Earnings call transcript Q4 2022

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Hello, everyone and welcome to the Babcock and Wilcox Q4 and Full-Year 2022 Earnings Conference Call. My name is Emily and I'll be coordinating your call today. [Operator Instructions]

I will now turn the call over to our host, Sharyn Brooks; Director of Communications. Please go ahead.

Sharyn Brooks

thanks Enterprises for XXXX fourth call. and Babcock us earnings Emily Wilcox and quarter you, to joining everyone on conference Thank and full-year Sharyn I'm of Director Brooks, Communications.

Chief are Officer Financial discuss our full-year B&W's call Salamone, and to Kenny quarter results. the and Lou today Chairman Joining and XXXX Executive fourth Officer; Chief Young,

at for will can During this press subject Annual close make in risks the March found uncertainties, release and we safe to set our forward-looking. and Report forth on that the of our market. end earnings with tomorrow, be call, in Form be will SEC certain after the our XX-K forward-looking harbor the XXXX provision including be that statements XX, are These statements of filed those statements

no required update Additionally, by to statements. undertake we law, obligation as forward-looking any except

posted considered We historical our Form should fourth this can in at company provided our accordance certain published of with on also GAAP. the found measures. a A presentation comparable and reconciliation GAAP targeted be to in regarding non-GAAP information results this provide full the to on supplement our section and substitute for Relations in superior of non-GAAP measures our filed earnings historical morning, year and be and morning Investor of babcock.com. This the quarter or overview as information results release X-K not website

Kenny. now will I the to over call turn

Kenny Young

our XXXX opportunities, basis, generated pipeline us of We good BrightLoop around technologies, new production morning, for disruptions, our for a full-year targets. to quarter Despite XXXX. and operator to a backlog ongoing sequential revised our and very and results, and had and EBITDA, especially XXXX increased significantly technologies. near-term of reach hydrogen us our full our to opportunities & expanding target as with Sharyn. enabled adjusted Thanks, supply our We quarter renewable headwinds Wilcox and Babcock chain year clean strong which our as improved position for seasonally call. EBITDA Thanks, everyone, fourth thanks on joining EBITDA and earnings fourth energy the well opportunities quarter environmental and achieve the strong

compared $XXX in which our increased and were in XX% in-line fourth million, quarter bookings strong fourth bookings were XXXX with quarterly to the year. Revenues our the quarter prior

for increased XXXX. Our annual since XX%, year just bookings a year-over-year Revenues $XXX set the results million XXXX significant. and for our were record of new as highs

and our leading projects agreements In addition, further to and announced augment we booked companies build new seven waste-to-energy market XXXX, number a of in applications BrightLoop, renewable of several with SolveBright technologies. OxyBright

Although, $XXX a for performance execute the backlog strategy with our the parts and global and our our billion to and ending an and of million, by end increase backlog quality impacted and against continue $X to market XXXX. long-term chain projects, compared strategic progress year revenues. of conditions, pipeline And of we not growth supply remember, standard service include our expanded an XX% does was

backlog see full and an We demand momentum, reinforces our coupled for significant booking strong and segments, of to all performance look improved growth customer business forward which with we conviction year. the continued our throughout across XXXX, year

$XXX reiterate for visibility million full we adjusted current our opportunities, target EBITDA $XXX our XXXX booking year Given new of million. to

where factors. have range we that of quarters, several of labor respect industry-wide availability and limit of chain these strategic shortages headwinds still initiatives to materials, had bottlenecks the possible. broad While recent among suppliers pressures In have negative worked impact modified expand strategies raw to our and alternative qualification fabrication other with to to sourcing of capabilities mitigate remain, have global industry and we supply challenges the the impacts implemented a

team's our be the can further operational to while global continue performance. proud where proactively level challenges, ability highest the to to improvements implemented, maintaining react in our chain we supply we of While and of evaluate present are regional

the technologies solutions generation customers remain priority. necessary load our providing top to meet energy thermal on focus and Our their services with for clean growing and demands base

fourth in serves our awards also quarter, ash we confidence segment, testament two announced significant our our a the emission as in In technologies. contract which handling control to and customers Environmental

