Babcock & Wilcox Enterprises, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
March 14, 2024 at 04:15 pm EDT
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Babcock & Wilcox Enterprises, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 227.2 million compared to USD 236.4 million a year ago. Net loss was USD 62.7 million compared to net income of USD 5.7 million a year ago. Basic loss per share from continuing operations was USD 0.65 compared to USD 0.02 a year ago. Diluted loss per share from continuing operations was USD 0.65 compared to USD 0.02 a year ago. Basic loss per share was USD 0.74 compared to basic earnings per share of USD 0.02 a year ago. Diluted loss per share was USD 0.74 compared to diluted earnings per share of USD 0.02 a year ago.
For the full year, sales was USD 999.4 million compared to USD 847.9 million a year ago. Net loss was USD 197.2 million compared to USD 22.9 million a year ago. Basic loss per share from continuing operations was USD 1.05 compared to USD 0.35 a year ago. Diluted loss per share from continuing operations was USD 1.05 compared to USD 0.35 a year ago. Basic loss per share was USD 2.38 compared to USD 0.43 a year ago. Diluted loss per share was USD 2.38 compared to USD 0.43 a year ago.
Babcock & Wilcox Enterprises, Inc. is a provider of renewable, environmental and thermal technologies for industrial, electrical utility, municipal and other customers. The Company operates through three segments: Babcock & Wilcox Renewable, Babcock & Wilcox Environmental, and Babcock & Wilcox Thermal. Its Babcock & Wilcox Renewable segment offers technologies for environmentally sustainable power and heat generation, including waste-to-energy, biomass-to-energy and black liquor systems for the pulp and paper industry. Its Babcock & Wilcox Environmental segment provides emissions control and environmental technology solutions for utility, waste-to-energy, biomass-to-energy, carbon black, and industrial steam generation applications around the world. Its Babcock & Wilcox Thermal segment provides steam generation equipment, aftermarket parts, construction, maintenance and field services for plants in the power generation, oil and gas, and industrial sectors.