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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 reported a strong Q4 2022 with revenues of $250 million, a 30% increase year-over-year. Full-year revenues rose to $889.8 million, a 23% growth from 2021. Adjusted EBITDA for 2022 was $72.4 million, surpassing the target. However, the company faced a net loss of $26.6 million, a sharp contrast to the previous year's $31.5 million profit. Bookings reached $908 million, marking a 17% increase, with a year-end backlog of $704 million, a 19% rise from 2021. The company reiterated its 2023 adjusted EBITDA target of $100 million to $120 million amidst ongoing industry challenges and geopolitical pressures.
Babcock & Wilcox Enterprises, Inc. (NYSE:BW) announced a conference call scheduled for March 15, 2023, at 8 a.m. ET, to discuss its fourth quarter and full year 2022 results. The call will be led by Chairman and CEO Kenneth Young and CFO Louis Salamone. A news release detailing the results will precede the call, expected before market opening on the same date. Participants can join via a dedicated dial-in or stream the call live through B&W’s Investor Relations site. A replay of the call will also be available post-event.
Babcock & Wilcox (NYSE: BW) has secured contracts exceeding
Babcock & Wilcox (NYSE: BW) has secured a contract worth approximately $65 million from Lostock Sustainable Energy Plant Ltd. to provide advanced engineering services for the Lostock Sustainable Energy plant in Manchester, UK. This facility will convert residual waste into over 60 megawatts of energy, processing around 600,000 tonnes of waste annually, making it one of the largest waste-to-energy plants in the UK. The project aims to support decarbonization efforts by utilizing technologies such as GMAB™ flue gas treatment and SPIG™ air-cooled condensers. Commercial operations at the plant are scheduled to commence in late 2025.
Babcock & Wilcox (NYSE: BW) has secured a contract from Phillips 66 Limited to develop flue gas pre-treatment technology for a carbon capture system at the Humber Refinery in the UK. This initiative is part of the Humber Zero project, aiming to capture up to 8 million tonnes of CO2 by 2030. The partnership highlights B&W's extensive experience in enhancing oil and gas processes and their commitment to environmental sustainability through innovative technologies.
Babcock & Wilcox (BW) and Fidelis New Energy have established a global alliance aimed at producing clean hydrogen. The collaboration combines B&W's bubbling fluidized bed boiler technology with Fidelis' patent-pending FidelisH2™ technologies, achieving zero-carbon intensity hydrogen production. This initiative aligns with the Inflation Reduction Act, qualifying for a $3-per-kilogram hydrogen production tax credit. The partnership is expected to open new markets and enhance B&W's renewable energy portfolio, advancing global clean energy goals.
Babcock & Wilcox (BW) has secured a contract exceeding
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
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