BW - Earnings call 3 2023 | Babcock & Wilcox Enterprises, Inc.

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Operator

Good evening. My name is Hannah, and I will be your conference operator today. At this time, I would like to welcome everyone to the conference call. [Operator Instructions] Thank you. Sharyn, you may begin your conference call.

Sharyn Brooks

thanks Enterprises for Conference Third and Babcock us Call. Hannah, Wilcox & Quarter you, to joining everyone on Thank XXXX Earnings I'm of Director Sharyn Communications. Brooks,

B&W Officer, Joining and our third Financial Kenny today the discuss Young, results. call Officer, to Chief Lou and Executive quarter Salamone, Chief are Chairman

found make that certain harbor our the set These forth at our be safe statements can uncertainties, are this call, will and those During subject for including statements forward-looking provision be statements we of forward-looking. to risks end will in release, related file risks further and that our XX-Q earnings provide also, press the on in be Form to Form our our with is and and about that the business. SEC filed today detail XX-K

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

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

Kenneth Young

start third the been ClimateBright to announced the busy I'll revenue business our solar of for accounting our performance us on quarter as our also today which details discuss that BrightLoop aftermarket XXXX as like performance and can business to you primarily XXXX and strong call activities financial call first based broad-based was services over and operations a the drove turning year-over-year initiatives. our highlighting for is of on basis, Wilcox. Well, $XXX businesses across during well release, continued for as segments third realignment today. our business to Sharyn. the behind year before on revenue prior as consecutive well by And advancements thanks, parts reclassification decision Lou.Let are quarter. third which our the of quarter latest the expansion XX% quarter rationale basis. it's the that targets, joining all strategic our Revenue improvement by me announced third the as growth our the and everyone, Thanks, related tell by for Babcock compared across start earnings million, the and to reviewing I'd a quarter & a

approximately our XX% thermal improvement topline was services, the XX% led Our environmental and as XXXX, that respectively. revenues X%, revenues to increasing third well renewable more by followed renewable, specifically by increased of as when quarter compared

same in of $XX an million, BrightLoop $X and QX in businesses, typically higher-margin expenses continue million the inclusive quarter also aftermarket and improvement business ClimateBright perform is parts for roughly adjusted expectations. XX% of when last to thermal continuing period our impressive year. compared million XXXX. in services or renewable, This our internal Our to for Consolidated the was at from above EBITDA and operations $X

mix on our was strong of product aftermarket nature businesses, segment. for also While Environmental the to adjusted within EBITDA higher-margin in demonstrated the quarter projects factor our execution performance volumes attributable a we large of the increased

is slightly largely of taking are few as larger new bookings attributable operations negotiations a to mostly than anticipated. timing on bookings backlog flat and continued While were this year-over-year, longer opportunities

and to as B&W interest energy and due higher many aftermarket Some upgrades projects to factors. increased rates large the timing utilities services to new of companies delays build for reevaluating these geopolitical deferring scope are are of positive other due and

by range of year-end robust, updated XXXX including backlog $XXX for on million operations, growth based remains to well million us opportunities outlook a positioning continued assets. Our near-term in our achieve to not booking reclassified $XXX

reach providing technologies, improved global target to addition, ClimateBright and services and expenses. and our achieving from our parts portfolio. $XX in our $XX based of performance energy on adjusted full to to activities, and when XXXX technology thermal continuing excluding are several we commercial million updates clean of operations ClimateBright our remain provide EBITDA million revised generation and in BrightLoop year BrightLoop hydrogen In related we confident to pleased Transitioning project in

very here we a Akron. are small developing in in near previously hydrogen Ohio, mentioned, headquarters plant BrightLoop production As Massillon, our

close for offtake the day at hydrogen are for per a to next this tons production XX for to years. We hydrogen agreement of X signing location definitive up

moving carbon-neutral and for also a we agreement traction that of terms. from our with by are General hydrogen with we become date, financing, to our length commercial it are of produce come very the XXXX to lease biomass facility definitive up COX or well and of the to early to of and regard targets end medium announce has signed forward XX-year previously to Hydrogen excited the project have have these or into day with expected We received shortly the with be intent to step letter the intensity have clear BrightLoop late have understanding we XXXX. agreement XXXX. tons per construction level Both carbon net-negative XXX a Louisiana and a With for agreement our in platforms, announced on represents offtake agreements of medium-sized facility specifically, as forward products their larger signed key announce collaboration of on to acquire hydrogen comes become as with are with to Based hydrogen our the technology. a we which produced heels solutions at enter imperative. offtake development platforms. facility initial This also a a COX Air both of utilizing memorandum in BrightLoop to into carbon-negative in operational Products, have address hydrogen More the excited we production of that production

