Welcome to our dedicated page for Babcock & Wilcox Enterprises news (Ticker: BW), a resource for investors and traders seeking the latest updates and insights on Babcock & Wilcox Enterprises stock.
Babcock & Wilcox Enterprises, Inc. (Symbol: BW) is a prominent player in the energy and environmental technologies sector, headquartered in Charlotte, N.C. With a robust global presence, Babcock & Wilcox (B&W) employs approximately 6,000 individuals worldwide and is dedicated to delivering cutting-edge solutions in power and industrial markets.
The company operates through three primary segments:
- B&W Renewable: This segment is committed to sustainable power and heat generation, focusing on renewable energy sources and technologies that promote environmental stewardship.
- B&W Environmental: Specializing in emissions control, this segment provides advanced solutions to minimize environmental impact, ensuring compliance with stringent regulatory standards.
- B&W Thermal: The largest revenue generator for the company, this segment deals with steam generation products and solutions for power plants, the oil and gas industry, and other industrial sectors.
Babcock & Wilcox’s customer base is extensive, encompassing industrial, electrical utility, and municipal industries. Their operations are predominantly located in the United States, Canada, Denmark, the United Kingdom, and other regions, with the U.S. contributing the majority of the company's revenue.
Recent achievements highlight the company's commitment to innovation and environmental sustainability. B&W has been actively engaged in numerous projects that enhance energy efficiency and reduce environmental footprint, underscoring its leadership in the industry.
Whether through pioneering renewable energy technologies or providing critical emissions control solutions, Babcock & Wilcox continues to set benchmarks in the energy sector, maintaining its status as a global leader in power generation and environmental solutions.
Babcock & Wilcox Enterprises (NYSE: BW) will participate in the B. Riley Securities Summer Summit on August 18-19, 2021, at the Proper Hotel in Santa Monica, California. CEO Kenneth Young and CFO Louis Salamone will conduct one-on-one meetings throughout the event. Interested parties can request an invitation or schedule a meeting by emailing 1on1@brileyfin.com.
The summit aims to connect investors with select companies highlighted by B. Riley's equity research team.
Babcock & Wilcox Enterprises (BW) reported a strong Q2 2021, achieving revenues of $202.9 million, a 49.8% increase year-over-year. Key performance indicators included an increase in adjusted EBITDA to $15.1 million, up from $1.7 million in Q2 2020. Despite COVID-19 challenges, the company is advancing its clean energy initiatives, with a project pipeline exceeding $6 billion. Recent financing agreements and a reduction of secured debt by over $347 million bolster BW's growth strategies. The firm anticipates 3-5 new renewable build bookings in 2021.
Babcock & Wilcox (NYSE: BW) will host a conference call and webcast on August 12, 2021, at 5 p.m. ET, to discuss its second quarter 2021 results.
Chairman and CEO Kenneth Young, along with CFO Louis Salamone, will provide insights into the Company’s performance. The results will be released after market close on the same day. Interested participants can access the call via B&W's Investor Relations site, with U.S. dial-in at (833) 227-5843 and international dial-in at (647) 689-4070, using conference ID 8265265.
Babcock & Wilcox Enterprises (NYSE: BW) will present at the Jefferies Industrials Conference on August 3, 2021, at 3:30 p.m. Eastern time. Kenneth Young, Chairman and CEO, and Louis Salamone, CFO, will be featured during this virtual event.
The conference aims to connect over 1,000 executives and investors, focusing on investment opportunities in the industrial sector.
One-on-one meetings with B&W management are also available. For more details and to view the presentation, visit the provided link.
Babcock & Wilcox (NYSE: BW) has secured two contracts worth over $11 million to enhance emission controls and energy efficiency at a power plant in Asia. The contracts include supplying a low-NOx combustion system and upgrading existing combustion equipment. These developments align with B&W's strategy to expand in the Asia-Pacific region, underpinned by the establishment of a regional headquarters in Perth, Australia, in 2020. With a focus on clean energy technologies, B&W aims to meet the growing demand for sustainable solutions across global markets.
Babcock & Wilcox (NYSE: BW) is advancing its BrightGen™ technology, designed for hydrogen combustion solutions in utility and industrial sectors, achieving zero CO2 emissions. The technology is already operational in various global refineries and facilities.
BrightGen can be integrated into existing utility and industrial boilers for power, heating, and steam generation. The ClimateBright™ suite includes technologies for CO2 capture and hydrogen production, applicable across multiple industries. B&W emphasizes the urgency of combating climate change through innovative energy solutions.
Babcock & Wilcox (NYSE: BW) has entered into an Intellectual Property Option Agreement with the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) for exclusive negotiation rights to license advanced thermal energy storage technology. This technology allows for long-term energy storage, vital for enhancing the reliability of solar and wind energy. B&W aims to generate up to 135 megawatts of power from stored thermal energy without CO2 emissions. The company also plans to develop a prototype heat exchanger aimed at scaling up for pilot demonstrations.
Babcock & Wilcox Enterprises (NYSE: BW) announced new Financing Agreements with PNC Bank and MSD Partners on June 30, 2021, securing a $50 million credit facility and up to $125 million in letters of credit. These agreements terminate previous obligations with Bank of America, waiving approximately $9 million in deferred fees. CEO Kenneth Young highlighted the significance of this financing for future growth and project support, aiming to enhance shareholder value while advancing in renewable technologies.
Babcock & Wilcox (BW) Environmental announced its support for Amager Resource Center's application for over €120 million ($140 million USD) in EU funding to develop a carbon dioxide capture facility at Copenhill in Copenhagen. B&W will collaborate with Saipem and Novozymes on the project if funding is approved. The technology utilized includes B&W's SolveBright™ solvent for carbon capture, aiming to capture 500,000 tonnes of CO2 annually. This initiative aligns with Copenhagen's goal of becoming carbon-neutral by 2025.
Babcock & Wilcox (NYSE: BW) introduces its SolveBright technology, a post-combustion carbon capture solution aimed at reducing CO2 emissions. This innovative solvent-based approach, part of the ClimateBright suite, is designed for flexibility in solvent usage, tailored to customer requirements. Chairman Kenneth Young emphasizes B&W's commitment to decarbonization through effective solutions across various industries such as cement, energy, and pharmaceuticals. B&W also offers technologies for hydrogen production and concentrated CO2 management.
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