Company: BWNB
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001630805-25-000062
Chunk: 6

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 2
Chunk 6
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 the revenue as described above and an increase in gross profit due to the improvement in cost of operations in product mix.

Loss from continuing operations decreased by $18.1 million to $20.1 million compared to a loss of $38.2 million in the six months ended June 30, 2024, primarily due to the revenue as described above and an increase in gross profit due to the improvement in cost of operations in product mix. 

Other Expenses Impacting Operating Results

42

Interest Expense

Three Months Ended June 30,Six Months Ended June 30,(in thousands)2025202420252024Components associated with borrowings from:Senior notes$5,201 $6,420 $11,521 $12,691 Senior Notes due 20301,038 — 1,038 — Revolving Credit Facility1,138 1,429 2,265 2,961 7,377 7,849 14,824 15,652 Components associated with amortization or accretion of:Revolving Credit Agreement1,477 1,476 3,086 2,625 Senior notes488 650 1,144 1,294 Senior Notes due 2030(577)— (577)— 1,388 2,126 3,653 3,919 Components associated with interest from:Lease liabilities645 555 1,236 1,103 Letter of credit interest and fees1,399 1,320 1,892 2,809 Other interest expense183 117 429 497 2,227 1,992 3,557 4,409 Total interest expense$10,992 $11,967 $22,034 $23,980 

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

Income Taxes

Three Months Ended June 30,Six Months Ended June 30,(In thousands, except for percentages)20252024$ Change20252024$ ChangeLoss from continuing operations before income tax expense$(2,160)$(15,