permitting, collaboration, offtake, in within Wyoming. as well in Virginia. allocations, And progressing project as recently fuel announced we This and especially hubs, parallel, Importantly, continue funding. commitments hydrogen land in includes West

revenues when bringing of While update focus and what our meaningful to XXXX BrightLoop response realignment, current we which of of to progress, our impact means announce our expertise going higher a its rate the conditions, today, developments us a combination We growing trend Board and BrightLoop We excluding Directors, reduced join still X hydrogen now our and large To power capital updated immediate forward costs in by delayed projects segments, of lifespan continue an presents X% with or the generated and aftermarket generation across today's utilize a overall operational energy of We In Naomi to global opportunities. and the in Naomi XXXX. carbon We including to cash her company like sector, going over deep of strategy our reach our as our reclassified debt. industrial from and to hydrogen within billion strengthen to puts include continue our share with hydrogen extending to businesses. Directors. expenditures revenue will growth billion Board the capture. are confident Dr. sheet for more market operations. this experience are BrightLoop existing lead predictable to flows the recent prove Board us by streams an reduce by medium, plan facilities. feel to and Effective the pathway from announced to reiterate, Boness across to interest beyond by in opportunity our small, bookings spend believe our -- growth billion This it welcome to accelerate on the I'd only billion $X.X these $X we that customers, our is focus market and total strategic particularly business operations, which $X approximately the and generation represent projects. valuable a pipeline could extensive with $X forward. on pleased industry confident to we also see in shift in XXXX balance will to all

new million and also flow producing on up of order on cash aftermarket nonstrategic concentrate annualized is provide generation with to seeking $XX to our for ultimately shareholders, our evaluating heightened margin reduction One, with profitable on to opportunities. cost businesses streamline associated reduce following. and credit fiscal federal, X predictable generation related XXXX. the to strategy, projects, of to our focus We balance and to long-term overhead aftermarket are growth realignment is company realize build opportunities. on segments, a we technologies. up driving to million secured build strategic financing the our savings, million, strengthening expense Further, through a consistent In parts the high its and parts of by deployment and secured and multiple assets. to by the BrightLoop million cash greater costs today overhead our services flow emphasis the reducing ClimateBright large year aftermarket higher-margin for associated up interest our level state senior further and facility announcing and commitment letters $X Reducing just with refinancing. to in our of accelerate credit Bolstering existing higher a to of service alternatives more end our while approach by primarily successful updated across certain sheet utilizing all on in our focus $XXX efforts project $XX expect capitalize project decision our Refinancing facility new to the and senior ensure

the the we several While the and the considered standpoint, for that for solar regarding both what and there pathway when management utility continued potential Board evaluating key were growth would growth. take steps factors long-term recognize company team from community our

the evaluation solar As this of decided margin the and business part due operations. risks, reclassify is continuing higher to projects, profiles. have historical of the This primarily out our process, to we

next of excluding Looking performance we ahead improved aligns across XXXX for the growth $XXX when target demand observe with segments, focus paving on adjusted EBITDA the $XXX BrightLoop promoting to to future and million sustained our year, in announced million range way with ClimateBright. all our

in be I'll significant Lou adjusted visibility less portion now third reliance as Importantly, quarter. business with to strategic Lou? discuss our to we turn over a the call generated financial existing will from targeted of given confidence large of our have now the backlog outlook realignment, increased details projects. on our and the EBITDA

Lou Salamone

which XX-Q pleased can results to of to I senior Thanks, the fact will with recent quarter further for also file third our SEC. details facility, be to on review on our attention the I'd your operations. of refinancing that our be call Kenny. the our our of referring to commitment is continuing found credit that and like I'm amounts

increased which revenues our Renewable attributable levels compared due to segment to parts to B&W segment as were well to higher and $XXX.X due quarter operations Renewables the the million, activity. a is in which quarter This third the of as Thermal third is volume, Our XXXX. XX% construction consolidated higher primarily of improvement volumes Services

