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Sep 30, 2024
Babcock & Wilcox Q3 2024 Earnings Report
Babcock & Wilcox announced third quarter results, reporting improved margin performance and progress on strategic sales and debt refinancing.
Key Takeaways
Babcock & Wilcox reported Q3 2024 results with revenue of $209.9 million and a net loss of $11.1 million. The company highlighted improved margin performance and progress on strategic sales and debt refinancing. Adjusted EBITDA was $22.3 million.
Announced divestiture of two assets to improve balance sheet and support future growth
Total YTD implied bookings of $810.5 million, including $543.9 million of bookings, a 27% increase compared to same period of 2023
Excluding divestitures, announced implied backlog of $628.2 million, which includes $361.6 million of backlog, a 48% increase compared to the same period of 2023
Received final approval to proceed on a previously announced $246 million natural gas conversion project in Indiana as of November 2024
Forward Guidance
The company expects increasing operating momentum driven by its Thermal and Environmental segments, as the fourth quarter is historically a seasonally strong period for B&W’s businesses, with increased services and project schedules from our customers.
Positive Outlook
- Increasing operating momentum driven by Thermal and Environmental segments
- Fourth quarter is historically a seasonally strong period for B&W’s businesses
- Increased services and project schedules from customers
- Business as a whole prior to divestitures is on target to achieve stated goals in 2024
- Global pipeline of over $9 billion in identified project opportunities remains healthy across all business segments
Challenges Ahead
- Impacts from inflation
- Changing interest rates and foreign exchange rate volatility
- Geopolitical conflicts
Historical Earnings Impact
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Avg. Return Before/After Earnings
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