Babcock & Wilcox Enterprises Inc., an nuclear power company, reported a quarterly loss that missed Wall Street expectations.

The Charlotte-based company reported revenues of $408.7 million, a decrease of $2.5 million, or 0.5 percent, compared to the same time last year. Analysts were predicting a net revenue of $415.5 million.

Earnings per share in third quarter 2017 were a loss of $2.48 compared to a loss of 18 cents in 2016. Analysts predicted a loss of 14 cents per share.

Included in third quarter earnings are non-cash goodwill impairment charges of $86.9 million, or $1.86 per share.

Adjusted earnings per share were a loss of 49 cents in the quarter ending Sept. 30, as opposed to a loss of 36 cents last year.

“During the quarter, we made significant progress on our U.K. Renewable new-build projects, and we continue to expect these projects to be substantially construction complete by mid-2018,” said E. James Ferland, chairman and chief executive officer, in a statement.

“We are driving cost-savings actions within our business segments and in overhead-related functions, with a target of approximately $45 million in annual savings, as we work to improve our global cost structure,” said Ferland.

The cost-saving actions addressed by Ferland will include domestic and international workforce reductions, SG&A cost reductions and office closures and consolidations in non-core geographies.

Third quarter revenues for the company’s power segment decreased 4.5 percent to $202.2 million, compared to $211.7 million in 2016.

The industrial segment revenues increased 29.3 percent to $99.3 million in the third quarter compared to $76.8 million in 2016.

Renewable segment revenues decreased 12.7 percent to $108.6 million in the third quarter compared to $124.3 million in third quarter of 2016.

Babcock & Wilcox stock is trading at $4.28 in Friday morning trading, up 7.8 percent since market close on Wednesday.