Our quarter income in the XXXX. net $X.X XXXX compared third of loss the to operating for of million third million an quarter operating of $X.X was

compared Our was $XX third ending adjusted the million, was in at backlog $XX XXXX. quarter and as quarter fourth were EBITDA end the of of to $XXX XXXX the quarter the the of million in XXXX, Bookings $XXX million quarter, million. third of

third of was share per net the in Our the of loss quarter compared per $X.XX quarter loss as third $X.XX share in XXXX. to a

As the of business continuing we've Kenny mentioned, out reclassified operations. solar

above. is amounts, certain the recognized we'll Within be been which result, up in which such taken We're the of of in future these discontinued contract services include higher Renewables quarter assurance now of will of have our not XXXX, financial quarter the as to million EBITDA quarter operations. turn third the charge segment due revenue $XX.X increase in recoveries pursuing our compared is and XXXX. both as that increase results. quarter about primarily in I'll and million recognized million to the there to an volumes segment, Babcock statements. third of reported of our a have volume million, losses, to Accordingly, million, which & third associated higher $XX.X of losses primarily with revenue Renewable $XX.X Wilcox was an these adjusted in The of compared $XX revenues the estimated are for is recovered. no were potential amounts $XX.X $X.X and described due to As million third XXXX, recoveries impairment million XX% quarter in $XX.X to third

higher the segment, Environmental Wilcox $XX.X million again, which $X as quarter to in by the the of higher margin of increase is & XXXX. compared third primarily glass flue volume flue same $XX.X with by related primarily EBITDA third Adjusted of XXXX, offset plant. was increase Babcock were the an mix, a the And driven a described X% higher in $X.X is product million treatment quarter million gas for -- quarter cooling revenues by this glass Within a overall volume technology treatment lower projects, the as process of projects. was million along of product to driven last to favorable for period compared above, closeouts year. mix The flue

about to flue Sorry say Hard that. for gas. me

decline This $XXX Turning XXXX. our third of now to primarily is XXXX of Babcock boiler $XX.X to volume which segment, company XXXX quarter the attributable XX% quarter liquidity. million. certain in the and cash & the third of XXXX. cash and This were and quarter had segment, higher sheet, the a I'll the to projects by to in in well driven cash construction of in product And third businesses. service cash, million turn balance and primarily and mix of million revenues partially described restricted our packaged equivalents as parts our debt quarter of million EBITDA million Wilcox was the Adjusted $XX.X level our this Thermal XX, to an our was the $XX.X and projects. was at was million volume Total in by as higher revenue the compared $XXX.X offset Thermal was third balance XXXX, flow, in above. compared to September $XX.X of increase service

financial quarter by year September covenants credit of financing liquidity amend a current hydrogen refinance a per including the financing obtained to $X I'm BrightLoop also subsequent The project first onward. this commitment reduce in costs agreement, that of to interest Massillon, our certain for to have developed existing we to and Kenny our refinance million signed rates. our XX, on we've letter financing, as pleased should mentioned, The and updating up Additionally, reimbursement strategic had expected improve alignment, we significantly thereunder. commitment signed, senior to being facility is our intent interest XXXX, based and our announce Ohio.

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

Kenneth Young

momentum ahead Lou. included into our growth fundamentals while improve and the core power Well, for booking in remains strategic our excited see business, and QX the we and activity are opportunities technologies beyond. baseload in Thanks, of closing, about without in global interest commercial new robust, outlook our generation, accelerating and of decisions us. demand extremely increasing challenges to several market our XXXX and we the wasn't With

always, I'd efforts as the employees like continue to an to as of our organization Finally, they worldwide. recognize as drive our success

With of experienced and the transition sustainable outstanding global growth our talented and we're continued focused supporting and support strong of shareholders. we're employees on to our and delivering customers, the our innovation profitable the for extremely confidence solutions, driving

who for margins realignment assist questions. entering will Hannah? to that generation the company. are and a Hannah, the forward as call flows We now enhance strategic any to back execute look phase business we we I'll the new our transformation over overall improve will turn cash and with

Operator

with Instructions] of question the Spychalla first is Aaron Craig-Hallum. Our [Operator line from

Aaron Spychalla

appreciate of me, look pursuing might XXXX? I some about you Can a And level maybe you're just like there? as we things more about a you for there. there? the the other kind little of and ClimateBright BrightLoop investments think of on about that color First kind financing talk some those bit, and the What of project then elaborate talked bit little just exclusion guidance,

