Business Wire·Nov 9, 2026, 4:33 PM ET

Babcock & Wilcox Enterprises Reports Third Quarter 2026 Results

Babcock & Wilcox reported third-quarter 2026 revenue of $290.8 million, a 109% increase compared to the same period in 2025.
Net income for the quarter was $93.9 million, driven by a $85.1 million gain from the change in fair value of customer warrants.
Earnings per share reached $0.61, up from $0.30 in the third quarter of 2025.
Adjusted EBITDA totaled $17.7 million, representing an 88% increase from the prior year period.
Bookings for the quarter were $228 million, a 112% increase compared to the third quarter of 2025.
Backlog grew to $2.5 billion, a 571% increase from the same period in 2025.
The global pipeline exceeds $16 billion, including over 6 gigawatts of new incremental power opportunities.
The company repurchased $38 million in shares during the quarter under its authorized program.
Babcock & Wilcox completed the full redemption of $62 million in outstanding 6.5% bonds due in December 2026.
The company issued a full-year 2027 Adjusted EBITDA target range of $125 million to $140 million.
Revenue growth was primarily driven by increased large project volume, including $77.8 million from Base Electron.
Total debt decreased to $166.4 million following the bond redemption, resulting in the lowest company debt levels in recent history.
Cash, cash equivalents, and restricted cash balance was $128.9 million as of September 30, 2026.
A conference call to discuss results is scheduled for November 9, 2026, at 5 p.m. ET.
Management cited rising global electricity demand as a key driver for increased needs in utilities, industrials, and data centers.
Significant progress was reported on a North Dakota data center project, with nearly all permits secured.
The company reiterated its full-year 2026 Adjusted EBITDA target range of $80.0 million to $105.0 million.