BWXT - Why BWX Technologies Stock Is Sinking Today
2024-05-07 12:25:52 ET
Nuclear supplier BWX Technologies (NYSE: BWXT) started the year strong, but the company's pipeline might not turn into sales quite as quickly as investors had hoped. Investors are disappointed, sending shares of BWX down 10% as of noon Eastern.
BWX is a major supplier of nuclear fuel and components to the U.S. government and commercial customers, including providing the power plants for the Navy's arsenal of nuclear-powered submarines and aircraft carriers.
The company earned $0.76 per share in the quarter on revenue of $604.9 billion, outpacing Wall Street's $0.69 per share on revenue of $600 million consensus estimate. Revenue was up 6% year over year, but operating income on the government side fell due to increased staffing levels and product mix.
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Why BWX Technologies Stock Is Sinking Today