BWXT · BWX Technologies, Inc.

BWX Technologies delivered a strong start to 2026, with first quarter revenue climbing 26% to $860.2 million, significantly outpacing prior year performance. The growth was primarily driven by the Commercial Operations segment, which saw revenues surge 121% to $283.6 million due to higher commercial nuclear components revenue, field services, and contributions from Kinectrics. Government Operations also contributed, growing 4% to $577.9 million on higher special materials processing and naval reactors growth. Profitability expanded with GAAP operating income rising 10% to $106.7 million and adjusted EBITDA increasing 14% to $148.0 million. Management attributed the performance to pacing of work, higher throughput, and improved operating performance. GAAP diluted EPS rose 21% to $0.99, while non-GAAP EPS reached $1.12. The company also announced the acquisition of Precision Components Group, LLC, marking a strategic step into U.S.-based commercial nuclear manufacturing. Reflecting confidence in the business trajectory and robust backlog, management raised full-year 2026 guidance, targeting adjusted EBITDA of $650-$665 million and non-GAAP EPS of $4.60-$4.75, excluding contributions from the newly announced acquisition.