Babcock Wilcox Enterprises Inc
For the period ended Sep 30, 2024. Filed Nov 12, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 12, 2024
BW$3.79+16.6%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Financial Statements
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
| Three Months EndedSeptember 30, | Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| (in thousands, except per share amounts) | 2024 | 2023 | 2024 | 2023 |
| Revenues | $209,859 | $239,414 | $651,057 | $772,187 |
| Costs and expenses: | ||||
| Cost of operations | 160,038 | 186,034 | 498,265 | 603,715 |
| Selling, general and administrative expenses | 43,116 | 45,662 | 135,079 | 143,448 |
| Restructuring activities | 496 | 1,285 | 2,843 | 2,690 |
| Research and development costs | 1,420 | 898 | 3,681 | 3,130 |
| Loss (gain) on sale of business | 50 | — | (40,124) | — |
| Impairment on long-lived assets | 5,838 | — | 5,838 | — |
| Loss (gain) on asset disposals, net | 375 | (8) | 421 | (26) |
| Total costs and expenses | 211,333 | 233,871 | 606,003 | 752,957 |
| Operating (loss) income | (1,474) | 5,543 | 45,054 | 19,230 |
| Other (expense) income: | ||||
| Interest expense | (10,620) | (13,416) | (35,988) | (37,248) |
| Interest income | 293 | 301 | 885 | 892 |
| Loss on debt extinguishment | (665) | — | (6,789) | — |
| Benefit plans, net | 94 | (56) | 282 | (304) |
| Foreign exchange | 2,263 | (4,935) | 1,429 | (4,242) |
| Other expense, net | (797) | (43) | (371) | (675) |
| Total other expense, net | (9,432) | (18,149) | (40,552) | (41,577) |
| (Loss) income before income tax expense | (10,906) | (12,606) | 4,502 | (22,347) |
| Income tax expense (benefit) | 161 | (331) | 6,146 | 2,020 |
| Loss from continuing operations | (11,067) | (12,275) | (1,644) | (24,367) |
| Income (loss) from discontinued operations, net of tax | 5,736 | (104,485) | 4,886 | (109,880) |
| Net (loss) income | (5,331) | (116,760) | 3,242 | (134,247) |
| Net income attributable to non-controlling interest | (1) | (124) | (92) | (221) |
| Net (loss) income attributable to stockholders | (5,332) | (116,884) | 3,150 | (134,468) |
| Less: Dividend on Series A preferred stock | 3,715 | 3,714 | 11,144 | 11,144 |
| Net loss attributable to stockholders of common stock | $(9,047) | $(120,598) | $(7,994) | $(145,612) |
| Basic and diluted loss per share: | ||||
| Continuing operations | $(0.16) | $(0.18) | $(0.14) | $(0.40) |
| Discontinued operations | 0.06 | (1.17) | 0.05 | (1.24) |
| Basic and diluted loss per share | $(0.10) | $(1.35) | $(0.09) | $(1.64) |
| Shares used in the computation of basic and diluted loss per share | 92,252 | 89,125 | 90,932 | 88,882 |
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| (in thousands) | 2024 | 2023 | 2024 | 2023 |
| Net (loss) income | $(5,331) | $(116,760) | $3,242 | $(134,247) |
| Other comprehensive income (loss): | ||||
| Currency translation adjustments | 3,241 | (8,669) | (2,150) | (550) |
| Reclassification of currency translation adjustments to net income (loss) | — | — | 1,201 | — |
| Benefit obligations: | ||||
| Pension and post retirement adjustments, net of tax | 231 | 223 | 694 | 668 |
| Other comprehensive income (loss) | 3,472 | (8,446) | (255) | 118 |
| Total comprehensive (loss) income | (1,859) | (125,206) | 2,987 | (134,129) |
| Comprehensive loss attributable to non-controlling interest | 9 | — | 35 | 41 |
| Comprehensive (loss) income attributable to stockholders | $(1,850) | $(125,206) | $3,022 | $(134,088) |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.