Babcock & Wilcox Enterprises I Stock Price, News & Analysis

Babcock & Wilcox Enterprises (NYSE: BW) has secured contracts exceeding $15 million from Summit Ridge Energy for five community solar projects in Illinois, totaling approximately 15 megawatts. This follows a previous award of over $20 million for seven solar farms in August 2022. The projects, driven by the increasing demand for renewable energy and incentives from the Inflation Reduction Act, are set for completion in 2023. B&W's expertise in solar project management is highlighted as essential for delivering clean energy to Illinois communities.

Babcock & Wilcox (BW) has secured a contract worth over $9 million to design and supply two cooling systems for a clean hydrogen production facility in the Middle East. These cooling towers, made of fiberglass-reinforced polymer (FRP), will support the use of renewable energy in hydrogen production, ensuring efficient and low-emissions operation. The company's Executive VP, Jimmy Morgan, stressed the importance of renewable energy for the future and highlighted their advanced technologies that aid clean energy production. B&W focuses on providing durable solutions that minimize environmental impact.

Babcock & Wilcox Enterprises reported a strong Q4 2022 with revenues of $250 million, a 30% increase year-over-year. Full-year revenues rose to $889.8 million, a 23% growth from 2021. Adjusted EBITDA for 2022 was $72.4 million, surpassing the target. However, the company faced a net loss of $26.6 million, a sharp contrast to the previous year's $31.5 million profit. Bookings reached $908 million, marking a 17% increase, with a year-end backlog of $704 million, a 19% rise from 2021. The company reiterated its 2023 adjusted EBITDA target of $100 million to $120 million amidst ongoing industry challenges and geopolitical pressures.

Babcock & Wilcox Enterprises, Inc. (NYSE:BW) announced a conference call scheduled for March 15, 2023, at 8 a.m. ET, to discuss its fourth quarter and full year 2022 results. The call will be led by Chairman and CEO Kenneth Young and CFO Louis Salamone. A news release detailing the results will precede the call, expected before market opening on the same date. Participants can join via a dedicated dial-in or stream the call live through B&W’s Investor Relations site. A replay of the call will also be available post-event.

Babcock & Wilcox (NYSE: BW) has secured contracts exceeding $14 million for its B&W Environmental segment. The contracts involve the design and supply of efficient dry cooling systems for waste-to-energy plants in the UK. These systems promote environmental benefits by eliminating cooling water discharge and are suitable for various climates. The company's COO highlighted growth in the UK market, indicating potential future opportunities.

Babcock & Wilcox (NYSE: BW) has secured a contract worth approximately $65 million from Lostock Sustainable Energy Plant Ltd. to provide advanced engineering services for the Lostock Sustainable Energy plant in Manchester, UK. This facility will convert residual waste into over 60 megawatts of energy, processing around 600,000 tonnes of waste annually, making it one of the largest waste-to-energy plants in the UK. The project aims to support decarbonization efforts by utilizing technologies such as GMAB™ flue gas treatment and SPIG™ air-cooled condensers. Commercial operations at the plant are scheduled to commence in late 2025.

Babcock & Wilcox (NYSE: BW) has secured a contract from Phillips 66 Limited to develop flue gas pre-treatment technology for a carbon capture system at the Humber Refinery in the UK. This initiative is part of the Humber Zero project, aiming to capture up to 8 million tonnes of CO₂ by 2030. The partnership highlights B&W's extensive experience in enhancing oil and gas processes and their commitment to environmental sustainability through innovative technologies.

Babcock & Wilcox (BW) and Fidelis New Energy have established a global alliance aimed at producing clean hydrogen. The collaboration combines B&W's bubbling fluidized bed boiler technology with Fidelis' patent-pending FidelisH2™ technologies, achieving zero-carbon intensity hydrogen production. This initiative aligns with the Inflation Reduction Act, qualifying for a $3-per-kilogram hydrogen production tax credit. The partnership is expected to open new markets and enhance B&W's renewable energy portfolio, advancing global clean energy goals.

Babcock & Wilcox (BW) has secured a contract exceeding $20 million for the design and supply of ash-handling systems at a North American power plant. This project aims to enhance environmental compliance and reduce emissions. The contract includes four Allen-Sherman-Hoff^® Submerged Grind Conveyor systems and two tube conveyors, manufactured in Lancaster, Ohio. B&W's technology focuses on effective bottom ash transport while minimizing environmental impact, supporting the operational needs of the North American power fleet.