BW-PA Q3 FY26 earnings call: key takeaways

• B&W reported strong third quarter 2026 results with bookings of $228 million and a 112% increase compared to the third quarter of 2025. The company reaffirmed its full year 2026 adjusted EBITDA target range of $80 to $105 million and provided a full year 2027 adjusted EBITDA target range of $125 million to $140 million. (2:02)

What changed since last quarter

• The company raised its full year 2027 adjusted EBITDA target range to $125 million to $140 million, up from previous guidance. (2:02)
• B&W anticipates significant bookings in the fourth quarter of 2026 and in the first quarter of 2027. (2:02)
• The company highlighted strong demand for parts and services, with a record booking quarter in Q3 2026. (16:12)

What analysts pressed on

• Whether the labor shortage will impact future project timelines and costs. (23:58)
• How much of the 2027 EBITDA guidance is supported by backlog versus new bookings. (29:13)
• The potential impact of tariffs on gross margins in the coming year. (29:13)

In their words

• We are seeing strong interest from key customers that require utility grade power technology to help. (3:59)
• We believe these trends position B&W well to capitalize on a broad range of opportunities. Kenny (12:20)
• There's a lot of market sentiment out there about data centers and other aspects, but, you know, twofold for us... (20:02)