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BWX Technologies, Inc. (BWXT) is a premier provider of nuclear components and fuel to the U.S. government. The company is renowned for its technical expertise, management, and site services, supporting government operations of complex facilities and environmental remediation activities. BWXT also plays a critical role in the commercial nuclear power industry, offering precision-manufactured components and specialized services.
Headquartered in Lynchburg, Virginia, BWXT has a significant presence with operations in Erwin, Tennessee; Mount Vernon, Indiana; Euclid, Ohio; Barberton, Ohio; Cambridge, Ontario, Canada; and over a dozen U.S. Department of Energy sites around the country. It employs more than 5,200 skilled professionals dedicated to advancing nuclear technology and safety.
BWXT operates in two main segments: Government Operations and Commercial Operations. The Government Operations segment encompasses the legacy Nuclear Operations Group and Nuclear Services Group, focusing on advanced reactor projects and innovative manufacturing techniques. The Commercial Operations segment includes the legacy Nuclear Power Group, which engages in research, development, and commercialization of medical and industrial radioisotopes and radiopharmaceuticals.
The company’s financial health is robust, with a majority of its revenue generated from its Government Operations segment. BWXT’s strategic partnerships and projects aim to enhance its market presence and technological capabilities. Geographically, while the company operates in the United States, Canada, and the United Kingdom, the bulk of its revenue comes from the United States.
Recent achievements highlight BWXT's commitment to innovation and excellence. The company continues to secure significant contracts, invest in cutting-edge technologies, and expand its services in the nuclear sector. These efforts underscore BWXT’s pivotal role in both government and commercial nuclear projects.
BWX Technologies (NYSE: BWXT) has announced the opening of the John D. Haynes School of Welding Technology at Mount Vernon High School in Indiana. The company, along with the U.S. Navy and BlueForge Alliance, invested $500,000 in the facility, which can accommodate up to 60 students annually. The program offers students a dual-track opportunity to complete their high school degree while obtaining professional welding certification, leading to direct employment opportunities at BWXT's Nuclear Operations Group. The initiative aims to address critical training needs for national defense priorities and may serve as a blueprint for similar programs nationwide.
BWX Technologies, Inc. (NYSE: BWXT) announces that Hanford Tank Waste Operations & Closure, (H2C) has been approved by the U.S. Department of Energy (DOE) to begin the Hanford Integrated Tank Disposition Contract (ITDC). The DOE issued H2C a notice to proceed, effective October 21, 2024. H2C is a joint venture led by a BWXT subsidiary and includes Amentum and Fluor companies. The contract was awarded earlier in 2024, and a protest against this award was recently dismissed in the U.S. Court of Federal Claims.
The ITDC scope includes operation of Hanford tank farm facilities, eventual operation of the Waste Treatment and Immobilization Plant, and responsibility for other core functions such as project management, security and emergency services, business performance, and environment, safety, health and quality. H2C's leadership team brings 170 years of combined experience in tank waste disposition and disciplined nuclear operations.
BWX Technologies, Inc. (NYSE: BWXT) announced that its subsidiary, Nuclear Fuel Services, Inc. (NFS), has been selected by the U.S. Department of Energy (DOE) as one of the successful bidders for High-Assay Low-Enriched Uranium (HALEU) deconversion services. This selection is aimed at supporting the civil advanced reactor marketplace.
The contract is an indefinite-delivery, indefinite-quantity agreement, with future orders to be solicited by the DOE from the awarded companies, including NFS. The minimum ordering guarantee for this contract is set at $2 million. The DOE is expected to release additional information about this award on October 8 at 5:30 p.m. E.T.
BWX Technologies (NYSE: BWXT) has announced that it will release its third quarter 2024 financial results on Monday, November 4, 2024, after the market closes. The company will host a conference call at 5:00 p.m. EST on the same day to discuss the results.
Investors and analysts can participate in the call using the following dial-in numbers:
- U.S.: 1-888-596-4144
- International: 1-646-968-2525
- Conference ID: 4276735
A live webcast and supporting presentation will be available on the company's website at www.bwxt.com/investors. A replay of the call will also be accessible on the BWXT website for a time.
