Company: BWNB
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001630805-25-000062
Chunk: 14

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 2
Chunk 14
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 primarily driven by the increased boiler parts and natural gas conversion project volume of $9.6 million, offset by lower margins for our construction project business due to large project closeouts occurring in 2024 that were not repeated in 2025 of $2.8 million.

B&W Renewable Segment Results

Three Months Ended June 30,Six Months Ended June 30,(in thousands)20252024$ Change20252024$ ChangeRevenues$18,972 $15,370 $3,602 $33,226 $30,540 $2,686 Adjusted EBITDA$515 $428 $87 $712 $(48)$760 

Three Months Ended June 30, 2025 and 2024

Revenues in the B&W Renewable segment increased 23%, or $3.6 million, to $19.0 million in the three months ended June 30, 2025 from $15.4 million in the three months ended June 30, 2024. This is primarily attributable to increased construction volume of $3.1 million.

Adjusted EBITDA in the B&W Renewable segment increased $0.1 million, to $0.5 million in the three months ended June 30, 2025 from $0.4 million in the three months ended June 30, 2024 driven by the increase in revenue as described above.

 Six Months Ended June 30, 2025 and 2024

Revenues in the B&W Renewable segment increased 9%, or $2.7 million, from $30.5 million to $33.2 million in the six months ended June 30, 2025 compared to the same period in 2024. This is primarily attributable to the increase in parts volume of $0.5 million and an increase in construction volume of $1.9 million.

48

Adjusted EBITDA in the B&W Renewable segment increased $0.8 million, to $0.7 million in the six months ended June 30, 2025 compared to $0.0 million in the six months ended June 30, 2024. This is primarily attributable the increase in parts volume.

B&W Environmental Segment Results

Three Months Ended June 30,Six Months Ended June 30,(in thousands)20252024$ Change20252024$ ChangeRevenues$20,799 $28,742 $(7,