|Over a week ago|
Babcock & Wilcox announces $50M preferred stock offering » 16:1105/0305/03/21
Babcock & Wilcox…
Babcock & Wilcox Enterprises announced the commencement of an underwritten registered public offering of shares of $50M aggregate amount of its Series A Cumulative Perpetual Preferred Stock, par value $0.01 per share with a liquidation preference of $25.00 per share. B&W intends to use the net proceeds of the offering for general corporate purposes, including clean energy growth initiatives, potential future acquisitions and reduction of net leverage. B. Riley Securities is serving as the lead book-running manager for the offering. D.A. Davidson & Co., Janney Montgomery Scott, Ladenburg Thalmann & Co., National Securities Corporation, and William Blair & Company are acting as joint book-running managers for the offering. Kingswood Capital Markets, division of Benchmark Investments, is acting as lead manager for the offering. Aegis Capital Corp., Boenning & Scattergood, Huntington Securities, Incapital, and Wedbush Securities are acting as co-managers for the offering.
Babcock & Wilcox files $350M mixed securities shelf 06:3904/2204/22/21
Babcock & Wilcox sees Q1 EPS (22c), consensus (30c) » 06:3904/2204/22/21
Sees Q1 revenue $168.2M,…
Sees Q1 revenue $168.2M, consensus $131.5M. "Our preliminary Q1 results reflect the ongoing positive impacts of our turnaround efforts and growth strategies, despite the adverse effects of COVID-19 across our segments," said CEO Kenneth Young. "Our Q1 performance positions us well to achieve our adjusted EBITDA targets of $70M-$80M and $95M-$105M, in 2021 and 2022, respectively, taking into account the typical seasonal impacts of cold weather and customers' reduced maintenance outages on Q1 performance, and our normal cyclical performance increase from Q1 through Q4 each year. We ended Q1 well, with roughly $171M in bookings and about $538M in backlog at March 31, 2021. Our strategic actions in the last year, including launching new segments, expanding internationally, implementing additional cost savings initiatives and significantly reducing our secured debt, have provided a strong foundation for the continued execution of our growth strategy," Young continued. "As we pursue a robust pipeline of more than $5B of identified project opportunities over the next three years, in addition to our high-margin parts and services business, our leading-edge waste-to-energy and carbon capture technologies are well-positioned to meet the critical global demand for carbon dioxide and methane reductions."
|Over a month ago|
Babcock & Wilcox segments awarded contracts totaling more than $24M » 06:3103/3103/31/21
Babcock & Wilcox…
Babcock & Wilcox announced that its B&W Renewable, Environmental and Thermal segments are continuing their strategic growth into key regions and have been awarded parts and service contracts totaling more than $24M from customers in Asia, the Middle East, Europe and other key international markets outside of the United States. These contracts, which were awarded during B&W's first quarter, include aftermarket parts and maintenance services for plants in a variety of industries, such as utilities, pulp & paper and manufacturing. Significant orders have come from utility customers in Indonesia and the Middle East, and industrial customers in Latin America and Europe where B&W has been expanding its Sales and Business Development presence and operations since the third quarter of 2020.
Fly Insider: Babcock & Wilcox, Bill.com among weeks notable insider trades » 15:0603/2903/29/21
BW, AIV, DBI, WHLR, BILL, AVGO, CLR, CPRT
Welcome to "Fly Insider,"…
Fly Intel: Top five analyst initiations » 09:5303/2503/25/21
SLQT, BW, GMBL, GPK, VIRX
Catch up on today's…
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. SelectQuote (SLQT) initiated with a Buy at Goldman Sachs. 2. Babcock & Wilcox (BW) initiated with a Buy at DA Davidson and Lake Street. 3. Esports Entertainment (GMBL) initiated with a Buy at Maxim. 4. Graphic Packaging (GPK) initiated with an Overweight at Wells Fargo. 5. Viracta Therapeutics (VIRX) initiated with an Outperform at Evercore ISI. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
Babcock & Wilcox initiated with a Buy at Lake Street » 08:4003/2503/25/21
Lake Street analyst Rob…
Lake Street analyst Rob Brown initiated coverage of Babcock & Wilcox with a Buy rating and $12 price target. The company is in "the final stages of a multi-year turnaround effort" and he believes investors under-appreciate the recent improvement in the capital structure, Brown said. He expects revenue and earnings growth to accelerate given how management has cut costs, restructured the balance sheet, reduced leverage, and refocused on growth markets, Brown added.
Babcock & Wilcox initiated with a Buy at DA Davidson » 05:4403/2503/25/21
DA Davidson analyst Brent…
DA Davidson analyst Brent Thielman initiated coverage of Babcock & Wilcox with a Buy rating and $10 price target. Babcock & Wilcox is an "early-/mid-stage turnaround" as it exits legacy issues and faces an opportunity for a "substantial lift" in sales back toward "normalized" levels, Thielman tells investors in a research note. He believes the company's competitive positions in environmental controls and a "unique" renewables offering offer exposure during broadening regulation and an ESG-push on utilities and customers.
Babcock & Wilcox's B&W Thermal awarded $20M contract » 06:3203/1603/16/21
Babcock & Wilcox…
Babcock & Wilcox announced that its B&W Thermal segment will design, supply and install replacement thermal technologies for a power plant in North America. The contract value is more than $20M. B&W Thermal will design, fabricate and supply a replacement for the unit's primary superheater pendant, a second stage economizer and other equipment to efficiently extend the operating life of the plant's existing technologies. B&W's subsidiary, Babcock & Wilcox Construction Co., LLC, will provide installation services.
B. Riley Securities to hold a virtual conference » 09:0903/1003/10/21
HASI, AMRC, PLUG, FCEL, ADN, SEDG, OEG, ACLS, ROG, XL, LAC, GP, BW, USX, TGAN
Sustainable Energy &…
Sustainable Energy & Technology Virtual Conference will be held on March 9-10. Webcast Link