BWX Technologies, Inc. reported a solid start to 2025, with consolidated revenues increasing 13% year-over-year to $682.3 million in the first quarter. Government Operations revenue rose 14% to $555.3 million, driven by long-lead material procurements and the A.O.T. acquisition.
Commercial Operations revenue also grew 9.6% to $128.3 million, primarily from higher nuclear components manufacturing. Consolidated operating income increased to $96.6 million, with Government Operations maintaining a strong 17.6% margin, though Commercial Operations margin declined to 5.0% due to product mix and M&A expenses.
The company reported a non-GAAP EPS of $0.91 per share and a robust backlog of $4.88 billion as of March 31, 2025, with Commercial Operations backlog surging 78% year-over-year. Management reaffirmed its 2025 guidance, anticipating approximately $3 billion in revenue and adjusted EBITDA of $550 million to $570 million, signaling confidence in its strategic direction.
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