Company: BWNB
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001630805-25-000007
Chunk: 57

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 57
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 amounts)202420232022Net loss from continuing operations $(72,962)$(75,794)$(14,186)Net (loss) income attributable to non-controlling interest(136)(237)3,723 Less: Dividend on Series A preferred stock14,859 14,858 14,860 Loss from continuing operations attributable to stockholders of common stock(87,957)(90,889)(25,323)Income (loss) from discontinued operations, net of tax13,183 (121,177)(12,398)Net loss attributable to stockholders of common stock(74,774)(212,066)(37,721)Weighted average shares used to calculate basic and diluted loss per share91,717 89,011 88,256 Basic and diluted (loss) income per shareContinuing operations$(0.96)$(1.02)$(0.29)Discontinued operations0.14 (1.36)(0.14)Basic and diluted loss per share$(0.82)$(2.38)$(0.43)Basic and diluted shares are the same in the years ended December 31, 2024, 2023 and 2022 because we incurred a loss in each of those years.If we had net income in the years ended December 31, 2024, 2023 and 2022, diluted shares would include an additional 0.3 million, 0.3 million and 0.7 million shares, respectively.We excluded 2.2 million, 2.3 million and 2.1 million shares related to stock options from the diluted share calculation for the years ended December 31, 2024, 2023 and 2022 respectively, because their effect would have been anti-dilutive.

NOTE 4 – ASSETS AND LIABILITIES HELD FOR SALE AND DISCONTINUED OPERATIONS

Assets Held for SaleDuring 2024, we engaged in a strategy and developed a formalized plan to divest certain non-core businesses to reduce our debt, improve our balance sheet and increase liquidity. As of December 31, 2024, we have divested our BWRS, SPIG and GMAB businesses, and have a plan to divest our Vølund business in 2025, as discussed below. Each of these businesses were classified as held for sale and were determined to qualify as discontinued operations, primarily based upon their significance to our current and historic operating