Babcock & Wilcox Enterprises (BW)

Megan Wilson Vice President of Investor Relations
Kenny Young Chairman & Chief Executive Officer
Louis Salamone Chief Financial Officer
Rob Brown Lake Street Capital
Brent Thielman D.A. Davidson
Alex Rygiel B. Riley
Call transcript
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Good day and thank you for standing by. Welcome to the Babcock & Wilcox Q2 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation there will be a question-and-answer session. [Operator Instructions] As a reminder, this conference is being recorded. to Wilson, conference Relations. Vice like speaker to now Megan today, President would hand over the your I of Investor you. Thank Please, go ahead.

Megan Wilson

& Wilson, Vice Thank Welcome of Investor XXXX good and B&W. President Conference Wilcox at Babcock Earnings Megan you, Quarter Enterprises' I'm afternoon, Call. Relations Second Sadie, to everyone.

are Young, results. Chairman Chief discuss second quarter and Officer, me Financial Executive Officer; Joining to Kenny this Chief afternoon Salamone, B&W's and Louis our

to our this statements forward-looking. with During and detail further this the SEC our Safe in we statements those statements afternoon forth and risks uncertainties, the risks call, the XX-Q be about subject set our make will business. related including and at earnings our These that release filed Harbor file Form Form and are be of on quarterly provide provision report that certain in press found end our for to XX-K on can forward-looking is

undertake statements. except no Additionally, law, update any as to obligation required by we forward-looking

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

Kenny Young

excited results. and today, the joining discussing Thanks, pretty our everyone, Thanks, good on afternoon. quarter for call We're second be Megan. to actually

our really platform. our solutions, cost our as quarter actions our as presence, and by strong very for international of is pipeline, well momentum and our services demand opportunities quarter including our second and in a project reflected decarbonization platform. quarter This with increased demonstrates compared new a for results strong million the of XXXX bookings environmental of Our quarter parts reduction which and achieved the clean expansion second $XXX second strong energy momentum and initiatives and in second of the the XXXX, renewable driven We direction, bookings ended in and improvement strategic with to XXX% XXXX million energy $XXX including ClimateBright, and of quarter is the backlog. our another

generally of ClimateBright capture pipeline an opportunities seeing our lead increase billion and speaking, and our our of a most hydrogen opportunities, decarbonization than Importantly, carbon our our does overall reductions. are XXXX. as development shorter pipeline continuing of of parts world's identified our not combustion urgent through to that and segments, of time The we engineering proposal keep including robust May the the objectives, of pursue exciting to dioxide $X now all more Across methane platform mind of include are and seek activities in propelling customers carbon backlog services. solutions climate and is launch some in and address

quarter to improvement targets $XX.X adjusted the of expectations is of of compared for reflects achieve our EBITDA EBITDA million, our progressing our million to our quarter We're a consolidated $XX in seven-fold on stated previously progress our booking second pipeline five in performance reaffirming our current compared new-build continue with are progress which a XXXX to XXXX. of make increase internal energy aligns anticipate our to bookings, XXXX. with quarter adjusted and the steady This based we visibility in we As renewable converting second to million target first projects to XXXX, XXXX. EBITDA XX% $XX and to three of and

each typically anticipate year shows previously strongest anticipated we our QX bookings. be indicated, quarter forecasted of to will performance on year, QX cyclical and or this profitability we based QX normal As increasing our from

agreement further new which our The senior over have us across storage in total the in secured million closed a long-term invest capital segments our all as reduction technology four-year to potential also ClimateBright and have positioned improved we financing US grow growth evaluate demonstrates of option at debt lenders the platform, We continue as recent our our Energy technology by agreements, exclusive strategy. opportunities. June, with of in and XXXX $XXX confidence pursue shareholders innovative and structure acquisition Department to energy our such license our

future. technologies has technology Department and efforts by about clean experience decarbonization of has with next and a industrial backed Turning back advanced and in universities the capture various energy zero-carbon aggressively revolution B&W lead world's expertise to change. and designed to for US combined utilities our Energy climate XX active greenhouse ClimateBright we than of alone more patents help towards development joint combat unparalleled Through the emissions excited solutions research suite industry the carbon are and revolutionary with to and platform, technologies gas

