BWX Technologies (BWXT) Q1 2025 Earnings
How Did BWXT Stock React to Q1 2025 Earnings?
S&P 500 over the same 30 days: +7.22%.
Did BWXT Beat Earnings? Q1 2025 Results
Yes. BWX Technologies reported Q1 2025 earnings of $0.91 a share on May 5, 2025, beating the $0.76 consensus estimate by 19.0%. Revenue was $682.3M against a $646.0M estimate.
BWX Technologies kicked off 2025 with a standout first quarter, posting revenue of $682.26 million — up 13.0% year-over-year and ahead of the $645.98 million consensus by 5.62% — while non-GAAP EPS of $0.91 cleared the $0.7645 estimate by 19.03%. The primary driver behind the beat was the Government Operations segment, which generated $555.29 million in revenue on the strength of accelerated naval nuclear component production and special materials processing, complemented by contributions from the recently completed A.O.T. acquisition. Commercial Operations added $128.31 million, lifted by nuclear components and medical sales growth. Total backlog climbed 34% year-over-year to $4.88 billion, underscoring the durability of demand across both segments. With the pending Kinectrics acquisition on track to close mid-2025 and a land purchase in Oak Ridge signaling deeper involvement in NNSA uranium enrichment programs, management reaffirmed full-year guidance of approximately $3.00 billion in revenue, non-GAAP EPS of $3.40 to $3.55, and free cash flow of $265 to $285 million — projections that appear well-anchored given the quarter's momentum.
- Higher naval nuclear component production volumes
- Special materials processing growth
- Contribution from A.O.T. acquisition
- Higher commercial nuclear components and fuel handling revenue
- Higher medical sales
- Lower effective tax rate (17.7% vs 22.5% YoY)
- Strong working capital management and timing of awards
“We had a solid start to 2025 with financial results that were ahead of expectations, driven by an increased pace of work and good operational performance. We had another quarter of strong Commercial backlog growth and see robust opportunities for growth in our Government markets, highlighted by our recent land purchase to support the National Nuclear Security Administration's domestic uranium enrichment program.”
BWX Technologies CEO, on the earnings call
What Was BWX Technologies's Outlook in Q1 2025?
BWXT reaffirmed all components of its 2025 financial guidance: revenue of approximately $3,000 million, adjusted EBITDA of $550-$570 million, non-GAAP EPS of $3.40-$3.55, and free cash flow of $265-$285 million. The company expressed confidence in its near and medium-term outlook, citing robust backlog, strong demand in end-markets, operational excellence programs, and recent acquisitions including the pending Kinectrics acquisition expected to close in mid-2025. The company also announced a land purchase in Oak Ridge, Tennessee to support the NNSA's Domestic Uranium Enrichment Centrifuge Experiment.
BWXT YoY Financials
| Metric | Q1 2025 | Q1 2024 | Year over year |
|---|---|---|---|
| Revenue | $682.3M | $604.0M | +13.0% |
| Operating Income | $96.6M | $93.0M | +4.0% |
| Net Income | $75.5M | $68.5M | +10.3% |
BWXT Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.