Babcock & Wilcox Enterprises, Inc. Files 10-Q for Q2 2025

Ticker: BW-PA · Form: 10-Q · Filed: Aug 11, 2025 · CIK: 1630805

Babcock & Wilcox Enterprises, INC. 10-Q Filing Summary
FieldDetail
CompanyBabcock & Wilcox Enterprises, INC. (BW-PA)
Form Type10-Q
Filed DateAug 11, 2025
Risk Levellow
Pages16
Reading Time19 min
Key Dollar Amounts$0.01, $50.0 million
Sentimentneutral

Sentiment: neutral

Topics: 10-Q, financials, reporting

Related Tickers: BW

TL;DR

**BW 10-Q filed for Q2 2025. Common stock & notes trade on NYSE.**

AI Summary

Babcock & Wilcox Enterprises, Inc. filed its 10-Q report for the quarterly period ended June 30, 2025. The company is registered in Delaware and its principal executive offices are located in Akron, Ohio. Its common stock and several series of senior notes and preferred stock are traded on the New York Stock Exchange under symbols BW, BWSN, BWNB, and BW PRA, respectively.

Why It Matters

This filing provides investors with the latest financial performance and operational updates for Babcock & Wilcox Enterprises, Inc., crucial for understanding the company's current standing and future prospects.

Risk Assessment

Risk Level: low — This is a standard quarterly filing providing financial information and does not inherently indicate new risks.

Key Players & Entities

FAQ

What is the primary purpose of this Form 10-Q filing?

The primary purpose is to provide a quarterly report on the financial performance and condition of Babcock & Wilcox Enterprises, Inc. for the period ended June 30, 2025.

Which stock exchange lists Babcock & Wilcox Enterprises, Inc.'s common stock?

Babcock & Wilcox Enterprises, Inc.'s common stock is listed on the New York Stock Exchange.

What are the trading symbols for Babcock & Wilcox Enterprises, Inc.'s debt and preferred stock?

The trading symbols are BWSN for 8.125% Senior Notes due 2026, BWNB for 6.50% Senior Notes due 2026, and BW PRA for 7.75% Series A Cumulative Perpetual Preferred Stock.

In which state was Babcock & Wilcox Enterprises, Inc. incorporated?

Babcock & Wilcox Enterprises, Inc. was incorporated in Delaware.

What is the address of Babcock & Wilcox Enterprises, Inc.'s principal executive offices?

The principal executive offices are located at 1200 East Market Street, Suite 650, Akron, Ohio 44305.

Filing Stats: 4,782 words · 19 min read · ~16 pages · Grade level 18 · Accepted 2025-08-11 16:16:26

Key Financial Figures

Filing Documents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1. Condensed Consolidated Financial Statements 5 Condensed Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2025 and 2024 (Unaudited) 6 Condensed Consolidated Statements of Comprehensive Income (Loss) for the Three and Six Months Ended June 30, 2025 and 2024 (Unaudited) 7 Condensed Consolidated Balance Sheets as of June 30, 2025 and December 31, 2024 (Unaudited) 8 Condensed Consolidated Statement of Stockholders' (Deficit) Equity for the Three and Six Months Ended June 30, 2025 and 2024 (Unaudited) 9 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2025 and 2024 (Unaudited) 10 Notes to Condensed Consolidated Financial Statements 12 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 38 Overview 38 Results of Operations - Three and Six Months Ended June 30, 2025 and 2024 40 Liquidity and Capital Resources 49 Critical Accounting Policies and Estimates 51 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 51 Item 4.

Controls and Procedures

Controls and Procedures 51

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 53 Item 1A.

Risk Factors

Risk Factors 53 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 53 Item 5. Other Information 53 Item 6. Exhibits 54

