BWXT - BWXT Technologies increases FY20 segment guidance due to performance of Nuclear Operations and Nuclear Power Group

BWXT Technologies ([[BWXT]] -0.7%) Q3 reports consolidated revenue of $520M, up 3% Y/Y.Nuclear Operations Group segment revenue was $387M, a 2% decrease, NOG operating income was $68.5M, a 27% decrease. Segment operating margin was 17.7%.Nuclear Power Group segment revenue was $108M, a 28% increase, NPG GAAP and non-GAAP operating income was $29.2M and $29.7M respectively. Segment GAAP and non-GAAP operating margins were 27.0% and 27.5% respectively.2020 guidance: NOG operating margin in the “high teens” with upside potential from CAS pension reimbursement; NSG operating income of ~$25M; Other segment operating expense primarily R&D of ~1% of revenue; Unallocated corporate expenses of ~$15M; Other income primarily related to pension and other post-employment benefits of ~$37M; Capital expenditures of ~$270M; Non-GAAP effective tax rate of ~23%.“BWXT delivered solid results in the third quarter, exhibiting consistent underlying business performance across all segments and indicating the stability of our end markets even under challenging economic conditions. Another strong quarter of financial

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BWXT Technologies increases FY20 segment guidance due to performance of Nuclear Operations and Nuclear Power Group