Company: BWNB
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001630805-25-000019
Chunk: 36

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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abcock & Wilcox Environmental: The B&W Environmental segment offers a full suite of emissions control and environmental technology solutions for utility, waste-to-energy, biomass-to-energy, carbon black, and industrial steam generation applications around the world. Our broad experience includes systems for ash handling, particulate control, nitrogen oxides and sulfur dioxides removal, chemical looping for carbon control, and mercury control.•Babcock & Wilcox Thermal: The B&W Thermal segment offers steam generation equipment, aftermarket parts, construction, maintenance and field services for plants in the power generation, oil and gas, and industrial sectors. We have an extensive global base of installed equipment for utilities and general industrial applications including refining, petrochemical, food processing, metals and others.The CODM assesses each segment's performance by using each segment's Adjusted EBITDA. The CODM considers budget-to-actual and forecast-to-actual variances on a quarterly basis when making decisions about the allocation of operating and capital resources to each segment. Adjusted EBITDA by segment includes all items relating to the businesses; items that apply to B&W as a whole are assigned to Corporate. We do not separately identify or report assets by segment as the CODM does not consider assets by segment to be a critical measure by which performance is measured.

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An analysis of our operations by segment is as follows:Three Months Ended March 31,(in thousands)20252024Revenues:B&W Renewable segmentParts$20,592 $18,367 Projects6,058 5,982 Construction1,891 3,109 28,541 27,458 B&W Environmental segmentParts7,010 7,157 Projects7,397 19,551 14,407 26,708 B&W Thermal segmentParts64,915 53,643 Projects32,116 22,794 Construction41,215 33,750 138,246 110,187 Elimination of intersegment revenues— (65)Total Revenue$181,194 $164,288 

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The following tables provide information about our segments, as well as the "Corporate/Other Segment" category and include the reconciliation of Revenue to Adjusted EBITDA to Loss from continuing operations before income tax expense:Three Months Ended March 31, 2025(in thousands)B&W Renewable segmentB&W Environmental segmentB&W Thermal segmentTotalRevenue$28,541 $14,407 $138,246 $