BWX Technologies Reports First Quarter 2021 Results and Commences New Multi-Year Guidance Framework
03 May 2021
Highlights:
- Generates 1Q21 earnings of $0.73 per share on consolidated revenue of $528 million
- Reports robust backlog of nearly $5.2 billion driven by Naval Reactors bookings and other wins
- Reiterates 2021 guidance: non-GAAP earnings range of $3.05 to $3.20 per share
- Initiates new $500 million share repurchase authorization
- Commences new multi-year guidance framework for growth, free cash flow and capital allocation
BWX Technologies, Inc. (NYSE: BWXT) ("BWXT", "we", "us" or the "Company") reported first quarter 2021 revenue of $528 million, a 2.6% decrease compared with $542 million in the first quarter 2020. Net income for the first quarter 2021 was $69.7 million, or $0.73 per diluted share, compared with GAAP net income of $75.5 million, or $0.79 per diluted share and nonGAAP net income of $75.6 million, or $0.79 per diluted share, in the prior-year period.