BWX Technologies to Announce First Quarter 2022 Results on Monday, May 9 and Issues Interim Update on Key Initiatives

Rhea-AI Summary

BWX Technologies, Inc. (NYSE: BWXT) will release its first quarter 2022 results on May 9, 2022, after market close, followed by a conference call at 5:00 p.m. EDT. The company announced progress on key initiatives, including a $21 billion liquid waste management contract with the U.S. Department of Energy, the installation of a Tc-99m generator project, and a submission for phase 2 of the Project Pele program to the U.S. Department of Defense. Forward-looking statements included caution regarding potential risks that could impact contract performance and project timelines.

Positive

• Awarded a $21 billion contract for liquid waste management with the U.S. Department of Energy.
• Progress in the Tc-99m generator project, with installations completed and FDA submission imminent.
• Submission to the U.S. Department of Defense for phase 2 of the Project Pele program, with previous funding received.

Negative

• Minor delays in the Tc-99m generator project due to supply chain issues and equipment modifications.
• Regulatory approvals for the Tc-99m generator project may be delayed, affecting commercialization timing.

LYNCHBURG, Va.--(BUSINESS WIRE)-- BWX Technologies, Inc. (BWXT) (NYSE: BWXT) will issue a press release detailing first quarter 2022 results on Monday, May 9, 2022, after market close and will host a conference call at 5:00 p.m. EDT.

Listen-only participants are encouraged to participate and view the supporting presentation via the Internet at www.bwxt.com/investors. The dial-in numbers for participants are (U.S.) 844-850-0542 and (International) 412-317-6014. All participants should ask to be joined into the BWX Technologies (BWXT) call. A replay of the call will remain available on the BWXT website for a limited time.

BWXT also announced today that it has made progress on a number of key initiatives.

Savannah River Site Contract

BWXT joint venture Savannah River Mission Completion, LLC recently completed transition of the liquid waste program into the Integrated Mission Completion Contract (IMCC) for the U.S. Department of Energy at the 310-square-mile Savannah River Site. A month after assuming responsibility for the liquid waste program, the Salt Waste Processing Facility (SWPF) was successfully transitioned into the IMCC. The contract is estimated at $21 billion over a 10-year ordering period for operating facilities for liquid waste stabilization/disposition, including work at the SWPF, as well as potential future nuclear materials management and stabilization scope.

Tc-99m Generator Project

BWXT completed the installation of the first phase of the target delivery system this month and has completed the installation, testing and commissioning of the radiopharmaceutical production equipment. Next week we plan to begin final qualification runs supporting registration batches required for a comprehensive FDA submittal. The project team has encountered some minor delays related to the supply chain as well as process and equipment modifications. As a result, the FDA submission has been slightly delayed from our prior timing guidance, but remains imminent.

Project Pele Program

BWXT also completed its submission to the U.S. Department of Defense Strategic Capabilities Office for phase 2 of its Project Pele program to build an operating and transportable microreactor prototype. This effort is designed to leverage state-of-the-art technologies and recent advances in nuclear engineering to deliver an inherently safe nuclear reactor for deployment in remote or challenging locations. BWXT has previously been selected for two rounds of funding and participation in the program. This phase 2 award announcement is expected in the summer of 2022.

Forward Looking Statements

BWXT cautions that this release contains forward-looking statements, including statements relating to the performance, timing, impact and value, to the extent contract value can be viewed as an indicator of future revenues, of current or future contracts, expected work, or the exercise of any contract options or extensions, as well as the timing, performance and impact of the Tc-99m generator project, commercial production, regulatory submissions, qualifications and approvals. These forward-looking statements involve a number of risks and uncertainties, including, among other things, award, modification or termination of the contract, funding of current or future work, and delays in technology implementation; changes in market demand for, delays in and commercialization of our Tc-99m production; our ability to obtain the necessary regulatory approvals, licenses and permits to commercialize this product in a timely manner; competition in an environment of rapid technological change; and the enforcement and protection of our intellectual property rights. If one or more of these or other risks materialize, actual results may vary materially from those expressed. For a more complete discussion of these and other risk factors, please see BWXT’s annual report on Form 10-K for the year ended December 31, 2021 and subsequent quarterly reports on Form 10-Q filed with the Securities and Exchange Commission. BWXT cautions not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and undertakes no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.

About BWXT

At BWX Technologies, Inc. (NYSE: BWXT), we are People Strong, Innovation Driven. Headquartered in Lynchburg, Virginia, BWXT is a Fortune 1000 and Defense News Top 100 manufacturing and engineering innovator that provides safe and effective nuclear solutions for global security, clean energy, environmental remediation, nuclear medicine and space exploration. With approximately 6,600 employees, BWXT has 12 major operating sites in the U.S. and Canada. In addition, BWXT joint ventures provide management and operations at more than a dozen U.S. Department of Energy and NASA facilities. Follow us on Twitter at @BWXT and learn more at www.bwxt.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220330005886/en/

Media Contact

Jud Simmons

Director, Media and Public Relations

434.522.6462

hjsimmons@bwxt.com

Investor Contact

Mark Kratz

Vice President, Investor Relations

980.365.4300

investors@bwxt.com

Source: BWX Technologies, Inc.

FAQ

When will BWX Technologies release its first quarter 2022 results?

BWX Technologies will release its first quarter 2022 results on May 9, 2022, after market close.

What is the value of the Savannah River Site contract awarded to BWXT?

The Savannah River Site contract awarded to BWXT is valued at $21 billion over a 10-year ordering period.

What is the status of the Tc-99m generator project by BWXT?

BWXT has completed the installation of production equipment for the Tc-99m generator project but has encountered minor delays.

What is Project Pele in relation to BWX Technologies?

Project Pele is an initiative by BWXT to develop a transportable microreactor prototype for the U.S. Department of Defense.