Babcock & Wilcox Q2 Revenue Surges 130% to $319.7M, Raises 2026 EBITDA Guidance to $105M
BW has more than doubled off its 52-week low of $1.171.
Summary
Babcock & Wilcox reported Q2 2026 revenue of $319.7M (up 130% YoY), swung to a $14.3M profit, and raised full-year EBITDA guidance to $80M-$105M. Backlog hit $2.6B, and the company announced a $50M buyback and bond retirement.
Updates
· Reuters — Stock closed at $9.37 on August 7, below the $25 analyst median target.
Key Events · Earnings and Guidance · BW
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Q2 Revenue More Than Doubles
Revenue of $319.7M, a 130% increase YoY, driven by $100.7M from the Base Electron AI data center project. Net income swung to $14.3M from a $58.5M loss, with EPS of $0.07 vs. -$0.63.
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Full-Year EBITDA Guidance Raised
Adjusted EBITDA target raised to $80M-$105M, up from prior range, reflecting strong momentum and confidence in the pipeline. Q2 Adjusted EBITDA was $21.8M, a 57% increase YoY.
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Backlog Explodes to $2.6B
Backlog surged 533% YoY to $2.6B, anchored by the $2.4B Base Electron project. Bookings rose 38% to $151M, and the global pipeline exceeds $14B.
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Additional 1 GW Turbine Order Secured
Secured an additional 1 GW of steam turbines from Siemens Energy for fast delivery, anticipating the next data center project. Base Electron project is ahead of schedule and on budget.
Analysis · BW · Manufacturing
A blowout quarter saw revenue more than double year-over-year to $319.7 million, swinging to a net profit of $14.3 million from a $58.5 million loss. Confidence in the AI data center pipeline prompted management to raise the full-year Adjusted EBITDA target to as high as $105 million. Backlog ballooned to $2.6 billion, driven by the $2.4 billion Base Electron project, and an additional 1 GW of steam turbines was secured for future deals. A new $50 million buyback and the retirement of remaining 2026 bonds underscore a dramatically improved balance sheet, with cash now exceeding debt by $143 million. The results validate the AI power generation thesis and position B&W for sustained growth.
How filings like this one have moved
In the 30 days to Oct 5, 2026, 36.9% of the 964 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.65%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, BW was trading at $10.70 on NYSE in the Manufacturing sector, with a market capitalization of approximately $1.3B. The 52-week trading range was $1.17 to $22.03. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.