NEWS RELEASE

BWX Technologies Announces Third Quarter 2015 Results

- GAAP EPS of $0.98 ($0.38 in Prior Year Period), Adjusted EPS of $0.40 ($0.30 in Prior Year Period)

- Growth in Revenue and Operating Income Across All Segments Compared to Prior Year Period

- 2015 Adjusted EPS At Higher End of Previous Guidance Range of $1.30 to $1.40

- 2016 Adjusted EPS Guidance of $1.45 to $1.55

- Share Repurchase Activity Accelerating

Lynchburg, VA – November 4, 2015 – BWX Technologies, Inc. (NYSE: BWXT) (“BWXT” or the “Company”) today reported third quarter 2015 revenues of $359.0 million, an increase of $21.6 million, or 6.4%, from the third quarter of 2014. GAAP earnings per share from continuing operations for the third quarter of 2015 were $0.98 compared to $0.38 in the third quarter of 2014. Adjusted (Non-GAAP) earnings per share from continuing operations, which excludes a $0.58 per share impact of income related to proceeds from a legal judgment, was $0.40 compared to $0.30 in the third quarter of 2014. Unless stated otherwise, the results of operations discussed in this release are on a continuing operations basis and exclude the results of operations from our former Power Generation business, which are included as part of discontinued operations in the attached financial statements.

“In our first quarter as a standalone company we were able to build on the successes of the first half of the year and deliver another solid quarter. Improved third quarter revenue and operating income demonstrates management’s commitment to execution,” said Mr. John A. Fees, Executive Chairman. “Our Nuclear Operations segment continued to provide strong results in the third quarter. In addition, the Nuclear Energy segment delivered impressive revenue and operating income growth as work began on the China steam generator project and the segment continues to improve its margin. As we approach the end of the year, we are well positioned for strong results heading into 2016.”

Results of Operations

The Company’s consolidated revenues for the third quarter of 2015 were $359.0 million, an increase of 6.4%, compared to $337.4 million for the third quarter of 2014. Revenue was up in each segment of our business. The Nuclear Operations segment revenues reached record third quarter levels, increasing to $303.3 million in the third quarter of 2015 from $297.5 million in the same quarter in 2014, primarily due to increased manufacturing volume as well as growth in our Nuclear Fuel Services business. Revenues from the Nuclear Energy segment were $34.9 million compared to $21.5 million in the prior year period due to growth in its services business as well as initiating work on the China steam generator project, which was booked during the second quarter of 2015. The Technical Services segment revenues reached $21.3 million in the third quarter of 2015 compared to $20.2 million in the same quarter in 2014, an increase of 5.4%.

GAAP operating income for the third quarter was $131.0 million, an increase of $96.3 million compared to $34.7 million in the same period of 2014. In addition to the increase in each of our segments’ operating income, the increase in consolidated GAAP operating income is also attributable to $65.7 million of operating income related to proceeds from a legal judgment in

litigation with one of our insurers. Operating income in the Nuclear Operations segment increased slightly with $62.7 million in the period compared to $61.9 million in the prior year period. Our Nuclear Energy segment reported operating income of $1.4 million in the period compared to a loss of $6.7 million in the prior year period as the segment saw growth in its services business and began work on the China steam generator project. Our Technical Services segment operating income increased $3.4 million to $8.3 million, primarily due to improved fees associated with achieving performance milestones at one of our sites as well as favorable billing rate adjustments compared to the prior year period.

The effective tax rate for the third quarter of 2015 was 32.6%, which includes the benefit of $4.9 million of discrete items due to the remeasurement of uncertain tax positions as a result of the close of a previously ongoing IRS audit as well as adjustments related to the filing of our 2014 federal income tax return.

Excluding the income from the litigation proceeds, adjusted operating income for the third quarter of 2015 was $65.2 million, or an increase of 31.2% compared to adjusted operating income of

$49.7 million in the third quarter of 2014. The improved adjusted operating income was driven by growth and margin improvement in the Nuclear Energy segment, improved performance in the Technical Services segment, reduced corporate costs and reduced mPower spending.

“We are pleased with the results we’ve made across our different businesses during this period,” said Mr. Fees. “In addition to the solid results in all of our segments, we were able to return capital to our shareholders by resuming execution of our current share repurchase authorization following the recent spin-off of our former Power Generation business. As we move toward the end of the year, we are committed to increasing our share buyback activity and will continue to manage our capital allocation in order to best drive value for our shareholders. Additionally, we are making progress on our previously announced objectives. The Nuclear Energy segment is on track with our expectations for the recovery of that business and the Technical Services segment posted solid results this quarter as we continue to be optimistic about the segment’s long-term growth opportunities. New Chief Operating Officer Rex Geveden will focus our improvement efforts in the Nuclear Energy and Technical Services segments as well as bring a fresh perspective to our Nuclear Operations segment as we continue to execute on our strategic priorities.”

