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SEGMENT REPORTING (Tables) | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | An analysis of our operations by segment is as follows:
| Three Months Ended March 31,
(in thousands) | 2025 |  | 2024
Revenues: |  |  |
B&W Renewable segment |  |  |
Parts | $ | 20,592 |  |  | $ | 18,367 |
Projects | 6,058 |  |  | 5,982 |
Construction | 1,891 |  |  | 3,109 |
| 28,541 |  |  | 27,458 |
B&W Environmental segment |  |  |
Parts | 7,010 |  |  | 7,157 |
Projects | 7,397 |  |  | 19,551 |
| 14,407 |  |  | 26,708 |
B&W Thermal segment |  |  |
Parts | 64,915 |  |  | 53,643 |
Projects | 32,116 |  |  | 22,794 |
Construction | 41,215 |  |  | 33,750 |
| 138,246 |  |  | 110,187 |
Elimination of intersegment revenues | — |  |  | (65) |
Total Revenue | $ | 181,194 |  |  | $ | 164,288 |
Schedule of Reconciliation from Net (Loss) Income to Adjusted EBITDA | The following tables provide information about our segments, as well as the "Corporate/Other Segment" category and include the reconciliation of Revenue to Adjusted EBITDA to Loss from continuing operations before income tax expense:
| Three Months Ended March 31, 2025
(in thousands) | B&W Renewable segment |  | B&W Environmental segment |  | B&W Thermal segment |  | Total
Revenue | $ | 28,541 |  |  | $ | 14,407 |  |  | $ | 138,246 |  |  | $ | 181,194 |
Cost of operations | 20,351 |  |  | 10,255 |  |  | 108,444 |  |  | 139,050 |
General & administrative expense (1) | 3,059 |  |  | 894 |  |  | 9,935 |  |  | 13,888 |
Selling & marketing expense (1) | 2,003 |  |  | 989 |  |  | 7,494 |  |  | 10,486 |
Segment Adjusted EBITDA | 3,128 |  |  | 2,269 |  |  | 12,373 |  |  | 17,770 |
Corporate/eliminations (2) |  |  |  |  |  |  | (3,461) |
Interest expense, net |  |  |  |  |  |  | (10,935) |
Depreciation & amortization |  |  |  |  |  |  | (2,476) |
Impairment of long-lived assets |  |  |  |  |  |  | (950) |
Benefit plans, net |  |  |  |  |  |  | (753) |
Loss on sales, net |  |  |  |  |  |  | (8) |
Settlement and related legal recoveries (costs) |  |  |  |  |  |  | (64) |
Advisory fees for settlement costs and liquidity planning |  |  |  |  |  |  | (492) |
Stock compensation |  |  |  |  |  |  | (763) |
Restructuring activities |  |  |  |  |  |  | (112) |
Acquisition pursuit and related costs |  |  |  |  |  |  | (1,356) |
Product development |  |  |  |  |  |  | (1,205) |
Foreign exchange |  |  |  |  |  |  | 261 |
Letter of credit fees |  |  |  |  |  |  | (1,200) |
Other-net |  |  |  |  |  |  | 303 |
Loss from continuing operations before income tax expense |  |  |  |  |  |  | $ | (5,441) |
| Three Months Ended March 31, 2024
(in thousands) | B&W Renewable segment |  | B&W Environmental segment |  | B&W Thermal segment |  | Total
Revenue | $ | 27,458 |  |  | $ | 26,708 |  |  | $ | 110,187 |  |  | $ | 164,353 |
Cost of operations | 19,898 |  |  | 20,879 |  |  | 82,696 |  |  | 123,473 |
General & administrative expense (1) | 2,466 |  |  | 2,682 |  |  | 6,895 |  |  | 12,043 |
Selling & marketing expense (1) | 2,452 |  |  | 2,120 |  |  | 7,147 |  |  | 11,719 |
Segment Adjusted EBITDA | 2,642 |  |  | 1,027 |  |  | 13,449 |  |  | 17,118 |
Corporate/eliminations (2) |  |  |  |  |  |  | (5,856) |
Interest expense, net |  |  |  |  |  |  | (11,896) |
Depreciation & amortization |  |  |  |  |  |  | (3,159) |
Benefit plans, net |  |  |  |  |  |  | 96 |
Settlement and related legal recoveries (costs) |  |  |  |  |  |  | 4,087 |
Advisory fees for settlement costs and liquidity planning |  |  |  |  |  |  | (214) |
Loss on debt extinguishment |  |  |  |  |  |  | (5,071) |
Stock compensation |  |  |  |  |  |  | (1,350) |
Restructuring activities |  |  |  |  |  |  | (907) |
Acquisition pursuit and related costs |  |  |  |  |  |  | (84) |
Product development |  |  |  |  |  |  | (1,619) |
Foreign exchange |  |  |  |  |  |  | (716) |
Letter of credit fees |  |  |  |  |  |  | (2,282) |
Other-net |  |  |  |  |  |  | (35) |
Loss from continuing operations before income tax expense |  |  |  |  |  |  | $ | (11,888) |
(1) General & administrative expense excludes corporate/eliminations of $4.0 million and $6.7 million for the three months ended March 31, 2025 and 2024, respectively. We had no selling & marketing expenses excluded from corporate/eliminations for the three months ended March 31, 2025 and 2024. (2) Other corporate expenses include certain R&D expenses and other costs not allocated to our segments.

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- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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