- Power segment in line with expectations; improves gross profit margin
- Industrial segment achieves strong revenue growth from acquisition
- Renewable segment enhancing execution model; takes charge on ongoing projects
(CHARLOTTE, N.C. – February
28, 2017) – Babcock & Wilcox Enterprises, Inc. (B&W) (NYSE:BW)
announced today fourth quarter 2016 revenues of $380.0 million, a decrease of
or 24.4%, compared to the fourth quarter of 2015. GAAP earnings per share for
the fourth quarter of 2016 were a loss of $1.47 compared to a loss per share of
$0.10 for the fourth quarter of 2015. Adjusted earnings per share, which
exclude the gain on sale of an equity method investment, non-cash
mark-to-market adjustments for pension and other post-retirement benefits,
acquisition and integration costs, litigation charges, restructuring
activities, and spin-off transaction costs, were a loss of $1.60 for the three
months ended December 31, 2016 compared to adjusted earnings per share of
$0.47 in the prior year period.
B&W Acquires Universal Acoustic & Emission Technologies, Inc.
Synergistic bolt-on to industrial segment
Expands natural gas end-market exposure
(CHARLOTTE, N.C. – January 11, 2017) – Babcock & Wilcox Enterprises, Inc. (B&W) (NYSE:BW) has acquired Universal Acoustic & Emission Technologies, Inc. (UniversalAET), a Wisconsin-based provider of custom-engineered acoustic, emission and filtration solutions, effective today.
B&W Awarded Contract to Replace Boiler at Ontario Steel Mill
(CHARLOTTE, N.C. – January 6, 2017) – Babcock & Wilcox Enterprises, Inc. (NYSE:BW) announced today that its subsidiary, The Babcock & Wilcox Company (B&W), has been awarded a contract to supply and install a replacement boiler for ArcelorMittal Dofasco’s Hamilton, Ontario, steel manufacturing plant.
B&W Subsidiary Awarded $35 Million Contract for Boiler for Sweden Waste to Energy Plant
(CHARLOTTE, N.C. – December 21, 2016) – Babcock & Wilcox Enterprises, Inc. (B&W) (NYSE:BW) announced today that its Denmark-based subsidiary, Babcock & Wilcox Vølund A/S (B&W Vølund), has been awarded a contract for approximately $35 million to design, supply and construct a waste-to-energy boiler for a combined heat and power plant in Boden, Sweden.