Babcock & Wilcox (BW) Reports Q1 2026 Revenue of $214.4M, Up 44% YoY

Babcock & Wilcox Enterprises Inc. (NYSE:BW) is one of the best performing NYSE stocks so far in 2026. On May 11, Babcock & Wilcox Enterprises reported revenue of $214.4 million for Q1 2026, a 44% increase compared to the same period in 2025. This growth beat consensus street expectations, driven by a rise in large project volume of over $60 million. The company recorded a GAAP net loss from continuing operations of $79.6 million, down from a loss of $15.6 million in the prior-year period.

Excluding these non-cash stock costs, adjusted net income from continuing operations reached $2.2 million. Adjusted EBITDA surged 296% year-over-year to $16.1 million, also coming in ahead of consensus expectations. Operational momentum grew significantly, with first-quarter bookings climbing 1,971% to $2.5 billion.

Total backlog reached $2.7 billion, a 483% increase compared to Q1 2025. The company’s global project pipeline expanded 17% to more than $14.0 billion. Babcock & Wilcox Enterprises optimized its balance sheet, cutting secured debt and unsecured bonds to bring net debt down to $42.4 million at quarter-end. This reflects a net debt leverage ratio below 1.0 times trailing-twelve-month adjusted EBITDA.

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Management highlighted accelerating demand from new AI data center and hyperscaler customers using Babcock & Wilcox Enterprises Inc.’s (NYSE:BW) power generation solutions. This includes favorable progress on its natural gas-fired boiler and turbine project with Base Electron to deliver high-capacity energy generation. For the full year 2026, the company reaffirmed its core business adjusted EBITDA target range of $80 to $100 million.

Babcock & Wilcox Enterprises Inc. (NYSE:BW) and its subsidiaries provide energy and emissions control solutions to industrial, electrical utility, municipal, and other customers in the US, Canada, the UK, Indonesia, and the Philippines.

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