BWX Technologies (BWXT), a provider of nuclear solutions, has posted total revenues of $866.3m in the third quarter of 2025 (Q3 FY25), marking a 29% rise from the $672.0m reported in the same period of 2024.
The company’s government operations contributed $616.7m to this total, reflecting a 10% increase from $560.1m in the prior year quarter.
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This growth in government operations was primarily driven by increased production of naval nuclear components and special materials processing. Additional contributions came from the acquisition of the Aerojet Ordnance Tennessee business from L3Harris in January 2025.
Operating income from government operations experienced a slight decline, reaching $97.4m compared to $101.6m in the same period last year.
This decrease was attributed to a lower level of favourable contract adjustments.
BWXT’s adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) for government operations rose to $118.3m from $117.0m.
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By GlobalDataBWXT president and CEO Rex D. Geveden said: “We delivered strong financial results in the third quarter of 2025 including double-digit organic revenue growth and healthy free cash flow.
“Further, we posted another quarter of robust bookings, driven by large, multi-year special materials contracts highlighting the trust our customers put in BWXT and the power in our differentiating nuclear credentials.”
Overall, BWXT’s net income for the quarter increased to $82.2m, an 18% rise from $69.6m in Q3 FY24.
Its earnings per share (EPS) also improved, with GAAP EPS rising to $0.89 from $0.76.
The company’s backlog reached a record $7.4bn, increasing 119% year-over-year, with government operations contributing $5.9bn to this total.
Looking ahead, BWXT has raised its 2025 guidance for non-GAAP EPS to a range of $3.75 to $3.80 and anticipates adjusted EBITDA growth in the low-double-digit to low-teens range for 2026.
Geveden said: “We are firmly on track to achieve our financial targets in 2025. Our deep backlog and optimistic demand outlook position us well for solid growth in 2026. Our preliminary 2026 outlook calls for low-double-digit to low-teens adjusted EBITDA growth which positions us to meet or exceed our medium-term financial targets.”
In July 2025, BWX Technologies secured contracts worth approximately $2.6bn, under the US Naval Nuclear Propulsion Program, for the manufacture of reactor components.
