Babcock & Wilcox Clocks 28% Revenue Growth In Q4 - Babcock & Wilcox (NYSE:BW)

Babcock & Wilcox Enterprises Inc BW reported fourth-quarter revenue growth of 28.3% year-over-year to $192.3 million, missing the consensus of $196.62 million.
EPS improved to $0.30, compared to $0.09 a year ago.
The operating income improved to $9.7 million, from $2.2 million, and the margin expanded by 358 bps to 5%.
Adjusted EBITDA increased by 76.6% Y/y to $27.9 million, and margin expanded 400 bps to 14.5%.
Bookings for the quarter totaled $269 million, improving 61.1% Y/Y. At the end of the quarter, the backlog was $639 million, increasing 19.4% Y/Y.
As of December 31, 2021, Babcock & Wilcox had total debt of $340.3 million and cash and equivalents of $226.7 million.
Net cash used in operating activities totaled $111.2 million for FY21 versus $40.8 million in FY20.
Outlook: The company reiterated its FY22 target of $110 million - $120 million in adjusted EBITDA.
"Our robust pipeline of more than $7.5 billion of identified project opportunities in the next three years, recent contract wins and strategic acquisitions give us confidence in our ability to achieve significant year-over-year growth in 2022," said Kenneth Young, Chairman, and CEO.
Price Action: BW shares are trading higher by 1.61% at $6.94 on Tuesday.