BWXT enjoys strong quarter led by government operations

Earnings rose at BWX Technologies, Lynchburg, Va. in the second quarter, which the company attributed to strong performances in government operations.

 “We had exceptionally strong second quarter 2025 financial results driven by solid operational performance and pacing of work, particularly in Government Operations, which was complemented by robust bookings in both segments, leading to record backlog,” BWXT President and CEO Rex Geveden said in its Monday earnings report.

Net earnings for the second quarter ended June 30 were $78.5 million, or $0.85 a share, up from $73 million, or $0.79 a share, in the year-ago quarter. Quarterly revenue was $764 million, up year-over-year from $681.5 million.

Quarterly segment operating income for the government operations was $589 million up from $540.8 million a year ago. Government operation numbers were driven by its special materials portfolio, the acquisition of L3Harris’Aerojet Ordnance Tennessee and timing of material procurement, Geveden said during the conference call.

BWXT signed a pricing agreement for naval reactors and components and booked $1 billion of $2.6 billion total contract value in the second quarter. The $2.6 billion contract builds on the contract the company was awarded in February. BWXT had a record backlog of $6 billion, up 70.2% year-over-year, according to its earnings report.

A BWXT-led team, Nuclear Laboratories Partners of Canada, was awarded a six-year contract worth C$1.2 billion ($871 million US$) per year to manage Canadian National Laboratories.

A link to the earnings presentation is available here. 

When asked, Geveden said BWXT will look to get involved with new builds of Westinghouse’s AP-1000 as the two companies have a memorandum of understanding. BWXT could provide pressure reactor components such as steam generators and heat exchangers for the AP1000s, the CEO added. 

“The demand for nuclear solutions in the global security, clean energy, and medical markets continues to accelerate,” Geveden said. “Our robust manufacturing, processing, and servicing capabilities stem from decades of real nuclear experience and our strategic investments in innovation and efficiency; these are underpinned by our technical depth and long history of successfully delivering nuclear solutions to our customers.”

BWXT-led teams hold multi-billion-dollar liquid waste cleanup contracts at the Hanford Site in Washington state and the Savannah River Site in South Carolina.