BWX Technologies is scheduled to report its third-quarter earnings before the market opens Tuesday, with the quarterly conference call with Wall Street analysts scheduled for 8:30 a.m.
Last time out, the Lynchburg, Va.-based government contractor posted $471 million in revenue for the second quarter, which was 7.4% above than the $439 million for the same period in 2018. That generated $58.9 million for the quarter ended June 30, or $0.62 per diluted share, compared to $60.7 million, or $0.60 per diluted share, a year earlier.
Company-wide, BWXT as of August maintained its guidance of $2.50 per share for 2019.
The Nuclear Services Group’s revenue was $29.8 million for the quarter, down 8.6% from about $32.6 million a year earlier. During its second-quarter earnings call in August, BWXT lowered its full-year operating income guidance for Nuclear Services, which manages its contracts for the U.S. Energy Department’s Office of Environmental Management, from roughly $25 million to $20 million. That was due largely to the slow pace of awards at the department, said President and CEO Rex Geveden. The quarterly operating income was $1.8 million, compared to $3.5 million a year before.
Geveden noted the company was pursuing stakes in two multibillion-dollar awards at DOE’s Hanford Site in Washington state: the Tank Closure Contract and the Central Plateau Cleanup Contract.
The Nuclear Power Group’s second-quarter revenue increased 14.5%, to $86.6 million from $75.7 million a year earlier. That was due in part to the 2018 purchase of Sotera Health’s Nordion medical radioisotopes business.
BWXT’s Nuclear Operations Group, which includes work for the Navy and uranium downblending for the Energy Department’s semiautonomous National Nuclear Security Administration (NNSA), increased its second-quarter revenue by 7.9% to $358.4 million. That compares to $332.1 million for the quarter ended June 30, 2018.
