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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.
Revenue by Segment
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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