Company: BWNB
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001630805-25-000062
Chunk: 130

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 8
Chunk 130
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 three months ended June 30, 2025 and 2024, respectively, and 94% and 92% of revenue for the six months ended June 30, 2025 and 2024, respectively.Refer to Note 5 to the Condensed Consolidated Financial Statements for further disaggregation of revenue.Contract BalancesThe following represents the components of Accounts receivable - trade, net, Contracts in progress and Advance billings on contracts included in the Condensed Consolidated Balance Sheets. We are also including accrued contract losses included in Other accrued liabilities in the Condensed Consolidated Balance Sheets.(in thousands)June 30, 2025December 31, 2024$ Change% ChangeAccounts receivable - trade, net$97,699 $94,509 $3,190 3 %Contracts in progress$70,849 $79,392 $(8,543)(11)%Advance billings on contracts$59,147 $57,814 $1,333 2 %Accrued contract losses$1 $217 $(216)(100)%(in thousands)June 30, 2024December 31, 2023$ Change% ChangeAccounts receivable - trade, net$97,559 $80,474 $17,085 21 %Contracts in progress$77,180 $47,454 $29,726 63 %Advance billings on contracts$60,560 $60,280 $280 — %Accrued contract losses$33 $46 $(13)(28)%For the six months ended June 30, 2025 and 2024, we recognized 91% and 77% of the revenue related to amounts that were included in advance billings on contracts as of December 31, 2024 and 2023, respectively.Backlog At June 30, 2025, we had $418.1 million of remaining performance obligations, which we also refer to as total backlog. We expect to recognize approximately 55%, 43% and 2% of the remaining performance obligations as revenue in 2025, 2026 and thereafter, respectively.

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NOTE 7 – INVENTORIES, NET

Inventories are stated at the lower of cost or net realizable value. Certain raw material inventory is sold to our customers directly and without further processing. The components of Inventories, net included in the Condensed Consolidated