Company: BWNB
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001630805-25-000090
Chunk: 128

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 8
Chunk 128
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 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.An analysis of our operations by segment is as follows:Three Months Ended September 30,Nine Months Ended September 30,(in thousands)2025202420252024Revenues:    B&W Thermal segment    Parts$55,660 $52,938 $155,225 $127,888 Projects37,648 26,276 90,939 80,956 Construction24,963 30,162 99,667 103,458 118,271 109,376 345,831 312,302 B&W Renewable segment    Parts4,876 3,275 16,031 13,888 Projects4,520 2,938 16,277 14,402 Construction5,797 3,313 16,111 11,776 15,193 9,526 48,419 40,066 B&W Environmental segment    Parts7,909 5,458 29,098 24,989 Projects7,638 28,272 25,525 67,628 15,547 33,730 54,623 92,617 Elimination of intersegment revenues— (1)(2)(66)Total Revenue$149,011 $152,631 $448,871 $444,919 

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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 September 30, 2025(in thousands)B&W Thermal segmentB&W Renewable segmentB&W Environmental segmentTotalRevenue$118,271 $15,193 $15,547 $149,011 Cost of operations88,646 11,265 10,349 110,260 General & administrative expense (1)7,302 1,991 1,106 10,399 Selling & marketing expense (1)7,155 1,287 1,256