Company: BWNB
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001630805-25-000090
Chunk: 164

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 8
Chunk 164
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 consolidated Adjusted EBITDA because we believe it is useful to investors to help facilitate comparisons of the ongoing, operating performance before corporate overhead and other expenses not attributable to the operating performance of our revenue generating segments. Additionally, the Company redefined its definition of Adjusted EBITDA to eliminate the effects of certain items including interest on letters of credit included in Cost of operations and product development costs. Prior period results have been revised to conform with the revised definition and present separate reconciling items in our reconciliation. 

Three Months Ended September 30,Nine Months Ended September 30,(in thousands)2025202420252024Net income (loss)$35,092 $(5,332)$(45,407)$3,242 Income (loss) from discontinued operations, net of tax37,434 2,579 (23,008)46,804 Loss from continuing operations(2,342)(7,911)(22,399)(43,562)Interest expense, net8,144 9,898 29,401 33,571 Income tax expense1,028 (508)6,872 2,637 Depreciation & amortization2,877 2,812 7,329 8,791 EBITDA9,707 4,291 21,203 1,437     Impairment of long-lived assets— — 950 — Benefit plans, net783 (67)2,338 (203)Loss on asset disposals, net557 — 730 — Stock compensation746 938 2,267 3,637 Restructuring activities— 134 111 1,144 Settlements and related legal costs322 (61)858 3,235 (Gain) loss on debt extinguishment(1,730)665 (1,730)6,789 Foreign exchange466 (1,230)(396)(2,235)Financial advisory services1,588 2,535 6,755 2,884 Other - net210 757 776 2,034 Adjusted EBITDA$12,649 $7,962 $33,862 $18,722 

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Three Months Ended September 30,Nine Months Ended September 30,(in thousands)2025202420252024Adjusted EBITDA    B&W Thermal$15,168 $13,382 $40