The Insider

BWX Technologies reports sales increase

February 28, 2018 at 11:00 AM

BWX Technologies, which builds the nuclear reactors used on Navy aircraft carriers and submarines, said this week sales in 2017 reached nearly $1.7 billion, up about 9 percent from 2016.

The company's profit for the year hit $148 million, down 19 percent from the prior year.

The company said the new tax legislation resulted in a $55 million reduction, mostly related to one-time tax asset write-downs.

BWXT's nuclear operations group, which includes its naval work, reported sales for the year of $1.3 billion, up slightly from 2016. The unit's profit was $290 million, up 8 percent from 2016.

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