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BWX Technologies Inc (BWXT) delivers mission-critical nuclear components and technical services for government and commercial sectors worldwide. This dedicated news hub provides investors and industry professionals with authoritative updates directly from the company and verified sources.
Access real-time announcements including earnings reports, government contract awards, and R&D breakthroughs in nuclear manufacturing. Track developments across BWXT's core operations: precision component production for defense programs, radiopharmaceutical innovations, and environmental remediation projects.
Our curated feed simplifies monitoring of strategic partnerships, regulatory milestones, and technology advancements in nuclear operations. Bookmark this page for streamlined access to BWXT's official financial disclosures, facility updates, and leadership communications - all essential for understanding this specialized industrial leader.
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.
BWX Technologies has been awarded a $300 million contract by the U.S. Department of Defense to manufacture the Project Pele prototype reactor.
The first advanced nuclear microreactor in the U.S. will be built in Lynchburg, Virginia and Euclid, Ohio, with delivery expected in 2024.
Approximately 120 employees will work on the project, contributing to clean, zero-carbon energy for defense and potential commercial applications.
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.
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