Babcock & Wilcox Enterprises, Inc.

Babcock & Wilcox Enterprises reported a significant turnaround in its second quarter 2026 financial results, with revenue more than doubling and the company swinging to a net profit. This improvement follows the completion of a strategic initiative to divest non-core businesses, which has positively impacted the company's financial health, including a substantial increase in cash and a shift to positive stockholders' equity.

Babcock & Wilcox Enterprises reported strong second quarter 2026 financial results, significantly exceeding prior year performance and consensus expectations. Revenue surged 130% to $319.7 million, and the company swung to a net income of $14.3 million from a substantial loss. Adjusted EBITDA also saw a 57% increase, driven by strong demand for power generation solutions, particularly for AI data centers. The company also announced a $50 million share repurchase program, repurchased $61.8 million in bonds, and raised its full-year Adjusted EBITDA guidance.

Babcock & Wilcox Enterprises, Inc. announced that its Board of Directors authorized a share repurchase program of up to $50 million of its common stock, with repurchases expected to commence after the filing of its second-quarter 2026 Form 10-Q. Concurrently, the company issued a notice of redemption for all approximately $61.4 million aggregate principal amount outstanding of its 6.50% Senior Notes due 2026. The notes will be redeemed on August 13, 2026, at 100% of the principal amount plus any make-whole amount and accrued interest, after which no notes will remain outstanding.

Babcock & Wilcox Enterprises, Inc. announced that its board of directors approved a dividend of $0.4843750 per share for its outstanding 7.75% Series A Cumulative Perpetual Preferred Stock. The dividend will have a record date of June 20, 2026, and a payment date of June 30, 2026.

Babcock & Wilcox Enterprises, Inc. stockholders approved an amendment to the 2021 Long-Term Incentive Plan, increasing the total authorized shares for award grants from 5,250,000 to 10,250,000. However, proposals to declassify the Board and remove certain 80% voting requirements for charter and bylaw amendments both failed to receive the necessary affirmative votes. Stockholders also elected two Class II directors, ratified the appointment of BDO USA, P.C. as the independent auditor, and approved executive compensation on an advisory basis.

Babcock & Wilcox Enterprises, Inc. successfully completed its previously announced underwritten public offering of common stock on May 18, 2026. The company issued a total of 12,432,432 shares, which included the full exercise of the underwriters' option to purchase additional shares. Priced at $18.50 per share, the offering generated approximately $200 million in gross proceeds. The net proceeds are intended to prepay and reborrow under its Credit Agreement to fund project-related capital, working capital, growth initiatives like AI data center power generation and BrightLoopTM technology, potential acquisitions, and to strengthen the company's balance sheet.

Babcock & Wilcox Enterprises, Inc. announced the commencement of a proposed underwritten public offering of its common stock, aiming to raise $200 million. The company expects to grant underwriters a 30-day option to purchase up to an additional 15% of common stock. The net proceeds are intended to prepay existing debt under its Credit Agreement, with reborrowed amounts funding project-related capital, working capital, growth initiatives such as AI data center power generation and BrightLoopTM technology, potential acquisitions, and general corporate purposes.

Babcock & Wilcox Enterprises, Inc. posted an investor presentation highlighting its financial performance for the trailing twelve months ending March 31, 2026, with revenue of $653.5 million and an adjusted EBITDA of $55.8 million, alongside a net loss of $96.8 million. The company emphasized its strategic focus on capitalizing on significant growth opportunities, including a robust global pipeline of over $14 billion, driven by strong demand for baseload generation and AI data centers. Key initiatives include a 1.2 GW power project for an AI Factory and discussions for an additional 2 GW.

Babcock & Wilcox Enterprises, Inc. reported a significant increase in Q1 2026 revenues, up 44.3% to $214.4 million, but also a widened net loss of $(76.9) million, primarily due to a $(70.2) million non-cash expense from the change in fair value of customer warrants. Strategically, the company secured a substantial $2.4 billion agreement with Base Electron for the design and installation of four natural gas-fired power plants. The company's total backlog reached $2.7 billion, and management confirmed no substantial doubt about its ability to continue as a going concern.

Babcock & Wilcox Enterprises reported a strong start to 2026, with first-quarter revenue increasing 44% to $214.4 million and Adjusted EBITDA soaring 296% to $16.1 million, both exceeding consensus expectations. While the company posted a net loss from continuing operations of $79.6 million, this was primarily due to $81.8 million in non-cash warrant and stock appreciation rights valuations; adjusted net income from continuing operations was $2.2 million. The company also saw substantial growth in future indicators, with bookings up 1,971% to $2.5 billion, backlog increasing 483% to $2.7 billion, and its global pipeline growing 17% to over $14.0 billion. Additionally, net debt was significantly reduced by 87% to $42.4 million.