Company: BWNB
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001630805-25-000090
Chunk: 85

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 85
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 other exit costs associated with our extinguishment of the Debt Facilities.

Foreign exchange

We translate assets and liabilities of our foreign operations into U.S. dollars at current exchange rates, and we translate items in our Condensed Consolidated Statement of Operations at average exchange rates for the periods presented. We record adjustments resulting from the translation of foreign currency amounts as a component of Accumulated Other Comprehensive Loss. We report foreign currency transaction gains (losses) in income in the Condensed Consolidated Statements of Operations. Management excludes these expenses from Adjusted EBITDA as they do not reflect the ordinary course of business and are inherently unpredictable in timing and amount.

Foreign exchange gains and losses are primarily related to unhedged intercompany loans denominated in European currencies to fund foreign operations.

Financial advisory services

Financial advisory services relate to business planning and other professional services.

RESULTS BY SEGMENT

Three Months Ended September 30,Nine Months Ended September 30,(in thousands)20252024$ Change20252024$ ChangeRevenues:      B&W Thermal segment      Parts$55,660 $52,938 $2,722 $155,225 $127,888 $27,337 Projects37,648 26,276 11,372 90,939 80,956 9,983 Construction24,963 30,162 (5,199)99,667 103,458 (3,791)118,271 109,376 8,895 345,831 312,302 33,529 B&W Renewable segment      Parts4,876 3,275 1,601 16,031 13,888 2,143 Projects4,520 2,938 1,582 16,277 14,402 1,875 Construction5,797 3,313 2,484 16,111 11,776 4,335 15,193 9,526 5,667 48,419 40,066 8,353 B&W Environmental segment      Parts7,909 5,458 2,451 29,098 24,989 4,109 Projects7,638 28,272 (20,634)25,525 67,628 (42,103)15,547 33,730 (18,183)54,623 92,617 (37,994