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BWX Technologies : Reports First Quarter 2021 Results and Commences New Multi-Year Guidance Framework


Reports robust backlog of nearly $5.2 billion driven by Naval Reactors bookings and other wins
Reiterates 2021 guidance: non-GAAP earnings range of $3.05 to $3.20 per share
Initiates new $500 million share repurchase authorization
Commences new multi-year guidance framework for growth, free cash flow and capital allocation
BWX Technologies, Inc. (NYSE: BWXT) ( BWXT , we , us or the Company ) reported first quarter 2021 revenue of $528 million, a 2.6% decrease compared with $542 million in the first quarter 2020. Net income for the first quarter 2021 was $69.7 million, or $0.73 per diluted share, compared with GAAP net income of $75.5 million, or $0.79 per diluted share and non-GAAP net income of $75.6 million, or $0.79 per diluted share, in the prior-year period. A reconciliation of non-GAAP results is detailed in Exhibit 1. ....

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