Home / Going-concern warnings / Babcock & Wilcox Enterprises, Inc.
Filed 2026-03-16 路 Form 10-K 路 Accession 0001630805-26-000018 small
Price before filing: $10.51 (2026-03-13 close, split/dividend-adjusted)
Market cap at flag: $1.57B (2026-03-16) 路 Latest: $657.6M (2026-10-16)
| Window | BW | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | +74.6% | +6.0% | +68.6% | 2026-04-15 |
| 90 days | +55.4% | +14.3% | +41.1% | 2026-06-15 |
| 180 days | -33.1% | +15.5% | -48.6% | 2026-09-14 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: 1 insider sold $10.4M (1 sale)
30 days after: 2 insiders bought $125K (2 purchases)
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2026-02-11 | BRC Group Holdings, Inc. (+3 joint filers) 10% owner | Sale | 1,155,382 | $9.00 | $10.4M | no | Form 4 |
| 2026-03-16: red flag filed | |||||||
| 2026-03-18 | Frymyer Cameron M Chief Financial Officer | Purchase | 1,285 | $14.76 | $19K | no | Form 4 |
| 2026-03-18 | Young Kenneth M Chief Executive Officer, Director | Purchase | 7,000 | $15.14 | $106K | no | Form 4 |
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-12-16 to 2026-04-15. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"As of the date of issuance of the Company's 2024 financial statements, the Company had uncertainty regarding its ability to refinance its Credit Agreement by November 30, 2025 and its Senior Notes by February 28, 2026, which raised substantial doubt about its ability to continue as a going concern."
Quoted from the filing. Source
The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.
Going-concern opinion issued by: BDO USA, P.C.
Source: independent auditor report in Form 10-K (period 2025-12-31)
Why this score: in auditor's report
Read the original filing on SEC.gov →
🔔 Get email alerts for this company
Not investment advice. Automated summary; verify against the filing.
The week's most serious auditor changes, restatements, late filings and going-concern warnings, in plain English. Free. Unsubscribe anytime.
Subscribe to the newsletter →
The signup form didn't load here (often an ad or privacy blocker). This opens beehiiv's secure signup page.
Form not showing? Subscribe on beehiiv →
Newsletter delivered by beehiiv. See our privacy policy.