Babcock & Wilcox Enterprises, Inc. · NYSE:BW
Babcock & Wilcox Enterprises — Q2 2025 Earnings Presentation
30 slides from Babcock & Wilcox Enterprises's earnings presentation, Aug 11, 2025
Slide 1: Company Overview
C O M PA N Y O V E R V I E W August 2025 BABCOCK & WILCOX ENTERPRISES, INC. 1 © 2025 Babcock & Wilcox Enterprises, Inc. All rights reserved.
Slide 2: Safe Harbor Statement
SAFE HARBOR STATEMENT Babcock & Wilcox Enterprises, Inc. (“B&W Enterprises” or “B&W”) cautions that this presentation contains forward-looking statements within the meaning of federal securities laws. All statements other than statements of historical or current fact included in this presentation ar
Slide 3: We're A Global Energy Leader
WE’RE A GLOBAL ENERGY LEADER CREATING A BRIGHTER FUTURE Providing high quality and innovative technologies since 1867 From our first patent for a more efficient boiler to more than 17,000 patents since, we continue to drive innovation and change Today, we are a globally recognized technology le
Slide 4: We're Helping Customers Create Clean And Reliable Energy
WE’RE HELPING CUSTOMERS CREATE CLEAN AND RELIABLE ENERGY CREATING RELIABLE AND EFFICIENT REDUCING THE IMPACT OF GREENHOUSE SUPPORTING A CIRCULAR ECONOMY STEAM GENERATION GAS EMISSIONS Providing ecologically sound ways of using and Providing boilers and related equipment, Providing hydrogen productio
Slide 5: The Foundation Of Our Company
THE FOUNDATION OF OUR COMPANY VISION: MISSION: CORE VALUES: Advancing energy and environmental B&W delivers environmentally conscious, technology- Safety • Integrity solutions that bring power and driven solutions and services to energy and industrial Quality • Respect • Agility progress to our worl
Slide 6: We're Strengthening Our Business To Achieve Profitable Growth
WE’RE STRENGTHENING OUR BUSINESS TO ACHIEVE PROFITABLE GROWTH Increase focus on large thermal growth projects and higher-margin aftermarket parts and services and continue to expand geographical presence in support of these markets Leverage our advanced thermal technologies to support fuel switc
Slide 7: We're Leveraging A Vast Installed Base And Proven Technologies
WE'RE LEVERAGING A VAST INSTALLED BASE AND PROVEN TECHNOLOGIES Ensuring energy security Driving decarbonization Supporting sustainable power More than 300 operating utility and Large worldwide installed base of More than 300+ renewable energy industrial boiler units in the U.S. and wet and dry
Slide 8: Babcock & Wilcox Profile
NORTH BABCOCK & WILCOX PROFILE AMERICA ASIA EUROPE ME/A OTHER Natural Gas Biomass/WtE Other Other 5% Pulp & 2% Headquarters: Akron, Ohio USA Employees: ~1,500 14% Other 3% Natural Gas Other Paper Other Coal 13% 3% 4% Founded: 1867 2% 1% LTM Revenue ~$626.7M 53% END MARKET Ownership: Public
Slide 9: Global Presence, Solid Pipeline
3-YEAR PIPELINE GLOBAL PRESENCE, SOLID PIPELINE B&W THERMAL Total Total anticipated pipeline of more than $7.6 billion over the next three years with over $12 billion in opportunities $1,327 $1.7B $ MILLIONS $165 $11 $151 Americas APAC Europe ME/A B&W ENVIRONMENTAL Total PIPELINE: 2025-2027 $1,382 $
Slide 10: Data Centers – Electric Power Demand
DATA CENTERS – ELECTRIC POWER DEMAND Electric demand forecast • Total data center power demand, including non-AI data centers, is anticipated to soar to 176 GW by 2035, up from 33 GW in 2024. AI alone is expected to reach 123 GW by 2035 compared to 4 GW in 2024.* Who are Data Center Hyperscalers
Slide 11: Leadership Team
LEADERSHIP TEAM Chairman and Chief Executive Officer Kenneth Young Executive Vice Executive Vice Executive Vice President, Chief Technology President and Chief President and Chief General Counsel and Officer Financial Officer Commercial Officer Corporate Secretary Brandy Johnson Cameron Frymyer Jimm
Slide 12: Corporate Governance
CORPORATE GOVERNANCE BOARD OF DIRECTORS Chairman and Chief Executive Officer Kenneth Young Henry Bartoli Rebecca Stahl Joseph Tato Alan Howe Philip Moeller Naomi Boness BABCOCK & WILCOX ENTERPRISES, INC. 12 © 2025 Babcock & Wilcox Enterprises, Inc. All rights reserved.
