Earnings rose at AtkinsRéalis, Montreal, Canada, in the second quarter, which the nuclear services and infrastructure company partially attributed to a brisk business in life extensions for power reactors, according to a Friday press release.
Net earnings for the second quarter ended June 30 were C$82.2 million [US $59.9 million], or C$0.47 [U.S. $0.34] a share, up from C$63.8 million [U.S. $46.5 million], or C$0.36 a share [US $0.26] in the year-ago quarter. Quarterly revenue was C$2.3 billion [US $1.7 billion], up year-over-year from C$2.1 billion [US $1.5 billion].
Quarterly earnings before interest and taxes for the nuclear segment, which includes AtkinsRéalis’ Department of Energy weapons complex work in the United States, were\\
C$43 million [US $31.3 million], up from C$33 million [US $24 million] a year ago. Nuclear segment revenue was about C$358 million [US $260 million], up from C$251 million [US $183 million] in the year-ago period. Extending nuclear plant service life by 30 years by replacing old components is proving to be a “no brainer” for many areas of the world, said AtkinsRéalis President & CEO Ian Edwards.
Earnings rose at BWX Technologies, Lynchburg, Va., in the second quarter, which the company on Monday attributed partly to organic growth in government operations, including interest in microreactors for the U.S. military, according to a press release and presentation.
BWXT’s net earnings for the second quarter were $73 million, or $0.79 a share, up from $59 million, or $0.64 a share, in the year-ago quarter. Quarterly revenue was $681.5 million, up year-over-year from $612.5 million.
“In recent months there have been multiple important developments supporting our nuclear markets, including passage of the ADVANCE Act, federal and state legislation supporting small modular reactor development and the Army and Defense Innovation Unit’s acquisition plans for microreactors at remote military bases, all of which have been complemented by broad-based support from private industry,” Rex Geveden, CEO of BWXT, said in the release.
The Canadian Nuclear Safety Commission this week agreed to reduce the time an Ontario Power Generation facility must keep used spent fuel in wet storage pools before moving it to dry storage.
According to a Tuesday press release, the commission agreed to allow Ontario Power’s Pickering Waste Management Facility to store up to 100 dry storage containers of used fuel that has been cooled in wet storage at the Pickering Nuclear Generating Station for at least six years. The prior time period for wet storage for at least 10 years, according to the release.
The decision follows a public hearing and stakeholder filings, the commission said.
