Babcock & Wilcox Enterprises Inc

Babcock & Wilcox Enterprises delivered a standout first quarter for fiscal 2026, with revenue climbing 44% year-over-year to $214.40 million as the company's transformation into a power generation partner for AI data centers accelerated sharply. The single biggest driver was more than $60.00 million in incremental large-project volume, anchored by the Base Electron AI data center power generation project, which helped push Adjusted EBITDA up 296% to $16.10 million, both metrics coming in ahead of company and consensus expectations. On a GAAP basis, the net loss widened to $79.60 million, though $81.80 million of that figure reflected non-cash charges tied to rising valuations on customer warrants and stock appreciation rights, the kind of <a href="https://247wallst.com/investing/2026/04/07/up-4400-yoy-is-babcock-and-wilcox-stock-a-hidden-gem-or-a-momentum-trap/">momentum-driven accounting complexity</a> that has shadowed the stock's rapid rise. Bookings exploded to $2.50 billion, up 1,971%, while backlog reached $2.70 billion. The company reiterated its full-year 2026 Adjusted EBITDA target of $80.00 million to $100.00 million, even as pending class-action lawsuits challenging disclosures related to the Base Electron contract loom as a key risk. EPS came in at negative $0.62.