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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 (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.
Babcock & Wilcox Enterprises (NYSE: BW) will present at the 8th Annual Virtual Industrials Conference from December 2-4, 2020. Management is scheduled for a fireside chat on December 3 at 3:50 p.m. Eastern time and will engage in one-on-one meetings throughout the event. This presentation will be webcast live and accessible for replay on the Company’s Investor Relations website.
Headquartered in Akron, Ohio, Babcock & Wilcox specializes in energy and environmental technologies for power and industrial markets.
Babcock & Wilcox (BW) announced a $3 million contract with a North American power plant to upgrade burners and provide other boiler equipment. This contract will enable the plant to use cleaner-burning natural gas as its primary fuel source. The order includes natural gas valve trains and other components, with material delivery expected in early 2021. B&W's COO emphasized the company's capability to support utilities in enhancing efficiency and emissions control as they transition to natural gas generation.
Babcock & Wilcox reported Q3 2020 financial results, highlighting a 34% decrease in revenues to $132.5 million, primarily due to COVID-19 impacts. GAAP net income showed significant improvement to $34.7 million, driven by a $26 million loss recovery in the Renewable segment. Adjusted EBITDA rose to $25.6 million from $10.1 million last year. The company secured $177 million in bookings, up 106% year-over-year, and maintains a robust pipeline exceeding $5 billion. B&W anticipates $70-$80 million in adjusted EBITDA for 2021 as it continues to navigate the challenges posed by the pandemic.
Babcock & Wilcox (BW) announced a three-year extension of CEO Kenny Young's contract, continuing through December 31, 2023. Young has led a turnaround since November 2018, including recovery from historical project losses and implementing $119 million in cost savings. B&W is expanding its global presence with new offices across Europe, Asia, and the Middle East. Additionally, Chief Strategy Officer Henry Bartoli's contract has been extended until December 31, 2020, followed by a consulting role. The company emphasizes its commitment to sustainable energy technologies.
Babcock & Wilcox Enterprises is set to host a conference call on November 12, 2020, at 8:30 a.m. ET to discuss its third quarter 2020 results. CEO Kenneth Young and CFO Louis Salamone will present the details, with a news release issued prior to market opening on the same day. Investors can join the call via a U.S. dial-in number or international number, and access a replay on the Company's investor relations website.
Babcock & Wilcox is based in Akron, Ohio, specializing in energy and environmental technologies.
Babcock & Wilcox (BW) announced a contract valued at over $7 million for boiler maintenance and refurbishing a bottom ash system at a North American power plant. The contract, awarded to its subsidiary Babcock & Wilcox Construction Co., is scheduled for spring 2021 and includes repairs and maintenance for the plant's boiler and auxiliary equipment. B&W Thermal is recognized for its extensive experience in the power industry, offering a wide range of services and solutions to enhance plant efficiency and reliability.
Babcock & Wilcox (BW) has secured a contract valued at over $3 million to upgrade the Shetland Islands Council’s energy recovery plant in Lerwick, Scotland. The upgrades aim to reduce emissions and enhance efficiency by improving waste processing capacity by 15%. The project involves the installation of patented technologies and is set for completion in fall 2021. B&W Renewable will also provide maintenance and performance optimization services. This contract underscores B&W's commitment to advancing renewable energy technologies in Europe.
Babcock & Wilcox (BW) announced a strategic partnership with Eos Energy Storage to market the innovative Znyth® zinc battery solution for industrial and utility-scale energy storage. The partnership enables B&W to serve as the exclusive installation provider for Eos in the U.S. and Canada while marketing the battery technology to its global customer base. This zinc-based solution offers improved safety and cost-effectiveness over traditional lithium-ion batteries, addressing supply chain concerns and safety limitations.
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