BWX Technologies reported its third-quarter 2024 financial results, with revenues reaching US$672.0 million, marking a 14% increase compared to the same period in the prior year. This revenue performance surpassed Wall Street's expectations, indicating solid top-line growth for the company.
The growth was primarily driven by a 17% increase in government operations, highlighting strong performance in the naval and microreactor segments. The recent acquisition of A.O.T. was noted for enhancing BWXT's Special Materials Portfolio, further strengthening its position in critical defense markets.
Despite the strong revenue, the company's earnings per share (EPS) lagged expectations for the quarter. However, BWXT's commercial operations demonstrated potential for double-digit growth, fueled by rising demand for nuclear medicine and clean energy solutions, signaling diversified growth avenues for the company.
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