Kenneth Young

to there ClimateBright. financing as up to an the project to. an to Obviously, structure B&W. will just from revenue impact in thinking $X be perhaps, to those we somewhere from rough company that expense go of give $X some from be, B&W standpoint projects, and B&W about in standpoint. be how forth versus we're a that project but particular know, BrightLoop set necessarily and of in financing don't that depending There happy No, and and perspective, level $XX referring how BrightLoop Sure. the how on neighborhood, flow million, I I the to transparency mentioned project think will will a of under order back million exact to about past. and at that's timing, we're ownership broader expense But magnitude, a the ClimateBright is the would million

Aaron Spychalla

All on just a little lost? about we head talked momentum, kind kind been then but looking you right. you you project backlog, those slipping timing? talked into just for of more second, of Have is the projects? a some XXXX. Or into more that bit, of the maybe just of And sounds then some color It 'XX? accelerating give as little on it areas can of you're just And a of those just maybe like any

Kenneth Young

actually, QX, Well, here, -- on would in on we're trying talking into I negotiations though those work slipping some that even complete on XXXX. are would depends this more those I we It few we're into that. a we're of QX maybe just call. November to Yes. projects say about as through

my to for delays As some referred is potentially some comments, we referenced and those increasing of activity that in scope B&W.

a a of to, at looking them of the out to enhancements, or some and they we're B&W. us plants our positive are customers and caused they it had longer anticipated. to of of caused projects As way relates to It's relook these few upgrades than larger extend maybe now ascertain the as life how to some scope can in trying the

these Those hopefully, as those I X the well. provider. in XXXX negotiations those so us of well we're out Which But how booked lifespan think some negotiations for look bodes and excited a at of it. an at in approach and into more aftermarket That's X And of as get But the relook we or timing the long from still full QX, aspect plants. run as to technologies and have but to we their just that. a continue. about customers of intent slip may the

think I waste-to-energy. in in renewable energy, worldwide, new I say would opportunities obviously build some particular

next of will those any probably extend delayed year interest which as for overhead of the for to rate we've new this reason. that. associated do But increases, capital that but overall. into an are few on There's is the other is Some a with for businesses, timing the us about the large opportunity build, bit expenditures, little not us, of talked because reducing a

in want some technologies we company. of licensing new that see potentially that and more licensing opportunities. the new take in to support on build increasing we We'll and also balance large We direction waste-to-energy specific the of opportunities of licensing our some towards transition around as less

Operator

next question Our Davidson. is the of from Brent line D.A. Thielman,

Brent Thielman

XXXX Hey, the is Lou, to Kenny I just to and million $XXX million ex-BrightLoop confirm, EBITDA and wanted target ClimateBright? $XXX

Lou Salamone

That's Yes. correct.

Brent Thielman

just Okay. another clarification. And again,

said million million just and in against I baseline? costs $X support that in of BrightLoop ClimateBright? think you Is right potentially to that sort the of $X

Kenneth Young

financing element the in to just and of SPV minus those early that, the that these $XX below -- unfolding. range it's standpoint. funding would flow in projects. That place, take state a bit a on timing advance that's from a be level but back deal Yes. which of with timing see say of would as And B&W tweak other work that and as think we're the will -- good It to number. an pathway think an revenue how timing we continue but projects somewhere or those precisely some how projects is how piece the that million, that on investors they little little between I will the EBITDA investing to There's the and plus of we that and that as I'd vary that predict I project anticipating well depending and could expenses

it. that's kind how Just of thinking about range, to some give we're you

Brent Thielman

into of particularly then Okay. assuming get That's guess, function there's are a assume in some some realignment? from should 'XX the regard can as this talk mean benefits moves helpful. what EBITDA your of these converting this. that kind certain strategic to I we of think sort operations XXXX And the EBITDA to you of flow expectations business, boost flow? range How overall I cash less should of this from I cash about about drag target

Lou Salamone

the Power our from from business than start Thermal generate Brent, seeing a we the the much business, with to projects, cash we call new more the Yes, now, we've emphasis past which adjusted what better what flow should conversion standpoint, on EBITDA than build cash. had also and we're in

the talked to Some will coming that range used, probably conversion Conversion into higher positive cash probably be bit much broad CapEx, -- we of BrightLoop be on to Kenny we've convert XX% year. be rate next about, be would respect expand the our as I'll quarter the continue a But percentage to have because flow than penetration. converted able of rate a of would in and to little second but that cash. be cash should with

