Company: BWNB
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001630805-25-000019
Chunk: 86

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 86
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.There is no assurance that we will successfully obtain the financing necessary to satisfy our current obligations when they come due. In addition, we may take one or more of the following actions to obtain the required funding for future operations:•Suspension of dividends on our Preferred Stock; and•Selling additional common shares.Management believes we are taking all prudent actions to address our liquidity concerns; however, these plans have not been finalized and are subject to market conditions that are not within our control. Therefore, we have determined that there is substantial doubt about our ability to continue as a going concern for the 12 months following the issuance of these financial statements.The Condensed Consolidated Financial Statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of this uncertainty. The accompanying Condensed Consolidated Financial Statements have been prepared in accordance with GAAP applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business.

OperationsOur operations are assessed based on three reportable segments as described in Note 4.For financial information about our segments, see Note 4 to the Condensed Consolidated Financial Statements.

NOTE 2 – LOSS PER SHARE

The following table sets forth the computation of basic and diluted loss per share of our common stock, net of non-controlling interest and dividends on preferred stock:Three Months Ended March 31,(in thousands, except per share amounts)20252024Net loss from continuing operations$(7,763)$(12,795)Net loss attributable to non-controlling interest(18)(42)Less: Dividend on Series A preferred stock3,715 3,714 Loss from continuing operations attributable to stockholders of common stock(11,496)(16,551)Loss from discontinued operations, net of tax(14,226)(3,996)Net loss attributable to stockholders of common stock$(25,722)$(20,547)Weighted average shares used to calculate basic and diluted loss per share97,930 89,479 Basic and diluted loss per share:Continuing operations$(0.11)$(0.19)Discontinued operations(0.15)(0.04)Basic and diluted loss per share$(0.26)$(0.23)Basic and diluted weighted average shares are the same because we incurred a net loss in the three months ended March 31, 2025 and 2024.

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