B&W first in industrial control supply emission petroleum Environmental valued over auxiliary STR's select North catalytic reduction two at same The included systems two America. a to boilers, and control the of Under contract for oxide refinery advanced $XX supply million technologies that package equipment contract, nitrogen emissions. will

emission of America, $XX leveraging plant plant, supply ash second design to included our handling Allen-Sherman-Hoff meet plant the the million ensuring supply Effluent over project. technologies Limitation to the with two and grind for will requirements. four is the The design, a conveyors environmental compliance residuals systems, operator and conveying assist manufacture and B&W reducing also that impact tube equipment coal other requirements and submerged valued and and supply for and Environmental combustion power of STC contract or conveyors are designed at North state-of-the-art in ELG Guidelines, the

instrumental to installation awards for an environmental services follow construction including made a project upgrade provide two U.S. very last in $XX and announcements quarter, These here we contract million the contract

energy. revenues SolveBright console segment based environmental solution thermal. the of with In capture a we two-thirds award addition the the goal for brings business our and validation and pleased contract being B&W and environmental renewable, carbon application to one-third study achieved to Overall, ultimate growth pipeline are it our to solvent has and progress, of dioxide

the one the in this Infrastructure Partners we stock plan addition, million and the on a relationships our This of Copenhagen UK with Environmental plants waste-to-energy FCC to recently in to In energy is Services. low just largest year, provide technologies Kingdom. renewable strongly and reflect waste-to-energy and $XX announced United contract sustainable environmental

The made funding advanced respect demonstrations be possible for will legislation clean historic to potentially been and funding pursue from announce contained the historic through number projects, collaborating With appropriations a benefit clean and are customers energy the to by with President $X.X partners energy including solutions. packages industry clean excited energy signed opportunities would energy we of capture, carbon the generation, has passed, for trillion that B&W's supportive that provided and are hydrogen we by to projects advanced spending package opportunities methane Biden. recently renewable mitigation, that

The a Department spending to the Department commercial of our demonstration or appropriations directs customers, of look projects. clean we using that natural specific and can language technologies for discussions forward with of to and innovative Energy to includes transition essential ways package the representatives we utilizing Energy in those the is provide explore from production advancing U.S. developed, accelerate which support biomass partners coal energy looping, and gas. chemical This significant accomplishment hydrogen

abatement, a proven suite energy controls. decarbonization and B&W diverse to technologies hydrogen, capture, environmental renewable deploy has and energy decarbonization, emission of methane that COX ready and renewable are including

Global Our BrightLoop sustainability application, drive the technology innovative to and to evaluate zero utilizing by with commitment produce reinforced our is recently further to hydrogen. clean carbon our Industries Fidelis collaboration announced Chart Alliance with intensity

Industries, potential developing deploy the cost liquid B&W Chart's sales equipment. were utilizing transportable carbon strategies and further Through technology for dioxide, commercial BrightLoop of hydrogen while hydrogen forms and and to carbon capture effective and Chart hydrogen collaboration carbon hydrogen The liquefaction its provide aims generation with customers. marketing low partnership

Global advancing bubbling scalability of look Chart clean the forward We Alliance innovative technology Fidelis and using to B&W's applications boiler fluidized are and production to on excited industry with full Fidelis's the hydrogen, to partner that per Fidelis hydrogen produce credit. and kilogram, offer. BrightLoop partnership $X qualify has Reduction our bed with focuses technology gas The under The the proprietary HX intensity to zero the required for from aims Act threshold technologies. carbon hydrogen natural tax Inflation XXB production meets the to

to supportive further and our renewable our We industry ultimately legislation Decarbonization to these further diversify forward environmental look carbon at and and technologies solutions deploying scale, capture suite platform ClimateBright our business. leveraging developing of

I'll year fourth discuss to now the turn the XXXX. of the details Lou quarter financial over Lou? full and call the to

