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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
Babcock & Wilcox
Babcock & Wilcox
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
- Global shipping and supply chain disruptions
- Cost increases and delays or disruptions