BWXT reports increased sales in nuclear operations group

By Marjorie Censer / February 25, 2020 at 10:17 AM

BWX Technologies said today sales in its nuclear operations group, which includes its naval work, during the most recent quarter totaled $371 million, up 6% from the same three-month period a year earlier.

The growth, the company said, was driven by "higher long-lead material purchases."

Quarterly profit in the unit totaled nearly $72 million, down 21%.

For the year, the nuclear operations group's sales reached $1.4 billion, up 8% from 2018. The unit's 2019 profit hit $298 million, up 10% from 2018, "driven by the absence of missile tube charges and higher long-lead material purchases."

In a call with analysts this morning, Rex Geveden, BWXT's chief executive, said the company is making progress on missile tube repairs.

He said 80% of repair welds "are now complete or in process."

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