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Williams Industrial Services Group Inc (WLMS) stock soared in the recent trading session; here’s why

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In the recent trading session, Williams Industrial Services Group Inc. (WLMS) stock soared by 20.19% to the price of $4.44 at the time of writing. WLMS previously closed Tuesday’s session at $3.72. The stock volume traded today at 2.35 million shares. The average volume of trade happening in the past 3 months is 94.53k which shows that today’s trade volume is exponentially high. In the past year, WLMS stock soared by 207.44%. In the past week, the shares slumped by -8.37%

Operational background of Williams Industrial Services Group

Williams industrial Services Group is an industrial machinery company that focuses on the services of construction and maintenance. It also provides construction-related maintenance, support, and modification for its clients. The company markets its services to companies like industrial end markets and the energy sector market.

William has its mission statement to be the on-first-basis provider of construction and construction-related specialty services. The company wants to aim on the commitment of high-quality performance, Thorough safety regulations, dedication to delivery, and providing value to customers.

Financial result of the full year and fourth quarter 2020

Williams industrial services group Inc. On 31st March 2021 announced the financial report of its fiscal fourth quarter ended on 31st December 2020. Overall, the company reported a decreased fourth-quarter revenue compared to the revenue of the fourth quarter 2019. However, the revenue for the full-year reporter increase compared to 2019. The company also reported a higher net loss in the fourth quarter 2020 compared to Q4 2019.

The CEO of Williams Tracy Pagliara stated an elated overall outlook of its performance in 2020 for its financial results. The CEO highlighted that the gross margins and cash liquidity from the operations generated significant capital profit and by refinancing the credit facilities the company had reduced its debt.

Q4 and FY 2020 highlights

Here are the highlights for the Q4 and full-year 2020:

  1. WLMS generated a revenue of $64.1 million in Q4 2020 while it generated $66.8 million in the prior year.
  2. WLMS posted $269.1 million revenue which is $23.3 million more compared to full-year 2029.
  3. WLMS reported a net loss of $0.04 per share compared to $0.01 per share for Q4 2019.
  4. WLMS had secured a net income of $2 million for full-year 2020 which is twice that of the full year 2019.
  5. WLMS reported an EBITDA of $4 million for Q4 2020 compared to $4.2 million for Q4 2019.
  6. WLMS had generated from its operating cash a total of $17.4 million in Q4 2020 and used it to refinance and clear the debt by $9.3 million.

Outlook of WLMS stock for the year 2021

For the year 2021, the company started with a stronger balance sheet and bolstered financial strength with which the company aims to diversify its operations and expand its product offerings. As the pandemic restrictions eased down and create more beneficial business activities and economic developments. WLMS stock aims to build its back lock throughout the rest of 2021. Furthermore, the company expects its interest expense in the balance sheet for fiscal 2021 to be approximately $1.5 million lower than in 2020.

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