Company: BWXT
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001486957-25-000052
Chunk: 100

Company: BWX Technologies, Inc.
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 2
Chunk 100
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 contract had a material impact on our consolidated financial statements.

Contracts may be modified at the request of our customer or initiated by us to amend all or part of an existing contract, including contract type. Depending on the nature of the modification, we consider whether to account for the modification as an adjustment to the existing contract or as a separate contract. Modifications to our contracts are generally accounted for as if they were part of the existing contract as these modifications are not distinct from the existing contract and accounted for as a cumulative adjustment to revenue.

Results of Operations – Three and Six Months Ended June 30, 2025 vs. Three and Six Months Ended June 30, 2024

Selected financial highlights are presented in the table below:

 Three Months EndedJune 30, Six Months EndedJune 30,  20252024$ Change20252024$ Change (In thousands)REVENUES:Government Operations$588,959 $540,846 $48,113 $1,144,246 $1,027,967 $116,279 Commercial Operations176,139 141,491 34,648 304,449 258,529 45,920 Eliminations(1,059)(872)(187)(2,398)(1,065)(1,333)$764,039 $681,465 $82,574 $1,446,297 $1,285,431 $160,866 OPERATING INCOME:Government Operations$109,417 $92,520 $16,897 $207,163 $178,206 $28,957 Commercial Operations6,877 16,628 (9,751)13,342 25,219 (11,877)$116,294 $109,148 $7,146 $220,505 $203,425 $17,080 Unallocated Corporate(13,870)(10,342)(3,528)(21,451)(11,658)(9,793)Total Operating Income$102,424 $98,806 $3,618 $199,054 $191,767 $7,287 

Consolidated Results of Operations

Three months ended June 30, 2025 vs. 2024

Consolidated revenues increased 12.1%, or $82.6 million, to $764.0 million in the three months ended June 30,