Lou Salamone

Kenny. Thanks,

year XXXX First, then I'll going to to over our results. turn and quarter I'm our review fourth XXXX results, full

refer we I further SEC to the XX your can that XX-K the details, to the and file you here what for with it we the For close our in March today. of call tomorrow call after beyond discussed will this market further detail, fact attention

that's million of XXXX. Renewable expanded and and in acquisitions due Kenny to the level XXXX activity for Our mentioned COVID-XX, compared improvement well consolidated higher as closed XX% segments, were improvement a to strategies of impact geographic primarily revenues $XXX.X continued our our was a presence the The and and as the Environmental second improved in XXXX. to we mitigate of as half

million compared with net non-cash tax to net XXXX $XX.X items of non-cash respect XXXX, approximately mark-to-market income benefits. 'XX were pension was benefits non-cash primarily income included -- The related which and which in $XX.X to million, which items included $XX.X of in items to million loss

were revised We with XXXX adjusted more December $X.X $XXX a to million was a in million income at year target the XX% XXXX XXXX. adjusted $XXX This XXXX XXXX. GAAP of XX, is compared increase EBITDA compared operating an to XXXX. reaching increase operating since XX% in to highest loss as the our prior $XX.X year million in $XX was in million Total compared million, an compared annual to level of million $XX.X a is end. bookings in million full $XX.X XXXX. of and Backlog bookings bookings achieved XXXX EBITDA this than

of thermal quarter quarter was previously consolidated a $XXX.X our compared XX% results. and volumes were lower turn while Now the competed in acquisitions, Fourth fourth completed segment. improvement overall a to improvement that's by attributable primarily level of -- our partially XXXX. offset was This to will I to over fourth activity quarter results, million, revenues higher construction it

$XX.X items, fourth quarter benefit to million compared again positive for million the fourth $XX.X in was net a adjustments Net our non-cash of in benefit is million income a XXXX, tax mark-to-market related this including primarily the plans. income quarter $X.X and $XX.X of million to

XXXX million operating is of the Our were million, the in-line of period. with an quarter, the XXXX. in of to $XX.X XXXX in million XXXX was EBITDA fourth were compared in bookings was quarter. million fourth $XX.X which -- compared GAAP the operating quarter $X.X million in in to Bookings Adjusted $XXX $X.X quarter the comparable quarters quarter of income the fourth of strong fourth the income

turn to cash now and I'll sheet balance our liquidity. flow, our

combined of million. cash, of cash of million the and for million $XX.X Our the in cash of $XXX.X a restricted equivalent net $XXX quarter $XXX.X source over cash was of a debt debt We fourth million. balances cash total with and year of approximately flow XXXX from ended operations

adjusted leverage times months the Our was XX, X.XX last December at net XX EBITDA. XXXX

We strategy I $XX level As XXXX fourth contributing of propelled us the in than XXXX. projects the more product of target year growth as Kenny of continued seven full XXXX. by the highest bookings booked our stated, to EBITDA again results of annual -- to renewable our waste-to-energy for drove adjusted since and million sizable said achieve our our strong execution for quarter were

by We profitability is of profile expect the billion XXXX backlog our robust EBITDA. has of as Kenny target fourth XXXX's opportunities $XXX at follow actions. end quarter. reiterating increasing shows $X $XXX over quarterly of a of XXXX of This a our prior XXXX. million in than the are of $XXX from the to million again, improvement million backlog more through highlighted, XX% we the our to and of supported cyclical accelerating performance is momentum strategic to normal pipeline the and adjusted year And The first

to the back over Kenny. now turn call I'll

Kenny Young

disruptions. an capacity ongoing Lou, across all multiple tremendous been progress one fronts, thanks. we despite key closing, for B&W of strategic and chain of continued of a improved growth revenue growth adjusted Well and macro the in annual the have growing seen XXXX, record supply success achieving outlook of the in for headwinds and effectiveness Notably, annual strength demonstrating operators. including our of bookings initiatives Topline EBITDA of the our XXXX. team world-class an since level year-over-year, improvement has

pipeline Looking the shareholder and billion identified of opportunities, from and excited enhancing projects about upgrade stemming than $X ahead, driving prospects profitable of global value. robust we a growth remain multi-year more

and stakeholders. us experienced traditional delivering industry advantage to deep expertise capture solutions a in energy in sources, technologies coupled our gives our with energy with Our sustainable unique clean and customers carbon

evolving our As becoming and our to in remain the forward partners gratitude in the technology developing ClimateBright sustainable a to of energy their years company. look of continue confidence my looks sincere drive on growth more and we future Together, in global transition, Wilcox and building landscape to employees and at commitment to the evaluate forward support Babcock continued & front-runner create and We continue generations the we transition and ever and come. our a our in steadfast for deploying shareholders scale. energy Platform strong to for to to successes all to want I profitable customers ahead. its its express

I to our any back up it wraps over will questions. operator the turn answer That to comments.

