Babcock & Wilcox Enterprises, Inc. - BW STOCK NEWS

Babcock & Wilcox (NYSE: BW) announced its adjusted EBITDA targets for 2023, forecasting between $100 million and $120 million, despite geopolitical challenges affecting 2022. The company revised its 2022 EBITDA target down to $70 million to $80 million due to supply chain pressures. Strong demand is evidenced by a $724 million backlog and $226 million in bookings for Q3 2022, marking over 30% improvement from Q3 2021. A conference call is scheduled for November 8, 2022, to discuss these results.

Babcock & Wilcox (BW) has been awarded a contract by CONSOL Energy to study the application of its SolveBright CO₂ capture technology for the 21^st Century Power Plant project. This project aims to utilize advanced carbon capture technologies as part of a U.S. Department of Energy initiative. The plant is designed to capture approximately 781,000 metric tonnes of CO₂ annually. B&W will collaborate with Honeywell UOP, leveraging their ASCC process technology to enhance CO₂ emissions reduction and promote clean energy generation.

Babcock & Wilcox (NYSE: BW) will participate in the 2022 Global Clean Energy Action Forum from Sept. 21-23 in Pittsburgh, Pa. Chairman and CEO Kenneth Young will join industry leaders and U.S. DOE officials for a roundtable on Sept. 22 at 6:30 p.m. ET, emphasizing commercialization of clean energy technologies. The event includes the 4 C’s Celebration, focusing on the transition from research to market. Young highlighted B&W's role in reducing emissions and advancing renewable energy solutions.

Babcock & Wilcox Enterprises (NYSE:BW) will present at D.A. Davidson’s 21st Annual Diversified Industrials & Services Conference in Nashville, TN, on September 23, 2022. The presentation is scheduled from 11:00 a.m. to 11:30 a.m. Eastern Time, alongside one-on-one meetings throughout the event. For further information or meeting requests, attendees are encouraged to contact D.A. Davidson representatives or visit the conference web site.

Babcock & Wilcox Enterprises, Inc. (NYSE:BW) will present at the Lake Street Capital Markets 6^th Annual Best Ideas Growth (BIG6) Conference on September 14, 2022, in New York. B&W's Chairman and CEO, Kenneth Young, along with CFO Louis Salamone, will conduct one-on-one meetings during the event. For more details or to request an invitation, attendees should contact their Lake Street representative or visit the conference web site.

B&W specializes in energy and environmental technologies, serving the power and industrial sectors.

Babcock & Wilcox (BW) has secured a contract worth approximately $42 million for construction and installation services at a U.S. power plant aimed at enhancing its environmental performance. The contract is awarded to Babcock & Wilcox Construction Co., LLC (BWCC), which emphasizes its expertise in environmental upgrades. Safety and timely project delivery are highlighted as top priorities. This contract reinforces BW's capability as a reliable provider of environmental solutions, aligning with its commitment to maintaining efficient and clean power operations.

Babcock & Wilcox Enterprises (BW) reported a revenue of $221.0 million for Q2 2022, marking a 9% increase from Q2 2021, driven by new projects and recent acquisitions. The Renewable segment saw a remarkable 96% revenue growth to $75.2 million. Bookings rose by 46% to $245 million, with an ending backlog of $731 million, also up 46%. Despite these gains, BW reported a net loss of $6.3 million, with losses per share at $0.07, contrasting with previous net income. Adjusted EBITDA reached $20.6 million, reflecting a 35% increase. The ongoing geopolitical tensions and pandemic continue to pose challenges.

Babcock & Wilcox (NYSE: BW) announced contracts worth over $20 million from Summit Ridge Energy for engineering, procurement, and construction services on seven community solar projects in Illinois. These solar farms will generate approximately 20 megawatts of power for Northern and Central Illinois. The projects are scheduled for completion in Q1 2023, addressing the rising demand for clean energy in the U.S. B&W aims to leverage its extensive experience in solar installations to meet the growing need for reliable, zero-emission power.

Babcock & Wilcox Enterprises (NYSE:BW) will present at the Jefferies Industrials Conference in New York City on August 9, 2022. The management presentation is scheduled for 1:30 p.m. to 1:55 p.m. Eastern Time. One-on-one meetings will take place throughout the conference. Interested parties can contact Jefferies representatives for more information or to schedule a meeting. B&W, based in Akron, Ohio, is a leader in energy and environmental technologies for the power and industrial sectors.