Babcock & Wilcox 2026年季度报告

FORM 10-Q (Mark One) ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period ended March31, 2026 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period fromto Commission File No.001-36876 BABCOCK & WILCOX ENTERPRISES, INC.(Exact name of registrant as specified in its charter) (Address of Principal Executive Offices)(Zip Code) Registrant's Telephone Number, Including Area Code:(330)753-4511 Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),and (2)has been subject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smallerreporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act. Largeacceleratedfiler☐Non-accelerated filer☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). The number of shares of the registrant's common stock outstanding at May6, 2026 was 136,212,501. TABLE OF CONTENTS Cautionary Statement Concerning Forward-Looking Information4PART I - FINANCIAL INFORMATIONItem 1.Condensed Consolidated Financial Statements5Condensed Consolidated Statements of Operations for the Three Months Ended March 31, 2026and 2025 (Unaudited)6Condensed Consolidated Statements of Comprehensive Loss for the Three Months Ended March31, 2026 and 2025 (Unaudited)7Condensed Consolidated Balance Sheets as of March 31, 2026 and December 31, 2025(Unaudited)8Condensed Consolidated Statements of Stockholders' Deficit for the Three Months Ended March31, 2026 and 2025 (Unaudited)9Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2026and 2025 (Unaudited)10Notes to Condensed Consolidated Financial Statements (Unaudited)12Item 2.Management's Discussion and Analysis of Financial Condition and Results of Operations32Business Overview32Results of Operations – Three Months Ended March 31, 2026 and 202533Liquidity and Capital Resources38Critical Accounting Policies and Estimates39Item 3.Quantitative and Qualitative Disclosures about Market Risk39Item 4.Controls and Procedures39PART II – OTHER INFORMATIONItem 1.Legal Proceedings40Item 1A.Risk Factors40Item 2.Unregistered Sales of Equity Securities and Use of Proceeds41Item 5.Other Information41Item 6.Exhibits42SIGNATURES43 Definitions In this Quarterly Report on Form 10-Q, or this "Quarterly Report", unless the context otherwise indicates, "B&W," "we," "us," "our" orthe "Company" mean Babcock & Wilcox Enterprises, Inc. and its consolidated subsidiaries. Unless otherwise noted, discussion of ourbusiness and results of operations in this Quarterly Report on Form 10-Q refers to our continuing operations. This Quarterly Report on Form 10-Q, including Management's Discussion and Analysis of Financial Condition and Results ofOperations, contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of theExchange Act. All statements other than statements of historical or current fact included in this Quarterly Report are forward-lookingstatements. You should not place undue reliance on these statements. Forward-looking statements may include words such as "expect,""intend," "plan," "likely," "seek," "believe," "project," "forecast," "target," "goal," "potential," "estimate," "may," "might," "will,""would," "should," "could," "can," "have," "due," "anticipate," "assume," "contemplate," "continue" and other words and terms ofsimilar meaning in connection with any discussion of the timing or nature of future operational performance or other events. The forward-looking statements included herein are made only as of the date hereof. We undertake no obligation to publicly update orrevise any forward-looking statement as a result of new information, future events, or otherwise, except as required by law. Theseforward-loo