Company: BWNB
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001630805-25-000090
Chunk: 118

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 8
Chunk 118
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0.51 Basic and diluted earnings (loss) per common share$0.30 $(0.10)$(0.57)$(0.09)In accordance with GAAP, dilution is assessed on the basis of continuing operations. We incurred a net loss from continuing operations in the three and nine months ended September 30, 2025 and 2024, therefore the basic and diluted shares are the same for those periods. If we had net income from continuing operations attributable to stockholders of common stock in the three months ended September 30, 2025 and 2024, diluted shares would have included an additional 0.9 million and 0.4 million shares, respectively. If we had net income from continuing operations attributable to stockholders of common stock in the nine months ended September 30, 2025 and 2024, diluted shares would have included an additional 0.6 million and 0.1 million shares, respectively.

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We excluded 0.7 million and 1.8 million shares related to stock options from the diluted share calculation for the three months ended September 30, 2025 and 2024, respectively, because their effect would have been anti-dilutive. We excluded 2.1 million and 2.2 million shares related to stock options from the diluted share calculation from the nine months ended September 30, 2025 and 2024, respectively, because their effect would have been anti-dilutive.

NOTE 3 – DIVESTITURES

2025 DivestituresVølundOn April 29, 2025, Babcock & Wilcox A/S ("BWAS"), a subsidiary of the Company, sold substantially all of its assets, including intellectual property, specific project contracts as well as related agreements with suppliers and certain tangible assets, to Kanadevia Inova Denmark A/S (the "Buyer"). The sale was comprised of a simultaneous transfer of assets from BWAS to a newly incorporated BWAS subsidiary (the "NewCo") pursuant to a business transfer agreement ("BTA"), and sale of NewCo by BWAS to the Buyer pursuant to a share purchase agreement (the "SPA" and together with the BTA, the "Purchase Agreements").The Purchase Agreements provide for a base purchase price equal to $15.0 million plus $0.1 million (400,000 Danish krone), subject to certain offsets and adjustments, including additional payments to BWAS if the Buyer enters