---
schema_version: "secwatch.filing_event.v1"
accession: "0001630805-25-000021"
form_type: "8-K"
ticker: "BW"
cik: "0001630805"
company_name: "Babcock & Wilcox Enterprises, Inc."
filed_at: "2025-05-12T23:59:59+00:00"
generated_at: "2026-05-21T23:44:54.557651+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# B&W Q1 revenue $181.2M (+10% YoY), Adj EBITDA $14.3M; bond exchange reduces debt but going concern noted

## Summary
- Revenue $181.2M (+10% YoY), net loss $7.8M improved from $12.8M, EPS loss $0.11 vs $0.19.
- Adjusted EBITDA $14.3M, up 27% from $11.3M; record Global Parts & Service Q1 bookings revenue and EBITDA.
- Bond exchange: $131.8M bonds replaced with $100.8M new 5-year bonds due 2030, reducing annual interest by $1.1M.
- Backlog $526.8M (+47% YoY); bookings $167.0M (+11%).
- Cash $116.8M, total debt $473.6M; $108.4M notes due Feb 2026 current; going concern doubt noted.

## SEC filing metadata
- accession: 0001630805-25-000021
- form_type: 8-K
- ticker: BW
- cik: 0001630805
- company_name: Babcock & Wilcox Enterprises, Inc.
- filed_at: 2025-05-12T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1630805/000163080525000021/0001630805-25-000021-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1630805/000163080525000021/bw-20250512.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001630805-25-000021
- JSON: https://secwatch.observer/filing/0001630805-25-000021.json
- Plain text: https://secwatch.observer/filing/0001630805-25-000021.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.