Company: BWNB
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001630805-25-000062
Chunk: 2

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 2
Chunk 2
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, revenue increased to $29.6 million from $23.0 million in the three months ended June 30, 2024, primarily due to higher energy demand creating the need for additional boiler cleaning products and growth in the EMEA aftermarket. Operating income for the three months ended June 30, 2025 was $6.4 million, which is slightly 

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higher than the Operating income of $4.6 million for the three months ended June 30, 2024 as a result of growth in revenue as described above.

For the six months ended June 30, 2025, revenue increased to $55.0 million from $46.4 million in the six months ended June 30, 2024, primarily due to higher energy demand creating the need for additional boiler cleaning products and growth in the EMEA aftermarket. Operating income for the six months ended June 30, 2025 was $12.0 million, which is slightly higher than the Operating income of $9.3 million for the six months ended June 30, 2024 as a result of growth in revenue as described above.

Vølund

During the fourth quarter of 2024, we committed to a plan to sell our Vølund business, resulting in a significant change that would impact our business. We sold our Vølund business on April 29, 2025, described further in Note 3 to the Condensed Consolidated Financial Statements.

The revenue and operating results for the three and six months ended June 30, 2025 represent the financial results for January through April 2025 operations as well as the net loss on the sale primarily from the write off of CTA.

B&W Solar

We continue to meet all of the criteria for the assets and liabilities of this business, formerly part of our B&W Renewable segment, to be accounted for as held for sale. In addition, we also determined that the operations of the B&W Solar business qualified as a discontinued operation, primarily based upon its significance to our current and historic operating losses.

For the three months ended June 30, 2025, revenue decreased to $— million from $22.5 million in the three months ended June 30, 2025 as a result of significantly less work year over year as we completed remaining projects. Operating (loss) income for the three months ended June 30, 2025 decreased to $(11.1) million from $0.4 million in the three months ended June