Babcock & Wilcox Enterprises (BW) Company presentation summary

Company overview and market positioning

• Global leader in energy and environmental technologies with a 160-year history and over 5,000 active patents.

• Operates more than 300 utility and industrial boiler units in the U.S. and nearly 200 internationally, plus over 300 renewable energy units worldwide.

• Delivers high-efficiency, low-emissions coal and natural gas solutions, and is a top provider of parts and services for North American coal-fired boilers.

• Positioned to capitalize on rising demand from AI data centers, with a robust $14B global pipeline and strategic partnerships for plant conversions.

Financial performance and capital structure

• Trailing twelve months revenue as of June 30, 2026, was $834.3M, with North America accounting for 91.4% of revenue.

• Adjusted EBITDA for the trailing twelve months was $63.8M, with adjusted net income of $2.3M.

• Total debt stood at $239.8M, offset by $382.8M in cash, resulting in cash exceeding debt by approximately $143M.

Growth drivers and strategic initiatives

• Meeting surging power demand from AI factories and data centers, with data center demand projected to reach 176 GW by 2035.

• Executing a $2.4B, 1.2 GW project for Base Electron in North Dakota, with future expansion potential.

• Offering modular, scalable, carbon-capture-ready steam power solutions for always-on AI workloads.

• Addressable global utility and industrial markets estimated at $190B for 2026-2028.