Upcoming AWS Coverage on EnerSys Post-Earnings Results
LONDON, UK / ACCESSWIRE / May 25, 2017 / Active Wall St. blog coverage looks at the headline from Charlotte, North Carolina based Babcock & Wilcox Enterprises, Inc. (NYSE: BW) ("B&W") as the Company announced on May 23, 2017 that its Industrial Steam Generation group will transition from the Power segment to the Industrial segment. The transition will be w.e.f. July 01, 2017. The Company also announced the appointment of Leslie Kass, who will take over as Senior Vice President, Industrial. The appointment is effective immediately. Register with us now for your free membership and blog access at:
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One of Babcock & Wilcox Enterprises' competitors within the Industrial Electrical Equipment space, EnerSys (NYSE: ENS), announced on May 04, 2017, its preliminary financial results for Q4 FY17 and full year FY17 which ended on March 31, 2017. AWS will be initiating a research report on EnerSys in the coming days.
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B&W is a global leader in energy and environmental technologies and services for power and industrial markets. The Company was established by Stephen Wilcox and George Babcock in 1857 as Babcock, Wilcox & Company to manufacture and market the water tube boiler patented by Stephen Wilcox. The Company completes 150 years in FY17, and it has operations, subsidiaries and joint ventures across the globe. The Company employs more than 5,000 people worldwide.
Changes in the Industrial Segment
From July 01, 2017, the Industrial segment will include B&W MEGTEC subsidiary based in DePere, Wisconsin, B&W SPIG subsidiary based in Arona, Italy, B&W Universal subsidiary based in Stoughton, Wisconsin, Industrial Steam Generation group, which will continue to be based in Barberton, Ohio.
The Industrial segment provides a wide range of custom-engineered technologies for cooling, environmental, noise abatement, and industrial steam generation applications, as well as related aftermarket services. The Industrial Steam Generation group, which has now been added to the Industrial segment, recorded revenue of more than $100 million in FY16. After the addition of the Industrial Steam Generation group, the Industrial segment will be B&W's second-largest business unit with approximately $550 million in annual revenues.
Commenting on the organizations restructuring, E. James Ferland, Chairman and CEO of B&W said:
"Our Industrial segment is a key part of our Company and a strong driver for growth as we continue to expand our non-coal revenue base. Integrating our Industrial Steam Generation group into our Industrial segment will also increase efficiency in our business development efforts and promote more effective cross-selling of related products and services in the industries we serve."
About Leslie Kass and her role
Before the announcement of Leslie's appointment as Senior Vice President of Industrial, she was the Vice President of Retrofits and Continuous Emissions Monitoring for B&W's Power segment. She was responsible for Company's global retrofits business and worked closely with customers to develop solutions for their steam generation and environmental needs. She also held the positions as Vice President, Investor Relations & Communications, and as Vice President of Regulatory Affairs at B&W in the past. Before joining B&W, Leslie held a number of significant engineering and project management-related positions with Westinghouse, Entergy, and Duke Energy.
As the Senior Vice President of B&W's Industrial segment, Leslie will provide strong vision, focus, and direction to the business unit. She will help in accelerating the growth of this segment and diversify B&W's overall revenue stream. Simultaneously, she will be responsible for providing outstanding service to existing customers of the Industrial segment.
Stock Performance
At the closing bell, on Wednesday, May 24, 2017, Babcock & Wilcox Enterprises' stock climbed 2.49%, ending the trading session at $11.10. A total volume of 698.27 thousand shares were traded at the end of the day. In the last month, shares of the Company have surged 14.55%. The stock currently has a market cap of $541.01 million.
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