Exhibit 99.1

BABCOCK & WILCOX ENTERPRISES, INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF OPERATION  

	For year ended December 31, 2024						For quarter ended March 31, 2025
	Company Historical			Divestiture Group			Company Historical			Divestiture Group
(in thousands, except per share amounts)	as Reported			Pro Forma			as Reported			Pro Forma
Revenues	$	717,333		$	98,238		$	181,194		$	25,389
Costs and expenses:
Cost of operations		540,308			69,456			141,133			17,653
Selling, general and administrative expenses		141,476			14,681			32,727			3,711
Restructuring activities		1,296			-			-			-
Research and development costs		5,794			583			526			168
Impairment of goodwill and long-lived assets		3,729			-			950			-
(Gain) loss on asset disposals, net		(354	)		-			8			-
Total costs and expenses		692,249			84,719			175,344			21,532
Operating income (loss)		25,084			13,518			5,850			3,857
Other (expense) income:
Interest expense		(46,146	)		(1	)		(11,163	)		(121	)
Interest income		814			164			228			13
Loss on debt extinguishment		(7,267	)		-			-			-
Benefit plans, net		(31,937	)		-			(753	)		-
Foreign exchange		(109	)		(116	)		261			636
Other expense, net		(1,229	)		(556	)		136			32
Total other expense		(85,874	)		(510	)		(11,291	)		560
Loss from continuing operations before income tax expense		(60,790	)		13,008			(5,441	)		4,417
Income tax expense		12,172			(962	)		2,322			371
Loss from continuing operations		(72,962	)		13,970			(7,763	)		4,045
Income (loss) from discontinued operations, net of tax		13,183			-			(14,226	)		-
Net loss		(59,779	)		13,970			(21,989	)		4,045
Net (loss) income attributable to non-controlling interest		(136	)		(136	)		(18	)		(18	)
Net loss attributable to stockholders		(59,915	)		13,834			(22,007	)		4,028
Less: Dividends on Series A preferred stock		14,859			-			3,715			-
Net loss attributable to stockholders of common stock	$	(74,774	)	$	13,834		$	(25,722	)	$	4,028
Basic and diluted loss per share
Continuing operations	$	(0.96	)				$	(0.11	)
Discontinued operations		0.14						(0.15	)
Basic and diluted loss per share	$	(0.82	)				$	(0.26	)

BABCOCK & WILCOX ENTERPRISES, INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS  

	As of December 31, 2024						As of March 31, 2025
Consolidated Balance Sheets	Company Historical			Divestiture Group			Company Historical			Divestiture Group
(in thousands, except per share amount)	as Reported			Pro Forma			as Reported			Pro Forma
Cash and cash equivalents	$	23,399		$	-		$	21,628		$	-
Current restricted cash		94,167			-			84,990			-
Accounts receivable – trade, net		112,677			18,168			128,255			21,244
Contracts in progress		82,403			3,011			65,646			1,681
Inventories, net		108,899			44,087			111,485			47,664
Other current assets		25,096			1,519			28,544			2,267
Current assets held for sale		43,554			-			42,330			-
Total current assets		490,195			66,786			482,878			72,856
Net property, plant and equipment, and finance leases		69,593			8,672			71,171			8,679
Goodwill		82,138			30,727			82,495			30,851
Intangible assets, net		19,051			352			18,418			346
Right-of-use assets		32,789			15,887			31,817			15,750
Long-term restricted cash		10,042			-			10,138			-
Deferred tax assets		41			-			100			-
Other assets		23,148			6,612			22,696			6,800
Total assets		726,997			129,036			719,713			135,281
Accounts payable		101,025			8,958			119,097			9,856
Accrued employee benefits		4,859			1,029			4,688			970
Advance billings on contracts		58,478			664			53,636			297
Accrued warranty expense		3,446			699			3,395			727
Financing lease liabilities		1,644			-			1,705			-
Operating lease liabilities		3,550			346			3,281			361
Other accrued liabilities		35,958			7,264			40,617			8,538
Current senior notes		-			-			108,358			-
Current borrowings		125,137			-			124,168			-
Current liabilities held for sale		54,396			-			52,269			-
Total current liabilities		388,493			18,959			511,214			20,749
Senior notes, net of current portion		340,227			-			232,525			-
Borrowings, net of current portion		8,556			-			8,529			-
Pension and other postretirement benefit liabilities		192,665			-			189,516			-
Finance lease liabilities, net of current portion		28,501			-			28,055			-
Operating lease liabilities, net of current portion		30,315			16,514			29,522			16,419
Deferred tax liability		11,028			1,229			12,231			1,786
Other noncurrent liabilities		10,374			378			10,637			391
Total liabilities		1,010,159			37,080			1,022,229			39,345
Stockholders' deficit:
Preferred stock, par value $0.01 per share, authorized shares of 20,000; issued and outstanding shares of 7,669 at both December 31, 2024 and 2023		77			-			77			-
Common stock, par value $0.01 per share, authorized shares of 500,000; issued and outstanding shares of 95,138 and 89,449 at December 31, 2024 and 2023, respectively		5,208			-			5,240			-
Capital in excess of par value		1,558,828			-			1,564,743			-
Treasury stock at cost, 2,379 and 2,139 shares at December 31, 2024 and 2023, respectively		(115,500	)		-			(115,500	)		-
Accumulated (deficit) earnings		(1,645,716	)		110,298			(1,671,438	)		112,246
Accumulated other comprehensive (loss) income		(86,660	)		(18,928	)		(86,133	)		(16,798	)
Stockholders' deficit attributable to shareholders		(283,763	)		91,371			(303,011	)		95,448
Non-controlling interest		591			585			495			488
Total stockholders' deficit		(283,172	)		91,956			(302,516	)		95,936
Total liabilities and stockholders' deficit	$	726,987		$	129,036		$	719,713		$	135,281