Filing Flows › Babcock & Wilcox Enterprises (BW) › Q3 2025
Babcock & Wilcox Enterprises (BW) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 10, 2025
Babcock & Wilcox Enterprises (BW) reported revenue of $149M for the third quarter 2025 (Q3 2025), -2% from a year earlier and +7% from the quarter before. Operating margin was 4.4%, net earnings $35.1M (23.5% of revenue).
Babcock & Wilcox Enterprises, Q3 2025: revenue $149M (-2% year over year), operating margin 4.4%, net earnings $35.1M, operating cash flow −$32.1M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $149M | +7% | -2% |
| Operating profit | $6.5M | -20% | +315% |
| Net earnings | $35.1M | — | — |
| Operating cash flow | −$32.1M | — | — |
What changed
Revenue was $149.0M in Q3 2025, down 2% year over year and up 7% from the previous quarter.
Operating profit was $6.5M, a 4.4% margin (up 3.3 points year over year). Total costs fell 6% while revenue fell 2%. Net earnings were $35.1M. The effective tax rate was 2.8%. Non-operating items added $29.6M, 82% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$32.1M. Non-cash charges added back $2.9M of depreciation and amortization. Working capital and other items used $70.2M. Capital expenditures of $5.5M exceeded it, leaving free cash flow of −$37.6M.
Questions
What was Babcock & Wilcox Enterprises' revenue in the third quarter 2025?
Babcock & Wilcox Enterprises (BW) reported revenue of $149M for the third quarter 2025 (Q3 2025), -2% from a year earlier and +7% from the quarter before.
Was Babcock & Wilcox Enterprises profitable in the third quarter 2025?
Operating profit was $6.5M (4.4% of revenue) and net earnings $35.1M.