Industry Overview - The artificial intelligence (AI)-powered data center industry is thriving, leading to increased interest in nuclear energy as a hot sector over the past year [1] - The demand for nuclear energy is being driven by the energy-intensive nature of AI technologies [1] Company Profiles Mirion Technologies - Mirion Technologies, based in Atlanta, GA, specializes in radiation detection, measurement, analysis, and monitoring products and services across North America, Europe, and the Asia Pacific [2] - The company is focusing on digital innovation in the nuclear and radiation safety sectors, recently partnering with Westinghouse Electric Company to enhance nuclear instrumentation with digital solutions [3][4] - Mirion's digital systems provide precise measurements and are less affected by environmental changes, ensuring high-quality data collection [5] - The transition to digital systems allows for standardized data recording and remote monitoring capabilities, enhancing operational efficiency [6] BWX Technologies - BWX Technologies, headquartered in Lynchburg, VA, manufactures and sells nuclear components in the U.S., Canada, and internationally [2] - The company is expanding its commercial power segment and benefiting from strong bookings and government contracts, particularly in nuclear demand [8] - BWXT has secured contracts with the U.S. Department of Defense for developing a micro-nuclear reactor and is collaborating with commercial nuclear energy companies [9] - The company is preparing for growth in the small modular reactors market, anticipating multiple follow-on orders in North America and Europe [12] Financial Performance Mirion Technologies - Mirion expects total revenues to grow by 5-7% year-over-year in 2025, with organic revenue growth projected at 5.5-7.5% [7] - Adjusted EBITDA is anticipated to be in the range of $215-$230 million, and adjusted free cash flow is projected between $85-$110 million [7] - The company forecasts adjusted earnings per share (EPS) in the range of 45-50 cents [7] BWX Technologies - BWXT's 2025 sales and EPS estimates imply a year-over-year improvement of 12.9% and 6.6%, respectively [19] - The company faces challenges from zirconium cost impacts and an unfavorable mix in its commercial operations [13][22] Market Performance - Over the past year, BWXT shares have increased by 45.1%, while Mirion shares have surged over 101% [14] - Mirion Technologies is perceived to have a better price performance and focus on digital innovation compared to BWX Technologies [22]