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BWX Technologies : Reports First Quarter 2021 Results and Commences New Multi-Year Guidance Framework


Reports robust backlog of nearly $5.2 billion driven by Naval Reactors bookings and other wins
Reiterates 2021 guidance: non-GAAP earnings range of $3.05 to $3.20 per share
Initiates new $500 million share repurchase authorization
Commences new multi-year guidance framework for growth, free cash flow and capital allocation
BWX Technologies, Inc. (NYSE: BWXT) ( BWXT , we , us or the Company ) reported first quarter 2021 revenue of $528 million, a 2.6% decrease compared with $542 million in the first quarter 2020. Net income for the first quarter 2021 was $69.7 million, or $0.73 per diluted share, compared with GAAP net income of $75.5 million, or $0.79 per diluted share and non-GAAP net income of $75.6 million, or $0.79 per diluted share, in the prior-year period. A reconciliation of non-GAAP results is detailed in Exhibit 1. ....

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BWXT wins uranium processing and HALEU fuel contracts : Uranium & Fuel


11 March 2021
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The US Department of Energy (DOE) has awarded BWXT Nuclear Operations Group (BWXT NOG) two contracts worth a total of USD35 million. The first is for the recovery and conversion of uranium, while the second is for the completion of a new research reactor fuel line at its Lynchburg, Virginia facility.
BWXT s Lynchburg manufacturing facility is home to its speciality fuels manufacturing group (Image: BWXT)
The DOE s US Naval Nuclear Propulsion Program has awarded BWXT NOG - a subsidiary of BWX Technologies (BWXT) - a USD17.4 million contract for the recovery of uranium from scrap, waste and unused product to be converted into fuel to feed future products under the programme. This work began at BWXT s facility in Lynchburg in January this year and is expected to be completed by June 2022. An additional option is expected to be awarded later this year. ....

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The Allure of TRISO Nuclear Fuel Explained


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The Allure of TRISO Nuclear Fuel Explained
Tristructural isotropic (TRISO) particle fuel has long been used in high-temperature gas-cooled nuclear reactors, but it is seeing a resurgence as a result of other applications. Modern TRISO fuel designs are under consideration for an assortment of advanced reactors, including high-temperature reactors and microreactors, and even as accident-tolerant fuel for light water reactors.
In October 2020, when the U.S. Department of Energy (DOE) announced it chose TerraPower and X-energy to each receive $80 million in initial federal funding under the agency’s Advanced Reactor Demonstration Program (ARDP) to build their two distinct advanced nuclear reactors and begin operating them within seven years, the advanced reactor commun ....

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