Babcock & Wilcox Says YTD Signed Contracts And Awards Total Approximately $500M, Nearly Doubling Total Value Achieved During The Same Period In 2023
Portfolio Pulse from Benzinga Newsdesk
Babcock & Wilcox announced that its year-to-date signed contracts and awards have reached approximately $500 million, nearly doubling the value achieved during the same period in 2023. Consequently, the company has raised its full-year 2024 Adjusted EBITDA target to $105 million to $115 million, up from the previous guidance of $100 million to $110 million, excluding BrightLoop and ClimateBright expenses.
April 10, 2024 | 8:46 pm
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Babcock & Wilcox's significant increase in year-to-date contracts and awards to $500 million and raised EBITDA guidance for 2024 signal strong financial performance and growth prospects.
The substantial increase in signed contracts and awards for Babcock & Wilcox indicates a robust demand for its services, likely leading to increased revenue and profitability. The upward revision of the EBITDA forecast for 2024 further reinforces the company's positive outlook, suggesting a strong growth trajectory. These factors are typically viewed positively by investors and can lead to an increase in stock price in the short term.
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