Babcock & Wilcox Enterprises, Inc. (BW) Financial Statements (2024 and earlier)

Company Profile

Business Address 1200 E. MARKET STREET, SUITE 650
AKRON, OH 44305
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 3433 - Heating Equipment, Except Electric and Warm Air Furnaces (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments76,728224,87457,33843,77243,21456,667
Cash and cash equivalents76,728224,87457,33843,77243,21456,667
Restricted cash and investments15,335     
Receivables162,461132,068128,317142,201197,203297,504
Inventory, net of allowances, customer advances and progress billings102,63779,52767,16163,10361,32382,162
Inventory102,63779,52767,16163,10361,32382,162
Contract with customer, asset, after allowance for credit loss134,93980,17659,30891,579144,727
Disposal group, including discontinued operation      
Asset, held-for-sale, not part of disposal group   4,7288,089  
Costs in excess of billings161,220
Other current assets27,00229,39526,42127,04441,42535,554
Other undisclosed current assets38,51036,39445,52736,43261,72799,150
Total current assets:557,612582,434388,800412,220549,619732,257
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization 24,35228,57528,47730,392
Operating lease, right-of-use asset29,43830,16310,81412,498
Property, plant and equipment62,01157,05256,60166,66190,892141,931
Long-term investments and receivables     11,60349,390
Long-term investments     11,60343,278
Accounts and financing receivable, after allowance for credit loss      6,112
Intangible assets, net (including goodwill), including:217,286160,25723,90825,30030,79376,780
Goodwill156,993116,46247,36347,16047,108204,398
Intangible assets, net (excluding goodwill)60,29343,79523,90825,30030,79376,780
Other undisclosed intangible assets, net (including goodwill)   (47,363)(47,160)(47,108)(204,398)
Restricted cash and investments21,397     
Deferred income tax assets    
Other noncurrent assets30,55954,78424,67324,96627,08525,759
Other undisclosed noncurrent assets  58,51954,48235,505296,112
Total noncurrent assets:385,043330,831202,992214,299195,878589,972
TOTAL ASSETS:942,655913,265591,792626,519745,4971,322,229
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities207,403153,303169,131197,017341,350354,923
Employee-related liabilities12,98913,90618,25619,31930,153
Accounts payable139,15985,92973,481109,913199,882225,234
Accrued liabilities68,24454,38581,74468,848122,14999,536
Deferred revenue133,42968,38064,00275,287
Debt5,47114,825886108,238 103,473
Disposal group, including discontinued operation      
Contract with customer, liability149,367
Other undisclosed current liabilities25,69616,87536,813221,952221,272285,931
Total current liabilities:371,999253,383270,832602,494711,989744,327
Noncurrent Liabilities
Long-term debt and lease obligation40,67957,597384,35138,842  
Long-term debt, excluding current maturities13,1971,543347,630   
Finance lease, liability27,48229,36929,69030,454
Liabilities, other than long-term debt196,568217,297274,871280,122310,805292,899
Deferred income tax liabilities10,054   
Liability, pension and other postretirement and postemployment benefits136,176182,730252,292259,272281,647256,390
Other liabilities23,75534,56722,57920,85029,15836,509
Operating lease, liability26,58326,6857,0318,388
Other undisclosed noncurrent liabilities335,498326,366   94,300
Total noncurrent liabilities:572,745601,260659,222318,964310,805387,199
Total liabilities:944,744854,643930,054921,4581,022,7941,131,526
Equity
Equity, attributable to parent, including:(2,574)33,149(339,366)(296,356)(286,126)182,103
Preferred stock7777    
Common stock5,1385,1104,7844,6991,748499
Treasury stock, value(113,753)(110,934)(105,990)(105,707)(105,590) 
Additional paid in capital1,537,6251,518,8721,164,4361,142,6141,047,062800,968
Accumulated other comprehensive income (loss)(72,786)(58,822)(52,390)1,926(11,432)(22,429)
Accumulated deficit(1,358,875)(1,321,154)(1,350,206)(1,339,888)(1,217,914)(492,150)
Other undisclosed equity, attributable to parent      (104,785)
Equity, attributable to noncontrolling interest48525,4731,1041,4178,8298,600
Total equity:(2,089)58,622(338,262)(294,939)(277,297)190,703
TOTAL LIABILITIES AND EQUITY:942,655913,265591,792626,519745,4971,322,229

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues889,815723,363566,317859,1111,062,3881,557,735
Cost of revenue(704,192)(543,835)(400,465)(698,853)(1,192,032)(1,457,857)
Gross profit:185,623179,528165,852160,258(129,644)99,878
Operating expenses(176,907)(154,897)(160,111)(165,637)(286,014)(269,214)
Other undisclosed operating loss(12,897)(3,810)(7,478)(24,003)(10,942)(112,229)
Operating income (loss):(4,181)20,821(1,737)(29,382)(426,600)(281,565)
Nonoperating income (expense)(11,340)8,493(2,181)(95,065)(129,201)(32,634)
Investment income, nonoperating641531646923244510
Gain (loss), foreign currency transaction, before tax(582)(4,294)58,799(16,602)(28,542) 
Net periodic defined benefits expense (reversal of expense), excluding service cost component37,52848,142   
Other nonoperating income (expense)(3,944)(1,270)(1,128)285259(6,839)
Interest and debt expense(44,983)6,530(6,194)(3,969)(49,241)(26,305)
Income (loss) from continuing operations before equity method investments, income taxes:(60,504)35,844(10,112)(128,416)(605,042)(340,504)
Other undisclosed income (loss) from continuing operations before income taxes44,983(6,530)6,1943,96949,24126,305
Income (loss) from continuing operations before income taxes:(15,521)29,314(3,918)(124,447)(555,801)(314,199)
Income tax expense (benefit)(11,063)2,224(8,179)(5,286)(102,224)(64,816)
Income (loss) from continuing operations:(26,584)31,538(12,097)(129,733)(658,025)(379,015)
Income (loss) before gain (loss) on sale of properties:30,938(10,297)(129,039)(724,857)(379,015)
Income (loss) from discontinued operations (600)1,800694(66,832) 
Other undisclosed net income (loss) 600    
Net income (loss):(26,584)31,538(10,297)(129,039)(724,857)(379,015)
Net income (loss) attributable to noncontrolling interest3,723(644)(21)7,065(435)809
Other undisclosed net loss attributable to parent      (1,618)
Net income (loss) attributable to parent:(22,861)30,894(10,318)(121,974)(725,292)(379,824)
Preferred stock dividends and other adjustments(14,860)(9,127)    
Net income (loss) available to common stockholders, basic:(37,721)21,767(10,318)(121,974)(725,292)(379,824)
Dilutive securities, effect on basic earnings per share     700400
Net income (loss) available to common stockholders, diluted:(37,721)21,767(10,318)(121,974)(724,592)(379,424)

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income (loss):(26,584)31,538(10,297)(129,039)(724,857)(379,015)
Other comprehensive income (loss)(13,964)(6,432)(54,316)13,35810,99714,053
Comprehensive income (loss):(40,548)25,106(64,613)(115,681)(713,860)(364,962)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest3,852(595)(29)7,140(229)(778)
Other undisclosed comprehensive income, net of tax, attributable to parent      
Comprehensive income (loss), net of tax, attributable to parent:(36,696)24,511(64,642)(108,541)(714,089)(365,740)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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