BWX Technologies, Inc. (NYSE: BWXT), parent company of Nuclear Fuel Services (NFS), has announced a $100,000 donation to the Unicoi County United Way to support recovery efforts in Erwin, Tennessee following Hurricane Helene. The contribution will aid emergency response teams in providing essential supplies, medical aid, shelter, and long-term recovery services.
BWXT CEO Rex Geveden expressed solidarity with the Erwin community, where NFS has been operating since 1957. The company is also facilitating employee donations and organizing volunteer efforts to assist in the recovery process. NFS, a part of BWXT's Nuclear Operations Group, processes highly enriched uranium for naval nuclear reactors and provides uranium downblending services.
BWX Technologies (NYSE: BWXT) has been awarded a contract by the National Nuclear Security Administration (NNSA) to conduct a yearlong engineering study for the Domestic Uranium Enrichment Centrifuge Experiment (DUECE) program. The study aims to evaluate options for deploying a centrifuge pilot plant to establish domestic uranium enrichment capabilities for national security purposes.
The contract, awarded to BWXT subsidiary Nuclear Fuel Services, Inc., represents the next phase of the DUECE program. The objective is to inform the acquisition approach for a pilot plant that will demonstrate centrifuge performance, reliability, and life-cycle costs for the NNSA. Fluor will serve as the engineering, procurement, and construction service provider for this activity.
This initiative aligns with BWXT's strategy to expand its role in the national security nuclear fuel cycle, leveraging its unique nuclear operations infrastructure and NRC Category 1 uranium handling and processing licenses.
BWX Technologies, Inc. (NYSE: BWXT) has appointed Vittorio Puppo as president of BWXT Medical , effective August 12, 2024. Puppo brings over 30 years of experience in imaging, nuclear medicine, radiation therapy, and biotech. He previously served as COO of Radiopharm Theranostics and held various positions at Bracco, including chief marketing and strategy officer.
Puppo succeeds Jonathan Cirtain, who will transition back to his role as BWXT's chief development officer. BWXT Medical manufactures custom radiopharmaceuticals, radiotherapies, and medical isotopes in Ottawa and at TRIUMF's commercial cyclotron facility. The company aims to deliver high-quality nuclear medical products and solutions to improve patient outcomes worldwide.
BWX Technologies (NYSE: BWXT) reported strong second quarter 2024 results, with revenues of $681.5 million, net income of $73.0 million, and adjusted EBITDA of $126.2 million. The company's diluted GAAP EPS was $0.79, while non-GAAP EPS reached $0.82. BWXT revised its 2024 non-GAAP EPS guidance to $3.10-$3.20. The company saw solid organic growth across its business lines, with the Government Operations segment revenue increasing by 10% and Commercial Operations by 17%. BWXT also highlighted recent positive developments in nuclear markets, including the passage of the ADVANCE Act and support for small modular reactor development, which are expected to drive new opportunities for the company.
BWXT Medical and NorthStar Medical Radioisotopes have signed a Master Services Agreement (MSA) to collaborate on the production of actinium-225 (Ac-225), a critical medical isotope used in cancer treatments. The multi-year agreement focuses on processing and purifying radium-226, with potential for target design projects and backup supply opportunities.
This collaboration aims to streamline production processes, enhance safety protocols, and innovate new methods of isotope generation. BWXT Medical recently submitted a Drug Master File (DMF) for Actinium-225 API to the FDA, enabling clinical investigators and pharmaceutical companies to reference it in their regulatory submissions. The partnership is expected to accelerate radium-226 target design and fabrication efforts, expanding Ac-225 production capabilities.
BWX Technologies (NYSE: BWXT) announced that it will release its second quarter 2024 financial results on Monday, August 5, 2024, after the market closes. The company will hold a conference call to discuss these results at 5:00 p.m. EDT. Investors can access the call and supporting presentation through BWXT's investor relations website. The dial-in numbers for participants are 1-888-596-4144 (U.S.) and 1-646-968-2525 (International), with the conference ID 7880317. A replay of the call will be available on the BWXT website for a period. BWX Technologies is a U.S.-based Fortune 1000 company specializing in nuclear solutions for various sectors, including global security, clean energy, and nuclear medicine, employing approximately 7,800 individuals across multiple international sites.
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