BWX Technologies has rolled up a trio of big “wins” in the Energy Department’s cleanup complex during the past 12 months and is hoping for more, President and CEO Rex Geveden said Wednesday.
“There remain significant pending opportunities including the re-award of the Savannah River [Site] liquid waste contract, Savannah River management and operations,” along with opportunities at the Hanford Site in Washington state and the Oak Ridge Site in Tennessee, Geveden said during BWXT’s quarterly earnings conference call.
The CEO did not elaborate. BWXT-led Savannah River EcoManagement in October 2017 was awarded a $4.7 billion, 10-year contract for liquid waste work at Savannah River in October 2017. However, DOE gave all three bidding teams another shot at the ring after the Government Accountability Office in February upheld one protest against the initial award. The re-award is expected soon. Meanwhile, activity on the Savannah River management procurement is on hold until 2019.
In September, a Fluor-BWXT team received a 30-month extension, valued at $850 million, on its existing cleanup contract at the Portsmouth Site in Ohio. The extension keeps the vendor team on the job through March 2021. The full 10-year contract is valued at about $3.7 billion.
In April, the Battelle Energy Alliance, for which BWXT is an integrated subcontractor, received a $5 billion successor contract for management and operations at the Idaho National Laboratory, through September 2024.
In December, DOE awarded a $1.4 billion, 10-year legacy waste cleanup contract at the Los Alamos National Laboratory in New Mexico to Newport News Nuclear BWXT-Los Alamos (N3B).
The contracts are all under BWXT’s Nuclear Services Group, which includes its DOE and National Nuclear Security Administration business.
BWXT’s updated 2018 guidance calls for earnings per share in the range of $2.23 to $2.27, down from the $2.45 to $2.55 forecast during the second quarter. Much of that is due to money spent on missile tube rework for the company’s naval submarine business.
