Company: BWNB
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001630805-25-000090
Chunk: 79

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 79
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 in product mix.

Loss from continuing operations decreased by $21.2 million to $22.4 million compared to a loss of $43.6 million in the nine months ended September 30, 2024, primarily due to the revenue increase as described above and an increase in gross profit due to the improvement in cost of operations in product mix. We benefited from an interest expense reduction and a gain on debt extinguishment compared to a loss in 2024.

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Other Expenses Impacting Operating Results

Interest Expense

Three Months Ended September 30,Nine Months Ended September 30,(in thousands)2025202420252024Components associated with borrowings from:    Senior Notes due 2026$3,893 $6,407 $15,414 $19,098 Senior Notes due 20302,426 — 3,464 — Revolving Credit Facility469 678 2,734 3,639 6,788 7,085 21,612 22,737 Components associated with amortization or accretion of:    Revolving Credit Agreement901 1,326 3,987 3,951 Senior Notes due 2026396 653 1,540 1,947 Senior Notes due 2030(1,247)— (1,824)— 50 1,979 3,703 5,898     Components associated with interest from:    Lease liabilities603 580 1,839 1,683 Letter of credit interest and fees1,309 386 3,201 3,195 Other interest expense391 27 820 524 Capitalized interest(641)— (641)— 1,662 993 5,219 5,402    Total interest expense$8,500 $10,057 $30,534 $34,037 

Interest expense for the three and nine months ended September 30, 2025 is lower compared to the three and nine months ended September 30, 2024 due to the debt refinancing transactions that occurred in 2025 that results in lower base principal and will result in accretion of the gain over the life of the debt. See Note 13 in the Condensed Consolidated Financial Statements for further details.

Income Taxes

Three Months Ended September 30,Nine Months Ended September 30,(in thousands, except for percentages)202520