Babcock & Wilcox Enterprises, Inc. (NYSE:BW) extended its rally into Tuesday premarket trading after reporting stronger-than-expected second-quarter results, raising its full-year 2026 adjusted EBITDA target and announcing a new Siemens Energy agreement tied to data center power demand. The company said it will begin work with Siemens Energy on 20 steam turbine generator sets rated at 50 megawatts each, for a combined 1 gigawatt of capacity under B&W's FastPower program for data center projects, building on a previously announced turbine order. Shares were up 35.14% at $12.00 in premarket trading on Tuesday after surging 41.64% in Monday's after-hours session. For the quarter ended June 30, revenue climbed 130% year over year to $319.7 million from $138.9 million, net income improved to $14.3 million from a $58.5 million loss, earnings per share reached $0.07 from a loss of $0.63, and adjusted EBITDA increased 57% to $21.8 million from $13.9 million. The company said revenue, net income and adjusted EBITDA topped both company and consensus expectations. In the first half of 2026, revenue nearly doubled to $534.1 million from $287.5 million, the net loss narrowed to $62.7 million from $80.5 million, adjusted net income was $14.7 million excluding $77.4 million in non-cash warrant and stock-related costs, and adjusted EBITDA rose to $37.8 million from $17.9 million. First-half bookings jumped more than 1,058% to $2.7 billion, backlog reached $2.6 billion, and the global pipeline exceeded $14 billion, including 4 to 6 gigawatts of power-generation opportunities tied to AI data centers, utilities and industrial customers. Babcock & Wilcox also raised its 2026 adjusted EBITDA target to $80 million to $105 million from a previous $80 million target, said its Base Electron data center project is ahead of schedule and on budget, expects a second data center project to reach full notice to proceed before year-end, repurchased the remaining $61.8 million of December 2026 bonds and authorized a $50 million share repurchase program. As of June 30, total debt stood at $276.8 million and cash, cash equivalents and restricted cash totaled $382.8 million. The company also said its BrightLoop commercial demonstration project at Massillon remains on track for commercialization by late 2027.