Significant Increase in Adjusted EBITDA and Operating Income
Adjusted EBITDA was 58% higher compared to the third quarter of 2024, while operating income increased by 315% from the same period in 2024.
Record Backlog Growth
Backlog rose 56% quarter-over-quarter to over $393 million, driven by increased demand for power generation projects.
Successful Debt Reduction Strategy
Through asset dispositions and equity raises, B&W has significantly reduced its debt, including plans to pay down February 2026 notes by the end of 2025.
Major AI Data Center Project
Signed a limited notice to proceed with Applied Digital for a $1.5 billion AI data center project, expected to add $3 billion to $5 billion in pipeline opportunities.
Positive Outlook for 2026
Projected 2026 adjusted EBITDA of $70 million to $85 million, representing 80% growth year-over-year from 2025.