Babcock & Wilcox Enterprises I Stock Price, News & Analysis

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.

Babcock & Wilcox (NYSE: BW) announced its adjusted EBITDA targets for 2023, forecasting between $100 million and $120 million, despite geopolitical challenges affecting 2022. The company revised its 2022 EBITDA target down to $70 million to $80 million due to supply chain pressures. Strong demand is evidenced by a $724 million backlog and $226 million in bookings for Q3 2022, marking over 30% improvement from Q3 2021. A conference call is scheduled for November 8, 2022, to discuss these results.

Babcock & Wilcox (BW) has been awarded a contract by CONSOL Energy to study the application of its SolveBright CO₂ capture technology for the 21^st Century Power Plant project. This project aims to utilize advanced carbon capture technologies as part of a U.S. Department of Energy initiative. The plant is designed to capture approximately 781,000 metric tonnes of CO₂ annually. B&W will collaborate with Honeywell UOP, leveraging their ASCC process technology to enhance CO₂ emissions reduction and promote clean energy generation.

Babcock & Wilcox (NYSE: BW) will participate in the 2022 Global Clean Energy Action Forum from Sept. 21-23 in Pittsburgh, Pa. Chairman and CEO Kenneth Young will join industry leaders and U.S. DOE officials for a roundtable on Sept. 22 at 6:30 p.m. ET, emphasizing commercialization of clean energy technologies. The event includes the 4 C’s Celebration, focusing on the transition from research to market. Young highlighted B&W's role in reducing emissions and advancing renewable energy solutions.

Babcock & Wilcox Enterprises (NYSE:BW) will present at D.A. Davidson’s 21st Annual Diversified Industrials & Services Conference in Nashville, TN, on September 23, 2022. The presentation is scheduled from 11:00 a.m. to 11:30 a.m. Eastern Time, alongside one-on-one meetings throughout the event. For further information or meeting requests, attendees are encouraged to contact D.A. Davidson representatives or visit the conference web site.