New York, May 16, 2026, 12:02 EDT
Babcock & Wilcox Enterprises is set for Monday trading with a stronger balance sheet and a jumpy share price, but buyers now face about 10.8 million new shares coming at $18.50 each. The stock closed Friday at $21.85, up 2.97% for the day and about 50% higher than the previous Friday after the company priced its $200 million common stock offering below the market.
NYSE is closed over the weekend. Regular trading hours are Monday to Friday, 9:30 a.m. to 4 p.m. New York time. The next open is Monday, when B&W’s offering is set to close and investors will see if demand can cover the new stock.
B&W’s deal is a double-edged sword. The new equity brings in cash for paying down debt and backing growth plans, but the extra shares mean dilution, which could keep a lid on the stock if investors think it’s run up too quickly.
B&W’s offering is underwritten, so banks are handling the share sale to investors. According to a Securities and Exchange Commission filing, B&W plans to sell 10,810,811 shares at $18.50 apiece. Underwriters have an option for another 1,621,621 shares. The base deal would bring in around $190 million after discounts but before other expenses.
B&W said it will first use the proceeds to prepay amounts under its credit agreement and may later reborrow for project capital, working capital needs tied to steam turbine and boiler output, AI data center power projects, pushing commercialization of its BrightLoop technology, possible acquisitions and corporate needs. BrightLoop is B&W’s chemical-looping system for hydrogen production and CO2 capture.
The stock saw a wild week. It surged 30.06% on Monday following first-quarter earnings, then kept rising Tuesday, Thursday and Friday. Shares closed the week at a 52-week high, with Friday hitting an intraday peak of $22.03. Volume spiked to 12.78 million shares Friday, up from 3.66 million the day before.
Babcock & Wilcox shares jumped after the company posted a first-quarter update with more revenue, better bookings and a fatter pipeline. B&W said revenue hit $214.4 million, up 44%. Adjusted EBITDA climbed 296% to $16.1 million. Backlog soared to $2.7 billion, up 483%. Adjusted EBITDA strips out interest, tax, depreciation, amortization and some items. Backlog totals work the firm has signed but hasn’t recorded as revenue yet.
Chief Executive Kenneth Young called it a “strong financial and operational start to 2026” and said B&W is seeing “strong interest from new AI data center and hyperscaler customers.” On the earnings call, Young said the AI data-center effect for B&W is “truly profound.” Babcock & Wilcox
Revenue this quarter got a lift from $31 million in Base Electron project sales, finance chief Cameron Frymyer said. Frymyer also pointed to higher demand from AI data centers and power markets. Young said parts and services business stayed strong, since coal plants are operating longer than the company had expected.
It’s not just about one small industrial. GE Vernova has flagged strong demand for power equipment linked to data centers, and Siemens Energy is in the mix too, as it supplies steam turbine systems for the Base Electron power project—directly connected to B&W’s story.
The risks are clear. The SEC prospectus warns that buying these shares means high risk, dilution, and stock swings. It points out that a B. Riley affiliate, which leads the deal, owns about 20.1% of B&W’s voting power, raising a conflict issue under FINRA rules. The filing also notes the company needs to refinance or pay off 6.50% senior notes maturing 2026.
Babcock & Wilcox Enterprises (BW) opens Monday with $18.50 as the first level to watch. Trading above that price would show the market is viewing the sale as growth capital. If the stock slips back toward or under $18.50, it signals worries about dilution or balance-sheet risk. Buyers will look next to Friday’s high at $22.03 if the stock holds up.
Weekend trading looks messy, not quiet. B&W is showing stronger operating momentum and the AI-power story is running hotter than last week. But with more shares in the market and Monday’s settlement ahead, traders are waiting to see if the rally has real backing or just fast moves.