Our as presence. use COX the B&W's ClimateBright of green to technologies, change or potential technology have solutions from hydrogen, while our efficiency industrial purposes. higher industrial other parasitic production COX. capture for industries results technology. fuels for or This variety This includes to capture technology syngas or technology combustion hydrogen, steam a feedstocks, carbon the BrightLoop the or has overhead This produce example, which requirements for isolating include, of a does simultaneously other breakthrough while same in isolating how expands that not load worldwide

range SolveBright can of range and SolveBright which designed post-combustion technology to across capture to our industries, efficient COX. regenerable capture and carbon boiler applied a technologies technology, or utility economical wide be solvent Our to industrial is is a deliver capture carbon of

in which oxygen an generation. for innovative provides And operation in solution process, our combustion power a lastly, COX refineries which is hydrogen zero-carbon BrightGen, isolation is uses around OxyBright Our world energy and COX. multiple generation applications of sequestration produce industrial combustion and and facilities and facilities sequestration-ready the pure to technology, integration currently our and for industrial

are as than greater currently carbon in potential working customer-specific our close anticipate coming to on expectations solution XX we to said, projects capture needs. on determine I the ClimateBright based booking the months. ClimateBright projects We best And

are a or for including we markets. Currently, explore continuing investments acquisition investments renewable or Finally, are mature in technology three attractive of that in targets multiple and opportunities acquisitions due emerging, negotiations. phases, or significant to opportunities exclusive technology both diligence advanced emerging are in number

the value increasing both while emerging through future. and experienced inorganic transformation remain a environmental We sector of technology management we to immediate to services our higher explore opportunities driving the thermal In a and a markets, acquisition green potential strength with growth, within to addition team. organic synergies achieve opportunities leveraging within margins shareholder worldwide dedicated to continue to

of a discuss Lou? Let me call over turn of XXXX. Lou our now QX for financials to the to few

Louis Salamone

Thanks Kenny.

be even level to Our primarily second of quarter revenues higher consolidated as due second to to and continue by continue workforce realized though segments the ability in sites. This affected limited of revenues construction quarter the was at the COVID-XX, be $XXX.X all compared improvement our company's customers to for the be adversely million. and were XXXX, job revenue improvement quarter. to projects activity is This travel a restrictions of XX% delayed in

is of positive quarter fees as $X.X improved million. operating and and million second the income volume, continued compared higher to an other compared inclusive XXXX. Our advisory improved of of GAAP $X.X cost to of the benefits the our initiatives. The second costs million second $XX.X execution, construction XXXX. operating $X.X income as to in well in was project XXXX was to reductions, This million savings of overhead of the impact loss restructuring G&A improvement quarter of and million, Adjusted quarter and primarily and of due $X.X operating EBITDA an in settlement restructuring of

sheet, in Turning Cash in balance to from the XXXX of second cash. $XX.X flow a and of our operations cash million flow, was use quarter liquidity.

after discounts we previously price underwritten underwriting offering registered but on an As $XX million $XX.X million deducting four commissions share. cumulative of proceeds a May of net A XXXX, of an perpetual X.XX% at stock public offering expenses. approximately offering and resulted shares Xth, of preferred Series The disclosed before in closed

May for $XX stock price of after completed on approximately million $XX.X we shares over offering preferred XXX,XXX share of an fees. of of XXXX, proceeds Additionally, underwriting the XXth, net deducting per sale at

into of preferred our million disclosed previously XXXX, with agreement Riley June with shares existing exchange $XX stock. on X, entered B. of for we an term B. million Riley As approximately loans for of the X.X

