NEW YORK — Shares of Babcock & Wilcox Enterprises Inc. (NYSE: BW) surged more than 23% in morning trading Monday to $17.95, extending a remarkable rally as investors rewarded the industrial company's growing role in powering artificial intelligence data centers and its strong first-quarter performance.

The move comes one day after the company reported first-quarter 2026 results that showed significant backlog growth, new contract wins, and raised full-year guidance, reinforcing its transformation into a key player in the energy infrastructure needed for hyperscale AI facilities.

Q1 earnings beat expectations

Babcock & Wilcox reported first-quarter revenue of $214.4 million, up 44% year-over-year, with adjusted EBITDA of $16.1 million — a 296% increase. The company highlighted a massive $2.4 billion power generation project for AI data centers and more than $21 million in new fuel-switching technology awards.

Management raised its 2026 adjusted EBITDA guidance to $80–$100 million, citing strong demand for behind-the-meter power solutions tailored to AI factory campuses. The company's backlog reached $2.7 billion, while its total pipeline exceeded $14........

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