Lynchburg, Va.-based BWX Technologies will issue its quarterly earnings report for the three months ended Sept. 30 after market close Tuesday, then will discuss the results in a conference call at 8:30 a.m. EST Wednesday.
In August, BWX Technologies reported $439 million in revenue for the second quarter of 2018, a 7.1 percent uptick from the $410 million reported a year earlier. The Energy Department contractor brought in net income of $60.7 million or $0.60 per share, down from $61.3 million, $0.61 per share, in second-quarter 2017.
BWXT’s Nuclear Services Group, which includes contracts with the Energy Department Office of Environmental Management and National Nuclear Security Administration (NNSA), reported $3.5 million in operating income for the quarter, down from $15.4 million in the same period of 2017. The difference was primarily due to a multimillion-dollar legal settlement during the prior year.
A BWXT-led team hopes to learn soon if it will retain a decade-long, multibillion-dollar contract it initially won in October 2017 for liquid waste management services at DOE’s Savannah River Site in South Carolina. The award came undone in February when the Government Accountability Office upheld a bid protest from a rival team. The Energy Department is expected to reissue the contract award any week now.
Meanwhile, nuclear fuel and services provider Centrus Energy will release its third-quarter 2018 earnings after market close on Wednesday, followed by a conference call with financial analysts at 8:30 a.m. EST Thursday.
For the second quarter, the Bethesda, Md.-based company reported a net loss of $26.1 million, or $3.08 per common share, compared to a $22.4 million loss, or $2.69 per common share, during the same period one year earlier. It had total revenue of $39.4 for the period, down from $44 million a year earlier.
During the first half of this year, Centrus reported a net loss of $51.1 million, compared to $14.8 million loss for the first six months of 2017.
Centrus is filing its final technical reports with the Nuclear Regulatory Commission for decommissioning and decontamination of its American Centrifuge Lead Cascade demonstration project at the Department of Energy’s Portsmouth Gaseous Diffusion Plant in Ohio. The equipment has been removed from the Portsmouth facility and the components are set for disposal, the company has said.
