Babcock & Wilcox delivered a significant top-and-bottom-line beat for the second quarter of 2026, driven by the rapid execution of its massive AI data center power project. Revenue surged 130% year-over-year as the company effectively capitalized on the growing demand for baseload generation and behind-the-meter infrastructure. Following the strong performance and a 533% increase in backlog, management raised the upper end of its full-year 2026 Adjusted EBITDA guidance.
Key Highlights
- Revenue of $319.7 million significantly outperformed the $199.1 million consensus estimate, led by a $100.7 million contribution from the Base Electron project.
- Total backlog reached $2.6 billion at quarter-end, a more than six-fold increase from the prior year, supported by a global project pipeline exceeding $14 billion.
- Adjusted EBITDA grew 57% to $21.8 million, prompting management to raise the full-year 2026 target range to $80 million–$105 million.
- The company swung to a GAAP net income of $14.3 million, or $0.07 per share, compared to a net loss of $58.5 million in the same period last year.