Operator

first question Aaron, please [Operator from you. Spychalla Aaron Instructions] comes go Thank Craig-Hallum. The with today ahead.

Aaron Spychalla

Lou. taking pipeline waste-to-energy. Thanks current and stock chain there, to morning, and low about the questions. on the start Good for supply award you see to and Can Kenny XXXX. timelines how talk project. then on Maybe the trending it's first just the Good maybe

expectations to back how in Just compares your that October?

Kenny Young

Yeah.

low announcement. So great a obviously was stock

that to the would road. that are in activities could more the to the But that complete, a be get one and there opportunities about We depending be things is may the say, is that before there I project of other that part year few get exciting and -- certain but end now on down extra took right expand, developing scope XXXX. to hoping it excited about days calendar that

we're my on our SIP and and as with about that also excited mentioned remarks So FCC. reflect strongly truly relationship in I

would large FCC have a the a we that Europe waste-to-energy number relationship we are would that this From both it's to is hopefully that some has as some SIP FCC, well do announcements would that in be be presence likewise. year, opportunities other segment. U.S. got in all working an overall in diligently expand with -- be on standpoint, year, this here pipeline next we're announced of Northern and around and great as our working on

waste-to-energy growth 'XX. as to technology a here royalty and specifically segments we're the of we're in and some where anticipate continuing XXXX seeing our India there. and out we're in talked those about expand too, Asia, bit licensing come And But more in of in capabilities it here we little China, and we some well seeing

starting pipeline overall, the impact I strong in of and and would we're to more opportunities the biomass-to-energy to because to So we net follow-on, say see both see continue seeing in here the in of waste-to-energy primarily what is starting negative U.S. biomass-to-energy through those COX like, advancements we're specifically because a And the to power looks increase OxyBright. of especially you're around when on technologies, sequestering combined IRA the advancements pipeline

this in -- we is a about you what of significantly approach aspects. supply the done from mentioned the So I perspective, What projections call. next last improved at living we're this supply like anything and basically current don't that's just year year on we this into see our see talked chain chain. don't taking looking year, chain we in and going era supply we've

months. So on steel would to things a that have taken days normally months XX takes few inside bring to six or getting now access

So cost business all chain contracts, we of forward. at normal going issues then around forecast as how negotiate supply it we we look tried -- at make those our at our to just obviously We of part and we as then how that. our reset standard revenue and best incorporate expectations, just look and forecast our to we look structures

that time. got it that positive our and get So, us, not our things we're does planning point this into for and it we as in at get relates to we've And baked numbers worse obviously, for things better, if of a business much we always would unless have materially 'XX. think said, as but projections impact forecast, assuming our

Aaron Spychalla

look Thanks for And you little are bit Understood. what like just those any kind just as the the you then on on of kind timing funding XX legislation. talk might And color. pipeline to anything for plus language chemical of about the looping progressing? deployments? things demonstration ClimateBright commercial broad Can for a of in mentioned update then there,

Kenny Young

Yeah.

about that and on Senators language Ohio worked, the State legislation, legislation the both of that language with other a aisle. support we appropriations Federal that excited we're to sides obviously, So and -- was lot

had So Democratic get language the support public aisle of the the DOE. the side, we to side from that in

the we're has normal and them now, through DOE. process it cycle with So inside working to the appropriations, go

going of a quick support And we'll it's to see be demonstration, DOE help some few support that excited working plays is there commercial hope than things And a longer it's will it Anytime not but we're that the to the and look fruition. to you're working government, happen. a others. number the program we influx groups forward to like. little But just take demonstration, don't over the how bring we're you to them. in clearly with and out months, so that time, of and cash At next to within -- point the road our to working with DOE about bit would excited have to the I there, with

about On talk the continuing We couple to are the commercial progress. lot efforts, opportunities. a things

that Louisiana, the a using on gas would on put capture coal an I waste in be working to and Wyoming, different coke, be is particular in utilizing associated project petroleum would that. in the on using the which two COX isolate actually coal, we're create pet think be potential product we the third fuels, project that biomass, on publicly one potential a now case, and project and and one out with hydrogen, would oil waste

haven't talked as in been with discussions we've that the fact produced conjunction a we to process the companies about the that the of able much around And with relates conjunction nitrogen we in with the hydrogen, potential publicly And also nitrogen to in and use the capture it nitrogen. COX. few we're too

