Babcock & Wilcox Enterprises I Stock Price, News & Analysis

Babcock & Wilcox (NYSE:BW) announced new service projects valued at over $10 million for its Thermal segment, adding to previous bookings exceeding $30 million. These contracts cater to utility and industrial facilities, showcasing B&W Thermal's growing service capabilities. COO Jimmy Morgan emphasized their reputation for reliable service and engineering expertise across various markets, including utilities and petrochemical facilities. B&W Thermal offers solutions to complex boiler and environmental equipment challenges through a skilled global workforce.

Babcock & Wilcox (NYSE: BW) announced a contract exceeding $20 million to install replacement boiler pressure parts at a North American power plant. The work will be conducted by its subsidiary, Babcock & Wilcox Construction Co. (BWCC), with installation starting in February 2021 and expected completion in spring 2021. This project is part of B&W Thermal's strategy to extend plant operational lifespans, tapping into rising demand for plant maintenance and upgrades amid competitors reducing their service offerings.

Babcock & Wilcox Enterprises (NYSE: BW) will present at the 8th Annual Virtual Industrials Conference from December 2-4, 2020. Management is scheduled for a fireside chat on December 3 at 3:50 p.m. Eastern time and will engage in one-on-one meetings throughout the event. This presentation will be webcast live and accessible for replay on the Company’s Investor Relations website.

Headquartered in Akron, Ohio, Babcock & Wilcox specializes in energy and environmental technologies for power and industrial markets.

Babcock & Wilcox (BW) announced a $3 million contract with a North American power plant to upgrade burners and provide other boiler equipment. This contract will enable the plant to use cleaner-burning natural gas as its primary fuel source. The order includes natural gas valve trains and other components, with material delivery expected in early 2021. B&W's COO emphasized the company's capability to support utilities in enhancing efficiency and emissions control as they transition to natural gas generation.

Babcock & Wilcox reported Q3 2020 financial results, highlighting a 34% decrease in revenues to $132.5 million, primarily due to COVID-19 impacts. GAAP net income showed significant improvement to $34.7 million, driven by a $26 million loss recovery in the Renewable segment. Adjusted EBITDA rose to $25.6 million from $10.1 million last year. The company secured $177 million in bookings, up 106% year-over-year, and maintains a robust pipeline exceeding $5 billion. B&W anticipates $70-$80 million in adjusted EBITDA for 2021 as it continues to navigate the challenges posed by the pandemic.

Babcock & Wilcox (BW) announced a three-year extension of CEO Kenny Young's contract, continuing through December 31, 2023. Young has led a turnaround since November 2018, including recovery from historical project losses and implementing $119 million in cost savings. B&W is expanding its global presence with new offices across Europe, Asia, and the Middle East. Additionally, Chief Strategy Officer Henry Bartoli's contract has been extended until December 31, 2020, followed by a consulting role. The company emphasizes its commitment to sustainable energy technologies.

Babcock & Wilcox Enterprises is set to host a conference call on November 12, 2020, at 8:30 a.m. ET to discuss its third quarter 2020 results. CEO Kenneth Young and CFO Louis Salamone will present the details, with a news release issued prior to market opening on the same day. Investors can join the call via a U.S. dial-in number or international number, and access a replay on the Company's investor relations website.

Babcock & Wilcox is based in Akron, Ohio, specializing in energy and environmental technologies.

Babcock & Wilcox (BW) announced a contract valued at over $7 million for boiler maintenance and refurbishing a bottom ash system at a North American power plant. The contract, awarded to its subsidiary Babcock & Wilcox Construction Co., is scheduled for spring 2021 and includes repairs and maintenance for the plant's boiler and auxiliary equipment. B&W Thermal is recognized for its extensive experience in the power industry, offering a wide range of services and solutions to enhance plant efficiency and reliability.

Babcock & Wilcox (BW) has secured a contract valued at over $3 million to upgrade the Shetland Islands Council’s energy recovery plant in Lerwick, Scotland. The upgrades aim to reduce emissions and enhance efficiency by improving waste processing capacity by 15%. The project involves the installation of patented technologies and is set for completion in fall 2021. B&W Renewable will also provide maintenance and performance optimization services. This contract underscores B&W's commitment to advancing renewable energy technologies in Europe.