Liquidity and Debt

The Company generated consolidated cash flows from operations of $155.6 million in the third quarter of 2015 compared with $22.5 million, inclusive of cash flows of our former Power Generation business, in the third quarter of 2014, driven primarily by proceeds from a legal judgment and improvements in project cash flows. At the end of the third quarter, the Company’s cash and investments position, net of restricted cash, was $144.5 million.

As of September 30, 2015, outstanding balances under our credit facility included a $300 million term loan and letters of credit issued under the facility totaling $69.9 million, resulting in $530.1 million of availability under our credit facility, which excludes the additional $250 million accordion provision available to us for term loan, revolving credit borrowings and letter of credit commitments.

Share Repurchases

During the third quarter of 2015, the Company repurchased 0.7 million shares of its common stock at a total cost of $18 million. We plan to accelerate our share repurchase activity starting in the fourth quarter of 2015 utilizing existing repurchase authorizations that will expire by February 25, 2016. On October 30, 2015, our Board of Directors approved a new $300 million repurchase authorization for a two-year period beginning February 26, 2016.

Quarterly Dividend

On October 30, 2015, our Board of Directors declared a quarterly cash dividend of $0.06 per common share. The dividend will be payable on December 16, 2015 to shareholders of record on November 20, 2015.

Outlook

Guidance provided for 2015 remains largely unchanged at the segment level. The Company still expects that revenue from Nuclear Operations will be consistent with levels achieved in the last two years and expects an operatin>>g margin in the high teens for the remainder of the year, with some potential for upside. We expect the adjusted earnings per share for 2015 to be at the higher end of our 2015 guidance range of $1.30 to $1.40. Adjusted earnings per share exclude mark-to- market adjustments for pension and post-retirement benefits, restructuring and spin costs, litigation proceeds, and one-time tax charges.

For the full year 2016, the Company expects to achieve consolidated revenues between $1.40 and

$1.45 billion. Adjusted earnings per share for 2016 are expected to be between $1.45 and $1.55, which excludes mark-to-market adjustments for pension and post-retirement benefits. The Company also expects the following for 2016:

• Nuclear Operations revenues consistent with levels achieved in the last three years and expected operating margin in the high teens with some potential for upside
• Technical Services operating profit in the range of $15 to $20 million, mostly from equity income
• Nuclear Energy revenues in the $160 to $190 million range with the full year operating margin around 10%, achieved by year end
• mPower spending capped at or below $15 million while management continues to evaluate options
• Corporate unallocated spend of $15 to $20 million
• Effective tax rate for 2016 is expected to be in the range of 34% to 36%
• An increase in the organic capital expenditures range to be between $55 and $60 million in order to support the Ohio Replacement Class work
• Depreciation and amortization of $40 to $45 million

Conference Call to Discuss Third Quarter 2015 Results

Date: Thursday, November 5, 2015, at 8:30 a.m. EST

Live Webcast: Investor Relations section of website atwww.bwxt.com

Forward-Looking Statements

BWXT cautions that this release contains forward-looking statements, including, without limitation, statements relating to 2015 results; management’s plans and expectations regarding our share repurchase activity, capital allocation and opportunities in our segments, as well as outlook and guidance for 2015 and 2016. These forward-looking statements are based on management’s current expectations and involve a number of risks and uncertainties, including, among other things, adverse changes in Federal appropriations to government programs in which we participate; our ability to obtain new contract awards; adverse changes in the industries in which we operate and delays, changes or termination of contracts in backlog. If one or more of these risks or other risks materialize, actual results may vary materially from those expressed. For a more complete discussion of these and other risk factors, see BWXT’s filings with the Securities and Exchange Commission, including our annual report on Form 10-K for the year ended December 31, 2014 and subsequent quarterly reports on Form 10-Q. BWXT cautions not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and undertakes no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.

About BWXT

BWX Technologies, Inc. is a leading supplier of nuclear components and fuel to the U.S. government; provides technical, management and site services to support governments in the operation of complex facilities and environmental remediation activities; and supplies precision manufactured components and services for the commercial nuclear power industry. BWXT has approximately 5,300 employees and significant operations in Lynchburg, Va.; Erwin, Tenn.; Mount Vernon, Ind.; Euclid, Ohio; Barberton, Ohio; and Cambridge, Ontario, as well as more than a dozen U.S. Department of Energy sites around the country. A company overview presentation, which will be presented at investor conferences and meetings throughout this quarter, is available on the Investor Relations section of our website. For additional information please visit our website at www.bwxt.com.

