- 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.
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.
Adam Robinson, B&W’s expert on the oil sands industry, answers some of your frequently asked questions. In describing the geology and challenges of the oil sands region, Adam provides a basic overview of the steam assisted gravity drainage (SAGD) process and how B&W has provided clean and effective technologies for oil extraction and refining.
تقدم شركة Babcock & Wilcox (B&W) حلولاً وخدمات حساسة بيئيًا وتستند إلى التقنية للعملاء في مجال الطاقة والصناعة في أنحاء العالم - بشكل آمن وأخلاقي وحسب الوعد المقدم من الشركة.