Slide 13: Financial Information
FINANCIAL INFORMATION BABCOCK & WILCOX ENTERPRISES, INC. 13 © 2025 Babcock & Wilcox Enterprises, Inc. All rights reserved.
Slide 14: Consolidated Financial Summary - Continuing Operations
CONSOLIDATED FINANCIAL SUMMARY - CONTINUING OPERATIONS Three Months Ended Trailing Twelve Months Ending June 30, 2025 June 30, 2025 ($ in millions) Revenue $ 144.1 $ 626.7 Gross margin $ 43.3 $ 151.5 Selling, general and administrative expenses $ 34.0 $ 125.2 Operating income $ 8.1 $ 16.8 Note: Figu
Slide 15: Capital Structure – Pro Forma
CAPITAL STRUCTURE – PRO FORMA ($ in millions) July 31, 2025 CAPITALIZATION: Total Debt1 $ 412.2 Senior Notes $ 339.9 Revolving Credit Line** $ 0.0 Letter of Credit Collateral* $ 72.3 Cash, cash equivalents and restricted cash** $ 217.4 Net Debt $ 194.8 Note: Figures may not be clerically accurate du
Slide 16: Key Technologies And Capabilities
KEY TECHNOLOGIES AND CAPABILITIES BABCOCK & WILCOX ENTERPRISES, INC. 16 © 2025 Babcock & Wilcox Enterprises, Inc. All rights reserved.
Slide 17: Key Technologies: Steam Generation
KEY TECHNOLOGIES: STEAM GENERATION Utility Boilers Renewable Energy Boilers High pressure, high efficiency, high capacity, Reduces dependency on landfills and reduces low emissions methane gas emissions Fuel: Coal, oil, natural gas, multi-fuel Fuel: Municipal solid waste, refuse derived fuel Natural
Slide 18: Ignitors, Flame Scanners And Controls
KEY TECHNOLOGIES: IGNITORS, FLAME SCANNERS AND CONTROLS Designed for safety, reliability and fuel flexibility Natural gas conversions from oil- or coal-firing Alternative energy fuels such as hydrogen, biodiesel, methanol and biogas Burner management and controls for complete turnkey system ca
Slide 19: Boiler Cleaning Equipment, Sootblowers, Systems And Replacement Parts
KEY T ECHNO LO G IES: BOILER CLEANING EQUIPMENT, SOOTBLOWERS, SYSTEMS AND REPLACEMENT PARTS Reliability, versatility, maximum cleaning performance and low maintenance, backed by experience Boiler cleaning Replacement parts and upgrades Cameras and monitoring Port rodders and dampers Titani
Slide 20: Submerged Grind Conveyor Ash Handling
KEY TECHNOLOGIES: SUBMERGED GRIND CONVEYOR ASH HANDLING Designed to meet current and future U.S. regulatory requirements for ash handling with: Lower equipment cost Lower installation cost Ability to utilize existing hoppers and gate valves No hopper modifications Short outage time Short
Slide 21: Emissions Control
KEY T ECHNO LO G IES: EMISSIONS CONTROL Pre-Treatment for Post- Particulate Control SO2 / Acid Gas Control Combustion Carbon Capture Pulse Jet Fabric Filters / Baghouses Wet or Seawater Flue Gas Desulfurization Systems Wet and Dry Scrubbers, Sorbent Injection, Wet and Dry Electrostatic Preci
Slide 22: Flue Gas Treatment For Carbon Capture
