Q1 2026 Babcock & Wilcox Enterprises Inc Earnings Call Transcript
Key Points
- Babcock & Wilcox Enterprises Inc (BW) reported a significant increase in revenue, reaching $214 million for the first quarter of 2026, a 44% increase compared to the first quarter of 2025.
- The company achieved an adjusted EBITDA of $16.1 million, marking a 296% increase compared to the first quarter of 2025.
- Bookings surged to $2.5 billion, representing a more than 1,900% increase compared to the first quarter of 2025.
- The company's backlog increased by 483% to $2.7 billion, indicating strong future demand.
- Babcock & Wilcox Enterprises Inc (BW) successfully reduced its net debt to $42.4 million, significantly lowering its debt burden by 87% in the first quarter of 2026.
- The company reported an operating loss of $1.7 million for the first quarter of 2026, which is relatively flat compared to the previous year.
- Net loss from continuing operations increased to $79.6 million, primarily due to $81.8 million in noncash warrant and stock-related costs.
- Despite strong revenue growth, the company faces challenges with elevated natural gas prices impacting coal-based generation economics.
- The company's guidance remains unchanged, indicating uncertainty in shifting projects into construction or pulling forward manufacturing.
- There is a reliance on the successful execution of large projects, such as the Base Electron project, which could impact future revenue if delayed.
Good afternoon. Thank you for attending the Babcock & Wilcox Enterprises first-quarter 2026 conference call. (Operator Instructions)
I would now like to turn the conference over to your host, Sharyn Brooks, B&W's Director of Communications. Thank you. You may proceed, Ms. Brooks.
Thank you, Allen, and thanks to everyone for joining us in Babcock & Wilcox Enterprises first-quarter 2026 earnings conference call. I'm Sharyn Brooks, Director of Communications. Joining the call today are Kenny Young, B&W's Chairman and Chief Executive Officer; and Cameron Frymyer, Chief Financial Officer, to discuss our first 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 in our quarterly report on Form 10-Q that was filed with
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