SIGNATURES

SIGNATURES 56 2 Definitions In this Quarterly Report on Form 10-Q, or this "Quarterly Report", unless the context otherwise indicates, "B&W," "we," "us," "our" or the "Company" mean Babcock & Wilcox Enterprises, Inc. and its consolidated subsidiaries. Unless otherwise noted, discussion of our business and results of operations in this Quarterly Report on Form 10-Q refers to our continuing operations. Abbreviation or acronym Term 6.50% Senior Notes 6.50% Senior Notes due December 31, 2026 issued by Babcock & Wilcox Enterprises, Inc. in 2021 8.125% Senior Notes 8.125% Senior Notes due February 28, 2026 issued by Babcock & Wilcox Enterprises, Inc. in 2021 8.75% Senior Notes 8.75% Senior Secured Notes due June 30, 2030 issued by Babcock & Wilcox Enterprises, Inc. in 2025 Agents Collectively, B. Riley Securities, Inc., Seaport Global Securities LLC, Craig-Hallum Capital Group LLC and Lake Street Capital Markets, LLC AOCI Accumulated Other Comprehensive Income (loss) ASC Accounting Standards Codification ASH Allen-Sherman-Hoff Division ASU Accounting Standards Update At-The-Market offering The offer and sale from time to time of shares of our common stock, having an aggregate offering price of up to $50.0 million Axos Axos Bank, an affiliate of Axos Financial, Inc. B&W Solar Babcock & Wilcox Solar Energy, Inc., formerly known as Fosler Construction Company, Inc. B. Riley B. Riley Financial, Inc and its affiliates, a related party BWRS Babcock & Wilcox Renewable Service A/S CODM Chief Operating Decision Maker Credit Agreement Credit Agreement between us, with certain of our subsidiaries as guarantors, the lenders party thereto from time to time and Axos Bank, as administrative agent, swingline lender and letter of credit issuer on January, 18, 2024 (as amended from time to time). Credit Facility Revolving credit facility CTA Currency translation adjustment Debt Facilities Collectively, the Revolving Credit Agreement and Letter of Credit Agreement

Condensed Consolidated Financial Statements

ITEM 1. Condensed Consolidated Financial Statements 5 BABCOCK & WILCOX ENTERPRISES, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Three Months Ended June 30, Six Months Ended June 30, (in thousands, except per share amounts) 2025 2024 2025 2024 Revenues $ 144,054 $ 151,414 $ 299,860 $ 292,288 Costs and expenses: Cost of operations 100,812 118,337 226,052 229,055 Selling, general and administrative expenses 34,008 36,635 63,025 65,150 Research and development costs 941 890 1,298 1,542 Impairment of long-lived assets — — 950 — Loss on asset disposals, net 165 — 173 — Total costs and expenses 135,926 155,862 291,498 295,747 Operating income (loss) 8,128 ( 4,448 ) 8,362 ( 3,459 ) Other (expense) income: Interest expense ( 10,992 ) ( 11,967 ) ( 22,034 ) ( 23,980 ) Interest income 537 160 777 307 Loss on debt extinguishment — ( 1,053 ) — ( 6,124 ) Benefit plans, net ( 776 ) 66 ( 1,555 ) 136 Foreign exchange 1,237 1,395 862 1,005 Other expense, net ( 294 ) ( 22 ) ( 625 ) ( 391 ) Total other expense, net ( 10,288 ) ( 11,421 ) ( 22,575 ) ( 29,047 ) Loss before income tax expense ( 2,160 ) ( 15,869 ) ( 14,213 ) ( 32,506 ) Income tax expense 3,892 4,678 5,844 5,663 Loss from continuing operations ( 6,052 ) ( 20,547 ) ( 20,057 ) ( 38,169 ) (Loss) income from discontinued operations, net of tax ( 52,440 ) 45,953 ( 60,442 ) 46,742 Net (loss) income attributable to stockholders ( 58,492 ) 25,406 ( 80,499 ) 8,573 Less: Dividend on Series A preferred stock 3,715 3,715 7,430 7,429 Net (loss) income attributable to stockholders of common stock $ ( 62,207 ) $ 21,691 $ ( 87,929 ) $ 1,144 Basic (loss) earnings per share: Continuing operations $ ( 0.10 ) $ ( 0.26 ) $ ( 0.28 ) $ ( 0.51 ) Discontinued operations ( 0.53 ) 0.50 ( 0.61 ) 0.52 Basic (loss) earnings per share $ ( 0.63 ) $ 0.24 $ ( 0.89 ) $ 0.01 Diluted (loss) earnings per share: Continuing operations $ ( 0.10 ) $ ( 0.26 ) $ ( 0.28 ) $ ( 0.51 ) Disconti

View Full Filing

View this 10-Q filing on SEC EDGAR

View on Read The Filing