CHARLOTTE, 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 million pretax
charge in the quarter and a full-year ($0.51) EPS impact.
…Read the full article at: http://www.businesswire.com/news/home/20160628005388/en/BW-Announces-Restructuring-Traditional-Power-Business-Updates