Babcock & Wilcox Enterprises I Stock Price, News & Analysis

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.

Babcock & Wilcox (NYSE: BW) has signed a collaboration agreement with Chart Industries (NYSE: GTLS) to advance B&W’s BrightLoop hydrogen generation technology. This partnership aims to produce low-carbon hydrogen and efficiently manage carbon dioxide using Chart's liquefaction and carbon capture solutions. Both companies will also devise sales strategies for commercial hydrogen and carbon capture projects. B&W's BrightLoop technology is versatile, converting various fuels into hydrogen, syngas, and steam, while Chart’s technology enhances the storage and transport of liquid hydrogen.

Babcock & Wilcox (NYSE: BW) has secured a contract exceeding $24 million to provide two industrial package boilers and advanced emissions control systems for a petroleum refinery in North America. The B&W Thermal segment will design and supply the boilers and auxiliary equipment, while the B&W Environmental division will deliver select catalytic reduction systems to manage nitrogen oxide emissions. This contract highlights the strong demand for reliable steam generation and emissions technologies in the oil and gas sector.

Babcock & Wilcox (NYSE: BW) announced a new contract worth over $42 million for upgrade and maintenance projects across North America in the electrical utility, pulp & paper, and oil & gas sectors. The company's Babcock & Wilcox Construction Co., LLC (BWCC) is experiencing strong demand for its Thermal aftermarket services. BWCC has a substantial backlog for construction projects heading into 2023, indicating consistent growth in service offerings, including boiler installations and repairs.

Babcock & Wilcox announced its Q3 2022 results, highlighting revenues of $214.9 million, a 34% increase from the previous year, but recorded a net loss of $20.6 million, down from a net income of $13.6 million. Adjusted EBITDA fell to $13.1 million from $18.9 million. Bookings improved by 31% to $227 million, with a backlog of $730 million, a 35% increase. The company anticipates a full-year Adjusted EBITDA of between $100 million and $120 million for 2023, despite ongoing supply chain challenges.