Lynchburg, Va.-based BWX Technologies will file its fourth-quarter 2018 earnings report after the market closes today, and will discuss the results with financial analysts in an 8:30 a.m. Tuesday conference call.
The earnings call, for the quarter ended Dec. 31, will be webcast.
During the third quarter of 2018, BWXT reported revenue of $426 million, compared to $419 million for the same period of 2017. It posted net income of $77.9 million, or $0.78 per diluted share, up from $46.6 million, or $0.46 per diluted share, year on year.
During its November call, BWXT said reworking problematic welds done for the Navy’s new Columbia-class ballistic missile submarine proved costly. The BWXT Nuclear Operations Group took a $40 million revenue hit in the third quarter due to the missile tube problem. The company is a subcontractor to General Dynamics Electric Boat for the submarine work.
Third-quarter 2018 operating income for the Nuclear Operations Group, which includes BWXT’s missile tube and naval reactor businesses, fell off by about a third year over year to around $45 million, down from $66 million. Segment revenue came in at roughly $320 million in the quarter, down 1.5 percent or so from the third-quarter 2017 result of about $325 million.
The Nuclear Services Group, which includes BWXT’s business for the Energy Department Office of Environmental Management and National Nuclear Security Administration, most recently reported quarterly operating income of $6.5 million. That was up dramatically from about $800,000 a year earlier. Segment revenue rose to roughly $28 million in third-quarter 2018, from more than $27 million the year before.
