Babcock & Wilcox reports Q4 EPS (65c), consensus (3c)

Reports Q4 revenue $227.2M, consensus $256.27M. “For 2023, revenues across all segments achieved double-digit growth on a year-over-year basis, driven by increased activity and expansion into our key end-markets, particularly in our Environmental segment, which saw a 31% year-over-year increase. Our full year results displayed continued year-over-year improvement in Adjusted EBITDA which was in line with our 2023 Adjusted EBITDA target range, excluding BrightLoop(TM) and ClimateBright(TM),” said Kenneth Young, B&W’s Chairman and Chief Executive Officer. “We continue to make progress in converting our $9.0 billion global pipeline of identified project opportunities to bookings, as shown in the consolidated top-line improvement when compared to last year. We believe these results reflect a strong global demand for our technologies underpinning our pipeline and outlook for sustained growth in 2024 and beyond. Simultaneously, we continue our development, engineering and construction activities around our several BrightLoop projects and are intently focused on our strategic investments to enhance our ClimateBright decarbonization platform and BrightLoop hydrogen generation technology.”