Babcock & Wilcox Enterprises, Inc. (NYSE:BW) Q3 2023 Earnings Conference Call November 9, 2023 10:00 PM ET

Company Participants

Sharyn Brooks - Director of Communications

Kenny Young - Chairman & CEO

Lou Salamone - CFO

Conference Call Participants

Aaron Spychalla - Craig-Hallum

Brent Thielman - D.A. Davidson

Rob Brown - Lake Street Capital Markets

Alex Rygiel - B. Riley Securities FBR

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. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions].

Thank you. Sharyn, you may begin your conference call.

Sharyn Brooks

Thank you, Hannah. And thanks to everyone for joining us on Babcock & Wilcox Enterprises' Third Quarter 2023 Earnings Conference Call. I'm Sharyn Brooks, Director of Communications.

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

During this call, certain statements we make will be forward-looking. These statements are subject to risks and uncertainties, including those set forth in our Safe Harbor provision for forward-looking statements that can be found at the end of our earnings press release, and also in our Form 10-Q that will be filed today and our Form 10-K that is on file with the SEC and provide further detail about the risks related to our business. Additionally, except as required by law, we undertake no obligation to update any forward-looking statement.

We also provide non-GAAP information regarding certain of our historical and targeted results to supplement the results provided in accordance with GAAP. This information should not be considered superior to or as a substitute for the comparable GAAP measures. A reconciliation of historical non-GAAP measures can be found in our third quarter earnings release published this afternoon and in our company overview presentation that will be filed on Form 8-K this afternoon and posted on the Investor Relations section of our website at babcock.com.

I will now turn the call over to Kenny.

Kenny Young

Thanks, Sharyn. And thanks to everyone for joining us today. Well as you can tell by our earnings release, it's been a busy third quarter for Babcock & Wilcox. I'd like to start the call today by first reviewing our third quarter performance on a continued operations basis accounting for the announced reclassification of our solar business, as well as the latest advancements across our Bright Lube and Climate bright initiatives. I'll also discuss our announced strategic business realignment and the rationale behind that decision as well as details related to our 2023 and 2024 financial targets, which are based primarily on the strong performance of our aftermarket parts and services businesses, before turning the call over to Lou.