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)
| 3/31/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 65,335 | 76,728 | 224,874 | 57,338 | 43,772 | 43,214 | |||
| Cash and cash equivalents | 65,335 | 76,728 | 224,874 | 57,338 | 43,772 | 43,214 | |||
| Restricted cash and investments | 5,737 | 15,335 | |||||||
| Receivables | 144,016 | 162,461 | 132,068 | 128,317 | 142,201 | 197,203 | |||
| Inventory, net of allowances, customer advances and progress billings | 113,890 | 102,637 | 79,527 | 67,161 | 63,103 | 61,323 | |||
| Inventory | 113,890 | 102,637 | 79,527 | 67,161 | 63,103 | 61,323 | |||
| Contract with customer, asset, after allowance for credit loss | 90,054 | 134,939 | 80,176 | 59,308 | 91,579 | 144,727 | |||
| Disposal group, including discontinued operation | 18,495 | ||||||||
| Asset, held-for-sale, not part of disposal group | 4,728 | 8,089 | |||||||
| Other current assets | 23,918 | 27,002 | 29,395 | 26,421 | 27,044 | 41,425 | |||
| Other undisclosed current assets | 36,148 | 38,510 | 36,394 | 45,527 | 36,432 | 61,727 | |||
| Total current assets: | 497,593 | 557,612 | 582,434 | 388,800 | 412,220 | 549,619 | |||
| Noncurrent Assets | |||||||||
| Finance lease, right-of-use asset, after accumulated amortization | 22,378 | 24,352 | 28,575 | 28,477 | 30,392 | ✕ | |||
| Operating lease, right-of-use asset | 28,192 | 29,438 | 30,163 | 10,814 | 12,498 | ✕ | |||
| Property, plant and equipment | 55,991 | 62,011 | 57,052 | 56,601 | 66,661 | 90,892 | |||
| Long-term investments and receivables | 11,603 | ||||||||
| Long-term investments | 11,603 | ||||||||
| Intangible assets, net (including goodwill), including: | 147,583 | 217,286 | 160,257 | 23,908 | 25,300 | 30,793 | |||
| Goodwill | 101,956 | 156,993 | 116,462 | 47,363 | 47,160 | 47,108 | |||
| Intangible assets, net (excluding goodwill) | 45,627 | 60,293 | 43,795 | 23,908 | 25,300 | 30,793 | |||
| Other undisclosed intangible assets, net (including goodwill) | (47,363) | (47,160) | (47,108) | ||||||
| Restricted cash and investments | 297 | 21,397 | |||||||
| Deferred income tax assets | 2,105 | ✕ | |||||||
| Other noncurrent assets | 21,559 | 30,559 | 54,784 | 24,673 | 24,966 | 27,085 | |||
| Other undisclosed noncurrent assets | 58,519 | 54,482 | 35,505 | ||||||
| Total noncurrent assets: | 278,105 | 385,043 | 330,831 | 202,992 | 214,299 | 195,878 | |||
| TOTAL ASSETS: | 775,698 | 942,655 | 913,265 | 591,792 | 626,519 | 745,497 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 195,581 | 207,403 | 153,303 | 169,131 | 197,017 | 341,350 | |||
| Employee-related liabilities | ✕ | ✕ | ✕ | 12,989 | 13,906 | 18,256 | 19,319 | ||
| Accounts payable | 127,491 | 139,159 | 85,929 | 73,481 | 109,913 | 199,882 | |||
| Accrued liabilities | 68,090 | 68,244 | 54,385 | 81,744 | 68,848 | 122,149 | |||
| Deferred revenue | 81,098 | 133,429 | 68,380 | 64,002 | 75,287 | ✕ | |||
| Debt | 7,541 | 5,471 | 14,825 | 886 | 108,238 | ||||
| Disposal group, including discontinued operation | 43,614 | ||||||||
| Contract with customer, liability | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 149,367 | ||
| Other undisclosed current liabilities | 22,363 | 25,696 | 16,875 | 36,813 | 221,952 | 221,272 | |||
| Total current liabilities: | 350,197 | 371,999 | 253,383 | 270,832 | 602,494 | 711,989 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 61,648 | 40,679 | 57,597 | 384,351 | 38,842 | ||||
| Long-term debt, excluding current maturities | 35,442 | 13,197 | 1,543 | 347,630 | |||||
| Finance lease, liability | 26,206 | 27,482 | 29,369 | 29,690 | 30,454 | ✕ | |||
| Liabilities, other than long-term debt | 226,334 | 196,568 | 217,297 | 274,871 | 280,122 | 310,805 | |||
| Deferred income tax liabilities | 12,991 | 10,054 | ✕ | ||||||
| Liability, pension and other postretirement and postemployment benefits | 172,911 | 136,176 | 182,730 | 252,292 | 259,272 | 281,647 | |||
| Other liabilities | 15,082 | 23,755 | 34,567 | 22,579 | 20,850 | 29,158 | |||
| Operating lease, liability | 25,350 | 26,583 | 26,685 | 7,031 | 8,388 | ✕ | |||
| Other undisclosed noncurrent liabilities | 337,869 | 335,498 | 326,366 | ||||||
| Total noncurrent liabilities: | 625,851 | 572,745 | 601,260 | 659,222 | 318,964 | 310,805 | |||
| Total liabilities: | 976,048 | 944,744 | 854,643 | 930,054 | 921,458 | 1,022,794 | |||
| Equity | |||||||||
| Equity, attributable to parent | (200,961) | (2,574) | 33,149 | (339,366) | (296,356) | (286,126) | |||
| Preferred stock | 77 | 77 | 77 | ||||||
