B&W Q3 operating income +315% to $6.5M; signs $1.5B AI data center LNTP with Applied Digital

Babcock & Wilcox Enterprises, Inc.

2025-Q3 EPS reported -$0.57 revenue$448,871,000

Q3 operating income $6.5M (+315% YoY); Adj EBITDA $12.6M (+59% YoY); revenue $149M vs $152.6M.
Signed $1.5B LNTP with Applied Digital for 1GW natural gas AI data center; full release expected Q1 2026.
Paid down $70M of Feb 2026 bonds; redeeming all $26M 8.125% Senior Notes on Dec 5, 2025.
FY2026 Adj EBITDA target $70-85M from core business (~80% growth); pipeline exceeds $10B.
Completed sale of Allen-Sherman-Hoff for $29M to ANDRITZ; issued 500k shares and warrant to Applied Digital for $2.057M.

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Key facts

Extracted from this filing and checked against the source text.

Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.9

Babcock & Wilcox Enterprises, Inc. issued 500,000 shares of common stock of common stock to Applied Digital Corporate for purchase price of $2,057,000.

Security: common stock
Shares: 500,000 shares of common stock
Purchaser: Applied Digital Corporate
Consideration: purchase price of $2,057,000

Exact text from the filing

the Company issued to Applied Digital Corporate (“Applied Digital”), in a private placement, (i) 500,000 shares of common stock, par value $0.01 per share (the “Common Stock”) for a purchase price of $2,057,000

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Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.9

Babcock & Wilcox Enterprises, Inc. issued exercisable to purchase 2,600,000 shares of Common Stock of warrant to Applied Digital Corporate for exercise price of $4.11.

Security: warrant
Shares: exercisable to purchase 2,600,000 shares of Common Stock
Purchaser: Applied Digital Corporate
Consideration: exercise price of $4.11

Exact text from the filing

(ii) a warrant (the “Initial Warrant”) exercisable to purchase 2,600,000 shares of Common Stock (the “Initial Warrant Shares”) at an exercise price of $4.11

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Babcock & Wilcox Enterprises, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-25-106447

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