Bwx Technologies, Inc. · NYSE:BWXT
Bwx Technologies — Q1 2026 Earnings Presentation
12 slides from Bwx Technologies's earnings presentation, May 4, 2026
Slide 1: First Quarter 2026 Earnings Call Presentation
First - Quarter 2026 Earnings Call Presentation Reported May 4, 2026 © 2026 BWX Technologies. Inc. All Rights Reserved. The products and services described herein are provided by subsidiaries of BWX Technologies, Inc.
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 forw
Slide 3: First Quarter 2026 and Outlook Highlights
First Quarter 2026 and Outlook Highlights o 1Q26 Y/Y financial performance ‒ Revenue up 26%, driven by robust growth in Commercial, and modest growth in Government; 11% organic growth ‒ Adjusted EBITDA(1) up 14% and Non-GAAP EPS(1) up 22% driven by growth in both segments o 1Q26 Financial, Operation
Slide 4: 1Q26 financial summary
1Q26 financial summary ($million, except per share amounts) Net income & Revenue adj. EBITDA(1) / margin 860 Net 76 91 26% income 148 14% o 1Q26 revenue up 26% from higher revenue in both 130 682 Government and Commercial Operations; organic revenue up 11% 19.0% 17.2% o 1Q26 adj. EBITDA(1) up 14% dr
Slide 5: 1Q25 to 1Q26 non-GAAP EPS Bridge
1Q25 to 1Q26 non- GAAP(1) EPS Bridge 0.03 $1.12 0.07 0.12 (0.02) $0.91 Gov. Ops. revenue Non-operational earnings headwinds - Slightly higher pension and other income offset by FX loss Com. Ops. revenue - Lower interest expense due to balance sheet optimization - More favorable tax rate due to stock
Slide 6: 1Q26 segment summary
1Q26 segment summary Government Operations Commercial Operations ($million) 284 578 121% 555 4% 1Q26 revenue up 4% as higher 1Q26 revenue up 121% (39% special materials processing organically) driven by higher Revenue Revenue revenue and naval reactor revenue associated with growth was partially off
Slide 7: Raising 2026 guidance
Raising 2026 guidance (1) BWXT consolidated guidance Other information (vs. 2025) • Revenue Growth Revenue >$3.75B ‒ Government Operations: low-teens growth driven by double-digit special materials growth and low-single-digit naval propulsion growth (vs ~$3.75B) ‒ Commercial Operations: ~30% growth
Slide 8: 2025-2026 non-GAAP EPS bridge
2025 - 2026 non - GAAP EPS (1,2,3) bridge ($ per diluted share) ~0.30 ~(0.06) ~(0.01) $4.60 - $4.75 0.50 - 0.63 ~(0.13) $4.01 Non-operational items - Slightly higher pension and other income; absence of FX gains Operational Items - Significantly lower interest expense due to balance sheet optimizati
Slide 9: Appendix: Non-GAAP reconciliations
Appendix Non- GAAP reconciliations BWXT Confidential & Proprietary 9 © 2025 2026 BWX Technologies. Inc. All Rights Reserved. The products and services described herein are provided by subsidiaries of BWX Technologies, Inc.
Slide 10: Non-GAAP definitions
Non- GAAP definitions Non-GAAP figures exclude any mark-to-market adjustment for pension and postretirement benefits recognized and other one-time items. Other non-GAAP definitions and calculations Non-GAAP Earnings Per Share (EPS) = GAAP EPS less the non-operational tax effected per share impact of
Slide 11: 1Q 2026 non-GAAP reconciliations
1Q 2026 non - GAAP reconciliations BWX TECHNOLOGIES, INC. RECONCILIATION OF CONSOLIDATED ADJUSTED EBITDA(1)(2)(3)(4) RECONCILIATION OF NON-GAAP OPERATING INCOME AND EARNINGS PER SHARE (1)(2)(3)(4) (In millions) (In millions, except per share amounts) RECONCILIATION OF CONSOLIDATED FREE CASH FLOW(1)(
Slide 12: 1Q 2025 non-GAAP reconciliations
1Q 2025 non - GAAP reconciliations BWX TECHNOLOGIES, INC. RECONCILIATION OF CONSOLIDATED ADJUSTED EBITDA(1)(2)(3)(4) RECONCILIATION OF NON-GAAP OPERATING INCOME AND EARNINGS PER SHARE (1)(2)(3)(4) (In millions) (In millions, except per share amounts) RECONCILIATION OF CONSOLIDATED FREE CASH FLOW(1)(