BWX Technologies posted stronger-than-expected second-quarter 2026 results, reporting consolidated revenue of $901.6 million and GAAP net income of $89.1 million. The company reported diluted GAAP EPS of $0.97 and non-GAAP adjusted diluted EPS of $1.07, with consolidated adjusted EBITDA of $155.5 million. Management announced the sale of the medical business, closed the Precision Components Group acquisition on July 1, 2026, and raised 2026 adjusted EBITDA, non-GAAP EPS and free cash flow guidance.

Financial Highlights

  • Revenue: $901.6 million for the three months ended June 30, 2026 (up from $764.0 million year‑over‑year).
  • Operating income (Consolidated GAAP): $114.1 million for Q2 2026 (up from $102.4 million in Q2 2025).
  • Net income (GAAP): $89.1 million for Q2 2026 (up from $78.5 million in Q2 2025).
  • Diluted earnings per share: GAAP $0.97 and non-GAAP $1.07 for Q2 2026 (non-GAAP EPS was $1.02 in Q2 2025).
  • Adjusted EBITDA (consolidated non-GAAP): $155.5 million for Q2 2026 (up from $145.9 million in Q2 2025).

Business Highlights

  • Segment revenue growth: Government Operations revenue increased to $601.3 million and Commercial Operations revenue rose to $302.5 million, with Commercial up 72% year‑over‑year.
  • Commercial Operations momentum driven by higher commercial nuclear components, field services, fuel handling, medical and contribution from Kinectrics.
  • Strategic portfolio actions: announced sale of the medical business to focus resources on nuclear national defense and commercial nuclear power markets.
  • Acquisition and manufacturing expansion: closed acquisition of Precision Components Group on July 1, 2026, establishing a U.S. footprint for commercial nuclear component manufacturing.
  • Backlog and bookings: total backlog reported at $8.398 billion with Government backlog of $6.798 billion and Commercial backlog of $1.600 billion; Q2 bookings totaled $648.9 million.

Original SEC Filing:

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