LYNCHBURG, Va.--(BUSINESS WIRE)--BWX Technologies, Inc. (NYSE: BWXT) is hosting an Investor Day with financial analysts and institutional investors today, February 28, 2024, at 8:30 a.m. to approximately 11:30 a.m. ET. During the event, BWXT management will discuss its business, strategic direction and growth outlook. There will also be a live question and answer session following the prepared remarks. Among the presenters will be: Rex Geveden, President and Chief Executive Officer Robb LeMasters, Seni ...

Financial Data and Key Metrics Changes - The company reported 2023 revenue of $2.5 billion, a 12% increase compared to the previous year, with adjusted EBITDA up 7% for the year [3][9] - Fourth quarter adjusted earnings per share (EPS) was $1.01, an 8% increase from $0.93 last year, while full year adjusted EPS was $3.02, down from $3.13 in 2022 [9][100] - Free cash flow for the year was $212 million, significantly up from 2022, driven by strong working capital management [28][106] Business Line Data and Key Metrics Changes - Government Operations revenue in Q4 was up 16% to $602 million, with adjusted EBITDA of $131 million, a 13% increase from last year [10] - Commercial Operations revenue also grew by 16%, driven by nearly 40% growth in medical, with adjusted EBITDA increasing to $21.3 million from $13.6 million last year [29][100] - The medical segment achieved a positive EBITDA position, marking a significant turnaround [8][25] Market Data and Key Metrics Changes - The company continues to see strong demand in the small modular reactor (SMR) market and is well-positioned as a merchant supplier [6] - The global nuclear energy market is gaining momentum, with over 20 countries committing to tripling nuclear energy by 2050 [102] - The company is experiencing healthy demand for diagnostic isotopes and expects similar growth in 2024, complemented by increasing sales of therapeutic isotopes [25][102] Company Strategy and Development Direction - The company is focused on operational excellence initiatives, including improvements in operational equipment effectiveness and supply chain management [5] - There is a commitment to driving predictable earnings and free cash flow conversion with a balanced capital allocation approach [12] - The company signed a net zero nuclear industry pledge, indicating a long-term commitment to nuclear energy [24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued growth in 2024, driven by strong demand trends across global security, clean energy, and medical end markets [12][124] - The company expects mid-single-digit revenue growth in 2024, with government operations growth in the low to mid-single digits [128] - Management highlighted the importance of talent acquisition and management as foundational components of the operating strategy [120] Other Important Information - The company was awarded a $300 million contract for naval nuclear fuel manufacturing through mid-2025 [4] - Capital expenditures for the full year were $150 million, consistent with maintenance requirements and select growth investments [127] Q&A Session Summary Question: What isotopes are driving growth in BWX Medical? - Management noted strong growth across the portfolio, particularly in actinium and lutetium, with no forecast for tech-99 in 2024 [15][25] Question: How is the Hanford Tank project treated in guidance? - Management indicated that the Hanford project is included in guidance but is not expected to have a meaningful impact [16][113] Question: What is the current status of the tech-99 FDA approval process? - Management confirmed that there are no changes in the approval timeline and still expects commercialization in 2024 [69][70] Question: What is driving the momentum in government operations? - Management highlighted the ramp-up of the DRACO space microreactor program and growth in non-naval projects as key drivers [79][81] Question: Are there any risks related to the budget environment? - Management stated that while some government programs could be affected by continuing resolutions, the overall business is well insulated from such risks [82][96]

BWX Technologies (BWXT) came out with quarterly earnings of $1.01 per share, beating the Zacks Consensus Estimate of $0.94 per share. This compares to earnings of $0.93 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 7.45%. A quarter ago, it was expected that this supplier of nuclear fuel and components to the U.S. government would post earnings of $0.66 per share when it actually produced earnings of $0.67, delivering a surpr ...

Our Mission: We provide safe and effective Fourth Quarter 2023 and Outlook Highlights on ensuring the highest ESG standards medicine, and space exploration ‒ Secured key special materials wins: U-Metal conversion and purification; HALEU feedstock; Downblending extension through 2027 4 Our Purpose: We employ nuclear technology to solve some of the world's most important problems Fourth-Quarter 2023 Earnings medicine, and space exploration Commitment to innovation, operational Forward-Looking Statements Discl ...

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Securities Registered Pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.01 par value B ...

