Babcock & Wilcox reported significant third quarter 2026 revenue growth and a record-breaking backlog, primarily driven by surging demand for power infrastructure from utilities and data centers. While bottom-line results were bolstered by substantial non-cash warrant revaluations, the underlying operational performance showed a slight beat on adjusted profitability metrics.
Key Highlights
- Revenue jumped 109% year-over-year to $290.8 million, exceeding the $226.45 million consensus behind strong project volumes.
- Total backlog reached $2.5 billion, a 571% increase from the prior year, supported by a global pipeline now exceeding $16 billion.
- The company strengthened its balance sheet by redeeming $62 million in outstanding bonds, reaching its lowest debt levels in recent history.