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 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.
Babcock & Wilcox (NYSE: BW) has secured a significant contract worth over $12 million from Lotte Engineering & Construction Co. to provide hybrid cooling systems for Korea District Heating Corporation's power generation projects in Daegu and Cheongju, South Korea. The contract includes the design and supply of SPIG hybrid cooling towers, which utilize advanced cooling technologies to enhance efficiency while reducing water use and noise emissions. This deal reflects B&W's ongoing growth in the East Asian market since establishing its Asia-Pacific headquarters in 2020.
Babcock & Wilcox (NYSE: BW) has been named the preferred supplier for Fidelis New Energy's biomass power plant at the Port of Greater Baton Rouge, Louisiana. This 200-megawatt plant will be the largest of its kind globally, utilizing B&W’s engineering and technology for a net-negative carbon impact. The facility will support Fidelis’ Grön Fuels project, producing sustainable fuels with a carbon sequestration strategy. B&W aims to leverage its OxyBright technology to capture over 2 million tons of CO2 annually, contributing to clean energy production and further positioning itself in the decarbonization market.
Babcock & Wilcox (NYSE: BW) has joined the UN Global Compact, a corporate sustainability initiative aimed at promoting responsible business practices globally. This partnership reinforces the company's commitment to the Ten Principles of the Global Compact and the UN's Sustainable Development Goals. B&W is recognized for its clean energy solutions and innovative technologies in decarbonization and renewable energy. The Global Compact consists of over 15,000 companies and aims to unite businesses for a better world.
Babcock & Wilcox (BW) reported strong financial results for Q4 and full year 2021, with Q4 revenues of $192.3 million and a net income of $30.2 million. This represents a substantial increase from the previous year. Full year revenues reached $723.4 million, with net income of $31.5 million, up from a prior loss. The company achieved its 2021 adjusted EBITDA target of $70.6 million and reported total bookings of $779 million, a 20.8% increase from 2020. BW anticipates a robust 2022, targeting adjusted EBITDA of $110-120 million, supported by a $7.5 billion project pipeline.
Babcock & Wilcox Enterprises, Inc. (NYSE:BW) will host a conference call on March 8, 2022, at 8 a.m. ET to discuss its fourth quarter and full year 2021 results. The results will be released before the market opens on the same day. The call will be accessible via B&W’s Investor Relations site, and participants can dial in using specific numbers for the U.S., Canada, and other locations. A replay of the call will also be available for a limited time.
Headquartered in Akron, Ohio, B&W specializes in energy and environmental technologies.
Babcock & Wilcox (NYSE: BW) announced a $13 million contract for its Environmental segment to design and supply equipment aimed at mitigating environmental impact from ash at a U.S. power plant. The project will retrofit the existing ash slurry system with a state-of-the-art Allen-Sherman-Hoff® submerged grind conveyor (SGC), addressing zero-discharge bottom ash removal requirements. B&W's Executive VP highlighted the company's capability to support customers transitioning to cleaner power generation.
Babcock & Wilcox (NYSE: BW) has secured a $22 million contract to provide advanced waste-to-energy technology in Asia. This initiative aims to reduce coal dependency and minimize landfill waste by processing 160,000 tons of industrial waste annually through a 440-ton-per-day boiler. The company is focusing on decarbonization and waste management solutions, aligning with global sustainability efforts. The Asia-Pacific segment is expected to continue its growth with increasing opportunities for renewable energy technologies.
Babcock & Wilcox Enterprises, Inc. (NYSE: BW) announced the acquisition of Fossil Power Systems, Inc. (FPS), a leader in combustion technologies, on February 1, 2022. This strategic move aims to enhance B&W's portfolio in sustainable technologies, particularly for hydrogen and renewable energy applications. FPS, based in Dartmouth, Nova Scotia, has a strong history of providing quality combustion equipment globally. The integration is expected to leverage combined expertise for growth in large-scale fuel conversions and after-market services across over 70 countries.
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