin to be 10.5% - 11.0%, and EBITDA of $10 million - $12.5 million.
- Williams Industrial's total liquidity was $27.7 million as of December 31, 2021, versus $21.7 million at the end of Q3.
- "Our guidance for 2022 marks continued progress towards sustained profitability and a strengthened balance sheet while recognizing some current challenges impacting the business," said CEO Tracy Pagliara.
- "In particular, we did not win the delayed contract that was designated as 'uncertain' in our third quarter earnings release, and one of our other largest customers has transferred certain work to a competitor," Pagliara added.
- Price Action: WLMS shares are trading lower by 29.4% at $2.16 on the last check Friday.
