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Babcock & Wilcox Enterprises (BW) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 10, 2026 · Babcock & Wilcox Enterprises (BW) Q2 2026 earnings results →
Q2 2026 Revenue up 130% year over year to $320M · 4¢ of every $1 of revenue kept as net profit · operating margin 3.7%
Babcock & Wilcox Enterprises made $320M in Q2 2026 (+130% Y/Y). Operating margin 3.7%, net earnings $14.3M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 10, 2026.
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What changed this quarter
Revenue was $319.7M in Q2 2026, up 130% year over year and up 49% from the previous quarter.
Operating profit was $11.8M, a 3.7% margin (down 1.4 points year over year). Of the extra revenue versus Q2 2025, 3% reached operating profit, below the 5% margin then. Total costs grew 134% against revenue growth of 130%. The fastest-growing cost line was Cost of revenue (+180%). Net earnings were $14.3M. The effective tax rate was -8.2%.
Operating cash flow was −$17.4M. Non-cash charges added back $2.5M of depreciation and amortization and $1.6M of share-based compensation. Working capital and other items used $35.8M. Capital expenditures of $6.6M exceeded it, leaving free cash flow of −$24.0M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 10, 2026 | $320M | +130% | 3.7% | $14.3M | −$17.4M |
| Q1 2026 | 10-Q | May 11, 2026 | $214M | +44% | -0.8% | −$76.9M | $17.8M |
| Q4 2025 | 10-K | Mar 16, 2026 | $139M | +2% | 4.2% | $9.2M | −$3.0M |
| Q3 2025 | 10-Q | Nov 10, 2025 | $149M | -2% | 4.4% | $35.1M | −$32.1M |
| Q2 2025 | 10-Q | Aug 11, 2025 | $139M | -8% | 5.9% | −$58.5M | −$25.3M |
| Q1 2025 | 10-Q | May 12, 2025 | $181M | +10% | 3.2% | −$22.0M | −$8.5M |
| Q4 2024 | 10-K | Mar 31, 2025 | $66.3M | — | -30.1% | −$63.0M | −$22.5M |
Charts
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Babcock & Wilcox Enterprises
We are a globally-focused energy technologies provider with nearly 160 years of experience providing diversified energy and emissions control solutions to a broad range of industrial, electrical utility, municipal and other customers. We support global energy needs and baseload power demand by providing advanced technologies that utilize coal, natural gas, hydrogen, waste and biomass to produce energy, environmental solutions and carbon capture systems. Our proven platforms help utilities, data centers, oil and gas, and other industries meet rising demand, while our comprehensive aftermarket services keep existing power plants operating efficiently. Our advanced environmental and decarbonization technologies help to reduce greenhouse gases and other emissions and capture carbon.
In its own words, from its 10-K, filed Mar 16, 2026.
Source: Babcock & Wilcox Enterprises 10-Q on SEC EDGAR · CIK 1630805 · Heating Equipment, Except Electric & Warm Air Furnaces
13F: who owns BW and who is buying
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History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results