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Babcock & Wilcox
🇺🇸 NYSE:BW
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•
Dec 31, 2023

Babcock & Wilcox Q4 2023 Earnings Report

Babcock & Wilcox's Q4 2023 results were announced, showing a mix of revenue performance and strategic realignment efforts.

Key Takeaways

Babcock & Wilcox reported Q4 2023 revenues of $227.2 million, a net loss of $54.3 million, and adjusted EBITDA of $19.5 million. The company is focused on strategic realignment, cost savings, and developing its BrightLoop and ClimateBright technologies.

Revenues decreased primarily due to the completion of several lower margin renewable projects.

Net loss was $54.3 million, impacted by non-cash pension mark-to-market adjustments.

Adjusted EBITDA was $19.5 million, compared to $21.0 million in the fourth quarter of 2022.

Bookings in the fourth quarter were $250.3 million, compared to $174.0 million in the fourth quarter of 2022.

Total Revenue
$227M
Previous year: $250M
-9.1%
EPS
-$0.22
Previous year: $0.02
-1200.0%
Adjusted EBITDA
$15.4M
Previous year: $26.7
+57677802.6%
Interest Expense
$11.1M
Gross Profit
$55.6M
Previous year: $58.2M
-4.5%
Cash and Equivalents
$71M
Previous year: $114
+62554966.1%
Free Cash Flow
$8.82M
Previous year: $32.5M
-72.8%
Total Assets
$776M
Previous year: $942M
-17.6%

Babcock & Wilcox

Babcock & Wilcox

Babcock & Wilcox Revenue by Segment

Forward Guidance

Babcock & Wilcox anticipates a strong year for new bookings and financial performance in 2024, with high growth potential in the Thermal and Environmental segments. The company is focused on its renewable energy strategy and the development of its BrightLoop technology.

Positive Outlook

  • Expects a strong year for new bookings and financial performance across all segments.
  • Believes Thermal and Environmental segments have the highest growth potential for 2024.
  • Continues developmental efforts around decarbonization and hydrogen generation platform.
  • Focuses on activities required to deploy BrightLoop technology at commercial scale.
  • Awarded $16 million grant from the Wyoming Energy Authority.

Challenges Ahead

  • Faces liquidity challenges arising primarily from losses recognized on B&W Solar loss contracts.
  • Macroeconomic conditions, including inflation and higher interest rates, impact the company.
  • Geopolitical conflicts and global supply chain disruptions continue to have an impact.
  • Cost increases and delays could adversely impact the ability to meet customers’ demands.
  • Uncertainty regarding the duration and scope of market conditions makes it difficult to estimate negative financial impact.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View Babcock & Wilcox