Why Are Williams Industrial Services Shares Trading Lower Today?

Williams Industrial Services Group Inc 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.