BWX Technologies Reports Fourth Quarter and Full-Year 2021 Results
22 February 2022
- Generates 4Q21 EPS of $1.26 (GAAP), $0.95 (non-GAAP); up 83% and 28%, respectively vs. 4Q20
- Reports 2021 EPS of $3.24 (GAAP), $3.06 (non-GAAP); up 11% and 1%, respectively vs. 2020
- Produces 4Q21 adjusted EBITDA of $123 million, full-year 2021 adjusted EBITDA of $418 million
- Announces consolidation of three reporting business segments into two: Government Operations and Commercial Operations
- Reiterates 2022 non-GAAP EPS outlook and provides additional 2022 guidance including:
- Consolidated revenue and adjusted EBITDA growth of 3% to 4%
- Non-GAAP EPS range of $3.05 to $3.25
- Cash from operations of $260 million to $290 million
LYNCHBURG, Va.--(BUSINESS WIRE)-- BWX Technologies, Inc. (NYSE: BWXT) ("BWXT", "we", "us" or the "Company") reported fourth quarter 2021 revenue of $592 million, a 6% increase compared with $557 million in the fourth quarter 2020. GAAP net income for the fourth quarter 2021 was $117 million, or $1.26 per diluted share, compared with GAAP net income of $65.7 million, or $0.69 per diluted share, in the prior-year period. Non-GAAP net income for the fourth quarter 2021 was $88.2 million, or $0.95 per diluted share, compared with non-GAAP net income of $70.9 million, or $0.74 per diluted share, in the prior-year period.