under $XX.X issued secured which As the this our the MSD in to Kenny mentioned million of has and the XXth, the letters of as agreement of refinancing of affiliate the leverage total agreement provided XXth, maturity revolving term X.XX in to million. for prior million successful rates our gross as of the earlier, a adjusted which prior the quarter This June rate in the of includes the senior credit, total quarter restricted part a XX as the $XXX agreements All in XXXX. February been during the to and we loans, net reduction $XX our with, provided public issuance an reduction PNC XXXX. with and was Agreement quarter under agreement with cash, of We Net up credit in terminated. cash our debt, by decrease expense have months have primarily of agreement notes million has to collateral last PNC The significantly with $XXX.X been to compared have waived obligations out notes common ended cash closed PNC on credit of secured facility July a $X.X equivalents, new the discharged $X X-year million deferred stock of Credit reduces debt revolving Bank by and year the prior under asset-based cash year. XXXX, well fees our times our prior Letter date senior driven last million Approximately a offerings June completed on and credit $XXX.X by due credit been on Partners. EBITDA. interest million

to further quarter than of preferred million. more the this completed debt we common reduced a The earlier stock, serve forward, debt to by interest expect our $XXX of offerings expense total due and secured Looking we to stock, senior be reduced full levels. our reduce note benefit year

Turning savings cost to our initiatives.

additional of previously cost $X second savings. to in of approximately In million for savings of the cost disclosed, $XXX of quarter million implemented initiatives the a XXXX million addition total we've savings $XXX of

EBITDA. EBITDA the current our on about to assumptions million targeting to the adjusted reach XX% the the by of -- next our to reflect year-over-year incremental second financial improvements business continuing of XXXX. impact of net of actions savings improve beginning expect segments initiatives in COVID-XX of EBITDA in cost of which are quarter our see our first XXXX. the all income, These remainder our deferred of to construction margins, adjusted during management strong COVID achieved we to higher Despite We revenue, of impacts the performance significant an with We're implement commitment and XXXX previously $XX We're effect a and XX% supported in the few million the to bookings the based and momentum in years. strength $XX half activity of continued and and we of on resuming adverse of projects over level to impact target million of XXXX. $X team and the

half The EBITDA the adjusted inorganically normal back now QX to quarter provides We've in and year turn growth, performance it momentum QX performance from foundation over positions to first of our this cyclical and this increased targets. typically achieve for organically XXXX As the us year solid our second EBITDA a XX% to Kenny demonstrated Kenny. profitability as displays I'll with quarter. full strong to the year. increase in prior of a in compared each noted,

Kenny Young

Lou Well ClimateBright implementing our in expanding improved debt results. additional are initiatives our propelling and platform thanks. that secured saving mentioned, initiatives significantly ongoing strategic reducing financial much our Lou, including growth our cost closing, launching internationally,

our demonstrates in steady performance targets. second another adjusted of quarter towards progress bookings of quarter achieving Our our strong EBITDA solid the XXXX was

initiatives inorganic growth have take opportunities to and capital further improvements within invest clean emerging both and Our technologies. structure advantage our positioned mature in energy of us

and progressing efforts are to acquisition negotiations move technologies. within exclusive diligence due continue into opportunities opportunities three we are renewable or mature Our emerging evaluate phases as we advanced further technology on that in

new is for see across the pipeline new-build $X more and technology through and our Our as we billion our XXXX building projects in increases demand opportunities. renewable ClimateBright opportunities emerging than

to dedicated shareholder our to segments. as remain Looking returns forward, continue Renewable we Environmental value grow and executing profitably plans increasing long-term and shareholder our we Thermal

everyone. answer Sadie So with turn questions. up back that, of we'll and Thanks open your call over I'll a the to few and


our Instructions] [Operator first Capital. from open. For Rob, we line Brown Lake question, Street your have Rob is

Rob Brown

afternoon. Good

Kenny Young

Rob. Hey,

Rob Brown

revenue projects pipeline forward. think about is Give are I when or renewable projects the time sense the on those the the could us said of three those talked you in that a think rollout you those how line sort levels question on First moving of and you close?

