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) reported Q2 2024 results with revenue of $233.6 million, net income of $25.4 million, and operating income of $42.2 million. The company achieved Adjusted EBITDA of $23.3 million, exceeding expectations. BW reiterated its full-year 2024 Adjusted EBITDA target range of $105-115 million, excluding BrightLoop and ClimateBright expenses.
Key highlights include:
- Improved balance sheet through sale of Denmark renewable service subsidiary for $83.5 million
- Announced backlog of $472.4 million and implied backlog of $757.8 million
- Total YTD bookings of $383.1 million, a 71% increase compared to H1 2023
- Achieved annualized cost savings of $25 million to date
BW remains focused on strengthening its balance sheet, improving liquidity, and strategically investing in future growth.
Babcock & Wilcox (NYSE: BW) has announced that its subsidiary, Babcock & Wilcox Construction Co., (BWCC), has been awarded a $25 million contract for outage and maintenance services at a U.S. thermal power plant. The contract includes boiler upgrades, pressure part replacements, and other maintenance work to be executed during the plant's Fall 2024 outage.
BWCC Vice President Mike Hidas emphasized the importance of the coal power fleet, which provides approximately 20% of electrical power in the U.S. and is a critical source of baseload energy. The company aims to ensure energy security by helping customers maintain reliable and efficient baseload generating assets.
BWCC operates multiple regional construction offices across the U.S. and Canada, enabling quick response to customer requests and efficient project management.
Babcock & Wilcox Enterprises, Inc. (NYSE:BW) has announced its second quarter 2024 conference call and webcast, scheduled for Thursday, August 8, 2024, at 5 p.m. ET. The company's Chairman and CEO Kenneth Young, along with CFO Louis Salamone, will discuss the Q2 2024 results. A news release detailing the results is expected to be issued after market close on the same day.
The conference call will be broadcast live via the Internet on B&W's Investor Relations site. Dial-in numbers for participants are provided, with a conference ID of 312135. A replay of the call will be available on the company's website for a time. Babcock & Wilcox, headquartered in Akron, Ohio, is a leader in energy and environmental products and services for power and industrial markets worldwide.
Babcock & Wilcox has sold its Denmark-based Babcock & Wilcox Renewable Service A/S (BWRS) subsidiary to Hitachi Zosen Inova AG for $87 million, subject to customary fees and adjustments. The sale is part of B&W's strategic plan to reduce long-term debt and optimize its capital structure. BWRS, employing over 160 people, offers aftermarket parts and services for waste-to-energy plants in northern Europe and the UK. The transaction closed on June 28, 2024. B&W reiterates its Full Year 2024 Adjusted EBITDA target range of $105 million to $115 million, excluding BrightLoop and ClimateBright expenses. B&W will continue to focus on its core technologies and pursue a robust pipeline of opportunities in the renewable energy sector.
Babcock & Wilcox (NYSE: BW) announced that its B&W Environmental segment has secured over $18 million in contracts for wet and dry electrostatic precipitator (ESP) rebuilds. These rebuilds aim to control particulate emissions in utilities and industrial facilities across the U.S. and Europe.
According to Jimmy Morgan, B&W's Executive Vice President and COO, the company's ESP technologies are important for reducing particulate emissions in diverse industries such as power, waste-to-energy, petrochemical, cement, mining, and glass manufacturing.
B&W's ESP systems are customizable for diverse applications, including controlling particulate emissions from solid fuels, organic fumes, and sulfuric acid. They also serve as a pretreatment for carbon capture systems.
Babcock & Wilcox (NYSE: BW) has received a notice to proceed (LNTP) from NorthStar Clean Energy for a project converting a former coal-fired power plant in Filer City, Michigan, into a Bioenergy with Carbon Capture and Storage (BECCS) facility. Utilizing B&W's SolveBright™ CO2 capture technology, the plant will capture up to 550,000 tons of CO2 annually and generate carbon-negative power. The project will extend the life of the power plant by switching to biomass fuel. Full contract finalization and notice to proceed are expected in Q4 2024. The project's scope includes engineering, design, and delivery of necessary equipment, with B&W Construction Co. managing construction and mechanical aspects.
This initiative aims to help plant operators comply with emissions regulations while ensuring energy security. The Filer City plant is jointly owned by Tondu Corp and NorthStar Clean Energy, a subsidiary of CMS Energy
Babcock & Wilcox (NYSE: BW) announced that its subsidiary, Babcock & Wilcox Construction Co. (BWCC), has secured contracts worth over $20 million for power plant outage and rebuild work in the U.S. According to BWCC Vice President and General Manager Mike Hidas, maintaining the existing baseload power fleet is essential for energy security, reliability, and affordability. These contracts not only emphasize the need for plant maintenance but also increase the demand for replacement parts, for which B&W is a trusted provider. BWCC offers a range of services including outage services, installation, refurbishment, and mechanical repair across various industries such as utilities, oil and gas, petrochemical, and pulp and paper.
Babcock & Wilcox Enterprises, Inc. reported strong Q1 2024 results, exceeding revenue expectations with $207.6 million and operating income of $4.3 million. The company raised its full-year Adjusted EBITDA target to $105.0-$115.0 million. Noteworthy highlights include $500.0 million in contract signings, a backlog of $532.8 million, and annualized cost savings of $20.0 million. Despite lower Q1 revenues compared to 2023, B&W remains optimistic about 2024. The company is focused on operational excellence, strategic investments, and capitalizing on global project opportunities. The financial performance across segments, including Renewable, Environmental, and Thermal, reflects progress and growth.
FAQ
What is the current stock price of Babcock & Wilcox Enterprises (BW)?
What is the market cap of Babcock & Wilcox Enterprises (BW)?
What does Babcock & Wilcox Enterprises, Inc. specialize in?
Where is Babcock & Wilcox headquartered?
How many employees does Babcock & Wilcox have?
What are the main business segments of Babcock & Wilcox?
Which segment generates the most revenue for Babcock & Wilcox?
Which regions contribute most to Babcock & Wilcox's revenue?
What industries does Babcock & Wilcox serve?
What recent achievements has Babcock & Wilcox accomplished?
What is B&W Renewable focused on?
What is the primary focus of B&W Environmental?
