Company: BWNB
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001630805-25-000019
Chunk: 22

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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ITEM 1. Condensed Consolidated Financial Statements

5

 BABCOCK & WILCOX ENTERPRISES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

Three Months Ended March 31,(in thousands, except per share amounts)20252024Revenues$181,194 $164,288 Costs and expenses:Cost of operations141,133 125,534 Selling, general and administrative expenses32,727 32,217 Research and development costs526 815 Impairment of long-lived assets950 — Loss on asset disposals, net 8 — Total costs and expenses175,344 158,566 Operating income5,850 5,722 Other (expense) income:Interest expense(11,163)(12,014)Interest income228 118 Loss on debt extinguishment— (5,071)Benefit plans, net(753)96 Foreign exchange261 (716)Other income (expense) – net136 (23)Total other expense(11,291)(17,610)Loss from continuing operations before income tax expense(5,441)(11,888)Income tax expense2,322 907 Loss from continuing operations(7,763)(12,795)Loss from discontinued operations, net of tax(14,226)(3,996)Net loss(21,989)(16,791)Net loss attributable to non-controlling interest(18)(42)Net loss attributable to stockholders(22,007)(16,833)Less: Dividend on Series A preferred stock3,715 3,714 Net loss attributable to stockholders of common stock$(25,722)$(20,547)Basic and diluted loss per shareContinuing operations$(0.11)$(0.19)Discontinued operations(0.15)(0.04)Basic and diluted loss per share$(0.26)$(0.23)Shares used in the computation of loss per share:Basic and diluted97,930 89,479 

See accompanying notes to the Condensed Consolidated Financial Statements. 

6

BABCOCK & WILCOX ENTERPRISES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

(Unaudited)

Three Months Ended March 31,(in thousands)20252024Net loss$(21,989)$(16,791)Other comprehensive income