Kenny Young

to in renewable or would $XX we're be we've on those on call plans the little moving opportunities discussions and to on and on all able are range. go scenarios. we're some to about of us be on those plays But worldwide talked see in vary million lower energy working aspects. permits impact $XX for typically let's that in COVID a through technologies. depends people the Obviously, higher into we $XX opening scope million projects countries could earlier. up Those and about on the could even still typically core had and some They're our $XX million on than the and those closing you million -- -- just to -- are projects be where where out of new-build low-end little give anticipated the in up a other business. But with some enough bit local confident this full those going few thinking at those of It we could at governments on projects and least point indication our a from going and feel well high-end a of obviously to breaking projects they it

to I that we that But about So if don't we got make sure know helps, think Rob. but -- out. that's wanted that how I it

Rob Brown

think you sort projects customer activity it are a those your you. in across or that said That's I of then is very footprint? the you it. Got are helpful. seeing And Thank markets your on few moving there along. projects, are ClimateBright global or on diversified What

Kenny Young

the is that obviously interest basis. global and diversified being on our thought great. some be. which of a aspects expectations Obviously It ClimateBright inbound is read by aspect on where we it's call of exceeding the and probably the I -- really would business lot the has mean, that is is environmental everybody A driven on petrochemical industrial of the that. in wide cover environmental recent -- it reports UN that out actually processing in and all diversified. platforms a of across but also our oil covering were issues. our across opportunities and opportunities, But opportunities seeing put biomass And gas, food We're around the is variety those board. waste-to-energy needs

from both we And to opportunities But industry well in building as some able as we to see technologies technologies around how the which most in geography diversified standpoint. working studies specifically, in of using to be probably So those do still provide as the it's around is some cases we various exciting technologies pipeline the would for early clients. of those interest of details but prevent implement opportunities. those up well. it aspects some should that conceptual there's importantly, more those for be to technologies we're types through to things Obviously, our engineering need a

Europe, here the in Some and in Asia in US, parts. other some some Southeast

So it's do to growth to in And looking some really at exciting company inside interest and to increasing engineering now that and so. for we're that resources excited resources inbound see us are demand. right support the also

Rob Brown

over. it turn I’ll you. Thank Great. Okay.

Kenny Young

Rob. Thanks,


is next open. our D.A. Thielman For your question, Brent we Davidson. from Brent, have line

Brent Thielman

the first you. ramps Hey, guidance year. the respect just it the thank of be and the guess how seasonality question to business on Good with evening. I would through

into great. got or pick sense to you Just versus help work pipeline of backlog of of the up as terms move there today Any you the time much the even half lead shorter you've year visibility be back through that a what year. of in gives trying how to get the the rest would

Kenny Young

Good question.

So always with our QX to obviously are call, up QX, as always on you being QX indicated we below and and picked the QX being on revenues highest, it. as from cyclical the performance

year to be exception no that. So will this

year these We parts is seen and strong we rebound very we've strong. we're And think and backlog wanted services so of positive. little to that as projects platform I come confident some not This levels in performing much and which to to a the of our back give we're could is much there. those to out revenues. us transparency aspects project our fruition think negotiations are very of obviously are bookings will as – statement contracts is business we discussions that a this and stated Obviously, – well business giving very time projects we seeing year. too, on announced which have that state But At these going have some unique for new that's but indication around and so a it's the other than hopefully, rather build wouldn't that to call, we're the higher-margin as I those as we later. be notices made as sooner same we well limited in and

the confidence know projects getting a are platform bookings here we mid-year targets. our coming, around that know what are of making are reiterate in So and of those that anticipate combination of those And and parts to of and our services support we the statements. lot the in – pipeline what we us the give plus obviously, we strength

and year bookings three higher will all And But bookings QX and that the that. hope year very of doubt. of the where of this from without those going against the of see strongly as kind well I us too. we where a give coming next those QX into So the we we But are based finishing how than on clearly, timing be and going combination think very confidence paints out it strongly picture of all about of it. into

Brent Thielman

or And ClimateBright the next on I was some guess begin that at end we look and you've technologies beyond? we these XXXX into these I as that on still a should move bigger become be question early Did to and Kenny. you Okay. other the impactful the introduced. pretty towards and as do appreciate as year opportunities newer the get of bit of those

