Slide 1: Our Purpose and Mission
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 energy, environmental remediation, nuclear medicine, and space exploration Commitment to innovation, operational exce
Slide 2: Forward-looking statements
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 forward-looking statements. The forward-look
Slide 3: 3Q financial performance and 2022 guidance
o 3Q financial performance ‒ Revenue up 5%, adjusted EBITDA(1) down 5% (including CAS pension headwind), FCF(1) up $25M ‒ Strong performance in Commercial Ops. and overall cost control, offset by Government Ops. headwinds due to Our Purpose: We employ nuclear technology hiring challenges and lower r
Slide 4: Third quarter consolidated results
($million, except per share amounts) Operating income & Revenue adj. EBITDA(1) / margin Op. o 3Q22 revenue up 5% from higher Government Operations 524 87 80 income Our Purpose: We employ nuclear technology and Commercial Operations segment revenue 499 5% 106 to solve some100of the world’s Adj. EBITD
Slide 5: Non-GAAP EPS bridge 3Q21 to 3Q22
($ per diluted share) 0.76 Our Purpose: We employ nuclear technology to solve some of the world’s most important (0.03) 0.69 problems ~(0.03) (0.03) Segment revenue 0.02 Our Mission: We provide safe and effective Comm. Ops. margin nuclear solutions for global Pension security, clean income reported
Slide 6: Segment results: Government and Commercial Operations
($million) 417 423 Our Purpose: We employ nuclear technology to solve some offrom the world’s most important 102 3Q22 revenue up 22% from Revenue Revenue 1%3Q22 revenue up 1% higher naval production and microreactor 22% higher commercial nuclear power 83 problems volume, partially offset by lower fi
Slide 7: 2022 guidance
(vs. ~$17M) (vs. ~$50M) (vs. $35M - $39M) Corporate unallocated Other income, Net interest expense costs primarily pension (vs. ~23.5%) Average diluted (vs. $75M - $80M) Non-GAAP effective shares outstanding Depreciation & tax rate Amortization = change versus prior year. Red/Green text = change out
Slide 8: 2022 non-GAAP EPS guidance bridge
($ per diluted share) High-single digit ex-pension adjusted EBITDA(1) growth Our Purpose: We employ nuclear technology to solve some~(0.14) of the world’s most important 0.25 - 0.27 problems 3.10 - 3.15 3.06 Our Mission: We provide safe (0.14) -and(0.17)effective ~0.10 nuclear Gov. Ops. revenue solu
Slide 9: Strong operational growth, below-the-line headwinds
Strong operational growth… Our Purpose: We employ nuclear technology …likely moretothan solveoffset some of bythe anticipated world’s most below-the-line important headwinds problems o Mid-single-digit Our Mission: We revenue providegrowth safe and(Gov. Ops. driven) effective nuclear solutions o Exp
Slide 10: Appendix: Pension summary, non-GAAP definitions and other information
Bw» BW Technologies, Inc Appendix Pension summary, non-GAAP definitions and other information
Slide 11: Pension summary
($millions) 2015(3) 2016 2017 2018 2019 2020 2021 2022E Benefit obligation at end of period 1,566 1,572 1,543 1,186 1,309 1,414 1,308 Our Purpose: 1,210 Fair value of plan assets at end of period We employ 1,218 nuclear 1,258 technology 1,024 1,150 1,281 1,257 Funded status over (under) to solve som
Slide 12: Pension asset returns and discount rate sensitivity
Asset returns and discount rates dictate next year’s ‘Other – net’ within Other Income / (Expense) line item. Movement year-to-date in those metrics suggest that line will move from approximately ~$50M in 2022 to less than $10M in 2023 Our Purpose: We employ Asset Returns nuclear technology ($ milli
Slide 13: Non-GAAP definitions and calculations
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 GAAP to non-GAAP to solve someincluding reconciliations, of the adjusted world’sEBITDA, most important can be found on the inv
Slide 14: Quarterly segment revenue and income
Three Months Ended December 31, Year Ended December 31, 3/31/2021 6/30/2021 9/30/2021 12/31/2021 12/31/2021 12/31/2020 (Unaudited) (In thousands) REVENUES: Government Operations Our Purpose: We$ employ $ 423,275 405,497 $ nuclear 417,139 $technology 479,186 $ 1,725,097 $ 1,763,127 Commercial Operati