B&W Q3 revenue +13% to $239.4M, adj EBITDA $20.0M; strategic realignment with $30M cost savings

Babcock & Wilcox Enterprises, Inc.

2023-Q3 EPS reported -$1.64 revenue$772,187,000

Q3 continuing ops revenue $239.4M (+13% YoY); net loss $12.3M ($0.18 loss per share) vs loss $0.15 prior.
Consolidated adjusted EBITDA $20.0M (up from $13.0M YoY); Thermal segment revenue +17% to $107.0M.
FY2023 adj EBITDA target $85-90M (ex BrightLoop/ClimateBright); FY2024 target $100-110M.
Strategic realignment: annualized cost savings >$30M; refinancing $150M credit facility; evaluating non-strategic asset sales.
Appointed Dr. Naomi Boness to board; Joseph Buckler, SVP Clean Energy, departed effective Nov 6, 2023.

item 2.02 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Joseph Buckler

Senior Vice President, Clean Energy

BW · Babcock & Wilcox Enterprises, Inc.

Effective: 2023-11-06
Filed: November 9, 2023, 6:59 PM ET

the Company and Joseph Buckler, Senior Vice President, Clean Energy of the Company, agreed that Mr. Buckler will depart from the Company effective immediately.

Appointed

Naomi Boness

director

BW · Babcock & Wilcox Enterprises, Inc.

Effective: 2023-11-09
Filed: November 9, 2023, 6:59 PM ET

Dr. Naomi Boness was appointed to the board of directors (the “Board”) of the Company, effective November 9, 2023.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.97

Babcock & Wilcox Enterprises, Inc. reported third quarter ended September 30, 2023 results: revenue $239.4 million, net income Net loss of $12.3 million, EPS Loss per share of $0.18. Guidance lowered.

Period: third quarter ended September 30, 2023
Revenue: $239.4 million
Net income: Net loss of $12.3 million
EPS: Loss per share of $0.18
Guidance: lowered
Result: reported results

Exact text from the filing

regarding non-strategic assets • Announced decision to reclassify B&W Solar out of continuing operations Q3 2023 Continuing Operations Financial Highlights – Revenues of $239.4 million, a 13% improvement compared to the third quarter of 2022 – Net loss of $12.3 million, compared to a net loss of $12.8 million in the third quarter of 2022 – Loss per share of

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 1.0

Joseph Buckler departed as Senior Vice President, Clean Energy at Babcock & Wilcox Enterprises, Inc..

Action: departed
Role: Senior Vice President, Clean Energy

Exact text from the filing

the Company and Joseph Buckler, Senior Vice President, Clean Energy of the Company, agreed that Mr. Buckler will depart from the Company effective immediately.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 1.0

Naomi Boness was appointed as director at Babcock & Wilcox Enterprises, Inc..

Action: appointed
Role: director

Exact text from the filing

Dr. Naomi Boness was appointed to the board of directors (the “Board”) of the Company, effective November 9, 2023.

View on SEC.gov

8 earnings releases filed in the last 30 days. Browse all earnings releases →

Babcock & Wilcox Enterprises, Inc. filing history →

Source: SEC EDGAR

accession 0001630805-23-000027

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