Kenny Young

our We few think within this demand is and year. going bigger go sorry meaningful we because there. But year Having I pick up. without the much we this clearly more we're this that are XXXX to discussions more sizable are those possible beyond, on probably even projects and in impacts as see year. so a a projects could that of I just but opportunities starting The doubt for we'll ClimateBright of are for and platform projects into maybe think I'm that, not – said – have timing into booking looking yet bookings a on few next sizable

interest a years real talked short non-loss details do of through processes you technology I year. will a And level BrightLoop, combustion will anticipated and functions But But able that from on But let's ClimateBright of underway about some the BrightLoop aspects we're a technology strong say does would inside bigger actually inside combustion be really those I'm could we're and industries. gas potential. but with greenhouse year right a bigger to BrightLoop excited technologies ability that -- heat with engineering fact necessary So plant. which within the those perspective give the lot very have working with obviously to addressable if following a getting very energy of a engineering aspects unfold lot of that launching and potential about COX of to aspects to a a further we technology -- over the -- a we're where really that And next in the bigger able a we think discussions a we'll just up a next drive personally to our elements been it stream now. will seeing be than industrial we When better other about that is the say COX, the to perform market years, be has confident studies particular associated that. ramp XX years the pure industrial And XX a and lot all inside be industrial with just in year processes provide I through efficiency so that limit game-changing approach areas a those. very reductions other has around important. the reduced former associated that mean other excited this period that's support global be in the we think us but global capture very – obviously, that of pretty or or boiler that. And we're demand. has that our trying really Obviously, time. are different that wouldn't to we're areas. now I we're And we're on

that -- or new replace potentially is be other accordingly replace this launching there. game could COX we're technology technologies So and there should changer that out of capture become that a out the real some

our part that of lot a a basis. on global effort that getting on out is focused So on

far more the do so our SolveBright a aspects that for in is are getting But lot to of have our position that year and studies well. take just look revenue to we BrightLoop meaningful marketplace. platform. our others sometime become and from combustion, been next equal and Oxy technology off in really part And as the customers one we're supportive very feedback

which or will of will those reduce need obviously be applicable more that the COX are continue Some grow. in technologies exist technologies exist as boiler to that demand older to to

a have pretty getting big variety wide and a about there. so excited out that platform we and So we're

Brent Thielman

or the half the the in point? is out about any profitability either disruptions and commentary flow That's supply to Maybe this free on hindrance guess cash thoughts last back of a just for all And the I cash Okay. year. chain cash expectations great. that one or negligible business flow operating there just flow at

Kenny Young

build that the steel obviously focus the design watch raw happen. the those something on we we make used build raw point. this chain materials a There's global the to to that Clearly, at out various and are especially on and of basis fluctuation -- that's negligible example. have is supply It's as in technologies lot marketplace for a been these materials i.e. on

as are to Obviously, to to minimize close taken have things science, we a semiconductor do global technology and around about components. keep Lou steps have often that actually flows? but of big that and for side but impacts as the on a far eye cash the pay a you any all something lot the those other to we that. impacts you fabrication raw aspects perfect not that world impacts have we've in are It's it's from steel The add try or on. anything So the attention lot there. of you in view taken to steel perfect But we we chain us. not more other materials But read want supply and

Louis Salamone


will as result in And cash with On in decreasing said was quarter the interest the debt. that we release the million turning those flows Most of $XX payments. should this of positive. be we the start decreased

large a puts then had worked finally, payment which our basis that of in to where half on a now the position quarter the funding a first payment. we the the and, pension part We we're us we in had so pension minimum is reason. fully a of had year also make funded. was advanced And us had In other where that gave of customer the first a that off that pickup was we

continues. cash flow turning year the So we positive start as to expect that

Brent Thielman

Best you. luck. of Okay. Thank

Louis Salamone

you. Thank

Kenny Young

you. Thank


Riley. our question is next Alex, have from For open. we Rygiel your B. line Alex

Alex Rygiel

very here. quarter, Thank A you, nice couple of quick questions and gentlemen.

quarter the opportunities very First, strong. thermal incredibly in your sound but climate exciting, was the revenue

environmental in you quarter. on on little the was of X.X% business could a in strong success in you comment that more maybe of attractively the a then couple also bit your So strongest maybe line? margin thermal comment And could – years, EBITDA's

