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AKRON, Ohio - Babcock & Wilcox (NYSE:BW) announced it has received an initial $10 million order as part of a larger $40 million award to supply low-pressure Wet Gas Scrubbing technology for a major petroleum refinery in Canada.
The company will provide sulfur dioxide emissions control technology licensed from ExxonMobil, according to a press release statement. The technology has been deployed in more than 30 refinery applications worldwide. While B&W continues to secure new contracts, InvestingPro analysis indicates the company faces challenges with its debt burden and cash flow management.
B&W acquired rights to the emissions control solution through its 2022 acquisition of business assets from Hamon Research-Cottrell Inc. The company stated it worked with the refinery to develop a customized solution addressing site layout challenges and emissions requirements.
The ExxonMobil Wet Gas Scrubbing technology enables refiners to meet fluid catalytic cracking and fluid coker emissions regulations. The system can also be enhanced to address nitrogen oxides and particulate emissions restrictions.
This order represents one of several recent environmental technology contracts for B&W, which describes itself as a global leader in energy and environmental technologies for power and industrial markets.
The company did not disclose the specific Canadian refinery receiving the technology or the implementation timeline for the project.
In other recent news, Babcock & Wilcox Enterprises reported a significant financial shortfall for the second quarter of 2025, with earnings per share at -$0.63, considerably below the projected -$0.07. The company’s revenue also fell short, reaching $144.1 million against an expected $182.07 million. In a strategic move, Babcock & Wilcox announced a partnership with Denham Capital to transition coal-fired power plants to natural gas solutions, aiming to meet the rising power demands of data centers in the U.S. and Europe. The company also regained compliance with the New York Stock Exchange’s listing standards, confirming its stock price met the minimum requirement. Furthermore, DA Davidson raised its price target for Babcock & Wilcox from $1.00 to $1.50, maintaining a Neutral rating, citing recent divestiture activities and improved capital positions. These developments come as the company navigates challenges in its financial performance and seeks to strengthen its market position.
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