Slide 1: Second-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 Second-Quarter 2024 Earnings energy, environmental remediation, nuclear medicine, and space exploration Call Presenta
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: Second Quarter 2024 and Outlook Highlights
Second Quarter 2024 and Outlook Highlights o 2Q24 Y/Y financial performance ‒ Revenue up 11%, driven by solid organic revenue growth in Government Operations and Commercial Operations ‒ Adjusted EBITDA(1) up 18%, driven by revenue growth and good margin performance in Government Operations and Comme
Slide 4: 2Q24 financial summary
2Q24 financial summary ($million, except per share amounts) Net income & Revenue adj. EBITDA(1) / margin Net 59 73 o 2Q24 revenue up 11% from higher revenue in Government 681 11% Our Purpose: 126 income We employ nuclear Operationstechnology and Commercial Operations to solve some of the world’s mos
Slide 5: 2Q23 to 2Q24 non-GAAP EPS bridge
2Q23 to 2Q24 non-GAAP(1) EPS bridge ($ per diluted share) Our Purpose: We employ nuclear technology 0.02 0.82 to 0.14 solve some of 0.00 the world’s most 0.01 important problems Our Mission: We provide safe and effective 0.65 nuclear solutions for global security,items Non-operational clean - Lower
Slide 6: 2Q24 segment summary
2Q24 segment summary Government Operations Commercial Operations ($million) 541 141 492 Our Purpose: 10% We employ nuclear technology 2Q24 revenue up 10% from 17% 2Q24 revenue up 17% from to solve some of the higher volume of naval nuclear world’s most important 121 higher commercial nuclear Revenue
Slide 7: Raising Low-End of 2024 Guidance
Raising Low-End of 2024 Guidance BWXT consolidated guidance Other information (vs. 2023) o Revenue Revenue >$2.6B ‒ ‒ Government Operations: up mid single digits Commercial Operations: up high-single to low-double digits Up mid-single digits o Adj. EBITDA(1) ‒ Government Operations Margin: slightly
Slide 8: 2023 to 2024 non-GAAP EPS bridge
2023 to 2024 non-GAAP(1,2) EPS bridge ($ per diluted share) Our Purpose: We employ nuclear technology Mid-single digit adj. to solve some of the world’s EBITDA(1) growth 0.07 - 0.16 0.03most- 0.04 important0.00 ~(0.02) 3.10 – 3.20 problems vs. 0.05-0.18 previously vs. 0.02-0.03 previously vs.~(0.01)
Slide 9: Appendix: Non-GAAP reconciliations
Appendix Non-GAAP reconciliations
Slide 10: 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 11: 2Q 2024 non-GAAP reconciliations
2Q 2024 non-GAAP reconciliations RECONCILIATION OF NON-GAAP OPERATING INCOME AND EARNINGS PER SHARE(1)(2)(3) (In millions, except per share amounts) Three Months Ended June 30, 2024 Restructuring & RECONCILIATION OF REPORTING SEGMENT ADJUSTED EBITDA(1)(2)(3) Transformation Acquisition- One-Time Tax
Slide 12: 2Q 2023 non-GAAP reconciliations
2Q 2023 non-GAAP reconciliations RECONCILIATION OF NON-GAAP OPERATING INCOME AND EARNINGS PER SHARE(1)(2)(3) (In millions, except per share amounts) Three Months Ended June 30, 2023 Restructuring Acquisition- RECONCILIATION OF REPORTING SEGMENT ADJUSTED EBITDA(1)(2)(3) GAAP Costs related Costs Non-G