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Sep 30, 2024
BWX Technologies Q3 2024 Earnings Report
BWX Technologies reported strong Q3 2024 results driven by key contract wins and double-digit revenue and earnings growth.
Key Takeaways
BWX Technologies reported a strong third quarter with revenues of $672.0 million and net income of $69.6 million. The company raised its 2024 non-GAAP EPS guidance to approximately $3.20 and provided preliminary 2025 guidance for revenue, non-GAAP EPS, and adjusted EBITDA to grow mid-to-high-single-digits, with free cash flow growth sustained at 10% or higher.
3Q24 revenues reached $672.0 million.
3Q24 net income was $69.6 million, with adjusted EBITDA at $127.0 million.
3Q24 diluted GAAP EPS was $0.76, and non-GAAP EPS was $0.83.
2024 non-GAAP EPS guidance was raised to approximately $3.20.
Revenue by Segment
Forward Guidance
BWXT raised its 2024 guidance for Revenue and Non-GAAP EPS, and reaffirmed its 2024 guidance for Adjusted EBITDA and Free Cash Flow. Looking into 2025, the company expects modest organic growth in Government Operations, a slight contribution from the A.O.T. acquisition, and robust double-digit organic growth in Commercial Operations, leading to mid-to-high-single-digit revenue, EBITDA and Earnings Per Share growth with improving free cash flow conversion.
Positive Outlook
- Revenue guidance raised for 2024.
- Non-GAAP EPS guidance raised for 2024.
- Adjusted EBITDA guidance reaffirmed for 2024.
- Free Cash Flow guidance reaffirmed for 2024.
- Expects modest organic growth in Government Operations for 2025.
Challenges Ahead
- The Company does not provide GAAP guidance because it is unable to reliably forecast most of the items that are excluded from GAAP to calculate non-GAAP results.
- These items could cause GAAP results to differ materially from non-GAAP results.
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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