BrightLoop, around we're natural applications pipeline So a we're for still build and part larger opportunities would progression technology, the of that and why with on-track to unfold. starting seeing around commercial and developing and seeing that that some broader be of we're we're those opportunities that

where see and it's definitely upside. the So clearly on bullish we we're going

work and more expand We're we that to where Chart, as including as technology. come on think into play, more in marketplace companies and Europe applications well Fidelis more our out and this and customer I as we others as Asia. reach seeing with get and the And more like

So announcements few we exciting on to these get the but some us level. a over of to concrete continue hopefully, course for soon, out the we're and of working to it's and those that hard it we'll definitely advance get year more

Aaron Spychalla

questions. to taking the hear. Thanks That's good stay We'll for tuned.

Kenny Young

Yeah. Thank you.

Operator

next please Street The Rob, the line question Capital. Lake Rob comes of go ahead. from Brown with

Your open. is line

Rob Brown

morning. Hi. Good

Kenny Young

Hey, Rob.

Rob Brown

wanted growth. color additional new the -- Just new pipeline bit further a some little booking just color get the on on to

and new You seeing talked the the was that that about where driver opportunity booking booking market. growth what of new of the the further -- waste-to-energy pipeline? growth color Kind main you on some

Kenny Young

primarily from I energy, out we renewable We're it's think The up seeing is website, looking growth our coming it. deck new I'm I on is now Yeah. -- here. out share -- believe investor our

amount our really investors deck the the is we're coming talked put I segment is on But also see does renewables include solar it website, that revised everything you'll the which a opportunity. there, on and significant on growth we pipeline about. of includes just the So out. seeing solar, It from

Some too. waste-to-energy want in obviously, that's at there's they on in read And in in combinations. the to is the supplement -- the incentives. would the kind U.S. meaning of opportunities of of as the grow U.S. solar but of projects. the we've plus got some are preparations to well the some the that not looking with, international of or development utility last But like of we its in starting sub with those a out coming solar solar are again lot are megawatt capabilities pipeline XXX I biomass, those that projects, We're aspect those put you into some really headlines, year, community small. scaled aspects, say, that

technology create intent solar solar and and we but get clean our we talked to So more biomass, the leveraging about to into around of was solar of solutions industry, combinations these waste. solar power what do how originally,

be in as we're in around area Some of could waste-to-energy the discussions around those. standpoint, of and with simplistic land solar opportunities the it a mass in going and

those renewable, biomass, green that we talk and all starting our important or Obviously, those is us capabilities when seeing But pipeline some in moving in in overall. solar waste of conversations come to whether the concept energy pipeline, is is into it's about focused and into the of capabilities. additional potentially to steam our having combustion our oxy and it most

capabilities, is BrightLoop Our pipeline that growing regard. the in definitely

us. parts Our and are the is the thermal business a there really staying has upgrades of those shrinking, -- And those or parts enhancements. out construction pipeline Clearly in and pipeline the piece. are include that it's services projects steady not doesn't business the lot thermal their for

-- expansion So always the about, we're in that's talk got all the keep segments. it's separate we that around and to that business always the that we Environmental mind. and Renewable is reason But seeing

So we're that. about excited

Rob Brown

thermal and services Great. business. And the you. Thank Okay. parts then

that was think market, I that one of activity. pent-up How does is this do point? see a deferment some sort at there? demand point, you there How there at of look

Kenny Young

incorporated in XX book-and-bill levels XX pleased that's a would the and days. but revenue EBITDA in is bookings. XX QX traditional say, days, just relates we're incorporated traditional Yeah. back We've to and with as where prior say, our flows quite come of margin stage our COVID for like it -- in going expectations strong costs standpoint. back flowing and I we've demand forecast and at had just that. before forward, planning is I We would more things to of QX the a that in the, sector, were this And that's But book-and-bill in our that from revenues to

