Q2 2025 Babcock & Wilcox Enterprises Inc Earnings Call Transcript
Key Points
- Babcock & Wilcox Enterprises Inc (BW) reported a 31% increase in revenues from its parts and services business compared to the second quarter of 2024, driven by rising demand for power and electricity.
- Adjusted EBITDA, including Diamond Power, was $21.6 million for the second quarter, exceeding Street expectations by over 70%.
- The company completed the sale of Diamond Power International for $177 million, significantly improving its balance sheet and net leverage ratios.
- Babcock & Wilcox Enterprises Inc (BW) has a backlog of $418.1 million at the end of the second quarter, a 49% increase compared to the same period in 2024.
- The company is actively pursuing large upgrades and new builds in the US to support power generation needs, with key announcements expected by the end of the year.
- Consolidated revenues for the second quarter were $144.1 million, slightly lower compared to the second quarter of 2024 due to timing of large project revenue recognition.
- Net loss from continuing operations in the second quarter of 2025 was $6.1 million, although this was an improvement compared to a net loss of $20.5 million in the second quarter of 2024.
- The company is still working through refinancing and reduction of current debt obligations, with total debt at June 30, 2025, standing at $471.3 million.
- Revenue from continued operations without Diamond Power for the quarter was roughly the same as the second quarter of 2024, indicating a lack of growth in certain areas.
- Large project revenue is expected to remain volatile, with fluctuations each quarter depending on timing and overlap of new bookings.
Good afternoon, and thank you for attending today's Babcock and Wilcox Enterprises second-quarter 2025 conference call. (Operator Instructions)
I would now like to turn the conference over to our host, Sharyn Brooks, B&W's Director of Communications. Thank you. You may proceed, Mrs. Brooks.
Thank you, Jayla, and thanks to everyone for joining us on Babcock & Wilcox Enterprises second-quarter 2025 earnings conference call. As Jayla said, I'm Sharyn Brooks, Director of Communications and Marketing. Joining the call today are Kenny Young, B&W's Chairman and Chief Executive Officer; and Cameron Frymyer, Chief Financial Officer, to discuss our second-quarter results.
During this call, certain statements we make will be forward-looking. These statements are subject to risks and uncertainties, including those set forth in our Safe Harbor provision for forward-looking statements that can be found at the end of our earnings press release, and also in our Form
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