Investor Contact: Media Contact:

Alan Nethery Jud Simmons

Vice President, Investor Relations Communications Director

980-365-4300 Investors@bwxt.com 434-522-6462 hjsimmons@bwxt.com

EXHIBIT 1

BWX TECHNOLOGIES, INC.

RECONCILIATION OF NON-GAAP OPERATING INCOME AND EARNINGS PER SHARE(1)(2)

Three Months Ended September 30, 2015

Operating Income

Other Income / (Expense) Income Tax (Expense) / Benefit Net Income (Loss)

Net Loss Attributable to Non-

Controlling Interest

Net Income (Loss) Attributable to BWXT

Diluted Shares Outstanding

Diluted Earnings per Common Share

Tax Rate

Three Months Ended September 30, 2014

Operating Income

Other Income / (Expense) Income Tax (Expense) / Benefit Net Income (Loss)

Net Loss Attributable to Non-

Controlling Interest

Net Income (Loss) Attributable to BWXT

Diluted Shares Outstanding

Diluted Earnings per Common Share

Tax Rate

1. May not foot due to rounding.
2. BWXT is providing non-GAAP information regarding certain of its historical results and guidance on future earnings per share to supplement the results provided in accordance with GAAP and it should not be considered superior to, or as a substitute for, the comparable GAAP measures. BWXT believes the non-GAAP measures provide meaningful insight into the Company’s operational performance and provides these measures to investors to help facilitate comparisons of operating results with prior periods and to assist them in understanding BWXT’s ongoing operations.

EXHIBIT 1 (continued)

BWX TECHNOLOGIES, INC.

RECONCILIATION OF NON-GAAP OPERATING INCOME AND EARNINGS PER SHARE(1)(2)

Nine Months Ended September 30, 2015

Operating Income

Other Income / (Expense) Income Tax (Expense) / Benefit

Net Income (Loss)

Net Loss Attributable to Non- Controlling Interest

Net Income (Loss) Attributable to BWXT

Diluted Shares Outstanding Diluted Earnings per Common Share

Tax Rate

Nine Months Ended September 30, 2014

Operating Income

Other Income / (Expense) Income Tax (Expense) / Benefit

Net Income (Loss)

Net Loss Attributable to Non- Controlling Interest

Net Income (Loss) Attributable to BWXT

Diluted Shares Outstanding Diluted Earnings per Common Share

Tax Rate

BWX TECHNOLOGIES, INC.

BWX TECHNOLOGIES, INC.

1. May not foot due to rounding.

2. BWXT is providing non-GAAP information regarding certain of its historical results and guidance on future earnings per share to supplement the results provided in accordance with GAAP and it should not be considered superior to, or as a substitute for, the comparable GAAP measures. BWXT believes the non-GAAP measures provide meaningful insight into the Company’s operational performance and provides these measures to investors to help facilitate comparisons of operating results with prior periods and to assist them in understanding BWXT’s ongoing operations.

3. Amount relates to the first quarter of 2014.

CONDENSED CONSOLIDATED BALANCE SHEETS ASSETS

September 30, December 31,

2015 2014

(Unaudited) (In thousands)

Current Assets:

CONDENSED CONSOLIDATED BALANCE SHEETS LIABILITIES AND STOCKHOLDERS’ EQUITY

September 30, December 31,

2015 2014

(Unaudited)

(In thousands, except share and per share amounts)

Current Liabilities:

Common stock, par value $0.01 per share, authorized 325,000,000 shares; issued 122,611,572 and 121,604,332 shares at September 30, 2015 and

December 31, 2014, respectively 1,226 1,216 Preferred stock, par value $0.01 per share, authorized 75,000,000 shares;

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

Three Months Ended Nine Months Ended September 30, September 30,

2015 2014 2015 2014

(Unaudited)

(In thousands, except share and per share amounts)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

Nine Months Ended September 30,

2015 2014

(Unaudited)

CASH FLOWS FROM OPERATING ACTIVITIES:

(In thousands)

SCHEDULE OF NON-CASH INVESTING ACTIVITY:

Accrued capital expenditures included in accounts payable $ 2,161 $ 3,201

(1) Nuclear Energy’s bookings are net of unfavorable currency translation adjustments affecting backlog in the third quarter, totaling $27.9 million.