-- very relates had commence. at don't take look look continue But we at of through out fairly unique, I on and think reverse and where starting just the that's. the that can look to because know if it's that look at technologies, at COVID we always how and and as and chain expand we're 'XX to once back orders -- solid in this look by the it's end and anomaly state continue -- but overall anomaly track last at a competitive we of operate perform to I can solid business we to margins, it we year of we engineering business. you supply continues demand year to it a it we how if and internationally of was, expand a just It's to XXXX impacts

Lou Salamone

experiencing that's No, consistent with this time. at what in point we're

expect the as decreases predicted business to as It has. hit it just be to we much thermal continue hit. people thermal as business been by well hasn't any So the sometimes perform as will

Rob Brown

I it you. Thank over. turn will Great.

Kenny Young

Rob. Thanks,

Lou Salamone

Thanks, Rob.

Operator

comes next D.A. with Brent ahead. please Thielman from Davidson. Brent, question The go

Brent Thielman

Hey, can thanks. Is XXXX-XX. issues, that kind us bridge you sort to related further I a parse Good supply ramp up from out assume And morning. should bridge on out? Ken, of you to is think, taken But work internally then in some address kind $XX business, normalization these on of chain this lot help this kind plus guys or degradation of supply and guidance year. which have be of the to better understand sort that essentially short-cycle of just new margins of a delays your no of wanted chain. booked remainder million

Kenny Young

it's question. great No, Yeah. a

the of we So chain, which we in state in current basically obviously, our impactful, out just But was forecast. our the did that took was what supply 'XX. normalize we objectives in

when look business, timing just So our at normal the booked everything and faced that or chain, we and supply aspects. the processes assume that into we just we

-- things take how it part processes. So planning that mean from I get before, there's they in just XX standpoint that that longer, mentioned XX days take incorporated and to our again, I certain to we as a

some booking is we margin calculations. There time baked are that, when from would a added those realized perspective. and to So the looking and but now business our revenues is and it's the into and forecast where be services we're revenues at parts

we've that's So based that of the course. supply now I forecasts incorporated again that and best on where just back that can describe was. it things and And are go if we've just just chain it level if -- our meaning aspects is, to way -- forward said, normalized improves, we going normal

our go have improvements But any we bring line it's where But we to hey, well. just to have only it's it that baked that would and be, was. start the hey, I that forecast way business to it make to says, the bottom improve here we any back let's as just kind does accordingly, signs don't if top business line right to -- sure and now of and the going is in let's build this say, the -- going quarterly. manage don't

so, And all baked that's numbers. into those

Brent Thielman

Okay. top-line you chain Are new see well -- good does, early this mean, year you this to it growth, can those it say, assuming I as the booked. some mean I that given margin seemingly you should factors? it's supply seemingly point all is expansion, have at pretty too work or all

Kenny Young

I forward, those I to too margin we shakes opportunities expansion are there. as there happen. that and think for see for there go we'll we potential ways the could across but is out board way, that would specific say, it's we this there's say, early Clearly, potential and give say see to any guidance that how it out as

but that any it, now say guidance anything we on can I eye give an keep concrete right we'll wouldn't to. So

Lou Salamone

when our et decreased we're would where And not say look looking prices now, right forward. and great I We cetera. going are, modeling based do we on any that at at inflation

done done good a supply have guys than job. we've little better a inflation, chain our While

we et XXX where be on, based see can still out XXX Kenny as we said, to and cetera. current really in the model that's As pricing range, conditions

So there the economy. have happens I could we to be upside, what see but think and wait just in

Brent Thielman

Understood. quick the And then, Difficulty] follow-on [Technical a just

Lou Salamone

It's very to but… for up. sort you of understand or breaking can -- you're hard if us you're change something where sitting Brent, your

Brent Thielman

you Can well? hear Yeah. me

Lou Salamone

Brent. ahead, can. Go Right we now,

Brent Thielman

comparability a on just of that year [indiscernible] fourth quarter. EBITDA sequence kind you business Yeah, follow the just flow the up with right me. If Maybe your through for the the hear cash can now? in expectations for

