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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) reported preliminary results for Q4 and FY 2020, highlighting a challenging year due to COVID-19. The company anticipates adjusted EBITDA of $45.1 million for the full year and $16.1 million for Q4, alongside a net income loss of $12.5 million. Despite these setbacks, BW secured $645 million in bookings and saw a 21.3% increase in backlog, totaling $535 million at year-end. The company has made significant progress in cost reductions, with $127 million in savings identified. Looking ahead, BW aims for adjusted EBITDA targets of $70-$80 million and $95-$105 million for 2021 and 2022, respectively.
Babcock & Wilcox Enterprises (NYSE: BW) has initiated a public offering of $110 million in senior notes due 2026. The offering, subject to market conditions, includes a 30-day option for underwriters to purchase additional notes. Proceeds will support clean energy initiatives, pay down the revolving credit facility, and reduce its size by 75% of the senior note value. The notes received a BB+ rating from Egan-Jones Ratings Company. The offering will adhere to the SEC’s shelf registration statement procedures.
Babcock & Wilcox Enterprises (NYSE: BW) announced a public offering of its common stock, granting underwriters a 30-day option for an additional 15% of shares. Proceeds will support clean energy initiatives and pay down revolving credit. B. Riley Financial will purchase approximately 10.7 million shares from Vintage Capital Management post-offering. The offering is under a shelf registration statement and conducted by B. Riley Securities as the lead manager. The company emphasizes that market conditions will influence the offering's actual size and completion timelines.
Babcock & Wilcox (NYSE: BW) has secured a contract exceeding $15 million to design and supply two package boilers for a new desalination plant. These high-temperature, high-pressure, natural gas-fired boilers will generate steam for a municipal facility serving residents and local businesses. B&W's COO highlighted the company's advanced boiler technologies and their suitability for diverse applications. With over 5,000 installed units and 150 years of experience, B&W Thermal's products are recognized for reliability and efficiency, tailored for various operational requirements.
Babcock & Wilcox (BW) has secured two new contracts totaling $10 million as part of its growth initiatives in Asia and the Middle East. The company aims to leverage its advanced environmental technologies to enhance operational efficiency and sustainability. These projects involve the design and supply of SPIG S.p.A. cooling systems, targeting industrial applications while addressing environmental impact and operational safety. The company's addressable market in these regions is projected to reach $12 billion over the next three years.
Babcock & Wilcox (NYSE: BW) has secured a contract exceeding $10 million with Cabot Corporation to supply environmental technologies aimed at reducing sulfur oxides emissions at its carbon black manufacturing site in Ville Platte, Louisiana. The project encompasses the design and provision of a wet flue gas desulfurization system, featuring an advanced gas distribution tray, along with advisory services for installation and commissioning. B&W Environmental's extensive expertise in emissions control technology reinforces its commitment to helping clients fulfill stringent environmental regulations.
Babcock & Wilcox (NYSE: BW) announced a new contract valued at over $8 million to design, supply, and install a SPIG air-cooled condenser for a waste-to-energy plant in the U.K. This project highlights the demand for renewable energy solutions and the increasing focus on the circular economy in the region. The SPIG cooling system is designed for enhanced efficiency and reduced emissions. B&W aims to expand its Environmental segment across Europe, leveraging tailored cooling technologies for various energy applications.
Babcock & Wilcox (NYSE: BW) has secured a contract exceeding $10 million to design and supply advanced ash-handling equipment for a U.S. power plant. This project includes eight innovative Submerged Grind Conveyors and other essential equipment, aimed at helping power plant owners comply with new EPA environmental standards. The technology offers a cost-effective solution by eliminating the need for ash ponds and enabling quicker installation while maintaining existing infrastructure. The demand for this technology is increasing as environmental regulations tighten.
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.
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