BWX Technologies, Inc. (BWXT) – Maintaining “HOLD” as bookings and backlog declined

BWX Technologies, Inc. (BWXT) (Q1FY23)

Introduction

BWX Technologies, Inc., together with its subsidiaries, manufactures and sells nuclear components in the United States, Canada, and internationally. It operates through two segments: Government Operations and Commercial Operations.

The Government Operations segment designs and manufactures naval nuclear components, reactors, and nuclear fuel; undertakes fabrication activities for missile launch tubes for U.S. Navy submarines; and supplies proprietary and sole-source valves, manifolds, and fittings to naval and commercial shipping customers.

This segment also involved in manufacture of close-tolerance and equipment for nuclear applications; and converts Cold War-era government stockpiles of high-enriched uranium, as well as receives, stores, characterizes, dissolves, recovers, and purifies uranium-bearing materials; supplies research reactor fuel elements for colleges, universities, and national laboratories; and components for defense applications.

The Commercial Operations segment designs and manufactures commercial nuclear steam generators, heat exchangers, pressure vessels, and reactor components; and other auxiliary equipment, including containers for the storage of nuclear fuel and other high-level nuclear waste. It also offers nuclear fuel, fuel handling systems, tooling delivery systems, nuclear grade materials, and precisely machined components, as well as related services for CANDU nuclear power plants; in-plant inspection, maintenance, and modification services, as well as non-destructive examination and tooling/repair solutions; and medical radioisotopes, radiopharmaceuticals, and medical devices.

Highlights

Revenues increased 7.0% to $568.4mn in Q1FY23 compared to $530.7mn in the previous year period. The increase was primarily driven by higher volume in the manufacture of nuclear components for U.S. Government programs, resulting in an increase in revenues of $31.3mn when compared to the prior year.

Stock Performance

BWX Technologies stock gave returns of 11.0% and 33.9% returns in three months and one year period. The stock has a 52 week high of $67.7 and 52 week low of $50.3. The stock has a CAGR of 4.5% over a period of three years.

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Highlights

Valuation

– Enterprise Value
– CrispIdea Forecast
– CrispIdea Segment Forecast
– Economic Value Added Analysis
– P/E Analysis
– Peer Valuation
– CrispIdea Forecast Relative to Consensus
– Consensus History and Surprise
– Consensus Momentum

Actual & Historical Performance

– Income Statement
– Balance Sheet
– Cash Flow
– 10 Year Historical Performance
– Ratio Analysis
– Du Pont Analysis
– ROIC & ROCE Analysis
– Segment Performance
– Key Metrics
– M&A Deals

Peer Performance

– Summary
– Profitability
– Growth
– Price Performance

Ownership

Stock Price Performance

Crispidea Coverage

No of Pages : 36

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