Slide 1: First-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 First-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: First Quarter 2024 and Outlook Highlights
First Quarter 2024 and Outlook Highlights o 1Q24 Y/Y financial performance ‒ Revenue up 6%, driven by solid organic revenue growth in Government Operations and Commercial Operations Our Purpose: We employ nuclear technology ‒ Adjusted EBITDA(1) up 4%, driven by CO margin expansion, including improve
Slide 4: 1Q24 financial summary
1Q24 financial summary ($million, except per share amounts) Net income & Revenue adj. EBITDA(1) / margin Net 61 69 o 1Q24 revenue up 6% from higher revenue in Government 604 Our Purpose: 115 income We employ nuclear Operationstechnology and Commercial Operations to solve some of the world’s most imp
Slide 5: 1Q23 to 1Q24 non-GAAP EPS bridge
1Q23 to 1Q24 non-GAAP(1) EPS bridge ($ per diluted share) 0.02 Our Purpose: We employ 0.02 nuclear technology 0.76 0.02 to solve some of the world’s most important 0.70 problems Our Mission: Gov. Ops. revenue We provide safe and effective nuclear solutions for global Com. Ops. revenue security, clea
Slide 6: 1Q24 segment summary
1Q24 segment summary Government Operations Commercial Operations ($million) 487Our Purpose: 6% We employ nuclear technology 117 1Q24 revenue up 6% from 1Q24 revenue up 7% from 460 to solve some of the world’s most important higher volume of naval nuclear 109 7% higher commercial nuclear Revenue Reve
Slide 7: Reaffirming 2024 Guidance
Reaffirming 2024 Guidance BWXT consolidated guidance Other information (vs. 2023) o Revenue Revenue >$2.6B ‒ ‒ Government Operations: up mid single digits Commercial Operations: up high-single to low-double digits Up mid-single digits o Adj. EBITDA(1) ‒ Government Operations Margin: slightly lower ‒
Slide 8: 2023 to 2024 non-GAAP EPS bridge
2023 to 2024 non-GAAP(1,2) EPS bridge ($ per diluted share) Our Purpose: We employ nuclear technology Mid-single digit adj. to solve some~(0.02) EBITDA(1) growth of the world’s most important 0.02 - 0.03 0.05 - 0.18 ~(0.01) 3.05 – 3.20 problems 3.02 Our Mission: We provide safe and effective Gov.nuc
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: 1Q 2024 non-GAAP reconciliations
1Q 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) RECONCILIATION OF REPORTING SEGMENT ADJUSTED EBITDA(1)(2)(3) Three Months Ended March 31, 2024 (In millions) Restructuring & Thr
Slide 12: 1Q 2023 non-GAAP reconciliations
1Q 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) Three Months Ended March 31, 2023 RECONCILIATION OF REPORTING SEGMENT ADJUSTED EBITDA(1)(2)(3) (In millions) Restructuring Acqui