Babcock & Wilcox Enterprises, Inc. - BW STOCK NEWS

Babcock & Wilcox (NYSE: BW) announced contracts exceeding $12 million for two utility-scale solar panel projects with a combined capacity of 144 megawatts in the Midwest U.S. These projects aim to produce zero-carbon power for over 20,000 homes and businesses. B&W's Executive VP, Jimmy Morgan, expressed optimism about the growing demand for clean energy solutions and the North American solar market. The projects are scheduled for completion in Q4 2022, signaling B&W's commitment to the clean energy revolution and its renewable energy solutions.

Babcock & Wilcox (BW) announced a contract exceeding $15 million for its newly acquired subsidiary, B&W Renewable Service A/S, to design and install a 48-megawatt biomass-fired boiler in Europe. This project marks B&W’s first bubbling fluidized bed (BFB) boiler installation in the region, aimed at providing district heating to thousands of customers while reducing emissions. The plant is expected to be operational by the second quarter of 2023, reflecting the growing demand for biomass energy solutions in the European market.

Babcock & Wilcox (NYSE: BW) has secured a contract exceeding $5 million to design and supply SPIG^® cooling towers for a pulp mill in South America. The contract includes 18 cooling cells across three towers, aimed at enhancing efficiency and reducing water use. The company highlights the growing demand for its technologies in the South American pulp and paper market. Their specialized solutions cater to various operational needs, focusing on environmental sustainability and efficiency.

Babcock & Wilcox (BW) reported over $23 million in parts and services bookings in April 2022, marking the strongest start since 2016. This surge reflects a return to pre-pandemic demand levels among utility and industrial customers in North America. Notable orders include environmental aftermarket parts, pulp and paper upgrades, and B&W's Diamond Power product lines. Executive VP Jimmy Morgan emphasized the ongoing strong demand and B&W's commitment to serving utility customers. The company expects this trend to continue in the coming months.

Babcock & Wilcox (NYSE: BW) announced a $68 million contract awarded to its subsidiary, Babcock & Wilcox Construction Co., for power plant maintenance in North America. This project aims to enhance energy security through efficient and safe construction services. BWCC emphasizes a strong safety culture with a goal of zero lost-time incidents. The company provides turnkey construction and maintenance services across various industries, showcasing its versatility and commitment to quality in infrastructure projects.

Babcock & Wilcox Enterprises, Inc. (NYSE: BW) will present at the 22nd Annual B. Riley Securities Institutional Investor Conference on May 25-26, 2022, in Beverly Hills, California. CEO management is scheduled to speak on May 25 from 8:10 a.m. to 8:45 a.m. PT, with one-on-one meetings available throughout the event. The conference gathers over 1,000 attendees and features company presentations, panels, and networking opportunities. For meeting requests or more information, contact via email or visit the conference website.

Babcock & Wilcox Enterprises (NYSE: BW) reported a strong first quarter of 2022, with revenues reaching $204 million, a 21% increase compared to Q1 2021. The Renewable segment performed particularly well, with revenues of $68 million, reflecting a 136% rise. Net loss improved to $8.7 million from a loss of $15.4 million. Bookings soared 41% to $239 million, while backlog jumped 35% to $721 million. The company continues to navigate challenges from the Ukraine conflict and COVID-19, but sees growth opportunities in energy security and decarbonization.

Babcock & Wilcox Enterprises, Inc. (NYSE:BW) will host a conference call on May 9, 2022, at 5 p.m. ET to discuss its first quarter 2022 results. The call will be led by CEO Kenneth Young and CFO Louis Salamone, with results to be released after market close on the same day. The public can listen to the call through B&W’s investor relations site. Dial-in numbers are provided for participants in the U.S., Canada, and other locations, and a replay will be available for a limited time.