Shaw Group Bested Q2 Estimates, Rose 3.5% Year-Over-Year

Shaw Group (NYSE:SHAW) reported Q2 EPS of $0.78, topping analyst estimates of $0.46 per share. Revenues for the quarter rose 3.5% year-over-year to $1.5 billion, better than consensus estimates of $1.45 billion. J.M. Bernhard Jr., chairman, president and chief executive officer of Shaw said, "Results for the quarter were driven by strong operational performance in our Plant Services, Environmental & Infrastructure and Fabrication & Manufacturing segments, as well as our nuclear power contracts. Our Power segment was impacted by increased field construction costs on coal projects that are nearing completion and a change in the overall project completion schedule for the nuclear projects driven by delays in receiving the COLs. However, work is ramping up significantly on the nuclear projects, and we expect a positive impact for the remainder of the fiscal year from those projects." The Shaw Group (NYSE:SHAW) has potential upside of 2.9% based on a current price of $30.84 and an average consensus analyst price target of $31.73.