Although the Department of Energy has put the award on hold, BWX Technologies President and CEO Rex Geveden likes his company’s chances of retaining the potential $13-billion Tank Closure Contract at the Hanford Site in Washington state.
“We feel good about our prospects there,” Geveden said during the Lynchburg, Va.-based company’s third-quarter earnings call Monday with Wall Street analysts. “We wrote a winning proposal, obviously, and we’re standing by for that outcome, and that’s up to the DOE so I won’t make further comment on that.”
The DOE Office of Environmental Management put the brakes on the contract award in July to BWX Technologies-led Hanford Works Restoration after competing bidders filed challenges with the Government Accountability Office. Procurement officials at DOE’s nuclear cleanup office are deciding whether to go ahead with the award.
Geveden said DOE could announce its decision “hopefully in the near future.”
Meanwhile, Geveden said BWX Technologies (BWXT) is very interested in pursuing the National Nuclear Security Administration’s (NNSA) potentially $28-billion, 10-year management and operations contract for the Pantex Plant in Amarillo, Texas and the Y-12 National Security Complex in Oak Ridge, Tenn.
“We are not presently incumbent” but have a history with the sites, the CEO said. BWXT ran Y-12 and Pantex for most of the years since Congress created the NNSA in 2000. The separate Pantex and Y-12 management and operations contracts the company received in 2000 ended in 2014. NNSA has since combined management of the sites under a single contract.
Another target is the DOE Environmental Management Office’s next liquid waste management contract at the Savannah River Site in Aiken, S.C. BWXT is a minority partner in the Amentum-led incumbent, Savannah River Remediation. BWXT is also looking at the next Environmental Management cleanup contracts at the Oak Ridge Site in Tennessee and the Idaho National Laboratory, Geveden said.
On Monday, BWX Technologies reported taking in $520 million in revenue during the quarter ended Sept. 30, which is up 3% from the $506 million it took in during the same period a year ago. Net income dipped to $73.2 million, or $0.76 per share, compared with $74.8 million, or $0.78 per diluted share, in the same period in 2019. The results were aided by $16.6 million in Canadian government COVID-19 relief during the quarter.
