Babcock & Wilcox Q3 2022 revenue up 34% to $214.9M but net loss $20.6M; guides Q4 EBITDA $25-30M

Babcock & Wilcox Enterprises, Inc.

2022-Q3 EPS reported -$0.45 revenue$639,938,000

Revenue $214.9M (+34% YoY); bookings $227M (+31%); backlog $730M (+35%).
Net loss $20.6M vs income $13.6M; loss per share $0.24 vs EPS $0.12; adj EBITDA $13.1M vs $18.9M.
Renewable segment rev $81.7M (+115%) but adj EBITDA fell from $11.4M to $4.5M due to project delays and $7.2M solar impairment.
Targets: Q4 2022 adj EBITDA $25-30M; FY2023 adj EBITDA $100-120M; pipeline $7.8B.
Global supply chain and Ukraine war continue to impact project timing and costs.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Babcock & Wilcox Enterprises, Inc. reported the third quarter ended September 30, 2022 results: revenue $214.9 million, net income $(20.6) million, EPS $(0.24). Guidance initiated.

Period: the third quarter ended September 30, 2022
Revenue: $214.9 million
Net income: $(20.6) million
EPS: $(0.24)
Guidance: initiated
Result: reported results

Exact text from the filing

News Release Babcock & Wilcox Enterprises Reports Third Quarter 2022 Results Q3 2022 Highlights and Outlook: – Revenues of $214.9 million, a 34% improvement compared to the third quarter of 2021 – Net loss of $20.6 million, compared to a net income of $13.6 million in the third quarter of 2021 – Changes in year over year net income primarily relate to several non-recurring and non-operational items which account for $25 million of the change from 2021 – Loss per share of $0.24, compared to earnings per share of $0.12 in the third quarter of 2021 – Bookings of $227 million, a 31% improvement compared to third quarter bookings in 2021 – Ending backlog of $730 million, a 35% increase compared to backlog at the end of the third quarter of 2021 – Expanded pipeline to $7.8 billion of identified global project and upgrade opportunities – Consolidated adjusted EBITDA of $13 .1 million , compared to $18.9 million in the third quarter of 2021 – Fourth Quarter 2022 Adjusted EBITDA target of $25 m

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Source: SEC EDGAR

accession 0001630805-22-000041

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