Babcock & Wilcox Enterprises' stock soared 7.29% in pre-market trading following the release of its first-quarter 2026 financial results, which significantly exceeded analyst expectations.

The company reported Q1 2026 revenue of $214.4 million, a 44% increase year-over-year that beat the $149.7 million estimate. Adjusted earnings per share came in at $0.02, surpassing the $(0.03) estimate. Despite a widening loss from continuing operations due to a non-cash charge, the company's operating loss narrowed and interest expense fell significantly.

Babcock & Wilcox also reiterated its full-year 2026 adjusted EBITDA target range of $80 million to $100 million. The company reported a substantial increase in total bookings to $2.51 billion from $121.3 million a year earlier, lifting backlog to $2.73 billion from $467.9 million, with $570.3 million of backlog expected to convert to revenue in 2026.