KEY T ECHNO LO G IES: FLUE GAS TREATMENT FOR CARBON CAPTURE To optimize carbon capture on solvent-based scrubbing technologies, reductions in various pollutants found in the incoming flue gas are required Our solutions include technologies for acid gases, particulate and acid mist, NOx and mercu
Slide 23: Aftermarket Services
KEY CAPABILIT IES: AFTERMARKET SERVICES Maintaining/improving plant operation: UPGRADES & RETROFITS Projects for extending the life of power, process and environmental equipment Supplying components for system reliability: REPLACEMENT PARTS High-quality standard or custom-engineered pressure and non
Slide 24: B&W's Emerging Technologies
B&W’S EMERGING TECHNOLOGIES BABCOCK & WILCOX ENTERPRISES, INC. 24 © 2025 Babcock & Wilcox Enterprises, Inc. All rights reserved.
Slide 25: BrightLoop Hydrogen Production
BRIGHTLOOP HYDROGEN PRODUCTION PROCESS INPUT OPTIONS OUTPUT OPTIONS SIGNIFICANT ADVANTAGES: Hydrogen from solid fuels – can utilize a variety of solid or gaseous fuels as feedstock High rate of carbon captured – inherent CO2 isolation supports sequestration or utilization without the expensive p
Slide 26: BrightLoop Hydrogen Production Progress
BRIGHTLOOP HYDROGEN PRODUCTION PROGRESS BRIGHTLOOP EVOLUTION 1994-2004 2008 2014 2017 2026 2028 2029 Laboratory Scale Sub-Pilot with Steam & Hydrogen Coal Direct SMALL SCALE MEDIUM SCALE LARGE SCALE The Ohio State University Chemical Looping and B&W National Carbon Capture 1-5 Tonnes Per Day 10-50 T
Slide 27: Leveraging Decades Of Funding Awards And Investments
LEVERAGING DECADES OF FUNDING AWARDS AND INVESTMENTS CONTINUE TO SCALE THIS INDUSTRY – CHANGING TECHNOLOGY COAL DIRECT CHEMICAL LOOPING (CDCL) NATIONAL CARBON CAPTURE CENTER (NCCC) 2,000 50 OPERATING HOURS STARTUP / SHUTDOWNS 1,000 20 OPERATING HOURS STARTUP / SHUTDOWNS 2009 CL 2010 NCCC 2010 NCCC 2
Slide 28: Global Leader In Clean Power Production Technologies
GLOBAL LEADER IN CLEAN POWER PRODUCTION TECHNOLOGIES BrightLoop BrightGen OxyBright SolveBright HYDROGEN PRODUCTION HYDROGEN COMBUSTION OXYGEN-FUEL COMBUSTION POST-COMBUSTION CARBON CAPTURE O U R C L I M AT E B R I G H T S U I T E Emerging technologies: Long Duration Energy Storage, Multiple tec
Slide 29: Bioenergy With Carbon Capture And Sequestration (BECCS)
BIOENERGY WITH CARBON CAPTURE AND SEQUESTRATION (BECCS) B&W’s biomass boilers paired with either OxyBright or SolveBright produce carbon-negative energy with a -2,500gCO2e/kWh carbon intensity OxyBright with B&W’s renewable energy solution could produce carbon-negative energy with a -1,000 gCO2e/kWh
Slide 30: Babcock & Wilcox Enterprises, Inc.
BABCOCK & WILCOX ENTERPRISES, INC. 30 © 2025 Babcock & Wilcox Enterprises, Inc. All rights reserved.
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