Babcock & Wilcox (BW) to Restructure Traditional Power Business; Updates FY16 Outlook
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B&W Announces Restructuring of Traditional Power Business and Updates Guidance for 2016
June 28, 2016 8:30 AM EDTCHARLOTTE, N.C.--(BUSINESS WIRE)-- Babcock & Wilcox Enterprises, Inc. (B&W) (NYSE: BW) today announced actions to proactively restructure its traditional power business in advance of a lower projection for U.S. coal generation and has updated guidance for 2016 to reflect:
The net impact of the restructuring and decreased coal-related revenue in the second half of 2016. A charge to correct an engineering design error on a new build renewable energy plant in Europe. The resulting re-engineering, on-site rework and delivery delay will result in a $32... More