• Reported GAAP EPS of -$0.05 up 91.80% YoY • Reported revenue of $161M up 142.92% YoY • Babcock & Wilcox expects to fully pay off remaining outstanding December 2026 bonds in 2026 and believes its robust global pipeline exceeding $12B underpins sustained growth into 2026.
Bullish
Babcock & Wilcox significantly grew backlog to $2.8B, including a $2.4B AI data center project. The company improved Q4 Adjusted EBITDA by 53% and reduced net debt, while expanding into AI data center power generation.
Bearish
Babcock & Wilcox faces macroeconomic headwinds, including inflation and supply chain disruptions, alongside risks that its growing pipeline may not convert to revenue as anticipated, and an obligation to refinance 2026 notes.