Babcock & Wilcox Strikes Twin Deals - Analyst Blog
February 12 2013 - 10:10AM
Zacks
The Babcock & Wilcox
Company (BWC) has won 2 U.S. Naval Reactors Program
contracts to render procurement and assembling services. Babcock
& Wilcox will execute the deals, worth $36 million, through its
affiliate Babcock & Wilcox Nuclear Operations Group Inc.
The first contract is for the assembly of nuclear propulsion
components for Virginia Class submarines for $32 million. Work for
the same started in fourth quarter 2012 at B&W’s Lynchburg, Va.
facility, and will take 4 years for completion.
The second contract, valued at $4 million, includes procurement of
long-lead materials associated with the manufacture of nuclear
components for Virginia Class submarines.
Earlier this month, B&W also received contracts worth more than
$510 million for the manufacture of nuclear components as well as
naval nuclear power systems.
Headquartered in Charlotte, North Carolina, Babcock & Wilcox is
engaged in providing clean energy technology and services for the
nuclear, fossil and renewable power markets worldwide. The company
– which was spun off as a separate, independent and publicly traded
entity from energy-focused engineering and construction firm
McDermott International (MDR) in Aug 2010 –
operates in four business units: Power Generation, Nuclear
Operations, Technical Services and Nuclear Energy.
B&W currently carries a Zacks Rank #4 (Sell), implying that it
is expected to underperform the broader U.S. equity market over the
next one to three months.
However, certain other engineering firms in the energy sector like
Gardner Denver Inc. (GDI) and Graco
Inc. (GGG) are expected to outperform the equity market in
the next one to three months. Both the stocks currently hold a
Zacks Rank #2 (Buy).
BABCOCK&WILCOX (BWC): Free Stock Analysis Report
GARDNER DENVER (GDI): Free Stock Analysis Report
GRACO INC (GGG): Free Stock Analysis Report
MCDERMOTT INTL (MDR): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
McDermott (NYSE:MDR)
Historical Stock Chart
From Sep 2024 to Oct 2024
McDermott (NYSE:MDR)
Historical Stock Chart
From Oct 2023 to Oct 2024