Lou Salamone

word third but maybe every getting question. Brent, I we're really apologize, of your

Brent Thielman

guys. Okay. I apologize., Thanks

Lou Salamone

we after get you follow-up call. saying. Yeah, right apologize, -- can't what you're but the I

Operator

on with for our Rygiel question, Brent. ahead. now to which from B We'll go Alex Apologies the that Riley. line final please of Alex, move comes

Alex Rygiel

Good through can gentlemen you. might quarter. nice you opportunities of multiple that And the backlog flow totality, over Thank the and how cycles? In time? morning, about very project talk with project Fidelis, opportunity

Kenny Young

are they in them. in they're their it the yet like time. are of None revenues, there -- not to minor with process. backlog close We're pipeline, there our is here that finalizing projects not But yet the Fidelis that -- our Yeah. in funding Fidelis We've and seems at larger some got engineering very they're but this around projects in the were point grown obviously, materially. projects. aspects that

announcements bookings as end track think, and and fully it we're year further described, would as some that. towards time anticipate how we anyway. timing tracking We'll updates I on probably But relates obviously, summer think that on all to it be I through publicly, on this that's that put have, it. out potential the Fidelis, And of that we we're on the but

would look the three-year at be it end going to I more, a obviously, project. of year So at it's the

I be think running something that to that. XXXX, up targeting early like and they're by facility

The other those around are other those on with also is with be we're them we're and capture hydrogen closer carbon projects Fidelis those and part them some and excited and are of some of in on working opportunities opportunities. to some a

next over some of number would they nothing that be good projects those material, but have had and potential Some working globally. are even with have Again, we a engineering and in course studies involved of might things the the months. on few those projects imagine I of them on

about excited we're be part so definitely And a that. that to of

that know I thinking we're if So but about it. that's how helps Alex,

Alex Rygiel

contract you that costs, of not some able to the kind the challenges No, talk all of supply to And pass different. that chain every Are unanticipated that then a understanding and if of does. little bit. is coming back through -- project us along

Kenny Young

are date There later we depends absorb do suppliers. then two, a there or -- on parts pass and from Yeah. cost lot along that depends But to lot and things that aspects just we very other somewhere increases We thousands of have that. on of that. a the one the we or pass capabilities do have increase thousands on to have. we're price situation, different can and like we a depending we it like the increases able where the the occur it at moments immediately, we do but There's vendors or are contract it and of our sell inherited --

is the pricing elements, long-term a few project some on projects, ability not to -- in there we and projects others. But mechanisms, maybe where multi-year have on adjust certain large we're

and most to XXX% a of do increase that, lag. So our for the time to they and we're a to costs. to some there to adjust price little some able immediately, increases over able part we're customer But on project -- cover have little those those in cases project in to bit part bit customer. customers to able part, vary But cases average, and that effectively we're and overall, a

Alex Rygiel

you comment the for flow can of of there year stand And then sort every as that outlook XXXX, understanding out cash kind on Lou, few special that situations? in is might lastly, dynamics a

Lou Salamone

Yeah.

kind cadence past, over cash of the flow our As in seen you've the of quarter. each grows

strong very it a have we is quarter cash second the --our the first quarter third lower a evidenced builds quarter, more quarter first and a your a builds generally very performance flow quarter. So the here, as then quarter, fourth in by in little we

continue. So we to cadence expect that

should able you've same looking at, EBITDA we're cadence closely internal with But, Alex, paid years. I processes each with taken that to better process growth over units of and in be collection EBITDA expect the and push off more processes good that's very the to. cash would our also to the line that flows that to We've we and cash growth. steps produce experienced But with

Alex Rygiel

Thank much. Excellent. very you

Kenny Young

Thanks, Alex.

Operator

the the questions team we any concluding turn today's for the management Those call. I call back were remarks. will to for have

Sharyn Brooks

be replay call. our A today. Thank a you limited our conference for for website later joining on us. That available time concludes will

Operator

joining now disconnect concludes Thank may your you, everyone call This lines. and you today. our us for

Babcock & Wilcox Enterprises, I (BW) 15 Mar 232022 Q4 Earnings call transcript