Brent Thielman

XQ, is that right, Lou? Starting

Lou Salamone

start know, I'd for of middle industry. you others Yes. say we'll QX quarter Brent, as is always seeing that. in this Because QX, us QX, well as as a slow

Brent Thielman

Yes.

support maybe I you've to then capital the just here And related capital done you next may the structure your giving need to can financing feel is the order all in this the you've support Do ongoing at to do of Okay. BrightLoop. there, not place may like stage? that structure you to I recently, the that out to just guess you guess of support or company, the regards in take growth of financing steps got of some kind commitments in thoughts, a sort that

Lou Salamone

Yes.

the talked areas may of some helps new Kenny generate the I'll million kind our as looking and our be at the direction, And strategic the that letters credit we interest for the both that fit may with revolver, we're senior capital think call not which structure does earlier lower rate. of as about will facility committed mentioned, cash. certainly some and that I the credit financing the what for facility, $XXX of the

Kenneth Young

that projects we're tried million to just approach lessening will that, build reliance large the sense add makes add achieve note, relates to to if as on important that to that on upside target. it I'll to and allow I'll quick $XXX to won't putting this, projects -- the new that $XXX if EBITDA though. doesn't a range, targets emphasize it target that certain that to real million necessity target. a we be mean be to But That there. you obviously rather that more with order to conservative guidance to into into. We're to little enter Tried entering than trying or for be in out more those us it's

Operator

is Lake Our Rob Street Markets. Capital next question Brown with from

Robert Brown

want on clarify a not I just the to little bit pursuing realignment larger projects. more these on of comments and your sort

what of you then assume bidding to market Sort -- Or no sort And how waste-to-energy, your with are it's do do of kind of there? that? but the go you focus I change projects? how you

Kenneth Young

It's in explain us credit, come Certain it letters services the high rates, I'll those lot require margins. sounds. package particular, parts opportunities waste-to-energy, high interest security risk. relates of to are margins LCs, build. as as high on renewable further. with Yes. i.e., them aftermarket not credit are as that as not services, of waste-to-energy simply really compresses Plus, and associated interest and parts as and it with right? certain Clearly packages, it of The complicated but We're as our additional letters international opportunities in the twofold, in or on not security the A certain levels. new

discussions than or beyond that them with makes that the in regarding if are with so specifically more or in margin negotiations opportunities expense that see associated But associated that potential do forecast have sense. to Those But higher are expansion for look and licensing. us positive X letters interest credits. an the reliance we that of we on are forward, that on at and to they targets waste-to-energy ones remove aspects. are going As well necessity, rather our a we're we upside pursue. opportunity a of secondarily, would want above opportunities projects and There

we'll of The licensing have significantly waste-to-energy in no not of and that of lower more margin costs credit. the as markets, to to necessarily typically even bid. also what match or X opportunity for think and X a is we from increase that that around It's been the think we have, makes or are margins much or us a as as but to standpoint amounts several bid from if handful, that licensing X focus, interest are attractive as the don't that we waste-to-energy a that just continue that know higher rate a We of the us overhead letters model X It's our expenses we whatever, comes particularly and gross I technologies. or at the we sounds. down flow our projects technology sense, or standpoint. reduce margin stronger it's cash simple

Robert Brown

project update. some projects of it. you color at pipeline it Got analyst how the waiting given some direction what's Are those that certainty your in know Are And over for pipeline, in But then on you've the supports I and government is good it? you last financing BrightLoop Okay. into some the of of seeing pretty terms this? come on projects more that kind of -- seeing this into point? we're

Kenneth Young

Yes.

we several we We pipeline that that opportunities pipeline it years. I as expanded would pipeline, in mainly around to guess book projects opportunities, typically total in projects. X-year we those more opportunities. in And X the to the -- announced relates if to are you we keep BrightLoop the see We building. large those that's billions we'll when next excited it think the about

opportunities Our BrightLoop around overall that. keep on growing

BrightLoop have, and in keep forward that we a organization going result of We ClimateBright. expanding as that,

The agreements least moving relatively discussing puts but offtake this it's are final aspect, on going big necessarily because not speaking. before. us. moves mentioned, we're separate discussions for got up we decision in move into the the haven't But we're on to to a short-term project into having not to year, are not a as coming state yet. it's into XX But real that the segment, Ohio plant for a applications into point those The moving financing discussion, we take-or-pay we're real next important The place. and ground now is and years but status. now technology moving debating We with whether commercial states should BrightLoop Lou a at or definitive yet, into agreements is it Obviously, not a and it at opportunity several us were hydrogen. for of maybe from where continue, that that ClimateBright

those that. some discussions states. move might start well, that approach -- the phased-in soon, domain further you'll see of of the Some coming will too. into and on on as we funding a we're public announcements level from continue And be to federal It on

