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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.
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.
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