Babcock & Wilcox Enterprises, Inc. Q2 FY2026 Earnings Call

· Earnings call transcript and AI-powered summary

Babcock & Wilcox Enterprises Q2 2026 Earnings Summary

Key Financial Highlights (Comparisons to Prior Year Periods)

  • Revenue: Q2 2026 revenue reached $319.7 million, a 130% increase versus Q2 2025. First-half 2026 revenue totaled $534.1 million, up significantly from $287.5 million in the first half of 2025, driven by large project volume including $131.7 million from the Base Electron project and rising demand for fossil fuel-based electricity from AI/data centers.
  • Net Income: Q2 2026 net income was $14.3 million, an increase of $72.8 million compared to Q2 2025. First-half 2026 reported a net loss of $62.7 million (versus $80.5 million loss in H1 2025), primarily due to $77.4 million in noncash warrants and stock-related costs; adjusted net income for H1 2026 was $14.7 million.
  • Adjusted EBITDA: Q2 2026 adjusted EBITDA was $21.8 million, up $7.9 million from Q2 2025. First-half 2026 adjusted EBITDA rose to $37.8 million from $17.9 million in H1 2025.
  • Bookings & Backlog: First-half 2026 bookings surged to $2.7 billion (+1,058% vs. H1 2025). Q2 2026 backlog reached $2.6 billion (+533% vs. Q2 2025).

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Operator: Good afternoon. Thank you for attending the Babcock & Wilcox Enterprises Second Quarter 2026 Conference Call. [Operator Instructions] I would now like to turn the conference over to your host, Sharyn Brooks, B&W's Director of Communications. Thank you. You may proceed, Ms. Brooks. Sharyn Brooks: Thank you, Crystaline, and thanks to everyone for joining us on Babcock & Wilcox Enterprises Second Quarter 2026 Earnings Conference Call. I'm Sharyn Brooks, Director of Communications. Joining the call today are Kenny Young, B&W's Chairman and Chief Executive Officer, and Cameron Frymyer, Chief Financial Officer, to discuss our second quarter results. During this call, certain statements we make will be forward-looking. These statements are subject to risks and uncertainties, including those set forth in our safe harbor provision for forward-looking statements that can be found at the end of our earnings press release and in our quarterly report on Form 10-Q that was filed with the SEC earlier today. Additionally, except as required by law, we undertake no obligation to update any forward-looking statement. We -- we also provide non-GAAP information regarding certain historical and targeted results to supplement the results provided in accordance with GAAP. This information, which includes a discussion of adjusted EBITDA and adjusted net income, should not be considered superior to or a substitute for the comparable GAAP measures. A reconciliation of historical non-GAAP mea

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