March 17, 2014

B&W REPORTS INCREASED EARNINGS IN FOURTH QUARTER OF 2011

By ExchangeMonitor

Babcock and Wilcox reported a strong fourth quarter in financial results released yesterday, with revenues of $800.8 million, up 13.6 percent from the same quarter in 2010, and an operating income of $93.3 million, or 25 percent more than in that quarter in 2010. Revenues for the full year of 2011 totaled $2,952 million, an increase of 9.8 percent from 2010. But the fourth quarter increase was not as substantial as what the company saw in the third quarter, when it reported $20.7 million in operating income, or 111.2 percent more than the same quarter in 2010, due in part to a number of major Department of Energy contract wins.

B&W officials expect the company’s strong performance to continue into 2012. “As we look forward to 2012, on a consolidated basis, we expect double-digit, year-over-year revenue growth. We expect revenues and operating income in our combined government-related segments to remain stable at approximately current record levels. We expect the combined power-related segments to continue to improve, driven principally by the investment cycle related to recent U.S. Environmental Protection Agency rules, strong project execution and further U.S. nuclear services activity,” President and CEO Brandon Bethards said in a statement. The company will hold a conference call with investors this morning at 8:30.

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