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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, Inc. (NYSE: BWXT) has finalized an amended and restated credit agreement with Wells Fargo and other lenders, enhancing its liquidity and revising critical terms. The new agreement includes a $250 million Term A Loan, maturing on Oct. 12, 2027, to repay existing borrowings under a $750 million Revolving Credit Facility, also extended to the same maturity date. Key terms adjusted allow netting of up to $100 million in cash assets, improving financial flexibility, according to CFO Robb LeMasters.
BWX Technologies, Inc. (NYSE: BWXT) will announce its third quarter 2022 results on November 7, 2022, after market close. A conference call will follow at 5:00 p.m. EST. Investors can access the presentation online at www.bwxt.com/investors. BWXT is a leading provider of nuclear solutions for various sectors including security and clean energy, operating with approximately 6,700 employees across 14 major sites in the U.S., Canada, and the U.K.
BWX Technologies, Inc. (NYSE: BWXT) announced that its subsidiary, BWXT Medical Ltd., has submitted a new drug application to the U.S. FDA for its technetium-99m (Tc-99m) generator used in diagnostic imaging. This proprietary technology will process molybdenum-99 (Mo-99) at an Ontario Power Generation reactor, aiming to provide a lower-cost, reliable alternative to current generators. Tc-99m is pivotal in over 40 million diagnostic procedures annually. The company is optimistic about future growth opportunities in therapeutic radioisotopes and expanding its product portfolio.
BWX Technologies, Inc. (NYSE: BWXT) has appointed Robert Duffy as senior vice president and chief administrative officer, effective August 29, 2022. Duffy brings extensive experience from his prior role at Harris Corporation, overseeing human resources, supply chain, and operational improvements. He replaces Rick Loving, who is retiring after 43 years with the company. Duffy’s leadership is expected to support BWXT's growth in core and new nuclear markets as noted by CEO Rex Geveden.
BWX Technologies, Inc. reported a strong second quarter 2022 with revenue of $554 million, up 10% year-over-year. GAAP net income reached $74.6 million or $0.82 per diluted share, a 32% increase. Adjusted EBITDA stood at $114.7 million, a 26% rise from the previous year. The company has increased its 2022 guidance for revenue, adjusted EBITDA, and capital expenditures while narrowing its non-GAAP EPS guidance. Key developments include completing Tc-99m reference batches and commencing work on the first advanced microreactor for the Department of Defense.
BWX Technologies, Inc. (NYSE: BWXT) has appointed Sharon H. Smoot as the new president of its Nuclear Operations Group, effective August 1, 2022. Smoot, a veteran of over 30 years in the U.S. Navy, brings extensive experience in nuclear industrial operations and logistics.
Her appointment follows the retirement of Joel W. Duling. BWXT is recognized for its innovative nuclear solutions across various sectors including defense and clean energy, supported by approximately 6,700 employees across 14 operational sites.
BWX Technologies, Inc. (NYSE: BWXT) will release its second quarter 2022 results on August 8, 2022, after market close. A conference call is scheduled for 5:00 p.m. EDT on the same day. Interested participants can join via phone or listen online. BWXT, based in Lynchburg, Virginia, employs approximately 6,700 people and operates 14 major sites across the U.S., Canada, and the U.K. This Fortune 1000 company specializes in nuclear solutions for global security and clean energy.
BWX Technologies, Inc. (NYSE: BWXT) has secured a CA$130 million contract from Bruce Power to supply replacement feeders for multiple reactor units as part of the Major Component Replacement (MCR) Project. The project, critical for extending the operational life of Bruce Power's reactors, will enhance the manufacturing workforce in Cambridge, Ontario. The contract, which will span 10 years, is anticipated to create skilled jobs while supporting clean electricity generation in Ontario. Production is set to start in Fall 2022, with project completion expected in 2031.
BWX Technologies, Inc. (NYSE: BWXT) announced a commercial agreement with Bayer AG for the supply of high-purity Actinium-225 (Ac-225). This agreement follows a prior arrangement made in September 2021, with supply expected to commence later this year. Ac-225 is a potent radioisotope utilized in targeted alpha therapies for cancer treatment. BWXT Medical, a subsidiary of BWXT, is a key player in the global supply of medical isotopes. Martyn Coombs, president of BWXT Medical, expressed enthusiasm about the deal, which aims to improve cancer treatment outcomes.
BWX Technologies (NYSE: BWXT) announced a licensing agreement with TRIUMF to produce high purity Actinium-225 (Ac-225) medical isotopes. This collaboration enhances their existing partnership aimed at developing targeted alpha therapies for cancer treatment. The agreement allows BWXT Medical to manufacture Ac-225 from irradiated thorium-232 at the TRIUMF facility, positioning the company as a leading global supplier of critical medical isotopes. The first commercial production of Ac-225 is anticipated to start in summer 2022.
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