| Common stock | 5,148 | 5,138 | 5,110 | 4,784 | 4,699 | 1,748 | |||
| Treasury stock, value | (115,164) | (113,753) | (110,934) | (105,990) | (105,707) | (105,590) | |||
| Additional paid in capital | 1,546,281 | 1,537,625 | 1,518,872 | 1,164,436 | 1,142,614 | 1,047,062 | |||
| Accumulated other comprehensive income (loss) | (66,361) | (72,786) | (58,822) | (52,390) | 1,926 | (11,432) | |||
| Accumulated deficit | (1,570,942) | (1,358,875) | (1,321,154) | (1,350,206) | (1,339,888) | (1,217,914) | |||
| Equity, attributable to noncontrolling interest | 611 | 485 | 25,473 | 1,104 | 1,417 | 8,829 | |||
| Total equity: | (200,350) | (2,089) | 58,622 | (338,262) | (294,939) | (277,297) | |||
| TOTAL LIABILITIES AND EQUITY: | 775,698 | 942,655 | 913,265 | 591,792 | 626,519 | 745,497 | |||
Income Statement (P&L) ($ in thousands)
| 3/31/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 999,354 | 889,815 | 723,363 | 566,317 | 859,111 | 1,062,388 | ||
| Cost of revenue | (775,267) | (704,192) | (543,835) | (400,465) | (698,853) | (1,192,032) | ||
| Gross profit: | 224,087 | 185,623 | 179,528 | 165,852 | 160,258 | (129,644) | ||
| Operating expenses | (190,578) | (176,907) | (154,897) | (160,111) | (165,637) | (286,014) | ||
| Other undisclosed operating loss | (13,610) | (12,897) | (3,810) | (7,478) | (24,003) | (10,942) | ||
| Operating income (loss): | 19,899 | (4,181) | 20,821 | (1,737) | (29,382) | (426,600) | ||
| Nonoperating income (expense) | (90,051) | (11,340) | 8,493 | (2,181) | (95,065) | (129,201) | ||
| Investment income, nonoperating | 1,192 | 641 | 531 | 646 | 923 | 244 | ||
| Gain (loss), foreign currency transaction, before tax | (2,507) | (582) | (4,294) | 58,799 | (16,602) | (28,542) | ||
| Net periodic defined benefits expense (reversal of expense), excluding service cost component | (37,505) | 37,528 | 48,142 | |||||
| Other nonoperating income (expense) | (1,336) | (3,944) | (1,270) | (1,128) | 285 | 259 | ||
| Interest and debt expense | (49,895) | (44,983) | 6,530 | (6,194) | (3,969) | (49,241) | ||
| Income (loss) from continuing operations before equity method investments, income taxes: | (120,047) | (60,504) | 35,844 | (10,112) | (128,416) | (605,042) | ||
| Other undisclosed income (loss) from continuing operations before income taxes | 49,895 | 44,983 | (6,530) | 6,194 | 3,969 | 49,241 | ||
| Income (loss) from continuing operations before income taxes: | (70,152) | (15,521) | 29,314 | (3,918) | (124,447) | (555,801) | ||
| Income tax expense (benefit) | (8,481) | (11,063) | 2,224 | (8,179) | (5,286) | (102,224) | ||
| Income (loss) from continuing operations: | (78,633) | (26,584) | 31,538 | (12,097) | (129,733) | (658,025) | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | 30,938 | (10,297) | (129,039) | (724,857) | |
| Income (loss) from discontinued operations | (600) | 1,800 | 694 | (66,832) | ||||
| Other undisclosed net income (loss) | (118,338) | 600 | ||||||
| Net income (loss): | (196,971) | (26,584) | 31,538 | (10,297) | (129,039) | (724,857) | ||
| Net income (loss) attributable to noncontrolling interest | (237) | 3,723 | (644) | (21) | 7,065 | (435) | ||
| Net income (loss) attributable to parent: | (197,208) | (22,861) | 30,894 | (10,318) | (121,974) | (725,292) | ||
| Preferred stock dividends and other adjustments | (14,858) | (14,860) | (9,127) | |||||
| Net income (loss) available to common stockholders, basic: | (212,066) | (37,721) | 21,767 | (10,318) | (121,974) | (725,292) | ||
| Dilutive securities, effect on basic earnings per share | 700 | |||||||
| Net income (loss) available to common stockholders, diluted: | (212,066) | (37,721) | 21,767 | (10,318) | (121,974) | (724,592) | ||
Comprehensive Income ($ in thousands)
| 3/31/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (196,971) | (26,584) | 31,538 | (10,297) | (129,039) | (724,857) | ||
| Other comprehensive income (loss) | 6,425 | (13,964) | (6,432) | (54,316) | 13,358 | 10,997 | ||
| Comprehensive income (loss): | (190,546) | (40,548) | 25,106 | (64,613) | (115,681) | (713,860) | ||
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | (127) | 3,852 | (595) | (29) | 7,140 | (229) | ||
| Other undisclosed comprehensive income, net of tax, attributable to parent | ||||||||
| Comprehensive income (loss), net of tax, attributable to parent: | (190,673) | (36,696) | 24,511 | (64,642) | (108,541) | (714,089) | ||
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.