Babcock & Wilcox Enterprises

Babcock & Wilcox helps power plants run cleanly and efficiently. They make equipment that turns fuel into electricity for big cities. Their systems also help factories reduce harmful smoke and waste.

Cleaning Up the Energy Grid

• Renewable Energy: Technologies for turning waste and biomass into power; includes solar installation and black liquor systems for pulp and paper plants.
• Environmental Solutions: Systems that cool industrial equipment and remove pollutants; handles ash, nitrogen oxides, and sulfur dioxides from emissions.
• Thermal Power: Steam generation equipment and aftermarket parts; provides construction, maintenance, and field services for the oil and gas and utility sectors.

Selling Assets to Build Value

• Entered a $2.4 billion definitive agreement with Base Electron in February 2026 to install four natural gas-fired power plants.
• Sold the Diamond Power business to Andritz AG in July 2025 for $177 million to focus on core operations.
• Completed the sale of the ASH business to Andritz AG for $29 million in October 2025.
• Divested the Vølund business to Kanadevia Inova Denmark A/S in April 2025 to reduce debt and support working capital.
• Issued shares and warrants to Applied Digital in November 2025 as part of a project to power artificial intelligence factories.

Expertise in Global Infrastructure

Babcock & Wilcox operates manufacturing facilities in the United States, Mexico, and Canada to serve a global customer base. The company uses nearly 160 years of engineering history to provide specialized emissions control for utilities, municipalities, and industrial clients.

Tracking the Recent Results

• Revenue reached $214.4 million in Q1 2026, up 44.3% from $148.6 million in Q1 2025.
• Operating loss narrowed to -$1.7 million in Q1 2026, an improvement from a -$1.8 million loss in Q1 2025.
• Net loss deepened to -$76.9 million in Q1 2026, worsened by a $70.2 million non-cash warrant charge from a -$22 million loss in Q1 2025.
• Operating cash flow reached $17.8 million in Q1 2026, an improvement from -$8.5 million in the prior year.
• Total backlog stood at $2.7 billion as of March 31, 2026, following a major agreement with Base Electron, an Independent Power Producer (IPP).

A Strategy of Simplification

Babcock & Wilcox has evolved from a broad industrial manufacturer into a specialized energy technology provider focused on renewable and environmental solutions. Recent divestitures and large-scale power contracts reflect a strategy to simplify the business and address the growing demand for electricity from fossil fuels.