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Sep 30, 2020
BWX Technologies Q3 2020 Earnings Report
BWXT delivered consistent performance and increased full-year earnings guidance.
Key Takeaways
BWX Technologies reported a 3% increase in revenue compared to Q3 2019, with solid performance across all segments. The company increased its 2020 EPS guidance for the second time this year.
Generated 3Q20 GAAP EPS of $0.76; non-GAAP EPS of $0.79
Reported 3Q20 consolidated revenue of $520 million, up 3% vs. 3Q19
Increased 2020 full-year non-GAAP EPS guidance to ~$3.00
Increased 2020 segment guidance given the performance observed in the Nuclear Operations Group and the Nuclear Power Group
Revenue by Segment
Forward Guidance
BWXT updated its 2020 guidance to reflect year-to-date performance and management’s outlook on the remainder of the year. 2020 guidance continues to incorporate business conditions related to the COVID-19 pandemic and assumes that current conditions will remain in effect through the remainder of 2020.
Positive Outlook
- Increased non-GAAP EPS from a range of $2.80 – $2.90 to ~$3.00 (excludes pension and post-retirement benefits mark-to-market)
- Increased consolidated revenue growth from up ~8% to up ~9%
- Increased NOG revenue growth from up ~10% to up more than 10%
- Increased NPG revenue growth from down ~1% to up slightly
- Increased NPG operating margin from ~11% to ~14%
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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