Babcock & Wilcox ( (BW) ) has released its Q4 earnings. Here is a breakdown of the information Babcock & Wilcox presented to its investors.
Babcock & Wilcox Enterprises, Inc., headquartered in Akron, Ohio, is a leading provider of energy and environmental products and services for power and industrial markets worldwide. The company is known for its innovative technologies in renewable energy, environmental solutions, and thermal services.
In its latest earnings report, Babcock & Wilcox reported a 15% year-over-year increase in fourth-quarter revenue from continuing operations, reaching $200.8 million. The company also announced significant progress in its BrightLoop hydrogen production project and a substantial increase in bookings and backlog for the year 2024.
Key financial highlights include a fourth-quarter operating income of $11.6 million, a significant improvement from the previous year’s loss. Full-year bookings rose by 39% to $889.6 million, while the backlog increased by 47% to $540.1 million. The company also reduced its net loss from continuing operations to $73.0 million for the year, compared to $75.8 million in 2023.
Looking ahead, Babcock & Wilcox remains focused on reducing its overall debt and anticipates returning to positive cash flow in 2025. The company is optimistic about its future growth, driven by strong demand for its technologies and strategic investments in its BrightLoop and ClimateBright platforms.
Overall, Babcock & Wilcox is well-positioned for sustained growth, with management expressing confidence in the company’s ability to capitalize on industry tailwinds and increase its market share in the coming years.