BWXT said missile tube repair work 'is trending positively'

By Marjorie Censer / November 5, 2019 at 9:43 AM

BWX Technologies' chief executive said today about 60% of the missile tubes requiring rework are now either under repair or complete.

The company last year identified faulty welding on missile tubes slated for the Navy's Columbia-class submarine. Rex Geveden told analysts today that the remainder of the missile tube backlog will be complete in 2021.

Meanwhile, BWXT's nuclear operations group, which includes its naval work, said sales in its most recent quarter totaled $395 million, up 24% from the same three-month period a year earlier.

The unit's quarterly profit totaled $94 million, more than double the prior year, because of higher volume, "positive contract adjustments" and the absence of missile tube charges.

Geveden said the group is growing its workforce, which now totals about 4,300.