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

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 2
Chunk 10
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 September 30,(in thousands)2025202420252024Net income (loss)$35,092 $(5,332)$(45,407)$3,242 Income (loss) from discontinued operations, net of tax37,434 2,579 (23,008)46,804 Loss from continuing operations(2,342)(7,911)(22,399)(43,562)Interest expense, net8,144 9,898 29,401 33,571 Income tax expense1,028 (508)6,872 2,637 Depreciation & amortization2,877 2,812 7,329 8,791 EBITDA9,707 4,291 21,203 1,437     Impairment of long-lived assets— — 950 — Benefit plans, net783 (67)2,338 (203)Loss on asset disposals, net557 — 730 — Stock compensation746 938 2,267 3,637 Restructuring activities— 134 111 1,144 Settlements and related legal costs322 (61)858 3,235 (Gain) loss on debt extinguishment(1,730)665 (1,730)6,789 Foreign exchange466 (1,230)(396)(2,235)Financial advisory services1,588 2,535 6,755 2,884 Other - net210 757 776 2,034 Adjusted EBITDA$12,649 $7,962 $33,862 $18,722 

48

Three Months Ended September 30,Nine Months Ended September 30,(in thousands)2025202420252024Adjusted EBITDA    B&W Thermal$15,168 $13,382 $40,234 $31,876 B&W Renewable650 (343)1,362 (391)B&W Environmental2,836 583 6,900 2,873 Corporate(6,005)(5,660)(14,634)(15,636)$12,649 $7,962 $33,862 $18,722 

Corporate

Corporate costs in Adjusted EBITDA include SG&A expenses that are not allocated to the reportable segments. These costs include, among others, certain executive,