Kenny Young


– the that the of in on that engaged our few in side, strong our what quarter to that given in quarter, very we'll the be and But QX So Thermal to which trend two-thirds renewal on doing – ebb deep drive quarter, pipeline see business will some time in which next Alex the in trend doubt. revenue side that ebbs we going flows – come long-term that on and pipeline interesting is the and have projects to book is We process the mainly still upgrades this. and was will over the without that those for thermal actually obviously construction the the the piece. older there'll as us environmental, we're about on any and from years given completed new-build US a some period. in on in we see and enhancements any were actively flows technologies that needed a be be

quarter piece But from had those of actually some from this a there. revenue. but those up picked So that just was amount of on we out and quarter, that will revenues significant projects increased uplift again, it, ebb flow that each up down and

there number aspect, project opportunities right our core ACQS, making but technologies of announcements now, the in side more lot do we're this SGCs that way. in of impact we year And – so our technologies, only in in some gas some of saw and those. on and us we ClimateBright on a our are emission anticipate the out But thermal yeah, unfolding on in more even flue a those see lumpiness that good the environmental here QX aspect, not in environmental seeing our a the projects

environmental as well. on we good now And right the path a so see side

Alex Rygiel

or you your that this end high it for some as variables of EBITDA the the either low about of the can And year, that could guidance to relates range? then to talk end take you

Kenny Young

services outage because We're of last moving in positive one period a fall and year, back this of fall the obviously, a of falls. have us. parts didn't the of period a rest COVID. year. We to Yeah. the No, spring. anticipated do and expected at – throughout rates perform the for a good question. continuing that been It's anticipate lot the normal that's The continues business in be fall outage first the year, more really to We and will of

that is – during a see Those and up back. we on pick other period. So we of where this periods lot is worldwide performing services parts outage returning aspects

see So continue. that you'll

they some are renewable more that as well. modest around seeing provide focus as are parts We on area as we particular improvements and get services –

so as other that fully when build key around larger to against continues new variable we revenue – which of anticipate really as And these the piece it we timing those perform, then can that will, bookings, bookings. the is and recognize long

if of then that – things they when that's delayed revenue because various they're that naturally So just three, would one gets delayed two or delay week or out. those,

we the margin could allows more it's better around a the then earlier If of or timing we get start executed, the the projects. those revenue, you QX revenue revenue, more those that of recognize getting a towards of months than in out we projects, lose the those So and have around timing them And ship it's potentially doing us recognize if then started door get projects. – and impact, more recognize those best those our couple end and that of we business begin revenue. costs so we're those versus which announced them speed to QX the new shifted are you and think earlier, with I could those associated to can year. of the booking to get obviously to and started And projects that's and those on projects – there. get really to projects, up can is the But always

we from aspect, those those, we the so. project given have on projects I that's and any can focus on think standpoint period variable to timing that is much a the how cost in So of recognize always

Louis Salamone


businesses. Alex a always, the than margin consider, of in a quarter, has little the service had that where project we've saw to idea out. bit other talked and we we certain our In of and the second because construction there's as practically that talked lower think came in, Kenny parts, before about our gross thing as show is very closed up, construction you large have mix of a I about

good margin close that that, parts on your a is had than your very we still out on margin less business. So but

– we that in saw due it margins mix improvement little to continue the forward. diminution going a you a see So, but little was you really see and to in

Alex Rygiel

And you any and weaknesses variant? on Delta hindrance then the strengths from some geographic lastly, comment can and

Kenny Young

other in part those getting little Europe is and of of so right which a workforce Delta on And and but restrictive outside the into which aspects. out. difficulty and time UK is impacts now getting the restricted parts in there a governmental aspects, for on variant out of even The now and here now, workforce right more -- the UK travel getting example B&W adds and from the just bit on bit in is little other right

two locally need because where So to of resources days would a take that work permit -- site there. XX get, aren't normally begin that certain hypothetically where just days you a it something to or now takes

their inbound and Australia in So still has those particular some I these are really you little The But always run is us, a flow those into, we've for now more very ramped good more with of resources -- the those the India geographies. reduced travel areas. things site. up news locally think is difficult is into delays. right COVID

in China. So the that's areas on really even some pipeline, especially areas in of helped other our in Taiwan, those and aspects perhaps year Southeast of Australia for market, some example even in renewable in the this Asia stronger Asia

have presence those a areas. in better We

basis. international historical are the company because us opportunities didn't easier to so for respond the forward to little where move And presence on have of that and a increased that

aspect But it little us accomplished it's to things COVID effect overall longer take the bit well dimension now just get just little the helps that that right just a So -- too. is way don't Lou, because and the impacts that's but But -- know the give overall. your that's of of I thoughts has COVID human best I'd the of it. some aspect describe

