Lynchburg, Va.-based BWX Technologies will discuss its financial results for third quarter, ended Sept. 30, during a 9 a.m. Monday conference call with Wall Street analysts.
During the second quarter, BWX Technologies (BWXT) reported net income was up $5 million to about $64 million, or $0.67 per share, from about $59 million, or $0.62 per share, a year earlier.
In addition to being a major contractor for the Department of Energy’s weapons complex, BWXT also manufactures nuclear reactor components and fuel for U.S. Navy submarines and warships and performs services for commercial nuclear power plants.
The steady Navy work and other government contracts have helped blunt the effect of the COVID-19 pandemic on the company’s financial health, BWX Technologies President and CEO Rex Geveden said during the second quarter call.
During Monday’s call, financial analysts might quiz Geveden about the status of the $13-billion tank closure contract which a BWXT-led team, Hanford Works Restoration, was awarded in May. The Department of Energy put the contract award on hold following a bid protest filed with the Government Accountability Office, and Geveden has said that he expects no revenue from the deal this year.
The Virginia-based company is the junior partner in a number of joint-venture contractors for the DOE Environmental Management Office, including: the prime contractor for the Waste Isolation Pilot Protect in New Mexico; the decontamination and decommissioning contract for the Portsmouth Site in Ohio; and the cleanup contract for the West Valley Demonstration Project in New York.
