AI Earnings Predictions for Babcock & Wilcox Enterprises Inc. (BW)

bw-20260511

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15 (d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 11, 2026

BABCOCK & WILCOX ENTERPRISES, INC.

(Exact name of registrant as specified in its charter)

Delaware001-3687647-2783641

(State or other jurisdiction of incorporation)(Commission File Number)(IRS Employer Identification No.)

1200 East Market Street

Suite 650

Akron,Ohio44305

(Address of Principal Executive Offices)(Zip Code)

Registrant’s Telephone Number, including Area Code: (330) 753-4511

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each ClassTrading SymbolName of Each Exchange on which Registered

Common stock, $0.01 par value per shareBWNew York Stock Exchange

6.50% Senior Notes due 2026BWNBNew York Stock Exchange

7.75% Series A Cumulative Perpetual Preferred StockBW PRANew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 2.02 Results of Operations and Financial Condition

On May 11, 2026, the Company issued a press release announcing its financial results for the quarter ended March 31, 2026. A copy of the press release is attached as Exhibit 99.1, and the information contained in Exhibit 99.1 is incorporated herein by reference.

The information furnished pursuant to this Item 2.02, including Exhibit 99.1, shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit No.Description

99.1 Press release dated May 11, 2026

104Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)

2

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

BABCOCK & WILCOX ENTERPRISES, INC.

May 11, 2026

By:

/s/ Cameron Frymyer

Cameron Frymyer

Executive Vice President and Chief Financial Officer (Principal Financial and Accounting Officer and Duly Authorized Representative)

3

EX-99.1

2 tm267910d1_ex99-1.htm

EXHIBIT 99.1

Exhibit 99.1

News Release

Babcock & Wilcox Reports Fourth Quarter and Full Year 2025 Results

·Revenue, Operating Income and EBITDA all ahead of street expectations

·Revenue in fourth quarter of $161.0 million

·Operating income in the fourth quarter of $12.2 million, compared to operating income of $2.6 million in the same period of 2024

·Adjusted EBITDA from Continuing Operations in the fourth quarter of $16.4 million, a 53% increase compared to the same period of 2024

·Parts & services revenues increased 17% in 2025, continuing to outperform expectations due to increased coal generation usage and higher baseload demand in North America

·Paid off outstanding bonds due February 2026 in December 2025

·Signed full notice to proceed for a $2.4 billion AI data center project

·Total global pipeline continues to grow and now exceeds $12.0 billion

·Continuing Operations Backlog of $2.8 billion, including the $2.4 billion data center project

·Significantly reduced debt on balance sheet, resulting in net debt of $119.7 million

Q4 2025 Continuing Operations Financial Highlights

·Revenue of $161.0 million, compared to revenue of $161.8 million in the fourth quarter of 2024

·Loss from Continuing Operations of $3.5 million, compared to a loss from Continuing Operations of $53.8 million in the fourth quarter of 2024

·Loss per share of $0.05, compared to a loss per share of $0.61 in the fourth quarter of 2024

·Adjusted EBITDA from Continuing Operations of $16.4 million, compared to Adjusted EBITDA from Continuing Operations of $10.7 million in the fourth quarter of 2024

Full Year 2025 Continuing Operations Financial Highlights

·Revenue of $587.7 million, compared to revenue of $581.0 million in 2024

·Loss from Continuing Operations of $32.8 million, compared to a loss from Continuing Operations of $104.3 million in 2024

·Loss per share of $0.45, compared to a loss per share of $1.30 in 2024

·Adjusted EBITDA from Continuing Operations of $43.7 million, compared to $21.2 million in 2024

·Backlog of $2.8 billion with the inclusion of recent data center project, a 470% increase compared to the end of 2024

(AKRON, Ohio – March 4, 2026) – Babcock & Wilcox Enterprises, Inc. ("B&W", "Babcock & Wilcox" or the "Company") (NYSE: BW) announced it has entered into an agreement for the full notice to proceed on a $2.4 billion project with Base Electron, backed by Applied Digital (NASDAQ: APLD), advancing the November 2025 limited notice to proceed for 1.2 GW of efficient natural gas technology for AI Factory campuses. The company also announced its financial results for the fourth quarter and full year 2025.

"During the fourth quarter of 2025, we delivered strong operating results while displaying continued core business momentum and achieving a substantial reduction of debt on our balance sheet," said Kenneth Young, B&W Chairman and Chief Executive Officer. "Adjusted EBITDA and Operating Income significantly outperformed consensus street expectations for the quarter. The improvements in our operating results demonstrate B&W's evolution and the notable strategic advancements we have made since 2024. Additionally, our core parts & services continued to excel in the fourth quarter, reflecting tailwinds from increased coal baseload generation usage due to higher demand from consumers, industrials and data centers. During the quarter we paid off the remaining bonds due in February 2026 and plan to pay off the December 2026 bonds in a timely fashion. We have reduced our senior debt levels and recently extended the maturity date of our Axos facility."

“Our full year 2025 results reflect the major strides that Babcock & Wilcox has taken in the past year. We have rightsized our balance sheet, reduced our debt, and continued to develop a robust pipeline and backlog supplemented by innovative new partnerships. We saw significant year-over-year increases in adjusted EBITDA and our core parts & services across 2025, indicating that the strategic actions we have implemented are delivering measurable bottom-line results. We continue to make progress in converting our global pipeline of identified project opportunities and we believe these results reflect a strong global demand for our technologies, underpinning our pipeline and outlook for sustained growth as we move into 2026."

"Building on our strong financial results, our announcement of full notice to proceed on our project with Base Electron is an exciting step forward as B&W further expands into power generation for the rapidly evolving AI Data Center space," Young said. “We believe that our proven and previously installed natural gas-fired boilers and related technologies – as well as steam turbines supplied through an agreement with Siemens Energy – will provide the reliable, high-capacity energy generation on the fast-track schedule that is required to meet the demand of the power grid today. We are in discussions on ot