BWX Technologies Inc

BWX Technologies turned in a standout third quarter for fiscal 2025, posting earnings per share of $1.00 against a consensus estimate of $0.858 — a beat of 16.55% — while revenue surged 28.9% year-over-year to $866.29 million, clearing Wall Street's $796.60 million estimate by 8.75%. The outperformance was anchored by an explosive quarter in Commercial Operations, where revenue more than doubled to $251.00 million on higher nuclear components, field services, and contributions from the Kinectrics acquisition, complementing steady 10% growth in the core Government Operations segment. Perhaps the most striking figure was BWXT's record backlog of $7.39 billion, up 119% year-over-year, a reflection of what management called an unprecedented demand environment across defense, clean energy, and medical nuclear markets. Free cash flow swung to $94.90 million from negative $7.70 million a year ago, adding financial credibility to the growth story. Encouraged by the momentum, management raised its 2025 non-GAAP EPS guidance to $3.75–$3.80 and set full-year revenue above $3.10 billion, while introducing a preliminary 2026 outlook targeting low-double-digit to low-teens adjusted EBITDA growth.