BWX Technologies, Inc. - BWXT STOCK NEWS

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.

BWX Technologies (NYSE: BWXT) announced it has secured the second phase of a contract from the Wyoming Energy Authority. This contract aims to assess the deployment of small-scale nuclear reactors in Wyoming as part of a resilient energy strategy. Phase one focused on defining nuclear application requirements and identifying Wyoming's supply chain capabilities. The $20 million cost-share program's phase two will involve conceptual design, regulatory planning, and demonstrating manufacturing capabilities. Completion is expected by Q3 2025. The initiative leverages the U.S. Department of Energy's Advanced Reactor Demonstration Program achievements and involves collaboration with Idaho National Laboratory.

BWX Technologies (BWXT) announced a $30 billion contract from the U.S. Department of Energy's National Nuclear Security Administration (DOE/NNSA) for managing and operating the Pantex Plant. The initial contract term is five years, with the possibility of three additional five-year options, extending to 20 years if fully exercised. The contract was awarded to PanTeXas Deterrence (PXD), a joint venture led by a BWXT subsidiary, including Fluor, SOC, A Day & Zimmermann Company, and The Texas A&M University System. Pantex is important for maintaining the U.S. nuclear weapons stockpile, supporting life extension programs, and other nuclear operations. The transition period will last four months, starting on an undetermined date.

BWXT Medical has submitted a Drug Master File (DMF) to the FDA for its No Carrier Added (n.c.a.) Actinium-225 (Ac-225) Active Pharmaceutical Ingredient. Ac-225 is an alpha-emitting isotope important for targeted alpha therapies (TATs) that selectively kill cancer cells. The DMF submission highlights BWXT's commitment to quality and regulatory standards, ensuring safety and efficacy. The isotope is produced via high-energy proton spallation of thorium targets, a method developed in collaboration with TRIUMF to yield high purity Ac-225. This filing supports clinical and pharmaceutical developments, marking a significant milestone for BWXT Medical.

BWX Technologies, Inc. reported strong first quarter 2024 results with revenues of $604.0 million, net income of $68.5 million, and adjusted EBITDA of $115.2 million. The company reaffirmed its 2024 non-GAAP EPS guidance of $3.05-$3.20. BWXT highlighted expansion plans for its Cambridge manufacturing plant to serve global markets and emphasized opportunities in nuclear technologies. The company remains focused on operational excellence and innovation to achieve its financial targets.

BWXT named the first member of GE Vernova Nuclear's small modular reactor (SMR) supplier group

BWXT Canada , a subsidiary of BWX Technologies, Inc., has been selected as the first qualified supply chain company to join the GE Vernova Nuclear's supplier group to advance the global deployment of the BWRX-300 small modular reactor. The purpose of the supplier group is to ensure a reliable, cost-effective, and innovative process for the manufacture and commercialization of the BWRX-300. BWXT is already engaged with GEH on an engineering contract for its BWRX-300 reactor pressure vessel for Ontario Power Generation's Darlington New Nuclear Project. The company plans to increase the site's manufacturing capacity by 50 percent for large components and to invest in advanced manufacturing equipment over the next few years. Additionally, the BWRX-300 is designed to reduce construction and operating costs by leveraging existing fuel, plant simplifications, proven components, and a design based on an NRC-certified reactor design. The collaboration between GE Vernova's power businesses and Ontario Power Generation is expected to strengthen Ontario's position at the forefront of the nuclear industry, fostering economic growth and job creation.