Company: BWNB
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001630805-25-000090
Chunk: 49

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 49
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 $444,985 Cost of operations230,700 30,560 71,985 333,245 General & administrative expense (1)30,773 6,367 10,940 48,080 Selling & marketing expense (1)18,953 3,530 6,819 29,302 Segment Adjusted EBITDA31,876 (391)2,873 34,358 Corporate/eliminations (2)(15,636)Interest expense, net(33,571)Depreciation & amortization(8,791)Benefit plans, net203 Settlement and related legal costs(3,235)Financial advisory services(2,884)Loss on debt extinguishment(6,789)Stock compensation(3,637)Restructuring activities(1,144)Foreign exchange2,235 Other-net(2,034)Loss from continuing operations before income tax expense$(40,925)(1) General & administrative expense excludes corporate/eliminations of $6.9 million and $6.1 million for the three months ended September 30, 2025 and 2024, respectively, and $16.8 million and $17.5 million for the nine months ended September 30, 2025 and 2024, respectively. We had no selling & marketing expenses excluded from corporate/eliminations for the three and nine months ended September 30, 2025 and 2024.(2) Other corporate expenses include certain R&D expenses and other costs not allocated to our segments.

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NOTE 6 – REVENUE RECOGNITION AND CONTRACTS 

Revenue RecognitionWe generate the vast majority of our revenues from the supply of, and aftermarket services for, steam-generating environmental and auxiliary equipment. A performance obligation is a contractual promise to transfer a distinct product or service to the customer. A contract's transaction price is allocated to each distinct performance obligation and is recognized as revenue when (point in time) or as (over time) the performance obligation is satisfied.Revenue from products and services transferred to customers at a point in time, which includes certain aftermarket parts and services, accounted for 7% and 7% of revenue for the three months ended September 30, 2025 and 2024, and 6% and 8% of revenue for the nine months ended September 30, 2025 and 2024, respectively. Revenue from products and services transferred to customers over