Babcock & Wilcox Enterprises Announces First Quarter 2020 Results

- Company generated consolidated revenues of $148.6 million in the first quarter of 2020 - GAAP consolidated operating income improved by $21.7 million over the prior-year quarter to an operating loss of $10.3 million - Consolidated adjusted EBITDA improved by $5.1 million over the prior-year quarter - Babcock & Wilcox segment adjusted EBITDA improved by 17.2% over the prior-year quarter to $10.7 million - Company successfully completed its financing process, providing a two-year credit extension and additional liquidity (AKRON, Ohio – May 14, 2020) – Babcock & Wilcox Enterprises, Inc. ("B&W Enterprises") (NYSE: BW) announced today first quarter 2020 GAAP loss from continuing operations of $33.5 million, an improvement of $16.3 million compared to a loss of $49.9 million in first quarter 2019. Adjusted EBITDA was a positive $0.7 million, an improvement of $5.1 million compared to negative adjusted EBITDA of $4.4 million in the prior year period, resulting in the Company's fourth consecutive quarter of profitability on an adjusted EBITDA basis.

Babcock & Wilcox to Webcast Discussion of Its First Quarter 2020 Results

(AKRON, Ohio – May 14, 2020) – Babcock & Wilcox Enterprises, Inc. (NYSE:BW) (B&W or the “Company”) expects to host a conference call and webcast on Friday, May 15, 2020 at 8 a.m. ET.

B&W Completes Two-Year Financing Agreement and Credit Extension

  • Extends current revolving credit facility and availability for letters of credit for two years
  • Strengthens capital structure in support of the Company’s long-term operations 

(AKRON, Ohio – May 14, 2020) – Babcock & Wilcox Enterprises, Inc. (NYSE: BW) (“B&W”) announced today that the Company has amended its Credit Agreement, which amendment replaces and supersedes the previously disclosed agreement to refinance the Company’s senior debt by May 15, 2020, among other things. Under the terms of the amended Credit Agreement, the Company's current revolving credit facility and availability for letters of credit will be extended for two years with a maturity date of June 30, 2022.

COVID-19: Prioritizing Health, Safety and Business Continuity

The Babcock & Wilcox Company (B&W) is committed to the health and safety of our employees and their families, as well as our customers, vendors and other stakeholders, and the communities where we have operations.

WHAT'S NEW

New Insertable Smelt Spout Design

Since supplying the first Kraft recovery boiler in 1929, B&W has led the development of many improvements in safer, longer-lasting operation of smelt spout systems for the Pulp & Paper industry.

Our latest innovation is a new, boiler wall-mounted hood enclosure design. It is available for our 15- and 30-degree insertable spouts and incorporates a hood-mounted optimally positioned shatter jet assembly.

 LEARN MORE>

Ignitor Quick Troubleshooting Guide

Many of our customers are not able to have outside support on premises during this time, so to help keep you and your equipment running safely, we wanted to provide you with some “virtual” support for your oil or gas ignitors.

We’ve created a step-by-step troubleshooting guide to walk you through resolving issues with your ignitors either not presenting a flame or not indicating a flame is present. If you’re having an issue with an ignitor, try it out, and if you’re still having trouble, please let us know. Stay safe!

SEE THE GUIDE >

Limestone Forced Oxidation System Upgrades

We continue our series of articles on wet FGD upgrades with a discussion on limestone forced oxidation systems.

Learn how existing absorber systems can be converted to LSFO to produce a stable gypsum byproduct which can be sold for use in the manufacture of wallboard or to the cement industry.

READ THIS ARTICLE >

Factors that Affect ESP Collection Efficiency and Ways to Improve Performance

In Part 1, we reviewed the basics of ESP operation. This new article explores design and operational problems that will negatively affect the collection performance of an ESP. It will also outline potential modifications to help improve performance and efficiency.

READ THIS ARTICLE >

Basics of ESP Operation

An electrostatic precipitator (ESP) is an effective method of particulate collection in power generation applications. Its history dates back to the early 20th century. Of course, technology upgrades to enhance performance have continued for nearly as long. We have prepared a two-part article discussing ESP operation and some of the available upgrades and modifications now available for new and existing installations. Read Part 1 of this series which covers the basics of ESP operation.

READ THIS ARTICLE >

B&W shores up new projects in Bangladesh

There’s no mountain high enough, no valley low enough, and no river wide enough to keep us from trying to find a steam generation system’s ‘fountain of youth’ and restore units to peak performance. 

READ THIS ARTICLE >

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OUR COMPANY

Engineered Solutions 

 

We are Babcock & Wilcox (B&W) -- a company founded in 1867 by two friends with an unwavering commitment to reliable and effective innovation.

When Stephen Wilcox first avowed that “there must be a better way” to safely generate power, he and George Babcock responded with the design for the first inherently safe water-tube boiler, and the company was born.

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