Financial Performance - 4Q23 net income was $66.3 million, with adjusted EBITDA of $147.6 million[1] - Full year 2023 net income reached $246.3 million, and adjusted EBITDA was $471.9 million[1] - Operating income for the full year increased in both segments, with Government Operations up 12% and Commercial Operations up 9%[12] - Operating income for the three months ended December 31, 2023, was $123.2 million, with a non-GAAP operating income of $127.3 million[28] - Net income attributable to BWXT for the same period was $65.9 million, translating to diluted earnings per share of $0.72 GAAP and $1.01 non-GAAP[28] - Government Operations reported an operating income of $374.7 million for the year ended December 31, 2023, compared to $336.5 million in 2022, reflecting a 11.5% increase[33] - The company reported a net income of $246.3 million for the year ended December 31, 2023, compared to $238.6 million in 2022, a growth of 3.0%[34] - Net income for the year ended December 31, 2023, was $246.3 million, representing a 3.5% increase from $238.6 million in 2022[51] - Diluted earnings per share for the year was $2.68, compared to $2.60 in the previous year, reflecting a 3.1% increase[57] Revenue and Growth - Full year consolidated revenue increased to $2.5 billion, driven by higher naval nuclear component production and increased medical sales[12] - Fourth quarter revenue was $725.5 million, a 16% increase from $624.2 million in 4Q22[12] - 2024 guidance anticipates revenue exceeding $2.6 billion[8] - Total revenues for the year reached $2.5 billion, an increase from $2.2 billion in 2022, marking a growth of approximately 13.4%[57] - Total revenues for Q4 2023 reached $725.5 million, a 16.3% increase from $624.2 million in Q4 2022[37] - Government Operations revenue was $601.6 million, up 16.2% from $517.6 million year-over-year[37] Cash Flow and Assets - Free cash flow for 2023 was $212.4 million, a 358% increase compared to $46.4 million in 2022[12] - Net cash provided by operating activities for the year ended 2023 was $363.7 million, compared to $244.7 million in 2022, representing a 48.5% increase[34] - Cash and cash equivalents at the end of the period rose to $81.6 million, up from $40.99 million in 2022, marking a 99.5% increase[34] - Total current assets increased to $817.8 million as of December 31, 2023, from $771.6 million in 2022, showing a growth of 6.0%[35] Costs and Expenses - Depreciation and amortization expenses increased to $78.6 million in 2023 from $73.8 million in 2022, indicating a rise of 6.0%[34] - Research and development costs for the year were $7.6 million, down from $9.5 million in 2022, showing a reduction of about 20%[55] - The company incurred restructuring and transformation costs of $6.3 million during the year, compared to $8.2 million in the previous year[55] - Restructuring and transformation costs for the three months ended December 31, 2023, included $4.0 million in GAAP and $6.8 million in non-GAAP adjustments[28] Shareholder Returns - BWXT declared a quarterly cash dividend of $0.24 per common share, payable on March 28, 2024[38] - Adjusted EBITDA for the full year 2023 increased, with cash flows of $85.0 million distributed to shareholders[38] Future Outlook - 2024 guidance includes Non-GAAP EPS of $3.05-$3.20 and adjusted EBITDA of approximately $500 million, reflecting mid-single digit growth compared to 2023[2] - The Company will host its 2024 Investor Day on February 28, 2024, to provide further insights into its markets and strategy[20] Backlog and Bookings - The total backlog decreased to $3.997 billion from $4.144 billion year-over-year, indicating a 3.5% decline[37] - Bookings for Q4 2023 were $742.3 million, a 65.3% increase compared to $448.8 million in Q4 2022[37]

Investors interested in stocks from the Electronics - Miscellaneous Components sector have probably already heard of TE Connectivity (TEL) and BWX Technologies (BWXT) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The proven Zacks Rank ...

LYNCHBURG, Va.--(BUSINESS WIRE)--BWX Technologies, Inc. (NYSE: BWXT) today announced that its Nuclear Fuel Services, Inc. (NFS) subsidiary was awarded a $122 million contract extension from the Tennessee Valley Authority (TVA) for the downblending of highly enriched uranium (HEU) into low enriched uranium (LEU). Under this contract, NFS will continue to provide downblending services to the TVA in support of the National Nuclear Security Administration’s (NNSA) defense programs objectives. This contract e ...

Investors interested in stocks from the Electronics - Miscellaneous Components sector have probably already heard of TE Connectivity (TEL) and BWX Technologies (BWXT) . But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The proven Zacks Rank puts an emp ...

LYNCHBURG, Va.--(BUSINESS WIRE)--BWX Technologies, Inc. (NYSE: BWXT) will issue a press release detailing fourth quarter and full-year 2023 results on Tuesday, February 27, 2024 after market close and will host a conference call at 5:00 p.m. EST. Listen-only participants are encouraged to participate and view the supporting presentation via the internet at investors.bwxt.com. The dial-in numbers for participants are (U.S.) 1-888-550-5326 and (International) 1-646-960-0829; conference ID: 5948806. A replay ...