Bwx Technologies, Inc. · NYSE:BWXT
Bwx Technologies — Q3 2024 Earnings Presentation
15 slides from Bwx Technologies's earnings presentation, Nov 4, 2024
Slide 1: Third-Quarter 2024 Earnings Call Presentation
Our Purpose: We employ nuclear technology to solve some of the world’s most important problems Our Mission: We provide safe and effective nuclear solutions for global security, clean Third-Quarter 2024 Earnings Call energy, environmental remediation, nuclear medicine, and space exploration Presentat
Slide 2: Forward-Looking Statements Disclaimer
Forward-Looking Statements Disclaimer BWX Technologies, Inc. (“BWXT”) cautions that statements in this presentation that are forward-looking and provide other than historical information involve risks and uncertainties that may impact actual results and any future performance suggested in the forwar
Slide 3: Third Quarter 2024 and Outlook Highlights
Third Quarter 2024 and Outlook Highlights o 3Q24 Y/Y financial performance ‒ Revenue up 14%, driven by solid organic revenue growth in Government Operations and Commercial Operations ‒ Adjusted EBITDA(1) up 19% and Non-GAAP EPS(1) up 24%, driven by revenue growth, strong Government Operations margin
Slide 4: Acquisition of A.O.T Expands Special Materials Portfolio
Acquisition of A.O.T Expands Special Materials Portfolio(1) A.O.T. Overview Acquisition of A.O.T. fits well within BWXT’s M&A framework Our Purpose: o Sole provider of depleted uranium to the U.S. We employ nuclear Alignedtechnology with core competencies in core markets: Government; leading provide
Slide 5: 3Q24 financial summary
3Q24 financial summary ($million, except per share amounts) Net income & Revenue adj. EBITDA(1) / margin Net 672 60 70 14% Our Purpose: 127 income We employonuclear technology 3Q24 revenue up 14% driven by higher revenue in 590 to solve some of the world’s most important 19% Government Operations an
Slide 6: 3Q23 to 3Q24 non-GAAP EPS bridge
3Q23 to 3Q24 non-GAAP(1) EPS bridge ($ per diluted share) Our Purpose: (0.01) 0.16 We employ nuclear 0.02 technology (0.01) 0.83 to solve some of the world’s most important problems Our Mission: We provide safe and effective 0.67 nuclear solutions for global security,items Non-operational clean - Lo
Slide 7: 3Q24 segment summary
3Q24 segment summary Government Operations Commercial Operations ($million) 560 Our Purpose: 17% We employ nuclear technology 3Q24 revenue up 17% from 112 113 3Q24 revenue up 1% driven 478 to solve some of the higher volume of naval nuclear world’s most important 1% by continued robust Medical Reven
Slide 8: Raising Low-End of 2024 Guidance
Raising Low-End of 2024 Guidance BWXT consolidated guidance Other information (vs. 2023) o Revenue Revenue ~$2.7B ‒ ‒ Government Operations: up mid single digits Commercial Operations: up high-single to low-double digits Up mid-single digits o Adj. EBITDA(1) (vs >$2.6B) ‒ Government Operations Margi
Slide 9: 2023 to 2024 non-GAAP EPS bridge
2023 to 2024 non-GAAP(1,2) EPS bridge ($ per diluted share) Our Purpose: We employ nuclear technology Mid-single digit adj. ~3.20 to solve some of the world’s EBITDA(1) growth ~0.13 most ~0.05 important ~0.01 vs. 0.00 previously vs. $3.10-$3.20 previously ~(0.02) vs. 0.03-0.04 previously problems vs
Slide 10: Preliminary 2025 Outlook: Mid-to-High Single Digit Earnings Growth
Preliminary 2025 Outlook: Mid-to-High Single Digit Earnings Growth 2024 Guidance Preliminary 2025 Outlook(2) Our Purpose: We employ nuclear technology o Mid-to-high single digit revenue growth to solve some of the world’s most o GO growth: important mid-single-digits including low-single-digit organ
Slide 11: 2024 to 2025 non-GAAP EPS bridge
2024 to 2025 non-GAAP(1,2,3) EPS bridge ($ per diluted share) Mid-to-high single digit ~$15M Our Purpose: We employ nuclear technology adj. EBITDA(1) growth D&A headwind Mid-to-High single digit Non-GAAP EPS growth to solve some of the world’s most important ~3.20 problems Our Mission: We provide sa
Slide 12: Appendix: Non-GAAP reconciliations
Appendix Non-GAAP reconciliations
Slide 13: Non-GAAP definitions
Non-GAAP definitions Non-GAAP figures exclude any mark-to-market adjustment for pension and postretirement benefits Our recognized and other Purpose: one-time items. We employ nuclear technology to solve some of the world’s most important problems Other non-GAAP definitions and calculations Non-GAAP
Slide 14: 3Q 2024 non-GAAP reconciliations
3Q 2024 non-GAAP reconciliations BWX TECHNOLOGIES, INC. RECONCILIATION OF NON-GAAP OPERATING INCOME AND EARNINGS PER SHARE(1)(2)(3) (In millions, except per share amounts) Three Months Ended September 30, 2024 RECONCILIATION OF REPORTING SEGMENT ADJUSTED EBITDA(1)(2)(3) Restructuring & (In millions)
Slide 15: 3Q 2023 non-GAAP reconciliations
3Q 2023 non-GAAP reconciliations BWX TECHNOLOGIES, INC. RECONCILIATION OF NON-GAAP OPERATING INCOME AND EARNINGS PER SHARE(1)(2)(3) (In millions, except per share amounts) RECONCILIATION OF REPORTING SEGMENT ADJUSTED EBITDA(1)(2)(3) (In millions) Three Months Ended September 30, 2023 Restructuring &