Slide 1: Our Purpose: We employ nuclear technology to solve some of the world's most important problems
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: 2022 financial performance and strategic milestones
o 2022 financial performance ‒ Revenue up 5%, adjusted EBITDA(1) up 5% (including CAS pension headwind), non-GAAP EPS(1) up 2% ‒ Our Strong operational Purpose: performance We employ (ex-pension nuclear adj. EBITDA technology (1) up 9.5%), all-weather portfolio offset macro headwinds including hirin
Slide 4: 2023 financial guidance and opportunities
o 2023 financial guidance Continue to drive top-line gains, accelerate EBITDA(1) growth and inflect FCF(1) ‒ Our Purpose: We employ nuclear technology Revenue: ~$2.4B ‒ to(1):solve Adjusted EBITDA some of the world’s most important ~$475M ‒ Adjusted Pre-taxproblems Income(1): ~$350M ‒ Our Non-GAAP(1
Slide 5: Fourth quarter 2022 results
($million, except per share amounts) Net income & Revenue adj. EBITDA(1) / margin o 4Q22 revenue up 5% from higher Government Operations Net 117 43 partially offset by lower Commercial Operations 624 592 Our Purpose: 130 income We employonuclear technology 4Q22 adj. EBITDA(1) up 6% from higher reven
Slide 6: Full year 2022 results
($million, except per share amounts) Net income & o 2022 revenue up 5% driven by increases in both operating Revenue adj. EBITDA(1) / margin segments Net 306 239 2,124 2,233 Our Purpose: 439 income We employonuclear technology 2022 adj. EBITDA (1) up 5% from higher revenue and lower 5% 418 corporate
Slide 7: 2022 non-GAAP EPS bridge
($ per diluted share) 9.5% ex-pension adj. EBITDA(1) growth Our Purpose:(0.14) We employ nuclear technology 3.13 0.27 3.06 to solve some of the world’s (0.15) most important0.09 problems Segment revenue Our Mission: We provide safe Gov. Ops. Margin / and reported effective (0.02) - pension income in
Slide 8: 2023 guidance assumptions and outlook
o Modest labor progress including hiring/attrition o Stable interest rates at current lower levels up mid-to-high-single digits o Continued minimal supply chain disruptions o Equitable adjustment to certain contracts up high-single digits ~20% EBITDA margin o Revenue ‒ Government Operations: up mid-
Slide 9: 2023 non-GAAP EPS bridge
($ per diluted share) High-single digit adj. EBITDA(1) growth Our Purpose: We employ nuclear technology 3.13 to solve ~0.21 some of the world’s most important ~(0.32) problems Our Mission: Gov. Ops. revenue We provide safe and effective ~(0.12) 2.80 - 3.00 nuclear solutions for global security, clea
Slide 10: Appendix: segment results, pension summary and non-GAAP definitions
Bw» BW Technologies, Inc Appendix segment results, pension summary and non-GAAP definitions
Slide 11: Segment results: Government and Commercial Operations
($million) 1,808 427 1,725 Our 2022 5% Purpose: revenue up 5%Wefromemploy nuclear technology 407 5% higher volume in microreactors, to solve someuranium of the world’s most important 2022 revenue up 5% from Revenue Revenue naval reactors, processing, long-lead material higher commercial nuclear prob
Slide 12: Pension summary
($millions) 2015(3) 2016 2017 2018 2019 2020 2021 2022 2023E Benefit obligation at end of period 1,566 1,572 1,543 1,186 1,309 1,414 1,308 927 Our Purpose: Fair value of plan assets at end of period 1,210We employ 1,218 nuclear 1,258 1,024technology 1,150 1,281 1,257 876 Funded status over (under) (
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