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BWXT $   $  
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BWX Technologies Reports Fourth-Quarter and Full-Year 2022 Results

23 February 2023
  • 4Q22 diluted GAAP EPS of $0.47, diluted non-GAAP(1) EPS of $0.93, on revenue of $624.2 million
  • 4Q22 net income of $43.0 million, adjusted EBITDA(1) of $130.1 million
  • 2022 diluted GAAP EPS of $2.60, diluted non-GAAP(1) EPS of $3.13, on revenue of $2.23 billion
  • 2022 net income of $238.6 million, adjusted EBITDA(1) of $439.4 million
  • 2022 operating cash flow of $244.7 million, free cash flow(1) of $46.4 million
  • Initiates 2023 guidance in-line with prior outlook commentary
  • Increases quarterly cash dividend to $0.23 per share

Lynchburg, VA - Feb. 23, 2023 - BWX Technologies, Inc. (NYSE: BWXT) ("BWXT", "we", "us" or the "Company") reported fourth-quarter and full-year 2022 results. A reconciliation of non-GAAP results are detailed in Exhibit 1.

“As we expected, BWXT closed out 2022 with solid fourth quarter financial results," said Rex D. Geveden, president and chief executive officer. “We benefited from our balanced and growing portfolio this year as strong performance in Commercial Operations largely offset headwinds in the Government Operations segment owing to a tough labor market. Operating performance outpaced macroeconomic and accounting headwinds, including lower pension income and increasing interest rates, resulting in high-single digit underlying EBITDA and positive earnings per share growth for the year.”

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Press Contacts:

BWX Technologies, Inc.

Jud Simmons 
+1 434.522.3800

BWXT Canada Ltd.  

Monifa Miller
+1 519.242.8071

BWXT Nuclear Energy Canada Inc.

Monifa Miller
+1 519.242.8071

Nuclear Fuel Services, Inc.

Laura Bailey 
+1 423.743.9141