Company: BWXT
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001486957-25-000059
Chunk: 44

Company: BWX Technologies, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 44
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 adjustments to any one 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 Nine Months Ended September 30, 2025 vs. Three and Nine Months Ended September 30, 2024

Selected financial highlights are presented in the table below:

 Three Months EndedSeptember 30, Nine Months EndedSeptember 30,  20252024$ Change20252024$ Change (In thousands)REVENUES:Government Operations$616,697 $560,073 $56,624 $1,760,943 $1,588,040 $172,903 Commercial Operations250,971 113,112 137,859 555,420 371,641 183,779 Eliminations(1,382)(1,229)(153)(3,780)(2,294)(1,486)$866,286 $671,956 $194,330 $2,312,583 $1,957,387 $355,196 OPERATING INCOME:Government Operations$97,371 $101,609 $(4,238)$304,536 $279,815 $24,721 Commercial Operations23,959 6,728 17,231 37,301 31,947 5,354 $121,330 $108,337 $12,993 $341,837 $311,762 $30,075 Unallocated Corporate(7,981)(11,759)3,778 (29,434)(23,417)(6,017)Total Operating Income$113,349 $96,578 $16,771 $312,403 $288,345 $24,058 

Consolidated Results of Operations

Three months ended September 30, 2025 vs. 2024

Consolidated revenues increased 28.9%, or $194.3 million, to $866.3 million in the three months ended