BWX Technologies on Monday reported revenue of $439 million for the second quarter of 2018, a 7.1 percent improvement over the $410 million it brought in a year ago.
Net income at the Lynchburg, Va., government contractor came in at $60.7 million ($0.60 per share). That was down slightly from $61.3 million ($0.61 per share) in second-quarter 2017.
The company’s Nuclear Services Group, which includes business with the Energy Department cleanup office and the semiautonomous National Nuclear Security Administration (NNSA), reported operating income of $3.5 million for the second quarter, down from $15.4 million in the same period of 2017. The major difference was a favorable $7.9 million legal settlement for the prior-year period, BWXT said.
The company on Monday also announced completion of its purchase of Sotera Health’s Nordion medical isotope business. The deal involves about 150 Nordion employees and two facilities: Nordion’s primary medical isotope production facility in Ontario and an isotope processing site in British Columbia.
Management reiterated its 2018 fiscal guidance for earnings per share of $2.45 to $2.55.
Among a number of roles across the DOE complex, BWX Technologies is part of the Newport News Nuclear BWXT-Los Alamos (N3B) partnership, which in late April took over legacy nuclear cleanup at the Energy Department’s Los Alamos National Laboratory (LANL) in New Mexico. The venture has a decade-long contract worth about $1.4 billion.
BWX Technologies executives are scheduled to discuss the latest earnings at 9 a.m. Eastern Time today.
Separately, fellow DOE contractor AECOM is scheduled to discuss its earnings at noon today Eastern Time. It will release its results before the market opens.