Louis Salamone


I varying around the it think well, monitoring it. we you've impacts Kenny. described We world and just see keep pretty the

Alex Rygiel

much. helpful. Very Thank very you

Kenny Young

Thanks, Yes. Alex.


Travis, our question next a investor. your is Ron, we line have For Ron open. private

Unidentified Analyst

Good afternoon.

Kenny Young

Hey, Ron

Unidentified Analyst

that? about You further talked you opportunities, want do acquisition about comment specifically to

Kenny Young

they are what they who obviously, into or do. get wouldn't I

points announced, at in company always been on a we've obviously, looking has are we as up M&A We let approach clarify companies active I and back to different increased local Asia. to we that exclusivity One, previously going synergies and and that -- services me things. two and be acquire here. today. guess few do We to our three The those build in could we typically North America, have be worldwide. immediate in Europe are markets in of can services mature or one either where It on more markets and/or

of increase positioning our those Some the can presence platform, exciting market that we customer that technologies those grow new the that's through our new either are or as renewable too. and augments our technologies those in type or sector their on technologies, and and presence environmental of well we in especially worldwide think in

are of and those technology unique, -- standpoint. Some from as longer-term view more would I we capabilities what describe a

on not would strengthen for technology ClimateBright that us help platform, few patent but may improve say material to years So our an either early revenues easy technology and let's is broaden way it be for portfolio. a or our but

look those at of respect. that in do we So all

for be and XXXX whether or renewable the an and that's cash immediate long-term us, looking in also while synergy aspects are from a as to XXXX others flows growth we those clearly, and perspective. XXXX want beyond. On look little or environmental, growth in we strategies at a from those But whether at that's we

look here at line And to at as at areas. try are on we hopefully to focused two point them soon. not get where position and across of are we'll these those we're this balance these a We we the and or what some. in anything we So about specific evaluating announce one obviously, being but we're goal

Unidentified Analyst

bolt-on more acquisitions these focused Are more or future? the on

Kenny Young

meaning, and both. next And capabilities but wouldn't the or synergies revenue I now, -- little have we are we months. exclusivity. provide And But mentioned a I over would that the say, are those of some three have now others we two have ones more core of both, under opportunities still there's little bit say, I growth didn't XX when they bolt-on, that say, technologies of -- would Ron. bit a before, have had our in

Unidentified Analyst

you With that did year, to significant be forward ClimateBright that respect to next year? do not expect announce going any you for next capability

Kenny Young

strong potential very Clearly has be to to thing. -- that do a

they'll that are booked and projects are I ClimateBright go hopefully, obviously a projects are will will meaningful have we few -- to sizable of implement. -- some I projects -- year several year, next as -- of them those booked impact in have the year. think, mentioned this we those are those get those obviously projects some active -- months those But this we going take to

I mentioned two. book have that we that right the as we've we out revenues more months actively on those think projects had into XXXX. call roll now, So and will six those we XX-some-odd But we're -- in those that meaning got involved ago

million are pipeline range those projects. -- I up $XX some rest year be our into high-end of to from those going small-end year, it's to do projects next be $XXX will this well. those and million. But $X the So They and for and year million could increase the we'll sizable of more think see there next to meaningful as

Unidentified Analyst

These will than difficulties? be more previous managed tightly

Kenny Young


course. Of

Unidentified Analyst

Okay. Thank you.

Kenny Young

Ron. Thanks,


Megan the over to Wilson like to further remarks. There at for this back are questions turn call I now would closing no time.

Megan Wilson

website us. today. for That a be our concludes our limited time Thank later A you will for replay conference call. joining available on


Ladies all call. concludes conference today's you this for participating. Thank and gentlemen,

now You disconnect. may