Q1 26 EPS
$1.12
BEAT +20.99%
Est. $0.93
Q1 26 Revenue
$860.2M
BEAT +2.57%
Est. $838.7M
vs S&P Since Q1 26
-9.2%
TRAILING MARKET
BWXT -6.0% vs S&P +3.2%
Market Reaction
Did BWXT Beat Earnings? Q1 2026 Results
BWX Technologies delivered a strong first-quarter 2026 performance, posting non-GAAP EPS of $1.12 against a consensus estimate of $0.93, a beat of nearly 21%, while revenue climbed 26.1% year-over-year to $860.22 million, ahead of the $838.65 million… Read more BWX Technologies delivered a strong first-quarter 2026 performance, posting non-GAAP EPS of $1.12 against a consensus estimate of $0.93, a beat of nearly 21%, while revenue climbed 26.1% year-over-year to $860.22 million, ahead of the $838.65 million analysts had expected. The quarter's standout driver was a remarkable surge in the Commercial Operations segment, where revenue more than doubled to $283.64 million, powered by higher commercial nuclear components, field services activity, and the contribution from the Kinectrics acquisition. Government Operations, meanwhile, grew a steady 4% to $577.90 million on the back of naval reactors demand and special materials processing. Free cash flow nearly tripled to $50.10 million, underscoring improved working capital discipline. Total backlog expanded dramatically to $8.65 billion, reflecting substantial new contract awards including over $1.4 billion in naval propulsion contracts. Management raised full-year 2026 guidance across every key metric, now targeting revenue above $3.75 billion and non-GAAP EPS of $4.60 to $4.75, with the pending Precision Components Group acquisition representing additional upside not yet reflected in those figures.
Key Takeaways
- • Higher special materials processing revenue and naval reactors growth in Government Operations
- • Higher commercial nuclear components, field services, fuel and fuel handling revenue in Commercial Operations
- • Growth in medical sales
- • Contribution from Kinectrics acquisition
- • Higher throughput and improved operating performance
- • Lower effective tax rate (15.0% vs. 17.7% year-ago)
- • Lower interest expense
- • Improved working capital management
BWXT Forward Guidance & Outlook
BWXT raised its full-year 2026 guidance across all key metrics. Revenue is now expected to exceed $3.75 billion (prior guidance was approximately $3.75 billion). Adjusted EBITDA guidance was raised to $650 million-$665 million from $645 million-$660 million. Non-GAAP EPS guidance was raised to $4.60-$4.75 from $4.55-$4.70. Free cash flow guidance was raised to $315 million-$330 million from $305 million-$320 million. The 2026 guidance does not include contribution from the announced PCG acquisition.
BWXT YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
BWXT Revenue by Segment
With YoY comparisons, source: SEC Filings
“We started 2026 with strong results. Our first quarter results were driven by pacing of work, higher throughput and improved operating performance as we executed on our robust backlog and pursued new opportunities across our global security, commercial power, and nuclear medicine markets.”
— Rex D. Geveden, Q1 2026 Earnings Press Release
BWXT Earnings Trends
BWXT vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
BWXT EPS Trend
Earnings per share: estimate vs actual
BWXT Revenue Trend
Quarterly revenue: estimate vs actual
BWXT Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $0.93 | $1.12 | +20.99% | $860.2M | +2.57% |
| Q4 25 BEAT FY | $0.88 | $1.08 | +22.17% | $885.8M | +5.78% |
| FY Full Year | — | $4.01 | — | $3.20B | — |
| Q3 25 BEAT | $0.86 | $1.00 | +16.55% | $866.3M | +8.75% |
| Q2 25 BEAT | $0.79 | $1.02 | +28.67% | $764.0M | +7.49% |
| Q1 25 BEAT | $0.76 | $0.91 | +19.03% | $682.3M | +5.62% |