BWX Technologies, Inc. reports developments tied to its nuclear manufacturing, engineering, and services businesses for government and commercial customers. Recurring updates include U.S. Naval Nuclear Propulsion Program contracts, long-lead reactor and component manufacturing, commercial nuclear equipment, and work connected to nuclear fuel and uranium-enrichment capabilities.
Company news also covers operating and financial results for its Government Operations and Commercial Operations segments, capital actions, governance changes, and regulatory engagement involving nuclear licensing. BWXT’s recurring business themes span global security, clean energy, nuclear medicine, space exploration, and environmental restoration.
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.
BWX Technologies, Inc. (NYSE: BWXT) announces that Hanford Tank Waste Operations & Closure, (H2C) has been approved by the U.S. Department of Energy (DOE) to begin the Hanford Integrated Tank Disposition Contract (ITDC). The DOE issued H2C a notice to proceed, effective October 21, 2024. H2C is a joint venture led by a BWXT subsidiary and includes Amentum and Fluor companies. The contract was awarded earlier in 2024, and a protest against this award was recently dismissed in the U.S. Court of Federal Claims.
The ITDC scope includes operation of Hanford tank farm facilities, eventual operation of the Waste Treatment and Immobilization Plant, and responsibility for other core functions such as project management, security and emergency services, business performance, and environment, safety, health and quality. H2C's leadership team brings 170 years of combined experience in tank waste disposition and disciplined nuclear operations.
BWX Technologies, Inc. (NYSE: BWXT) announced that its subsidiary, Nuclear Fuel Services, Inc. (NFS), has been selected by the U.S. Department of Energy (DOE) as one of the successful bidders for High-Assay Low-Enriched Uranium (HALEU) deconversion services. This selection is aimed at supporting the civil advanced reactor marketplace.
The contract is an indefinite-delivery, indefinite-quantity agreement, with future orders to be solicited by the DOE from the awarded companies, including NFS. The minimum ordering guarantee for this contract is set at $2 million. The DOE is expected to release additional information about this award on October 8 at 5:30 p.m. E.T.
BWX Technologies (NYSE: BWXT) has announced that it will release its third quarter 2024 financial results on Monday, November 4, 2024, after the market closes. The company will host a conference call at 5:00 p.m. EST on the same day to discuss the results.
Investors and analysts can participate in the call using the following dial-in numbers:
- U.S.: 1-888-596-4144
- International: 1-646-968-2525
- Conference ID: 4276735
A live webcast and supporting presentation will be available on the company's website at www.bwxt.com/investors. A replay of the call will also be accessible on the BWXT website for a time.