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Sep 30, 2021
Babcock & Wilcox Q3 2021 Earnings Report
Reported strong results with accelerating bookings entering the fourth quarter.
Key Takeaways
Babcock & Wilcox Enterprises reported better-than-anticipated results for the third quarter of 2021, driven by recent and anticipated bookings, positioning the company for a robust fourth quarter and an even stronger 2022. The company is targeting at least $70 million of adjusted EBITDA for full year 2021 and raised its 2022 adjusted EBITDA target to $110 million to $120 million.
Revenues of $160.0 million
Net income of $13.6 million
Earnings per share of $0.12
New bookings of $194 million in third quarter 2021
Forward Guidance
The company is targeting at least $70 million of adjusted EBITDA for full year 2021 and raised its 2022 adjusted EBITDA target to $110 million to $120 million.
Positive Outlook
- Anticipated fourth quarter 2021 bookings of $250 million to $300 million
- Full-year 2021 bookings at the highest level of annual bookings since 2017
- Ongoing international expansion
- Expanding interest in decarbonization technologies
- Acquisition of Fosler Construction Company Inc.
Challenges Ahead
- Continued adverse effects of COVID-19 on customers
- Global supply chain challenges
- COVID-19 Delta variant impact on customers
- Supply chain disruptions
- Potential reimposition of restrictions due to COVID-19 resurgence
Historical Earnings Impact
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Avg. Return Before/After Earnings
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