New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 8, 2013
16:16 EDTWGWillbros Group awarded two transmission construction projects in Texas
Willbros Group announced that two units of its Utility T&D segment have been awarded transmission construction projects in Texas. Willbros T&D was awarded a contract by New Braunfels Utilities to remove 3.1 miles of existing line and install approximately 3.8 miles of new line. The project is scheduled to begin in February and will be completed by the end of May. Additionally, Xcel Energy Services awarded Chapman Construction, a division of Willbros, the first 104 miles of a 200 mile single circuit 345-kilovolt transmission line project in the Texas Panhandle. Construction on the project is scheduled to commence towards the end of Q2 with wire installation in 2H13.
News For WG From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
October 22, 2014
09:32 EDTWGWillbros Group downgraded to Equal Weight from Overweight at Johnson Rice
Subscribe for More Information
05:26 EDTWGWillbros Group to host business news update conference call
Subscribe for More Information
05:11 EDTWGWillbros Group CEO targets $4.6B-$1.7B in annual revenue
Subscribe for More Information
05:08 EDTWGWillbros Group to restate Q2 results
Willbros Group announced that it is refocusing its business strategy under the leadership of John T. McNabb, II, newly elected CEO, and a restructured management team. The company has identified approximately $22M-$24M in deterioration of a significant pipeline construction project in the company's Northeast regional business within the Oil & Gas segment. This deterioration consists of the reversal of approximately $8M in pre-tax income previously recognized and the recognition of approximately $14M-$16M in estimated pre-tax losses at project completion. Although some of the project deterioration related to Q3, the company has determined that a majority of these estimated charges should have been recognized in Q2. As a result, the company expects to restate its Q2 results and such results should no longer be relied upon. Additional information relating to the restatement is being disclosed in a Form 8-K being filed with the SEC. The company now expects to report operating income of approximately $26M-$28M for the nine months ended September 30, subject to the completion of its quarterly close procedures. In addition, management, with oversight from the company's Audit Committee, is evaluating any impact on its prior conclusions of the adequacy of internal control over financial reporting and disclosure controls and procedures. The company will amend, as necessary, any disclosures pertaining to its evaluation of such controls and procedures.
October 21, 2014
18:34 EDTWGWillbros Group names John McNabb as CEO
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the disclaimer & terms of use