Bwx Technologies Inc Stock Price, News & Analysis

BWX Technologies (NYSE: BWXT) has announced an agreement to acquire Kinectrics, Inc. for approximately US$525 million, including net pension and debt liabilities. Kinectrics, a leader in lifecycle management services for nuclear power and radiopharmaceutical industries, is expected to generate revenue of US$300 million in 2024.

The acquisition will strengthen BWXT's position in the CANDU reactor market and expand its presence in the U.S. and international markets. Kinectrics brings over 1,300 engineers and technical experts across 20 global sites, nearly doubling BWXT's Commercial Operations workforce.

The deal is expected to close mid-2025 and be modestly accretive to BWXT's earnings. Kinectrics will operate as a BWXT subsidiary within the Commercial Operations segment, with current CEO David Harris continuing to lead the organization.

L3Harris Technologies (NYSE: LHX) has finalized the sale of Aerojet Ordnance Tennessee (A.O.T.) to BWX Technologies (NYSE: BWXT) for approximately $100 million. The transaction is part of L3Harris' multi-year portfolio optimization strategy aimed at enhancing value for customers and shareholders.

A.O.T., which employs fewer than 100 people in Tennessee, is the exclusive supplier of depleted uranium to the U.S. government and manufactures advanced specialized metal components for defense, aerospace, and commercial applications.

BWX Technologies (NYSE: BWXT) has completed its acquisition of L3Harris' Aerojet Ordnance Tennessee (A.O.T.) business on January 3, 2025. A.O.T., which will operate within BWXT's government operations segment, is the sole provider of depleted uranium to the U.S. government and specializes in advanced specialty materials and high-strength alloy manufacturing.

The acquisition strengthens BWXT's Nuclear Operations Group's special materials portfolio. A.O.T.'s capabilities include production of specialized materials such as tungsten, molybdenum, tantalum, rhenium, titanium, nickel, aluminum, copper, metal-matrix composites, metal polymer composites, reactive materials, and custom alloys.

BWXT Canada and Westinghouse Electric Company have signed a memorandum of understanding (MOU) to support nuclear new-build projects in Canada and globally. Under the agreement, BWXT will potentially manufacture key components for AP1000® and AP300™ reactors, including steam generators, reactor vessels, pressure vessels and heat exchangers.

BWXT Canada, with over 60 years of expertise in nuclear power generation equipment, will provide Westinghouse and its customers with supply certainty for major components. The partnership aims to strengthen North America's nuclear manufacturing capabilities and support global clean energy projects while creating local jobs in Canada.

BWX Technologies (BWXT) has been awarded a Phase 1B contract through its joint venture, West Valley Cleanup Alliance (WVCA), for cleanup operations at the West Valley Demonstration Project in New York. The contract, valued at up to $3.0 billion, has a 10-year ordering period extendable to 15 years. WVCA, led by BWXT Technical Services Group and including Jacobs Technology and Geosyntec Consultants, will handle demolition, deactivation, soil remediation, waste management, security, and environmental monitoring at the 150-acre site. The project involves cleaning up the former commercial spent nuclear fuel reprocessing facility that operated from 1963 to 1972, processing 640 metric tons of spent nuclear fuel.

BWX Technologies (BWXT) reported strong Q3 2024 results with revenues of $672.0 million, up 14% year-over-year. Net income reached $69.6 million with diluted GAAP EPS of $0.76. The company raised its 2024 non-GAAP EPS guidance to approximately $3.20 and provided preliminary 2025 guidance expecting mid-to-high-single-digit growth in revenue, non-GAAP EPS, and adjusted EBITDA. Government Operations segment showed 17% revenue growth, while Commercial Operations increased by 1%. The company announced plans to acquire A.O.T., a sole source provider of depleted uranium and specialty metals for defense applications, targeting closure by year-end.

BWX Technologies (BWXT) has agreed to acquire L3Harris' Aerojet Ordnance Tennessee (A.O.T.) business for approximately $100 million. A.O.T., which generated revenue of about $40 million in the trailing twelve months, is the sole provider of depleted uranium to the U.S. government and manufactures specialized materials including tungsten, molybdenum, and various alloys. The acquisition, expected to close by year-end, will enhance BWXT's capabilities in advanced materials manufacturing for commercial, military, and space applications. The deal is anticipated to be slightly accretive to BWXT's earnings within 12-18 months, excluding purchase accounting and one-time costs.

BWX Technologies (BWXT) has signed an agreement to acquire L3Harris' Aerojet Ordnance Tennessee (A.O.T.) business for approximately $100 million. A.O.T., which generated revenue of about $40 million in the trailing twelve months, is the sole provider of depleted uranium to the U.S. government and manufactures specialized materials including tungsten, molybdenum, and various alloys. The acquisition is expected to close by year-end and become slightly accretive to BWXT's earnings within 12-18 months, excluding purchase accounting and one-time costs. The business will operate within BWXT's government operations segment.

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.