Company: BWXT
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001486957-25-000059
Chunk: 87

Company: BWX Technologies, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 8
Chunk 87
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 the A.O.T. acquisition.

Nine months ended September 30, 2025 vs. 2024

Revenues increased $172.9 million, or 10.9%, to $1,760.9 million in the nine months ended September 30, 2025 compared to $1,588.0 million for the corresponding period of 2024. The increase was primarily driven by the timing of long-lead material procurements of $115.3 million, increases in uranium processing and downblending operations of $56.7 million and an increase in revenues of $36.3 million associated with the acquisition of A.O.T., which was completed on January 3, 2025. These increases were partially offset by a decrease in revenues associated with our advanced technologies business.

Operating income increased $24.7 million to $304.5 million in the nine months ended September 30, 2025 compared to $279.8 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 EndedSeptember 30, Nine Months EndedSeptember 30,  20252024$ Change20252024$ Change (In thousands)Revenues$250,971 $113,112 $137,859 $555,420 $371,641 $183,779 Operating Income$23,959 $6,728 $17,231 $37,301 $31,947 $5,354 % of Revenues9.5%5.9%6.7%8.6%

Three months ended September 30, 2025 vs. 2024

Revenues increased 121.9%, or $137.9 million, to $251.0 million in the three months ended September 30, 2025 compared to $113.1 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 $94.6 million as well as an increase in revenues related to components manufacturing of $20.6 million when compared to the corresponding period in the prior year.

Operating income increased $17.2 million to $24.0 million in the three months ended September 30, 2025 compared to $6.7 million for the corresponding period of 2024. The increase was primarily