Babcock & Wilcox Enterprises, Inc. (NYSE:BW) Q1 2024 Earnings Conference Call May 9, 2024 5:00 PM ET Company Participants Sharyn Brooks - Director of Communications Kenny Young - Chairman and CEO Lou Salamone - CFO Conference Call Participants Brent Thielman - D.A. Davidson Rob Brown - Lake Street Capital Markets Alex Rygiel - B. Riley Aaron Spychalla - Craig Hallum Operator Good evening. My name is Sierra, and I will be your conference operator today. At this time, I would like to welcome everyone to the c ...

| --- | --- | --- | --- | --- | |---------------------------------------------------------------------------------------------|-------|-------------------------------------|-------|----------| | (in thousands) | | Three Months Ended March 31, \n2024 | | 2023 | | Cash flows from financing activities: | | | | | | Issuance of senior notes | | — | | 8 | | Borrowings on loan payable | | 90,352 | | — | | Repayments on loan payable | | (28,802) | | (1,658) | | Payment of holdback funds from acquisition | | (2,950) ...

Shares of Babcock & Wilcow Enterprises (BW) have been struggling lately and have lost 7.5% over the past week. However, a hammer chart pattern was formed in its last trading session, which could mean that the stock found support with bulls being able to counteract the bears. So, it could witness a trend reversal down the road.The formation of a hammer pattern is considered a technical indication of nearing a bottom with likely subsiding of selling pressure. But this is not the only factor that makes a bulli ...

Investors might want to bet on Babcock & Wilcow Enterprises (BW) , as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 CURRENT REPORT Date of Report (Date of earliest event reported): April 10, 2024 | --- | --- | |-----------------------------------------|-------| | | | | | | | DELAWARE | | | (State or other jurisdiction of | | | incorporation) | | 47-2783641 (IRSEmployerIdentificationNo.) Registrant's Telephone Number, including Area Code: (330) 753-4511 Securities registered pursuant to Section 12(b) of the Act: Emerging growth company ¨ On April 10, ...

Babcock & Wilcox Enterprises, Inc. (NYSE:BW) Q4 2023 Earnings Conference Call March 14, 2024 5:00 PM ET Company Participants Sharyn Brooks - Director of Communications Kenny Young - Chairman & CEO Lou Salamone - CFO Conference Call Participants Aaron Spychalla - Craig-Hallum Rob Brown - Lake Street Capital Markets Brent Thielman - D.A. Davidson Alex Rygiel - B. Riley Securities Operator Good evening. My name is Joel and I will be your conference operator today. At this time, I would like to welcome everyone ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Delaware 47-2783641 (State or other Jurisdiction of Incorporation or Organization) (I.R.S. Employer Identification No.) Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Yes ☐ No ☒ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒ Indicate by check mark whether the registrant (1) has file ...

