Company: BWXT
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001486957-25-000059
Chunk: 48

Company: BWX Technologies, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 48
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, 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 merger and acquisition related activities of $2.9 million when compared to the corresponding period in the prior year. We also experienced a $3.5 million increase in restructuring-related expenditures. These increases were partially offset by a decrease in expenditures related to the transformation of our information technology infrastructure of $2.4 million.

Provision for Income Taxes

 Three Months EndedSeptember 30, Nine Months EndedSeptember 30,  20252024$ Change20252024$ Change (In thousands)Income before Provision for Income Taxes$107,568 $90,624 $16,944 $297,144 $270,630 $26,514 Provision for Income Taxes$25,377 $20,983 $4,394 $60,965 $59,410 $1,555 Effective Tax Rate23.6%23.2%20.5%22.0%

We primarily operate in the U.S. and Canada and we recognize our U.S. income tax provision based on the U.S. federal statutory rate of 21%, our Canadian tax provision based on the Canadian local statutory rate of approximately 25%, and other foreign jurisdictions at various enacted rates.

Our effective tax rate for the three months ended September 30, 2025 was 23.6% as compared to 23.2% for the three months ended September 30, 2024. Our effective tax rate for the nine months ended September 30, 2025 was