Company: BWXT
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001486957-25-000059
Chunk: 88

Company: BWX Technologies, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 8
Chunk 88
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 related to the operating income impact of the changes in revenues noted above as well as a favorable shift in our product mix when compared to the corresponding period of the prior year. These increases were partially offset by a $2.7 million increase in expenses associated with the Kinectrics acquisition and restructuring-related activities.

Nine months ended September 30, 2025 vs. 2024

Revenues increased 49.5%, or $183.8 million to $555.4 million in the nine months ended September 30, 2025 compared to $371.6 million for the corresponding period of 2024. The increase was primarily related to the acquisition of Kinectrics, completed on May 20, 2025, which resulted in an increase in revenues of $133.6 million as well as an increase in revenues related to components manufacturing of $67.4 million. These increases were partially offset by a $30.5 million decrease in revenues related to on-site inspection, maintenance, modification and refurbishment work when compared to the corresponding period in the prior year.

Operating income increased $5.4 million to $37.3 million in the nine months ended September 30, 2025 compared to $31.9 million for the corresponding period of 2024. The increase was primarily related to the operating income impact of the changes in revenues noted above which was partially offset by a $7.5 million increase in expenses associated with the Kinectrics acquisition and restructuring-related activities.

Unallocated Corporate

Three months ended September 30, 2025 vs. 2024

Unallocated corporate expenses decreased $3.8 million in the three months ended September 30, 2025 compared to the corresponding period of 2024. The decrease was primarily related to a reduction in expenditures related to the transformation of our information technology infrastructure of $1.3 million as well as a decrease in legal and consulting costs associated with merger and acquisition related activities of $0.9 million when compared to the corresponding period of the prior year. We also experienced a reduction in healthcare costs due to the timing of claims when compared to the prior year.

Nine months ended September 30, 2025 vs. 2024

Unallocated corporate expenses increased $6.0 million in the nine months ended September 30, 2025 compared to the corresponding period of 2024. The increase was due to higher healthcare costs of $2.9 million related to the timing of claims in addition to an increase in legal and consulting costs associated with