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Babcock & Wilcox Enterprises, Inc. (NYSE: BW) provides energy and environmental products and services for power and industrial markets worldwide. Company news commonly covers steam generation systems, natural gas and coal-to-gas fuel switching, environmental controls, carbon capture systems, BrightLoop hydrogen and syngas technology, and parts and field engineering services.
Recurring updates also include quarterly results, backlog and pipeline commentary, debt and balance-sheet actions, design-build power generation agreements for AI data center and industrial power demand, preferred stock dividends, board and executive governance changes, and investor presentations.
Babcock & Wilcox (BW) reported strong financial results for Q4 and full year 2021, with Q4 revenues of $192.3 million and a net income of $30.2 million. This represents a substantial increase from the previous year. Full year revenues reached $723.4 million, with net income of $31.5 million, up from a prior loss. The company achieved its 2021 adjusted EBITDA target of $70.6 million and reported total bookings of $779 million, a 20.8% increase from 2020. BW anticipates a robust 2022, targeting adjusted EBITDA of $110-120 million, supported by a $7.5 billion project pipeline.
Babcock & Wilcox Enterprises, Inc. (NYSE:BW) will host a conference call on March 8, 2022, at 8 a.m. ET to discuss its fourth quarter and full year 2021 results. The results will be released before the market opens on the same day. The call will be accessible via B&W’s Investor Relations site, and participants can dial in using specific numbers for the U.S., Canada, and other locations. A replay of the call will also be available for a limited time.
Headquartered in Akron, Ohio, B&W specializes in energy and environmental technologies.
Babcock & Wilcox (NYSE: BW) announced a $13 million contract for its Environmental segment to design and supply equipment aimed at mitigating environmental impact from ash at a U.S. power plant. The project will retrofit the existing ash slurry system with a state-of-the-art Allen-Sherman-Hoff® submerged grind conveyor (SGC), addressing zero-discharge bottom ash removal requirements. B&W's Executive VP highlighted the company's capability to support customers transitioning to cleaner power generation.
Babcock & Wilcox (NYSE: BW) has secured a $22 million contract to provide advanced waste-to-energy technology in Asia. This initiative aims to reduce coal dependency and minimize landfill waste by processing 160,000 tons of industrial waste annually through a 440-ton-per-day boiler. The company is focusing on decarbonization and waste management solutions, aligning with global sustainability efforts. The Asia-Pacific segment is expected to continue its growth with increasing opportunities for renewable energy technologies.
Babcock & Wilcox Enterprises, Inc. (NYSE: BW) announced the acquisition of Fossil Power Systems, Inc. (FPS), a leader in combustion technologies, on February 1, 2022. This strategic move aims to enhance B&W's portfolio in sustainable technologies, particularly for hydrogen and renewable energy applications. FPS, based in Dartmouth, Nova Scotia, has a strong history of providing quality combustion equipment globally. The integration is expected to leverage combined expertise for growth in large-scale fuel conversions and after-market services across over 70 countries.
Babcock & Wilcox (NYSE: BW) announced a significant contract worth over $6 million to upgrade a Middle East chemical plant's boilers from oil to cleaner fuel technologies. This contract includes the supply of advanced dual-fuel burners and technical services. The company is expanding its presence in the Middle East, characterized by increased demand for clean energy solutions. Since 2020, B&W has established a headquarters in location value="LU/ae..dubai"Dubai and enhanced its sales team to capitalize on growth opportunities in the region.
Babcock & Wilcox (NYSE: BW) has secured a contract worth over $11 million to design and install boiler equipment for a biomass boiler in Canada. The project includes replacing pressure parts and upgrading the wood feed and air systems. Babcock & Wilcox Canada Corp. will handle the installation. The company emphasizes its experience in providing advanced solutions for renewable biomass-fired plants, aiding customers in achieving energy and environmental goals while maintaining operational reliability.
Babcock & Wilcox (NYSE: BW) has secured contracts exceeding $18 million to enhance efficiency and availability at two U.S. power plants. The work will be carried out by its subsidiary, Babcock & Wilcox Construction Co. (BWCC), who will install key technologies such as waterwall panels and reheater tubes. BWCC specializes in construction and maintenance services for a range of industries, aiming to support utilities in optimizing their operations.
Babcock & Wilcox (NYSE: BW) has signed a cooperation agreement with Applied Blockchain to develop clean energy projects supporting cryptocurrency mining operations over the next three years. This collaboration aims to generate up to 1.5 gigawatts of electrical capacity utilizing B&W's renewable technologies, including carbon capture and hydrogen production. B&W executives highlighted their commitment to addressing the growing demand for sustainable energy in the crypto sector, leveraging their extensive experience and innovative solutions.
Babcock & Wilcox Enterprises (NYSE: BW) announced the completion of a public offering of $140 million in senior notes due 2026, with net proceeds of approximately $134 million. The funds will be utilized for general corporate purposes, including potential acquisitions and clean energy initiatives. The Senior Notes received a BB+ rating from Egan-Jones Ratings Company and will trade under the symbol 'BWNB' starting December 17, 2021. The offering was conducted under a shelf registration statement filed with the SEC.