Company: BWXT
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001486957-25-000059
Chunk: 86

Company: BWX Technologies, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 8
Chunk 86
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 to $2,312.6 million in the nine months ended September 30, 2025 compared to $1,957.4 million for the corresponding period of 2024, due to increases in our Government Operations and Commercial Operations segments of $172.9 million and $183.8 million, respectively.

Consolidated operating income increased $24.1 million to $312.4 million in the nine months ended September 30, 2025 compared to $288.3 million for the corresponding period of 2024. Operating income in our Government Operations and Commercial Operations segments increased $24.7 million and 5.4 million, respectively, when compared to the corresponding period in the prior year. These increases were partially offset by an increase in Unallocated Corporate expenses of $6.0 million when compared to the corresponding period in the prior year.

Government Operations

 Three Months EndedSeptember 30, Nine Months EndedSeptember 30,  20252024$ Change20252024$ Change (In thousands)Revenues$616,697 $560,073 $56,624 $1,760,943 $1,588,040 $172,903 Operating Income$97,371 $101,609 $(4,238)$304,536 $279,815 $24,721 % of Revenues15.8%18.1%17.3%17.6%

Three months ended September 30, 2025 vs. 2024

Revenues increased $56.6 million, or 10.1%, to $616.7 million in the three months ended September 30, 2025 compared to $560.1 million for the corresponding period of 2024. The increase was primarily driven by the timing of long-lead material procurements of $53.3 million, increases in uranium processing and downblending operations of $12.2 million and an increase in revenues of $16.7 million associated with the acquisition of A.O.T., which was completed on January 3, 2025. These increases were partially offset by a decrease in revenues associated with our advanced technologies business.

Operating income decreased $4.2 million to $97.4 million in the three months ended September 30, 2025 compared to $101.6 million for the corresponding period of 2024. The operating income impact of the changes in revenues noted above were more than offset by expenses associated with the integration of