Babcock & Wilcox Enterprises, Inc.
For the period ended Sep 30, 2025. Filed Nov 10, 2025.
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, 2025 · Filed Nov 10, 2025
BW$3.79+16.6%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Financial Statements
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
| Three Months EndedSeptember 30, | Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| (in thousands, except per share amounts) | 2025 | 2024 | 2025 | 2024 |
| Revenues | $149,011 | $152,631 | $448,871 | $444,919 |
| Costs and expenses: | ||||
| Cost of operations | 111,869 | 116,517 | 337,921 | 345,572 |
| Selling, general and administrative expenses | 29,782 | 33,335 | 92,807 | 98,485 |
| Research and development costs | 303 | 1,212 | 1,601 | 2,754 |
| Impairment of long-lived assets | — | — | 950 | — |
| Loss on asset disposals, net | 557 | — | 730 | — |
| Total costs and expenses | 142,511 | 151,064 | 434,009 | 446,811 |
| Operating income (loss) | 6,500 | 1,567 | 14,862 | (1,892) |
| Other (expense) income: | ||||
| Interest expense | (8,500) | (10,057) | (30,534) | (34,037) |
| Interest income | 356 | 159 | 1,133 | 466 |
| Gain (loss) on debt extinguishment | 1,730 | (665) | 1,730 | (6,789) |
| Benefit plans, net | (783) | 67 | (2,338) | 203 |
| Foreign exchange | (466) | 1,230 | 396 | 2,235 |
| Other expense, net | (151) | (720) | (776) | (1,111) |
| Total other expense, net | (7,814) | (9,986) | (30,389) | (39,033) |
| Loss before income tax expense | (1,314) | (8,419) | (15,527) | (40,925) |
| Income tax expense (benefit) | 1,028 | (508) | 6,872 | 2,637 |
| Loss from continuing operations | (2,342) | (7,911) | (22,399) | (43,562) |
| Income (loss) from discontinued operations, net of tax | 37,434 | 2,579 | (23,008) | 46,804 |
| Net income (loss) attributable to stockholders | 35,092 | (5,332) | (45,407) | 3,242 |
| Less: Dividend on Series A preferred stock | 3,715 | 3,715 | 11,145 | 11,144 |
| Net income (loss) attributable to stockholders of common stock | $31,377 | $(9,047) | $(56,552) | $(7,902) |
| Basic and diluted earnings (loss) per share: | ||||
| Continuing operations | $(0.06) | $(0.13) | $(0.34) | $(0.60) |
| Discontinued operations | 0.36 | 0.03 | (0.23) | 0.51 |
| Basic and diluted earnings (loss) per share | $0.30 | $(0.10) | $(0.57) | $(0.09) |
| Shares used in the computation of earnings (loss) per share: | ||||
| Basic and diluted | 103,047 | 92,252 | 99,918 | 90,932 |
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| (in thousands) | 2025 | 2024 | 2025 | 2024 |
| Net income (loss) | $35,092 | $(5,332) | $(45,407) | $3,242 |
| Other comprehensive income (loss): | ||||
| Currency translation adjustments | 4,170 | 3,241 | 6,769 | (2,150) |
| Recognition of currency translation adjustments to net income | 13,981 | — | 66,627 | 1,201 |
| Benefit obligations: | ||||
| Pension and post retirement adjustments, net of tax | 124 | 231 | 371 | 694 |
| Other comprehensive income (loss) | 18,275 | 3,472 | 73,767 | (255) |
| Total comprehensive income (loss) | 53,367 | (1,860) | 28,360 | 2,987 |
| Comprehensive loss (income) attributable to non-controlling interest from discontinued operations | — | 10 | (23) | 127 |
| Comprehensive income (loss) attributable to stockholders | $53,367 | $(1,850) | $28,337 | $3,114 |
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