BWX Technologies Q2 2024 10-Q Filing

TL;DR

BWXT 10-Q filed. Financials for Q2 and H1 2024 are in. Check it.

AI Summary

BWX Technologies, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported financial results for the second quarter and the first half of the year. Specific financial figures for revenue, net income, and cash flow for these periods are detailed within the filing.

Why It Matters

This filing provides investors with the latest financial performance and operational updates for BWX Technologies, Inc., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — The filing contains standard financial disclosures for a public company, but the inherent risks of the industry and company operations necessitate a medium risk assessment.

Key Numbers

• 2024 Q2 — Reporting Period (Second quarter financial results)
• 2024 H1 — Reporting Period (First half financial results)

Key Players & Entities

• BWX Technologies, Inc. (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• 20240805 (date) — Filing date

FAQ

Key Financial Figures

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

Filing Documents

• bwxt-20240630.htm (10-Q) — 1459KB
• exhibit311_63024x10q.htm (EX-31.1) — 9KB
• exhibit312_63024x10q.htm (EX-31.2) — 9KB
• exhibit321_63024x10q.htm (EX-32.1) — 6KB
• exhibit322_63024x10q.htm (EX-32.2) — 6KB
• 0001486957-24-000042.txt ( ) — 7025KB
• bwxt-20240630.xsd (EX-101.SCH) — 29KB
• bwxt-20240630_cal.xml (EX-101.CAL) — 69KB
• bwxt-20240630_def.xml (EX-101.DEF) — 129KB
• bwxt-20240630_lab.xml (EX-101.LAB) — 503KB
• bwxt-20240630_pre.xml (EX-101.PRE) — 328KB
• bwxt-20240630_htm.xml (XML) — 1346KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1. Condensed Consolidated Financial Statements 2 Condensed Consolidated Statements of Income Three and Six Months Ended June 30, 2024 and 2023 (Unaudited) 2 Condensed Consolidated Statements of Comprehensive Income Three and Six Months Ended June 30, 2024 and 2023 (Unaudited) 3 Condensed Consolidated Balance Sheets June 30, 2024 and December 31, 2023 (Unaudited) 4 Condensed Consolidated Statements of Stockholders' Equity Three Months Ended March 31 and June 30, 2024 and 2023 (Unaudited) 6 Condensed Consolidated Statements of Cash Flows Six Months Ended June 30, 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 19 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 27 Item 4.

Controls and Procedures

Controls and Procedures 27

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 28 Item 1A.

Risk Factors

Risk Factors 28 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 28 Item 5 Other Information 28 Item 6. Exhibits 29

Signatures

Signatures 30 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 June 30, Six Months Ended June 30, 2024 2023 2024 2023 (Unaudited) (In thousands, except share and per share amounts) Revenues $ 681,465 $ 612,445 $ 1,285,431 $ 1,180,805 Costs and Expenses: Cost of operations 513,196 471,324 968,553 902,454 Research and development costs 1,271 2,595 2,761 4,799 Gains on asset disposals and impairments, net ( 4 ) ( 9 ) ( 4 ) ( 15 ) Selling, general and administrative expenses 79,780 64,437 147,141 125,272 Total Costs and Expenses 594,243 538,347 1,118,451 1,032,510 Equity in Income of Investees 11,584 12,568 24,787 26,213 Operating Income 98,806 86,666 191,767 174,508 Other Income (Expense): Interest income 540 517 1,386 980 Interest expense ( 10,688 ) ( 12,206 ) ( 20,283 ) ( 23,025 ) Other – net 2,971 2,962 7,136 5,150 Total Other Income (Expense) ( 7,177 ) ( 8,727 ) ( 11,761 ) ( 16,895 ) Income before Provision for Income Taxes 91,629 77,939 180,006 157,613 Provision for Income Taxes 18,584 19,274 38,427 37,955 Net Income $ 73,045 $ 58,665 $ 141,579 $ 119,658 Net Loss (Income) Attributable to Noncontrolling Interest ( 73 ) ( 68 ) ( 139 ) 31 Net Income Attributable to BWX Technologies, Inc. $ 72,972 $ 58,597 $ 141,440 $ 119,689 Earnings per Common Share: Basic: Net Income Attributable to BWX Technologies, Inc. $ 0.80 $ 0.64 $ 1.54 $ 1.31 Diluted: Net Income Attributable to BWX Technologies, Inc. $ 0.79 $ 0.64 $ 1.54 $ 1.30 Shares used in the computation of earnings per share (Note 8): Basic 91,564,263 91,626,846 91,559,824 91,565,417 Diluted 91,801,539 91,805,179 91,831,232 91,802,435 See accompanying notes to condensed consolidated financial statements. 2 Table of Contents BWX TECHNOLOGIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (Unaudited) (In thousan

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View this 10-Q filing on SEC EDGAR