Company: BWXT
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001486957-25-000059
Chunk: 31

Company: BWX Technologies, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 31
---
 Revenues by contract type were as follows: Three Months Ended September 30, 2025Three Months Ended September 30, 2024Government OperationsCommercial OperationsTotalGovernment OperationsCommercial OperationsTotal (In thousands)Fixed-Price Incentive Fee$239,901 $505 $240,406 $366,234 $2,587 $368,821 Firm-Fixed-Price279,993 147,885 427,878 82,296 72,018 154,314 Cost-Plus Fee96,706 2,159 98,865 108,507 — 108,507 Time-and-Materials97 100,422 100,519 3,036 38,507 41,543 Segment Revenues$616,697 $250,971 867,668 $560,073 $113,112 673,185 Eliminations(1,382)(1,229)Revenues$866,286 $671,956  Nine Months Ended September 30, 2025Nine Months Ended September 30, 2024Government OperationsCommercial OperationsTotalGovernment OperationsCommercial OperationsTotal (In thousands)Fixed-Price Incentive Fee$669,107 $8,350 $677,457 $1,021,222 $13,529 $1,034,751 Firm-Fixed-Price795,008 358,189 1,153,197 258,242 207,730 465,972 Cost-Plus Fee296,602 2,006 298,608 304,305 — 304,305 Time-and-Materials226 186,875 187,101 4,271 150,382 154,653 Segment Revenues$1,760,943 $555,420 2,316,363 $1,588,040 $371,641 1,959,681 Eliminations(3,780)(2,294)Revenues$2,312,583 $1,957,387 

Performance ObligationsAs we progress on our contracts and the underlying performance obligations for which we recognize revenue over time, we refine our estimates of variable consideration and total estimated costs at completion, which impact the overall profitability on our contracts and performance obligations. Changes in these estimates result in the recognition of cumulative catch-up adjustments that impact our revenues and