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Babcock & Wilcox stock reports Q3 growth and sets 2027 target

Published on 11/10/2026 at 22:26 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Babcock & Wilcox stock reported a sharp third-quarter revenue increase and issued a 2027 adjusted EBITDA target. Bookings and backlog also expanded.

Q3 Growth and New Targets

Babcock & Wilcox reported sharply higher third-quarter revenue, bookings and backlog for 2026.
Management reaffirmed its 2026 adjusted EBITDA target and issued a 2027 target range.
Warrant revaluation materially influenced reported net income, while adjusted net income was lower.

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Babcock & Wilcox Enterprises reported stronger operating figures for the third quarter ended September 30, 2026, while warrant revaluation lifted reported earnings. The company released the results on Monday, November 9, according to its official results release.

Revenue reached USD 290.8 million, compared with USD 139.2 million in the year-earlier quarter. The company attributed the increase primarily to higher large-project volume, including USD 77.8 million from the Base Electron project. Operating income rose to USD 13.8 million from USD 3.4 million.

Bookings Support Longer-Term Growth

Third-quarter bookings climbed to USD 228 million, up 112 percent from the same period of 2025, while backlog reached USD 2.5 billion, a 571 percent increase. Babcock & Wilcox said its global pipeline exceeded USD 16 billion, including 6 gigawatts of incremental power opportunities for utility, industrial and data center customers.

Adjusted EBITDA, a non-GAAP measure, increased to USD 17.7 million from USD 9.4 million. The company reiterated its full-year 2026 adjusted EBITDA target range of USD 80 million to USD 105 million and issued a 2027 target range of USD 125 million to USD 140 million. The 2027 range is a company target rather than performance guidance.

Reported Profit Includes Warrant Effect

Net income was USD 93.9 million, compared with USD 35.1 million a year earlier. The result included an USD 85.1 million gain from a change in the fair value of customer warrants; adjusted net income, which excludes non-cash warrant and other stock-related effects, was USD 4.8 million.

The company also said it repurchased USD 38 million of shares during the quarter and completed the redemption of USD 61.8 million of outstanding 6.5 percent bonds due in December 2026. Cash, cash equivalents and restricted cash totaled USD 128.9 million at September 30, while net cash used in operating activities for the first nine months was USD 130.3 million.

Babcock & Wilcox stock traded at 4.05 euros on Lang & Schwarz at 10:24:46 p.m. CET on Tuesday, November 10, 2026.