Every 10-Q that Babcock & Wilcox Enterprises, Inc. 6.50% Senior Notes due 2026 (BWNB) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow BWNB and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full BWNB filings page.
Babcock & Wilcox Enterprises reported significantly higher Q2 2026 revenue of $319.7 million, up from $138.9 million, driven largely by large project volume including $100.7 million from a new Base Electron power-plant contract. Operating income rose to $11.8 million from $7.0 million, and income from continuing operations improved to $14.3 million versus a loss of $7.4 million a year earlier, helped by lower interest expense and a favorable change in customer warrant fair value in the quarter.
For the first six months of 2026, revenue reached $534.1 million versus $287.5 million, but the company recorded a loss from continuing operations of $65.4 million, largely due to a $64.4 million non‑cash loss from remeasurement of customer warrants tied to the Base Electron project. Cash, cash equivalents and restricted cash increased to $382.8 million, and total backlog was $2.6 billion, with about 42% expected to be recognized as revenue by the end of 2027. The balance sheet shifted from a stockholders’ deficit to $57.4 million of equity after raising $259.8 million of common equity and repurchasing part of the 6.50% Senior Notes due 2026, with a July 2026 notice to redeem the remaining $61.4 million and a new $50 million share repurchase authorization.
Babcock & Wilcox Enterprises’ quarter ended March 31, 2026 showed much stronger revenue but a sharply higher loss. Revenue rose to $214.4 million from $148.6 million, driven mainly by large project activity, including $31.0 million from the new Base Electron power plant contract linked to AI‑driven electricity demand.
Despite the top-line growth, the company reported a loss from continuing operations of $79.6 million, compared with $15.6 million a year earlier. The wider loss was largely due to a non‑cash $70.2 million increase in the fair value of customer warrants tied to Applied Digital/Base Electron as the share price rose, plus higher stock‑based compensation and tax expense. Excluding these and other adjustments, Adjusted EBITDA improved to $16.1 million from $4.0 million, reflecting stronger underlying project performance.
Cash, cash equivalents and restricted cash totaled $194.8 million, and management states that substantial doubt about the company’s ability to continue as a going concern has been alleviated. Backlog reached $2.7 billion, with revenue expected over multiple years, while stockholders’ deficit stood at $172.1 million and total liabilities at $929.9 million.
Babcock & Wilcox Enterprises (BW) reported Q3 2025 results. Revenue was $149.0 million versus $152.6 million a year ago. Operating income rose to $6.5 million from $1.6 million, but continuing operations posted a loss before tax of $1.3 million. Net income to common was $31.4 million, or $0.30 per share, driven by a $53.2 million gain from the July sale of Diamond Power recorded in discontinued operations.
For the first nine months, revenue was $448.9 million and the net loss to common was $56.6 million. Operating cash flow used was $65.9 million, offset by $172.4 million provided by investing activities mainly from asset sales. Cash and cash equivalents were $24.4 million, with $165.5 million current restricted cash. Stockholders’ deficit was $232.2 million.
The company disclosed that prior conditions raised “substantial doubt” about continuing as a going concern, but cited actions including $187.5 million of 2025 divestiture proceeds, $32.5 million raised via an at‑the‑market program, exchanges and redemptions of notes, full repayment of the revolving balance leaving $81.1 million of borrowing capacity, and extending the credit facility maturity to November 30, 2026. Backlog was $393.5 million.