Company: BWNB
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001630805-25-000062
Chunk: 12

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 2
Chunk 12
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 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 June 30,Six Months Ended June 30,(in thousands)20252024$ Change20252024$ ChangeRevenues:B&W Thermal segmentParts$49,620 $35,868 $13,752 $99,565 $74,950 $24,615 Projects21,175 31,863 (10,688)53,291 54,680 (1,389)Construction33,490 39,571 (6,081)74,704 73,296 1,408 104,285 107,302 (3,017)227,560 202,926 24,634 B&W Renewable segmentParts$4,851 $4,534 $317 $11,155 $10,613 $542 Projects5,699 5,482 217 11,757 11,464 293 Construction8,422 5,354 3,068 10,314 8,463 1,851 18,972 15,370 3,602 33,226 30,540 2,686 B&W Environmental segmentParts10,309 8,939 1,370 21,189 19,531 1,658 Projects10,490 19,803 (9,313)17,887 39,356 (21,469)20,799 28,742 (7,943)39,076 58,887 (19,811)Eliminations of intersegment revenues(2)— (2)(2)(65)63 Total Revenue$144,054 $151,414 $(7,360)$299,860 $292,288 $7