But it's to of time, the testing, a We've hub, some moving Mountaineer. on. there's some West again, eventually hydrogen previously the we're boy, a that in XX keep of to forward testing number. that as in finalize -- down get a to throw agreement we to unfolding amount locations. certain keep that about aspects, as announcement in moving -- hubs out testing that and going in samples us. the Hydrogen an things up different That's a the point a increased time. such now, range, the our Air It's across projects to in step. I'm will developing testing But broad Virginia, that That's to tons of going to plus of taking kind before day. them fuel announced take obviously. opportunities at We and comments we've Appalachian fuels our probably up those as in a both the in General other that going were labs work developments In DOE, with that's place That around XX-year coal by location XXX biomass in fuel us and keep increasing with us. all today, mention there mentioned the the recently agreement, circular to we getting are The pull-through Products multiple big the offtake this solid before particular the is a will the XX-year through puts keep mentioned just developments, developments utilizing but piece, also of that's related opportunities, we're

location, air we're We particular the there. in process aspect, are mainly in and then the the feedstock that lease negotiations negotiations permitting on in and on biomass

around funding The we'll in and to on of But we opportunities. announcing project. there. And expanding, discussions about We other some obviously keep make that that same BrightLoop progress excited of that we're are corners continue the are All also pyramid as locations. coming those keeps in together.

in the us see do, that's happening a Really thinking power bodes and decision group, thermal more in biomass, services plants We're coal parts exciting ammonia spectrum, At into before, ClimateBright exciting on starting we it other talk renewal down about both for neutral that mix, focus baseload real services parts associated think and the if this, for comments, for We time, we're offset of the mentioned net say the it extend a overall plants for reduce about so see some it ammonia discussion, our have went and net net to but now costs ammonia, we're it's are few offtake see, more been And And our also that of and in BrightLoop the areas. move identify a offset take for starting one becoming of same with net wide by an either points early neutral it's XXXX. generation. -- discussions can globally, because combining reduce in these get we're coal-fired a lot application, but and the or early that on us some I carbon which what can with here opens the parts looking but There's could because some can our both well at excited but take along. to power would us. that COX negative introduce ends around by of least lot, areas biomass. generation as to I'll production U.S. actually literally, of ammonia, here BrightLoop is to net actually because a I and Asia. We're power the and lifecycle BrightLoop, in on depending that aftermarket negative that's produced One that the coal-fired plant the with in the activity carbon call that's plants. the U.S., didn't of up our of as especially and the using to potentially those we a from early on we and thermal on development. a these their plants services it intensity and negative we'll net neutral to more But that or

adds strategy. All realignment of that into that

Operator

Our the B. of Rygiel last with question Alex line from is Riley.

Alexander Rygiel

lot on here. A evening, Kenny Lou. Good going and

couple into things. Let's of get a

the in to to First, comment guidance important of that? to $XXX timing million that year? in million $XXX of $XX is And cost can as how savings, annual your on next relates it million the you getting

Kenneth Young

Yes.

we'll that has into will already a taking heavily already that. clearly, QX Some process Yes, help kick in begun. in steps. so bit of that has we're little Obviously, started QX. And out on and

to Some I describe timing the those and been more the in may they've be in way but be of that to than is of now, are implemented guess QX process it. identified, best

Alexander Rygiel

a chance to was assets. kind Is quantify making reference you in that you those? to realize of here there the there related any could then And nonstrategic could Excellent. possible strategic alternatives value

Kenneth Young

Alex. great say at assets. wish just from to I question, wanted out but I leave could, various moment, the for things look I'll but No, we that

locations no going and could of have that in that other point But that put strategically things, those property this longer don't Some or need out at valuation time. forward. be to we want I anything a we'd assets

Alexander Rygiel

you Great. much. very Thank

Kenneth Young

everyone. Thanks,

Operator

closing like would I over Sharyn now to remarks. session. question-and-answer the the any concludes for turn That to call

Sharyn Brooks

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

Operator

you Thank participation. That today's for call. your concludes

your now lines. You may disconnect

Babcock & Wilcox Enterprises (BW) 9 Nov 232023 Q3 Earnings call transcript