BWX Technologies, Inc. - BWXT STOCK NEWS

BWX Technologies (BWXT) reported 1Q22 GAAP earnings of $0.64 per share, with a net income of $59.0 million, reflecting a decrease from $69.7 million in 1Q21. Revenue increased slightly to $531 million from $528 million. Adjusted EBITDA fell by 4% to $94.4 million, attributed to lower pension income and decreased productivity in naval reactors. The company completed crucial Tc-99m equipment testing and closed a strategic acquisition to enhance its naval nuclear manufacturing capabilities. Guidance for 2022 projects revenue and adjusted EBITDA growth of 3% to 4%.

BWX Technologies, Inc. has appointed Jan A. Bertsch as the new chair of its board of directors, effective May 3, 2022. She succeeds John A. Fees, who is retiring from the position. Bertsch, an independent director since 2013, previously chaired the audit and finance committee and has extensive executive experience, including roles at Owens-Illinois and Sigma-Aldrich. CEO Rex Geveden expressed confidence in Bertsch's leadership capabilities, citing her long-term engagement with the company.

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.

BWX Technologies (NYSE: BWXT) announced that the U.S. Naval Nuclear Propulsion Program has exercised contract options worth approximately $1 billion for producing naval nuclear reactor components and fuel. BWXT Nuclear Operations Group will handle $840 million in reactor components manufacturing across various U.S. locations, while $200 million will cover fuel manufacture at Nuclear Fuel Services in Erwin, Tennessee. This collaboration extends BWXT's 65-year history with the U.S. Navy, which includes supplying reactors for major naval vessels.

BWX Technologies (NYSE: BWXT) has restructured its reporting segments to enhance operational efficiency and growth. Effective Q1 2022, the company will report under two segments: Government Operations and Commercial Operations. Kevin McCoy has been appointed president of Government Operations, focusing on naval reactor manufacturing and environmental management, while John MacQuarrie leads Commercial Operations, overseeing the nuclear power generation and medical isotope sectors. This strategic shift aims to drive a multi-faceted growth strategy across diverse customer bases.

BWX Technologies, Inc. reported strong fourth quarter and full-year 2021 results, with a 6% increase in Q4 revenue to $592 million and GAAP EPS of $1.26, an 83% rise compared to Q4 2020. Full-year revenue surpassed $2.1 billion with an 11% increase in GAAP EPS to $3.24. The company announced a consolidation of its reporting segments and provided a 2022 outlook with revenue and adjusted EBITDA growth of 3-4%. BWXT generated $160 million in Q4 cash from operations and returned $305 million to shareholders, including an increased quarterly dividend of $0.22 per share.

BWX Technologies, Inc. (NYSE: BWXT) will release its fourth quarter and full-year 2021 results on February 22, 2022, after market close. The company will host a conference call at 5:00 p.m. EST that day. Investors and analysts are invited to participate via phone or by viewing the presentation online. BWXT delivers nuclear solutions for security, clean energy, and space exploration, employing approximately 6,700 people across 12 major sites in the U.S. and Canada. Further details, including a replay of the call, will be available on their official website.

BWX Technologies, Inc. (NYSE: BWXT) will host an Investor Day on November 16, 2021, from 8:30 a.m. to 11:30 a.m. ET. This event will provide insights into the company's operations and future strategies across its diverse business portfolio. Key executives, including Rex Geveden, Robb LeMasters, and others, will be presenting. Participants can join the event virtually and access materials online. A recording will be available afterward on BWXT's Investor Relations website.