Revenue Growth and Performance - Revenues from Continued Operations increased 18% Year over Year, reaching $999.4 million in 2023[23] - Full-year 2023 revenues reached $999.4 million, up from $847.9 million in 2022[41] - Total revenues for the year ended December 31, 2023, were $999.4 million, compared to $847.9 million in 2022, representing an increase of 17.9%[48] - Environmental segment revenues increased 31% to $202.9 million in 2023, driven by higher volume in SPIG[9] - Babcock & Wilcox Environmental segment revenues rose to $202.9 million in 2023 from $154.4 million in 2022, a 31.4% increase[48] - Thermal segment revenues increased 20% to $499.2 million in 2023, driven by a large construction project and increased package boiler business[31] - Babcock & Wilcox Thermal segment revenues grew to $499.2 million in 2023 from $415.1 million in 2022, a 20.3% increase[48] - Babcock & Wilcox Renewable segment revenues increased to $318.6 million in 2023 from $288.7 million in 2022, a 10.3% growth[48] Adjusted EBITDA and Financial Metrics - Adjusted EBITDA of $79.1 million in 2023, a 17% increase compared to $67.5 million in 2022[23] - Adjusted EBITDA for the year ended December 31, 2023, was $79.1 million, up from $67.5 million in 2022, reflecting a 17.2% increase[48] - Adjusted EBITDA for the year ended December 2023 was $79.1 million, up from $67.5 million in 2022[66] - Adjusted EBITDA excluding BrightLoop and ClimateBright introduced in Q4 2023 to assess performance independent of these technologies[35] - Adjusted EBITDA excluding BrightLoop and ClimateBright expenses was $84.1 million in 2023, up from $71.8 million in 2022[66] Net Loss and Operating Performance - Net loss of $78.6 million in 2023, including non-cash items of $38.0 million primarily related to pension mark-to-market adjustments[23] - Net loss for Q4 2023 was $62.7 million, compared to a net income of $5.7 million in Q4 2022[41] - Net loss from continuing operations increased to $78.6 million in 2023 from $20.0 million in 2022[62] - Operating income for Q4 2023 was $0.7 million, compared to $6.3 million in Q4 2022[41] Bookings and Backlog - Bookings in 2023 were $878.3 million, a 2% increase compared to full year 2022 bookings[29] - Ending backlog at December 31, 2023 was $530.5 million, a 3% decrease compared to December 31, 2022[29] - Backlog includes expected revenue from contracts with written customer confirmation, subject to cancellation or modification[36] - Bookings represent changes to backlog, including new business, cancellations, and foreign currency revaluation[37] - Backlog for Babcock & Wilcox Renewable increased to $134 million in 2023 from $129 million in 2022[64] Segment Performance - Renewable segment revenues decreased 33% to $62.2 million in Q4 2023, due to strategic shift away from lower margin new build projects[27] - The company is exiting its remaining fixed fee Operational and Maintenance Contract in the Renewable segment, which was completed as of December 31, 2023[55] Research and Development Costs - Research and development costs increased to $5.3 million in Q4 2023 from $1.0 million in Q4 2022[41] - Research and development costs for the year ended December 31, 2023, were $4.0 million, compared to $3.3 million in 2022, a 21.2% increase[48] - Product development expenses increased to $9.0 million in 2023 from $4.1 million in 2022[66] - BrightLoop and ClimateBright expenses totaled $12.0 million in 2023, up from $6.4 million in 2022[66] Financial Position and Liabilities - Total current assets decreased to $497.6 million as of December 31, 2023, from $557.6 million in 2022, a decline of 10.8%[43] - Total liabilities increased to $976.0 million as of December 31, 2023, from $943.8 million in 2022, a 3.4% rise[43] - The company's total stockholders' deficit increased to $200.4 million as of December 31, 2023, from $2.1 million in 2022[43] - Borrowings on loan payable increased to $252.5 million in 2023 from $7.2 million in 2022[63] - Repayments on loan payable were $226.6 million in 2023 compared to $16.9 million in 2022[63] Cash Flow and Investments - Net cash used in operating activities was $42.3 million in 2023 compared to $30.6 million in 2022[62] - Net cash used in investing activities decreased to $7.9 million in 2023 from $68.8 million in 2022[62] Strategic Initiatives and Opportunities - Company completed a new $150 million Senior Secured Credit Facility, expected to reduce interest cost by up to $5 million per year[2][11] - Pipeline expanded to over $9.0 billion in identified global project opportunities, including over $1.5 billion in BrightLoop and ClimateBright opportunities[2] Forward-Looking Statements and Risks - Forward-looking statements highlight risks including global macroeconomic conditions, integration of acquisitions, and refinancing of senior debt[38] - The company is unable to reconcile future Adjusted EBITDA targets to GAAP counterparts without unreasonable effort[35]

AKRON, Ohio--(BUSINESS WIRE)--Babcock & Wilcox Enterprises, Inc. (B&W) (NYSE: BW) announced today that its subsidiary, Babcock & Wilcox Canada Corp. (B&W Canada), has been awarded a contract for more than $13 million to supply equipment and design and engineering services to help a petroleum refinery in North America comply with environmental regulations. B&W will supply 18 high-efficiency, low-NOx burners for the reduction of nitrogen oxides (NOx) emissions for three units at the plant. B&W will also de ...

AKRON, Ohio--(BUSINESS WIRE)--Babcock & Wilcox Enterprises, Inc. (B&W) (NYSE: BW) announced today that its subsidiary, Babcock & Wilcox Solar Energy, Inc. (B&W Solar), has been awarded contracts by Cypress Creek Renewables, LLC to implement three utility-scale photovoltaic solar power installations totaling 75 megawatts in western Pennsylvania. When complete, each solar installation will be capable of generating approximately 25 megawatts of clean, zero-carbon energy – enough to power around 10,000 homes ...