BWX Technologies Inc
NYSE:BWXT
BWX Technologies Inc
BWX Technologies Inc. is a formidable force in the sphere of nuclear solutions, with its roots deeply embedded in providing critical components for both commercial and government applications. Its rich legacy traces back to the mid-20th century, initially contributing to the U.S. naval nuclear program. Today, BWX Technologies harnesses its vast experience and technological prowess to deliver high-performance nuclear reactors, fuel, and assemblies for the U.S. Navy’s fleet of aircraft carriers and submarines, which forms a significant portion of its business. This steady flow of government contracts not only underpins its revenue stream but also positions the company as a national defense stalwart.
On the commercial side, BWX Technologies has diversified its operations, venturing into nuclear medicine as well as the provision of nuclear fuel services. This includes producing and managing next-generation nuclear energy solutions, focusing on small modular reactors and other advanced technologies. By fulfilling the growing demand for cleaner energy solutions and the expanding field of nuclear medicine, BWX Technologies effectively taps into future-facing industries, endeavoring to streamline more sustainable and efficient technological innovations. The company’s meticulous focus on both the secure execution of its government contracts and the expansive potential of commercial nuclear applications forms a strategic blueprint for sustained growth in a fluctuating global landscape.
BWX Technologies Inc. is a formidable force in the sphere of nuclear solutions, with its roots deeply embedded in providing critical components for both commercial and government applications. Its rich legacy traces back to the mid-20th century, initially contributing to the U.S. naval nuclear program. Today, BWX Technologies harnesses its vast experience and technological prowess to deliver high-performance nuclear reactors, fuel, and assemblies for the U.S. Navy’s fleet of aircraft carriers and submarines, which forms a significant portion of its business. This steady flow of government contracts not only underpins its revenue stream but also positions the company as a national defense stalwart.
On the commercial side, BWX Technologies has diversified its operations, venturing into nuclear medicine as well as the provision of nuclear fuel services. This includes producing and managing next-generation nuclear energy solutions, focusing on small modular reactors and other advanced technologies. By fulfilling the growing demand for cleaner energy solutions and the expanding field of nuclear medicine, BWX Technologies effectively taps into future-facing industries, endeavoring to streamline more sustainable and efficient technological innovations. The company’s meticulous focus on both the secure execution of its government contracts and the expansive potential of commercial nuclear applications forms a strategic blueprint for sustained growth in a fluctuating global landscape.
Revenue Beat: BWXT reported third quarter revenue of $866 million, up 29% year-over-year, significantly ahead of expectations and driven by both Government and Commercial Operations.
Book-to-Bill & Backlog: Book-to-bill was a strong 2.6 and backlog reached $7.4 billion, up 23% sequentially and 119% year-over-year, reflecting large new national security contracts.
EPS & EBITDA Growth: Adjusted earnings per share rose 20% to $1, and adjusted EBITDA grew 19% to $151 million.
Commercial Operations Surge: Commercial revenue grew 122% (38% organic), boosted by the Kinectrics acquisition and strong medical and power segment performance.
Guidance Update: 2025 EPS guidance was raised to $3.75–$3.80 and free cash flow is now expected at the high end of the prior range ($285 million), while 2026 is expected to deliver another record year with continued growth.
Strategic Wins: BWXT secured two major long-term contracts ($1.5 billion and $1.6 billion) for uranium enrichment and high-purity depleted uranium, marking significant growth opportunities in the Special Materials business.
Operational Excellence: Management emphasized ongoing process improvements, investments in automation and AI, and a strong focus on margin expansion and cash generation.
