Babcock & Wilcox Enterprises, Inc.
babcock.comWhat Do They Do?
Sells steam-generation systems, aftermarket parts and services, and environmental and carbon-capture technologies to utilities, data centers and industrial customers.
10-K for FY2025, filed Mar 16, 2026
How Do They Make Money?
Customers pay for steam-generating, environmental and auxiliary equipment and aftermarket services. Engineered projects and construction bring in money through milestone payments as work progresses; parts and some aftermarket services generate sales when goods are delivered or work is performed.
10-K for FY2025, filed Mar 16, 2026We generate the vast majority of our revenues from the supply of, and aftermarket services for, steam-generating, environmental and…View ↗
Contracts in progress, a current asset in the Consolidated Balance Sheets, includes revenues and related costs, plus accumulated contract…View ↗
Revenue from goods and services transferred to customers at a point in time, which includes certain aftermarket parts and services…View ↗
Revenue from products and services transferred to customers over time accounted for 97% of our revenue for the years ended December 31…View ↗
$587.7M
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10-K for FY2025, filed Mar 16, 2026
$587.7M ↗
Who Are Their Customers?
Utilities, municipalities and industrial operators buy steam-generation equipment, aftermarket parts and services, and environmental systems; contracts are usually awarded through competitive bids. B&W sometimes partners with other companies on customer projects.
10-K for FY2025, filed Mar 16, 2026We are a globally-focused energy technologies provider with nearly 160 years of experience providing diversified energy and emissions…View ↗
Our vast installed base of steam generation equipment includes aftermarket parts, construction, maintenance and field services. We have an…View ↗
We execute our contracts through a variety of methods, including fixed-price, cost-plus, target price cost incentive, cost-reimbursable or…View ↗
From time to time, we partner with other companies to meet the needs of our customers, which can result in project-related joint venture…View ↗
Do Revenues Turn Into Profits?
No. It lost $36.2M in FY2025.
10-K for FY2025, filed Mar 16, 2026
$20.7MView ↗
10-K for FY2025, filed Mar 16, 2026
−$36.2MView ↗
10-K for FY2025, filed Mar 16, 2026
−$85.7MView ↗
How Are They Changing?
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Aug 10, 2026
Raised 2026 adjusted EBITDA target range
Raised the full-year target to $80.0 million to $105.0 million.
Sources
8-K, filed Aug 10, 2026
–Company raises full year 2026 Adjusted EBITDA target range to $80.0 million to $105.0 million (AKRON, Ohio – August 10, 2026) – Babcock &…View ↗
Shrinking. Revenue fell 17% in 4 years, from $710.9M in FY2021 to $587.7M in FY2025, about 5% a year.
Exited solar operations
The older report included solar construction and installation among its renewable offerings. The latest report says B&W Solar ceased operations after the company stopped marketing it for sale.
10-K for FY2022, filed Mar 16, 2023 10-K for FY2025, filed Mar 16, 2026Babcock & Wilcox Renewable: Cost-effective technologies for efficient and environmentally sustainable power and heat generation, including…View ↗
During the fourth quarter of 2025, we discontinued marketing B&W Solar for sale due to lack of potential buyers and terminated our broker…View ↗
Who Do They Compete With?
Competes with Aker Carbon Capture, GE Vernova, Andritz, Kanadevia Inova, Babcock Power, Mitsubishi Power, CECO Environmental, Shell Global Cansolv, Doosan, Southern Environmental, Elessent Clean Technologies, Steinmüller Engineering, Enerfab, Valmet, and Fluor
10-K for FY2025, filed Mar 16, 2026Aker Carbon Capture ASAView ↗
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