BWX Technologies, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>BWX Technologies, Inc. filed its Q1 2024 10-Q report on May 6, 2024.</b>

AI Summary

BWX Technologies, Inc. (BWXT) filed a Quarterly Report (10-Q) with the SEC on May 6, 2024. BWX Technologies, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on December 31st. BWXT's principal business is in Engines & Turbines (SIC 3510). The filing was made on May 6, 2024.

Why It Matters

For investors and stakeholders tracking BWX Technologies, Inc., this filing contains several important signals. This 10-Q filing provides investors with a quarterly update on BWXT's financial performance and operational status. Understanding the details within this report is crucial for assessing the company's trajectory in the Engines & Turbines sector.

Risk Assessment

Risk Level: low — BWX Technologies, Inc. shows low risk based on this filing. The filing is a standard 10-Q, providing routine financial updates without immediate red flags.

Analyst Insight

Monitor future 10-Q filings for revenue growth, net income trends, and any changes in debt-to-equity ratios.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Conformed period of report)
• 2024-05-06 — Filing Date (Filed as of date)
• 2024-01-01 — Quarter Start Date (First quarter of fiscal year 2024)
• 1231 — Fiscal Year End (Company's fiscal year end)

Key Players & Entities

• BWX Technologies, Inc. (company) — Filer name
• BWXT (company) — Ticker symbol
• 10-Q (filing) — Form type
• 2024-03-31 (date) — Conformed period of report
• 2024-05-06 (date) — Filed as of date
• LYNCHBURG (location) — City
• VA (location) — State
• 24504 (postal_code) — ZIP code

FAQ

Industry Context

BWX Technologies operates in the Engines & Turbines industry, a sector critical for power generation and industrial applications.

Regulatory Implications

The company is subject to standard SEC reporting requirements for public companies, including the filing of quarterly 10-Q reports.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management discussion.
2. Compare Q1 2024 performance against previous quarters and the same period last year.
3. Analyze any segment-specific information or disclosures within the report.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-06: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing for the fiscal year 2024, providing the first look at the company's performance in the current year.

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value BWXT New York Stock Exchange

Filing Documents

• bwxt-20240331.htm (10-Q) — 1037KB
• exhibit_101x33124x10q.htm (EX-10.1) — 99KB
• exhibit_102x33124x10q.htm (EX-10.2) — 94KB
• exhibit_103x33124x10q.htm (EX-10.3) — 90KB
• exhibit311_33124x10q.htm (EX-31.1) — 9KB
• exhibit312_33124x10q.htm (EX-31.2) — 9KB
• exhibit321_33124x10q.htm (EX-32.1) — 6KB
• exhibit322_33124x10q.htm (EX-32.2) — 6KB
• 0001486957-24-000029.txt (&nbsp;) — 5985KB
• bwxt-20240331.xsd (EX-101.SCH) — 29KB
• bwxt-20240331_cal.xml (EX-101.CAL) — 69KB
• bwxt-20240331_def.xml (EX-101.DEF) — 129KB
• bwxt-20240331_lab.xml (EX-101.LAB) — 486KB
• bwxt-20240331_pre.xml (EX-101.PRE) — 320KB
• bwxt-20240331_htm.xml (XML) — 873KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1. Condensed Consolidated Financial Statements 2 Condensed Consolidated Statements of Income Three Months Ended March 31, 2024 and 2023 (Unaudited) 2 Condensed Consolidated Statements of Comprehensive Income Three Months Ended March 31, 2024 and 2023 (Unaudited) 3 Condensed Consolidated Balance Sheets March 31, 2024 and December 31, 2023 (Unaudited) 4 Condensed Consolidated Statements of Stockholders' Equity Three Months Ended March 31, 2024 and 2023 (Unaudited) 6 Condensed Consolidated Statements of Cash Flows Three Months Ended March 31, 2024 and 2023 (Unaudited) 7 Notes to Condensed Consolidated Financial Statements 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 17 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 24 Item 4.

Controls and Procedures

Controls and Procedures 24

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 26 Item 1A.

Risk Factors

Risk Factors 26 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 26 Item 5 Other Information 28 Item 6. Exhibits 27

Signatures

Signatures 28 1 Table of Contents PART I FINANCIAL INFORMATION

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Item 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS BWX TECHNOLOGIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME Three Months Ended March 31, 2024 2023 (Unaudited) (In thousands, except share and per share amounts) Revenues $ 603,966 $ 568,360 Costs and Expenses: Cost of operations 455,357 431,130 Research and development costs 1,490 2,204 Losses (gains) on asset disposals and impairments, net — ( 6 ) Selling, general and administrative expenses 67,361 60,835 Total Costs and Expenses 524,208 494,163 Equity in Income of Investees 13,203 13,645 Operating Income 92,961 87,842 Other Income (Expense): Interest income 846 463 Interest expense ( 9,595 ) ( 10,819 ) Other – net 4,165 2,188 Total Other Income (Expense) ( 4,584 ) ( 8,168 ) Income before Provision for Income Taxes 88,377 79,674 Provision for Income Taxes 19,843 18,681 Net Income $ 68,534 $ 60,993 Net Loss (Income) Attributable to Noncontrolling Interest ( 66 ) 99 Net Income Attributable to BWX Technologies, Inc. $ 68,468 $ 61,092 Earnings per Common Share: Basic: Net Income Attributable to BWX Technologies, Inc. $ 0.75 $ 0.67 Diluted: Net Income Attributable to BWX Technologies, Inc. $ 0.75 $ 0.67 Shares used in the computation of earnings per share (Note 8): Basic 91,555,384 91,503,988 Diluted 91,860,923 91,799,690 See accompanying notes to condensed consolidated financial statements. 2 Table of Contents BWX TECHNOLOGIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME Three Months Ended March 31, 2024 2023 (Unaudited) (In thousands) Net Income $ 68,534 $ 60,993 Other Comprehensive Income (Loss): Currency translation adjustments ( 11,308 ) 1,694 Derivative financial instruments: Unrealized (losses) gains arising during the period, net of tax benefit (provision) of $ 132 and $( 231 ), respectively ( 385 ) 677 Reclassification adjustment for gains included in net income, net of tax provision of $ 21 and $ 43 , respectively ( 61 ) ( 123

View Full Filing

View this 10-Q filing on SEC EDGAR