Company Overview and Strategy - Babcock & Wilcox Enterprises (B&W) is a global energy leader providing innovative technologies since 1867, focusing on clean energy solutions and energy security[5] - B&W aims to convert a global pipeline of over $76 billion of identified project opportunities into bookings, including over $26 billion in BrightLoop and ClimateBright opportunities[20] - The company is implementing up to $30 million in cost reductions associated with strategic realignment[20] - B&W is evaluating alternatives for non-strategic assets and potential refinancing to reduce current and long-term debt[20] Market Position and Opportunities - B&W has a vast global installation base, including more than 300 operating utility and industrial boiler units in the U S and nearly 200 units across 40 countries[25] - The company has a total anticipated pipeline of more than $76 billion over the next three years, with over $12 billion in opportunities[28] - Data center power demand is expected to soar to 176 GW by 2035, up from 33 GW in 2024, presenting opportunities for B&W[40] Financial Performance - B&W's LTM revenue as of June 30, 2025, was approximately $6267 million[26] - For the three months ended June 30, 2025, revenue was $1441 million, with a gross margin of $433 million and operating income of $81 million[48] - As of July 31, 2025, total debt was $4122 million, with cash, cash equivalents, and restricted cash of $2174 million, resulting in net debt of $1948 million[49]