The US plant technology supplier Babcock & Wilcox (B&W) ended the first quarter of 2022 with a sharp increase in revenue and order backlog. However, the company posted a net loss, albeit a narrower loss than reported a year earlier. Across its Renewable, Environmental and Thermal divisions, the business generated turnover of $204m (ca. €193m) in the past quarter, an increase of 21 per cent compared with the prior-year period.
Some $239m in new orders were reported for the first three months of the year, a jump of 41 per cent year-over-year. The resulting total backlog stood at $721m, which was the largest B&W had achieved since 2018 and 35 per cent more than at the end of last year’s first quarter. That rise also reflects the strong new order intake B&W achieved in the final quarter of 2021. “Our results for the first quarter 2022, combined with strong bookings and backlog, have positioned us for a milestone 2022,” said Kenneth Young, B&W’s CEO....
