BWXT - BWX Technologies slumps after earnings miss; narrows 2021 guidance
BWX Technologies (NYSE:BWXT) declined 8% premarket after its Q3 earnings, which missed expectations on the top and bottom lines. Q3 2021 revenues fell 4% year-over-year to $499M, below the consensus of $535.22M. The adjusted EPS was The adjusted earnings per share of $0.76 were $0.03 shy of the estimates. Nuclear Operations Group segment revenue was flat Y/Y to $387M, NOG GAAP and non-GAAP operating income was $79.4M and $79.5M, respectively, a 16% increase compared with the prior-year period driven by more favorable contract adjustments due to timing of certain milestones. As of September 30, 2021, the Company’s cash balance, net of restricted cash, was $69.4M. The Company narrows 2021 non-GAAP EPS guidance to lower end of $3.05 vs. the consensus of $3.06; Consolidated revenue flat to up 1% year-over-year vs. a consensus growth of 0.65, NOG revenue down ~1% and NPG revenue up ~9%. Previously (Nov. 1): BWX Technologies EPS misses by
For further details see:
BWX Technologies slumps after earnings miss; narrows 2021 guidance