BWX Technologies (BWXT) Q3 2025 Earnings
How Did BWXT Stock React to Q3 2025 Earnings?
S&P 500 over the same 30 days: +1.55%.
Did BWXT Beat Earnings? Q3 2025 Results
Yes. BWX Technologies reported Q3 2025 earnings of $1.00 a share on Nov 3, 2025, beating the $0.86 consensus estimate by 16.6%. Revenue was $866.3M against a $796.6M estimate.
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.
- Higher naval nuclear component production volumes
- Special materials processing growth with large multi-year contracts
- Contribution from A.O.T. and Kinectrics acquisitions
- Higher commercial nuclear components, field services, and fuel handling revenue
- Higher medical sales
- Strong working capital management and timing of awards driving cash flow improvement
- Record backlog of $7.4 billion, up 119% YoY
“We delivered strong financial results in the third quarter of 2025 including double-digit organic revenue growth and healthy free cash flow. Further, we posted another quarter of robust bookings, driven by large, multi-year special materials contracts highlighting the trust our customers put in BWXT and the power in our differentiating nuclear credentials.”
BWX Technologies CEO, on the earnings call
What Was BWX Technologies's Outlook in Q3 2025?
BWXT raised its 2025 guidance: revenue now expected above $3.1 billion (up from ~$3.1 billion), non-GAAP EPS guidance raised to $3.75-$3.80 (from $3.65-$3.75), adjusted EBITDA narrowed to ~$570 million (mid-point of prior $565-$575 million range), and free cash flow raised to ~$285 million (from $275-$285 million range). The company introduced a preliminary 2026 outlook calling for low-double-digit to low-teens adjusted EBITDA growth and high-single-digit to low-double-digit non-GAAP EPS growth, positioning BWXT to meet or exceed its medium-term financial targets.
BWXT YoY Financials
| Metric | Q3 2025 | Q3 2024 | Year over year |
|---|---|---|---|
| Revenue | $866.3M | $672.0M | +28.9% |
| Gross Profit | $189.0M | $164.0M | +15.3% |
| Operating Income | $113.3M | $96.6M | +17.4% |
| Net Income | $82.2M | $69.5M | +18.3% |
BWXT Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.