Mon, May 5, 8:42 PM (17 days ago)
**BWX Technologies, Inc. (BWXT, Ticker: BWXT) Q1 2025 Financial Summary** **Financial Health & Performance:** - **Revenue:** $682.3M (up 13% YoY from $604.0M) - **Net Income:** $75.5M (up 10.2% YoY from $68.5M) - **EPS:** $0.82 (up 8% YoY from $0.75) - **Operating Income:** $96.6M (up 3.9% YoY from $92.9M) - **Operating Margin:** 14.2% (down from 15.4% YoY) - **Effective Tax Rate:** 17.7% (down from 22.5% YoY) - **Cash Flow from Operations:** $50.7M (up 53.6% YoY from $33.0M) **Segment Performance:** - **Government Operations:** Revenue up 14% to $555.3M, Operating Income up 14.1% to $97.7M - **Commercial Operations:** Revenue up 9.6% to $128.3M, Operating Income down 24.8% to $6.5M **Trends & Uncertainties:** - **Acquisitions:** Completed acquisition of Aerojet Ordnance Tennessee, Inc. (A.O.T.) for $103.3M. Pending acquisition of Kinectrics Inc. for CAD 782.7M. - **Backlog:** $4.9B (up from $4.8B YoY), with 61% expected to be recognized by end of 2026. - **Cash & Investments:** $70.5M in cash & cash equivalents, $8.5M in long-term investments. - **Debt:** $1.3B in long-term debt, with $578.6M available under the Revolving Credit Facility. **Future Operations Impact:** - **Growth Strategies:** Exploring growth opportunities across segments, potentially funded by cash from operations or additional capital. - **Acquisitions:** Pending Kinectrics acquisition expected to close mid-2025, enhancing Commercial Operations. - **Cash Requirements:** Sufficient cash, borrowing capacity, and access to capital markets to meet next 12 months' needs. **Notable Changes:** - **Effective Tax Rate:** Lower due to excess tax benefits from equity compensation. - **Operating Margin:** Decline due to increased costs and expenses, partially offset by revenue growth. - **Cash Flow:** Significant increase due to timing of project cash flows and improved operational efficiency.