- 4Q25 diluted GAAP EPS of $1.01, diluted non-GAAP EPS(1) of $1.08
- 4Q25 net income of $93.7 million, adjusted EBITDA(1) of $147.5 million
- 2025 diluted GAAP EPS of $3.58, diluted non-GAAP EPS(1) of $4.01
- 2025 net income of $329.9 million, adjusted EBITDA(1) of $574.3 million
- 2025 operating cash flow of $479.8 million, free cash flow(1) of $295.3 million
- Ended 2025 with backlog of $7.3 billion, up 50% year-over-year, driven by large multi-year naval propulsion, special materials, and commercial nuclear power awards
- Initiates 2026 guidance for non-GAAP EPS of $4.55-$4.70, adjusted EBITDA(1) of $645 million-$660 million, and free cash flow(1) of $305 million-$320 million
LYNCHBURG, Va.–(BUSINESS WIRE)–Feb. 23, 2026– BWX Technologies, Inc. (NYSE: BWXT) (“BWXT”, “we”, “us” or the “Company”) reported fourth quarter and full year 2025 results. A reconciliation of non-GAAP results is detailed in Exhibit 1.
“We delivered a strong fourth quarter, and a record year for BWXT,” said Rex D. Geveden, president and chief executive officer. “In our tenth year as a standalone public company, 2025 was monumental for BWXT as we expanded our service and product offerings with two acquisitions and captured significant high-value awards across both Government and Commercial segments, driving 50% backlog growth.”
“BWXT operates at the intersection of national security and commercial nuclear power markets, where demand for both remains exceptionally strong,” continued Geveden. “Our strategy goes beyond capturing new awards; we are strengthening our competitive position through operational excellence and targeted investments to continue to expand our industrial scale and technical capabilities enabling our ability to deliver on our customers’ most critical missions.”
“In 2026, we expect to further build on the momentum of the last several years,” said Geveden. “We are initiating guidance that calls for robust growth across all key financial metrics including $4.55-$4.70 of non-GAAP EPS, $645-$660 million of adjusted EBITDA and $305-$320 million of free cash flow.”