BWX Technologies sees durable demand for large nuclear components and SMRs: CEO

Brian Martucci | Source: Utility DIVE | Posted 05/10/2024

On a Monday earnings call, the nuclear components supplier provided updates on a planned manufacturing plant expansion, longer-term demand for small modular reactors and more. BWX Technologies, a key supplier of nuclear fuel, equipment and services for civilian and government customers, on Monday reported a 6% increase in both revenue and operating income in Q1 2024.

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BWX Technologies reported a 6% increase in revenue and operating income in Q1 2024, driven by higher naval nuclear component and microreactor production for government customers, as well as commercial nuclear field services and medical isotope sales. The company plans to expand its Cambridge manufacturing facility to support the global nuclear power market, highlighting growth opportunities in commercial nuclear power.

The company's Q1 2024 financial performance was described as strong, with positive free cash flow for the first time since becoming independent in 2015. Government operations benefited from microreactor sales and a federal award for a cleanup project, while commercial operations saw revenue growth from medical isotopes division and contracts for nuclear plant refurbishments. BWXT was also named as the first qualified supply chain company for GE Hitachi Nuclear Energy's BWRX-300 small modular reactor, gearing up to meet future demand in the nuclear market.

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BWX Technologies sees durable demand for large nuclear components and SMRs: CEO

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