Babcock & Wilcox Enterprises I Stock Price, News & Analysis

Babcock & Wilcox Enterprises (NYSE:BW) will host a conference call on March 9, 2021, at 8 a.m. ET to discuss its fourth quarter and full-year 2020 results. CEO Kenneth Young and CFO Louis Salamone will lead the discussion, with a news release expected before market opening on the same day. Investors can join the call via dial-in or by accessing the webcast from B&W’s Investor Relations site. A replay will be available for a limited time afterward.

Babcock & Wilcox (NYSE: BW) reported securing new construction service projects worth approximately $13 million in North America. These projects span various industries, including pulp and paper, mining, and petroleum refining, as the market recovers post-COVID-19 delays. COO Jimmy Morgan highlighted a strengthening demand in energy and industrial construction, predicting continued growth as the economy improves. B&W Thermal operates multiple regional offices to manage these projects efficiently, positioning itself to meet the increasing market needs for construction and maintenance services.

Babcock & Wilcox Enterprises (NYSE: BW) closed an underwritten public offering on February 12, 2021, raising approximately $172.5 million from the sale of 29,487,180 shares at $5.85 each. Additionally, it issued $125 million of 8.125% senior notes due 2026, generating combined net proceeds of about $283 million. The capital will reduce secured debt and fund clean energy initiatives. The company also exchanged $35 million in loans for senior notes, lowering interest rates from 12% to 6.625%. Both offerings are rated BB+ by Egan-Jones Ratings Company.

Babcock & Wilcox (NYSE: BW) has secured a contract exceeding $13 million for its Environmental segment. This contract involves the design, supply, and installation of a flue gas energy recovery system and advanced water treatment equipment for a waste-to-energy plant in Europe. The project aims to enhance energy recovery and reduce water consumption through the implementation of advanced technologies, including the B&W Vølund AB flue gas condenser and heat pump system. These initiatives support B&W's commitment to providing low-emissions energy solutions across Europe.

Babcock & Wilcox Enterprises (NYSE: BW) announced a public offering of $120 million in 8.125% senior notes due 2026, pricing on February 10, 2021, with expected closing on February 12, 2021. The company secured a BB+ rating for the notes and plans to list them on NYSE under symbol BWSN. Concurrently, B. Riley Financial is exchanging $35 million of its term loan for the same amount in senior notes. Proceeds will fund clean energy initiatives and reduce the revolving credit facility by 75% of the senior note value.

Babcock & Wilcox Enterprises (NYSE: BW) has priced a public offering of 25,641,026 shares at $5.85 each, raising approximately $150 million. The offering is set to close on February 12, 2021. The company plans to utilize the proceeds for clean energy growth initiatives and to reduce its revolving credit facility. The offering will be conducted under an SEC-approved registration statement. B. Riley Securities is the lead manager, with D.A. Davidson & Co. and Janney Montgomery Scott as joint managers.

Babcock & Wilcox Enterprises (NYSE: BW) reported preliminary results for Q4 and FY 2020, highlighting a challenging year due to COVID-19. The company anticipates adjusted EBITDA of $45.1 million for the full year and $16.1 million for Q4, alongside a net income loss of $12.5 million. Despite these setbacks, BW secured $645 million in bookings and saw a 21.3% increase in backlog, totaling $535 million at year-end. The company has made significant progress in cost reductions, with $127 million in savings identified. Looking ahead, BW aims for adjusted EBITDA targets of $70-$80 million and $95-$105 million for 2021 and 2022, respectively.

Babcock & Wilcox Enterprises (NYSE: BW) has initiated a public offering of $110 million in senior notes due 2026. The offering, subject to market conditions, includes a 30-day option for underwriters to purchase additional notes. Proceeds will support clean energy initiatives, pay down the revolving credit facility, and reduce its size by 75% of the senior note value. The notes received a BB+ rating from Egan-Jones Ratings Company. The offering will adhere to the SEC’s shelf registration statement procedures.

Babcock & Wilcox Enterprises (NYSE: BW) announced a public offering of its common stock, granting underwriters a 30-day option for an additional 15% of shares. Proceeds will support clean energy initiatives and pay down revolving credit. B. Riley Financial will purchase approximately 10.7 million shares from Vintage Capital Management post-offering. The offering is under a shelf registration statement and conducted by B. Riley Securities as the lead manager. The company emphasizes that market conditions will influence the offering's actual size and completion timelines.