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Business/Financial

BWX Technologies Reports Higher Revenue Amid Worst Global Market Days In Two Years

Tuesday, August 6th, 2024

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BWX Technologies Reports Higher Revenue Amid Worst Global Market Days In Two Years

Virginia-class submarine built by General Dynamics's Electric Boat division. Labor shortages crimped the program during the second quarter. Photo: GD

Earnings rose at BWX Technologies [BWXT] in the second quarter, which the company on Monday attributed partly to organic growth in government operations as it prepared to begin work on a new nuclear weapons contract. In June, the National Nuclear Security Administration (NNSA) awarded PanTeXas Deterrence, a BWX Technologies (BWXT)-led joint venture, a contract to manage the Pantex Plant in Amarillo, Texas. With options, the deal is worth $30 billion over 20 years. On an earnings call Monday with investor…

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