Company: BWXT
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001486957-25-000026
Chunk: 84

Company: BWX Technologies, Inc.
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 2
Chunk 84
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 and accounted for as a cumulative adjustment to revenue.

Results of Operations – Three Months Ended March 31, 2025 vs. Three Months Ended March 31, 2024

Selected financial highlights are presented in the table below:

 Three Months EndedMarch 31,  20252024$ Change (In thousands)REVENUES:Government Operations$555,286 $487,121 $68,165 Commercial Operations128,310 117,038 11,272 Eliminations(1,338)(193)(1,145)$682,258 $603,966 $78,292 OPERATING INCOME:Government Operations$97,746 $85,686 $12,060 Commercial Operations6,466 8,591 (2,125)$104,212 $94,277 $9,935 Unallocated Corporate(7,582)(1,316)(6,266)Total Operating Income$96,630 $92,961 $3,669 

Consolidated Results of Operations

Three months ended March 31, 2025 vs. 2024

Consolidated revenues increased 13.0%, or $78.3 million, to $682.3 million in the three months ended March 31, 2025 compared to $604.0 million for the corresponding period of 2024, due to increases in our Government Operations and Commercial Operations segments of $68.2 million and $11.3 million, respectively.

Consolidated operating income increased $3.7 million to $96.6 million in the three months ended March 31, 2025 compared to $93.0 million for the corresponding period of 2024. Operating income in our Government Operations segment increased $12.1 million which was partially offset by a decrease in operating income in our Commercial Operations segment of $2.1 million and an increase in Unallocated Corporate expenses of $6.3 million when compared to the corresponding period in the prior year.

22

Government Operations

 Three Months EndedMarch 31,  20252024$ Change (In thousands)Revenues$555,286 $487,121 $68,165 Operating Income$97,746 $85,686 $12,060 % of Revenues17.6%17.6%

Three months ended March 31, 2025 vs. 2024

Revenues increased $68.2 million