Financial Performance - 4Q23 net income was $66.3 million, with adjusted EBITDA of $147.6 million[1] - Full year 2023 net income reached $246.3 million, and adjusted EBITDA was $471.9 million[1] - Operating income for the full year increased in both segments, with Government Operations up 12% and Commercial Operations up 9%[12] - Operating income for the three months ended December 31, 2023, was $123.2 million, with a non-GAAP operating income of $127.3 million[28] - Net income attributable to BWXT for the same period was $65.9 million, translating to diluted earnings per share of $0.72 GAAP and $1.01 non-GAAP[28] - Government Operations reported an operating income of $374.7 million for the year ended December 31, 2023, compared to $336.5 million in 2022, reflecting a 11.5% increase[33] - The company reported a net income of $246.3 million for the year ended December 31, 2023, compared to $238.6 million in 2022, a growth of 3.0%[34] - Net income for the year ended December 31, 2023, was $246.3 million, representing a 3.5% increase from $238.6 million in 2022[51] - Diluted earnings per share for the year was $2.68, compared to $2.60 in the previous year, reflecting a 3.1% increase[57] Revenue and Growth - Full year consolidated revenue increased to $2.5 billion, driven by higher naval nuclear component production and increased medical sales[12] - Fourth quarter revenue was $725.5 million, a 16% increase from $624.2 million in 4Q22[12] - 2024 guidance anticipates revenue exceeding $2.6 billion[8] - Total revenues for the year reached $2.5 billion, an increase from $2.2 billion in 2022, marking a growth of approximately 13.4%[57] - Total revenues for Q4 2023 reached $725.5 million, a 16.3% increase from $624.2 million in Q4 2022[37] - Government Operations revenue was $601.6 million, up 16.2% from $517.6 million year-over-year[37] Cash Flow and Assets - Free cash flow for 2023 was $212.4 million, a 358% increase compared to $46.4 million in 2022[12] - Net cash provided by operating activities for the year ended 2023 was $363.7 million, compared to $244.7 million in 2022, representing a 48.5% increase[34] - Cash and cash equivalents at the end of the period rose to $81.6 million, up from $40.99 million in 2022, marking a 99.5% increase[34] - Total current assets increased to $817.8 million as of December 31, 2023, from $771.6 million in 2022, showing a growth of 6.0%[35] Costs and Expenses - Depreciation and amortization expenses increased to $78.6 million in 2023 from $73.8 million in 2022, indicating a rise of 6.0%[34] - Research and development costs for the year were $7.6 million, down from $9.5 million in 2022, showing a reduction of about 20%[55] - The company incurred restructuring and transformation costs of $6.3 million during the year, compared to $8.2 million in the previous year[55] - Restructuring and transformation costs for the three months ended December 31, 2023, included $4.0 million in GAAP and $6.8 million in non-GAAP adjustments[28] Shareholder Returns - BWXT declared a quarterly cash dividend of $0.24 per common share, payable on March 28, 2024[38] - Adjusted EBITDA for the full year 2023 increased, with cash flows of $85.0 million distributed to shareholders[38] Future Outlook - 2024 guidance includes Non-GAAP EPS of $3.05-$3.20 and adjusted EBITDA of approximately $500 million, reflecting mid-single digit growth compared to 2023[2] - The Company will host its 2024 Investor Day on February 28, 2024, to provide further insights into its markets and strategy[20] Backlog and Bookings - The total backlog decreased to $3.997 billion from $4.144 billion year-over-year, indicating a 3.5% decline[37] - Bookings for Q4 2023 were $742.3 million, a 65.3% increase compared to $448.8 million in Q4 2022[37]

Investors interested in stocks from the Electronics - Miscellaneous Components sector have probably already heard of TE Connectivity (TEL) and BWX Technologies (BWXT) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The proven Zacks Rank ...

LYNCHBURG, Va.--(BUSINESS WIRE)--BWX Technologies, Inc. (NYSE: BWXT) today announced that its Nuclear Fuel Services, Inc. (NFS) subsidiary was awarded a $122 million contract extension from the Tennessee Valley Authority (TVA) for the downblending of highly enriched uranium (HEU) into low enriched uranium (LEU). Under this contract, NFS will continue to provide downblending services to the TVA in support of the National Nuclear Security Administration’s (NNSA) defense programs objectives. This contract e ...

Investors interested in stocks from the Electronics - Miscellaneous Components sector have probably already heard of TE Connectivity (TEL) and BWX Technologies (BWXT) . But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The proven Zacks Rank puts an emp ...

LYNCHBURG, Va.--(BUSINESS WIRE)--BWX Technologies, Inc. (NYSE: BWXT) will issue a press release detailing fourth quarter and full-year 2023 results on Tuesday, February 27, 2024 after market close and will host a conference call at 5:00 p.m. EST. Listen-only participants are encouraged to participate and view the supporting presentation via the internet at investors.bwxt.com. The dial-in numbers for participants are (U.S.) 1-888-550-5326 and (International) 1-646-960-0829; conference ID: 5948806. A replay ...

LYNCHBURG, Va.--(BUSINESS WIRE)--BWX Technologies, Inc. (NYSE: BWXT) announced today that Nicole W. Piasecki has been appointed to its board of directors effective January 2, 2024. Piasecki spent 25 years with The Boeing Company in a number of senior leadership positions, including the role of vice president and general manager of the Propulsion Systems Division for Boeing Commercial Airplanes. She currently serves on the boards of BAE Systems and Weyerhaeuser Company. Piasecki is also a senior advisor to ...

BWX Technologies, Inc. (NYSE:BWXT) Q3 2023 Earnings Conference Call November 1, 2023 5:00 PM ET Company Participants Chase Jacobson - Vice President, Investor Relations Rex Geveden - President & Chief Executive Officer Robb LeMasters - Senior Vice President & Chief Financial Officer Conference Call Participants Peter Arment - Baird Michael Ciarmoli - Truist Securities Scott Deuschle - Deutsche Bank Ron Epstein - Bank of America Pete Skibitski - Alembic Global Bob Labick - CJS Securities David Strauss - Barc ...

Our Purpose: We employ nuclear technology to solve some of the world's most important problems Our Mission: We provide safe and effective Third-Quarter 2023 Earnings Call Presentation Reported November 1, 2023 BWX Technologies, Inc. ("BWXT") cautions that statements in this presentation that are forward-looking and provide other than historical information involve risks and uncertainties that may impact actual results and any future performance suggested in the forward-looking statements. The forward-lookin ...

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was ...

down ~9% - ~4% significant inflection up Guidance assumptions o Modest labor progress including hiring/attrition Forward-Looking Statements Disclaimer BWX Technologies, Inc. ("BWXT") cautions that statements in this presentation that are forward-looking and provide other than historical information involve risks and uncertainties that may impact actual results and any future performance suggested in the forward-looking statements. The forward-looking statements in this presentation include, but are not limi ...