AKRON, Ohio - Babcock (LON:BAB) & Wilcox Enterprises, Inc. (NYSE: BW), a global leader in energy and environmental technologies and services for the power and industrial sectors, has secured a contract exceeding $13 million. This deal, involving its subsidiary Babcock & Wilcox Canada Corp., is set to provide a North American petroleum refinery with equipment and services aimed at meeting environmental regulations.
Under the agreement, B&W will deliver 18 high-efficiency, low-nitrogen oxides (NOx) burners designed to significantly curtail NOx emissions across three units at the refinery. Additionally, the company is tasked with designing a flue gas recirculation system and supplying fans and other equipment for one of the units to further aid in the reduction of emissions.
Stephen Dutkiewicz, Vice President & General Manager of Thermal Projects at B&W, stated that the supplied technology will modernize the refinery with advanced burners and other technologies, which are crucial for adhering to environmental standards. He emphasized the role of B&W's environmental technologies in supporting the transition to cleaner energy and industrial processes in line with North American emissions goals.
The commencement of equipment supply has been announced, with the scheduled delivery earmarked for the fourth quarter of 2024.
Babcock & Wilcox, headquartered in Akron, Ohio, continues to be at the forefront of providing solutions for power generation and industrial applications worldwide.
This news is based on a press release statement.
InvestingPro Insights
Babcock & Wilcox Enterprises, Inc. (NYSE: BW) has recently secured a significant contract, demonstrating its commitment to environmental technology solutions. The company's latest financial and operational metrics offer a mixed picture, reflecting both challenges and potential growth. According to real-time data from InvestingPro, B&W's market capitalization stands at $116.18 million, indicating a relatively small size in the industry. Despite a notable revenue growth of 30.69% over the last twelve months as of Q3 2023, the company's P/E ratio is in negative territory at -0.79, suggesting that investors are concerned about profitability.
InvestingPro Tips reveal that B&W operates with a significant debt burden and is quickly burning through cash, which are important considerations for investors seeking stable returns. Analysts have also revised their earnings downwards for the upcoming period, which could be indicative of potential headwinds. On the positive side, the stock has seen a significant return over the last week, with a 13.04% price total return, hinting at investor confidence in the company's short-term prospects.
Investors interested in a deeper analysis of B&W's financial health and future outlook can find additional InvestingPro Tips by visiting https://www.investing.com/pro/BW. There are currently 11 more tips available, providing valuable insights that could influence investment decisions. For those considering an InvestingPro subscription, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, enhancing your investment research capabilities.
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