Company: BWXT
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001486957-25-000052
Chunk: 75

Company: BWX Technologies, Inc.
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 8
Chunk 75
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 76% of our Commercial Operations segment revenues, respectively.Evaluation of segment performance:Our Chief Operating Decision Maker ("CODM") measures the performance of each segment based on several metrics, including revenue and operating income and uses these results, in part, to evaluate the performance of and to allocate resources to each segment. Our CODM does not use assets by segment to evaluate segment performance or allocate resources. Consequently, we do not disclose assets by segment.

NOTE 9 – EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted earnings per share:Three Months EndedJune 30,Six Months EndedJune 30, 2025202420252024 (In thousands, except share and per share amounts)Basic:Net Income Attributable to BWX Technologies, Inc.$78,388 $72,972 $153,850 $141,440 Weighted-average common shares91,542,967 91,564,263 91,568,526 91,559,824 Basic earnings per common share$0.86 $0.80 $1.68 $1.54 Diluted:Net Income Attributable to BWX Technologies, Inc.$78,388 $72,972 $153,850 $141,440 Weighted-average common shares (basic)91,542,967 91,564,263 91,568,526 91,559,824 Effect of dilutive securities:Stock options, restricted stock units and performance shares (1)159,736 237,276 219,678 271,408 Adjusted weighted-average common shares91,702,703 91,801,539 91,788,204 91,831,232 Diluted earnings per common share$0.85 $0.79 $1.68 $1.54 (1)At June 30, 2025 and 2024, we excluded 520,328 and 140,335 shares, respectively, from our diluted share calculation as their effect would have been antidilutive.

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Item 2.    MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following information should be read in conjunction with the unaudited condensed consolidated financial statements and the notes thereto included in Item 1 in Part I of this quarterly report on Form 10-Q ("Report"), as