Company: BWXT
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001486957-25-000026
Chunk: 85

Company: BWX Technologies, Inc.
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 2
Chunk 85
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, or 14.0%, to $555.3 million in the three months ended March 31, 2025 compared to $487.1 million for the corresponding period of 2024. The increase was primarily driven by the timing of long-lead material procurements of $62.5 million and the acquisition of A.O.T. during the quarter ended March 31, 2025 which increased revenues by $6.3 million. These increases were partially offset by a decrease in revenues associated with our advanced technologies business.

Operating income increased $12.1 million to $97.7 million in the three months ended March 31, 2025 compared to $85.7 million for the corresponding period of 2024, primarily driven by the operating income impact of the changes in revenues noted above.

Commercial Operations

 Three Months EndedMarch 31,  20252024$ Change (In thousands)Revenues$128,310 $117,038 $11,272 Operating Income$6,466 $8,591 $(2,125)% of Revenues5.0%7.3%

Three months ended March 31, 2025 vs. 2024

Revenues increased 9.6%, or $11.3 million, to $128.3 million in the three months ended March 31, 2025 compared to $117.0 million for the corresponding period of 2024. The increase was primarily related to higher revenues in nuclear components manufacturing of $26.3 million which was partially offset by a $16.2 million decrease in revenues related to on-site inspection, maintenance and refurbishment work when compared to the corresponding period in the prior year.

Operating income decreased $2.1 million to $6.5 million in the three months ended March 31, 2025 compared to $8.6 million for the corresponding period of 2024. The decrease was primarily related to an unfavorable shift in our product mix as well as a $2.6 million increase in expenses associated with merger and acquisition and restructuring-related activities when compared to the corresponding period of the prior year.

Unallocated Corporate

Unallocated corporate expenses increased $6.3 million in the three months ended March 31, 2025 compared to the corresponding period of 2024. The increase was due to higher healthcare costs of $3.2 million related to the timing of claims in addition to an increase in legal and consulting costs associated with merger and acquisition related activities of