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Jun 30, 2020
Babcock & Wilcox Q2 2020 Earnings Report
Announced second quarter 2020 results and launched a strategic organizational and branding initiative.
Key Takeaways
Babcock & Wilcox Enterprises reported a GAAP loss from continuing operations of $18.1 million for Q2 2020, an improvement of $10.2 million compared to Q2 2019, with consolidated revenues of $135.4 million.
Consolidated revenues were $135.4 million; COVID-19 negatively impacted all segments by delaying anticipated projects
GAAP consolidated operating loss was $7.7 million; GAAP loss from continuing operations was $18.1 million, a $10.2 million improvement compared to second quarter 2019
Consolidated adjusted EBITDA was $1.4 million
Company launched B&W Environmental, B&W Renewable, and B&W Thermal brands as part of a strategic, market-focused organizational and re-branding initiative to accelerate growth
Forward Guidance
B&W expects growth from its expanding global pipeline and improved operational execution to drive significant earnings growth throughout 2021 and beyond.
Positive Outlook
- Company is moving forward with its strategy to achieve long-term growth and leverage market trends.
- Organizational re-alignment and re-branding reflect the mission to provide renewable energy and environmental solutions to customers around the world
- Expanding global pipeline represents over $5 billion of identified project opportunities that we expect to bid in the next 3 years
- Expanding sales and business development team in key international markets, including the Middle East, Africa and Asia-Pacific regions
- Majority of deferred projects to re-mobilize in late 2020 and through 2021
Challenges Ahead
- COVID-19 has negatively affected anticipated bookings and project timing, pushing projects expected to begin in 2020 into 2021 and beyond
- COVID-19 has disrupted business operations, trade, commerce, financial and credit markets, and daily life throughout the world.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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