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Jun 30, 2021
BWX Technologies Q2 2021 Earnings Report
BWXT delivered solid results in Q2 2021, prepared for a strong second half of the year, and reiterated its full-year guidance.
Key Takeaways
BWX Technologies reported second quarter 2021 revenue of $505 million, consistent with the previous year. Net income was $59.3 million, or $0.62 per diluted share. The company reiterated its 2021 non-GAAP earnings guidance of $3.05 to $3.20 per share.
Generated Q2 2021 earnings of $0.62 per share on consolidated revenue of $505 million.
Reiterated 2021 non-GAAP earnings guidance of $3.05 to $3.20 per share.
Continued progress on Technetium-99m commercialization.
Secured award for next phase of Nuclear Thermal Propulsion Program with NASA.
BWX Technologies
BWX Technologies
BWX Technologies Revenue by Segment
Revenue by Segment
Government Operations Revenue
CapyFin.comCommercial Operations Revenue
CapyFin.com Forward Guidance
BWXT reiterated all components of 2021 guidance:
Positive Outlook
- Non-GAAP EPS range of $3.05 – $3.20 (excludes pension and post-retirement benefits mark-to-market)
- Consolidated revenue growth of low-single digits vs. 2020 results
- NOG revenue up slightly
- NPG revenue growth of ~6%
- NOG operating margin of “high teens” with upside from CAS pension reimbursement
Challenges Ahead
- NPG operating margin of ~13%
- NSG operating income range of $25-30 million
- Capital expenditures of ~$250 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income