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- Generates 4Q21 EPS of $1.26 (GAAP), $0.95 (non-GAAP); up 83% and 28%, respectively vs. 4Q20
- Stories 2021 EPS of $3.24 (GAAP), $3.06 (non-GAAP); up 11% and 1%, respectively vs. 2020
- Produces 4Q21 adjusted EBITDA of $123 million, full-year 2021 adjusted EBITDA of $418 million
- Proclaims consolidation of three reporting enterprise segments into two: Authorities Operations and Business Operations
- Reiterates 2022 non-GAAP EPS outlook and gives extra 2022 steerage together with:
- Consolidated income and adjusted EBITDA progress of three% to 4%
- Non-GAAP EPS vary of $3.05 to $3.25
- Money from operations of $260 million to $290 million
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LYNCHBURG, Va. — BWX Applied sciences, Inc. (NYSE: BWXT) (“BWXT”, “we”, “us” or the “Firm”) reported fourth quarter 2021 income of $592 million, a 6% enhance in contrast with $557 million within the fourth quarter 2020. GAAP web earnings for the fourth quarter 2021 was $117 million, or $1.26 per diluted share, in contrast with GAAP web earnings of $65.7 million, or $0.69 per diluted share, within the prior-year interval. Non-GAAP web earnings for the fourth quarter 2021 was $88.2 million, or $0.95 per diluted share, in contrast with non-GAAP web earnings of $70.9 million, or $0.74 per diluted share, within the prior-year interval.
Full-year 2021 income was over $2.1 billion, a slight enhance in contrast with 2020 income. GAAP web earnings in 2021 was $306 million, or $3.24 per diluted share, in contrast with GAAP web earnings of $279 million, or $2.91 per diluted share, in 2020. Non-GAAP web earnings in 2021 was $289 million, or $3.06 per diluted share, in contrast with non-GAAP web earnings of $290 million, or $3.03 per diluted share, in 2020. A reconciliation of non-GAAP outcomes is detailed in Exhibit 1.
“Regardless of enterprise challenges, together with persistence of the pandemic, we delivered one other yr of strong earnings and set the desk for additional enlargement of the enterprise,” mentioned Rex D. Geveden, president and chief government officer. “Though we reported on the decrease finish of our preliminary vary, 2021 was marked by a number of key milestone achievements. BWXT secured a brand new sole-source nuclear supplies contract, received and commenced transition of a brand new flagship contract for the Division of Power nuclear restoration challenge at Savannah River, strengthened our beachhead in therapeutic radiopharmaceuticals, and continued to mature new expertise and designs for microreactor packages.”
“We anticipate to construct on these successes in 2022 to ship the medium-term monetary targets set forth at our current Investor Day. Moreover, we’re asserting a brand new group of our reporting segments to replicate the way in which we’re working the enterprise, which we anticipate to end in significant strategic and value synergies.”
“We stay centered on driving our multi-faceted progress technique by utilizing nuclear expertise to unravel a few of our prospects’ most difficult issues by way of two distinct customer-based reporting segments: Authorities Operations and Business Operations,” mentioned Geveden.
Section Outcomes
Nuclear Operations Group (NOG) phase income was $453 million for the fourth quarter 2021, a 6% enhance from the prior-year interval, pushed by increased long-lead materials manufacturing and labor quantity. Full-year 2021 phase income was over $1.6 billion, a 1% lower in contrast with 2020 income, on account of increased labor quantity and better naval nuclear gas and uranium downblending, which was greater than offset by decrease long-lead materials manufacturing.
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NOG working earnings was $85.8 million within the fourth quarter 2021, a 6% enhance in contrast with the prior-year interval, primarily pushed by increased income. Full-year phase working earnings was $309 million, a 5% lower in contrast with the prior yr, primarily pushed by much less government-reimbursed pension prices and adverse operational effectivity impacts associated to COVID-19 leading to decrease ranges of web favorable contract changes. Fourth quarter and full-year 2021 phase working margins had been 18.9% and 19.0%, respectively.
Nuclear Energy Group (NPG) phase income was $114 million for the fourth quarter 2021, a 7% enhance from the prior-year interval, pushed by increased gas manufacturing and gas dealing with, increased nuclear energy discipline service exercise and better nuclear medication demand, partially offset by decrease part manufacturing quantity. Full-year phase income was $407 million, a ten% enhance in contrast with the prior yr, pushed by increased gas manufacturing and gas dealing with, increased nuclear energy discipline service exercise and better nuclear medication demand, partially offset by decrease part manufacturing quantity.
NPG fourth quarter GAAP and non-GAAP working earnings was $22.4 million and $23.0 million, respectively, each a 70% respective enhance in contrast with the prior-year interval, pushed primarily by elevated income, partially offset by a discount in funds acquired below the CEWS program to offset incurred bills associated to the headwinds created by the pandemic. Full-year 2021 phase GAAP and non-GAAP working earnings was $52.5 million and $53.5 million, respectively, a 1% enhance and a 1% lower, respectively, in contrast with the prior yr, pushed primarily by a discount in funds acquired in below the CEWS program to offset bills incurred because of the pandemic, practically offset by elevated working earnings related to increased income. Fourth quarter and full-year 2021 GAAP phase working margins had been 19.6% and 12.9%, respectively. Fourth quarter and full-year 2021 non-GAAP phase working margins had been 20.1% and 13.1%, respectively.
Nuclear Providers Group (NSG) phase working earnings was $6.1 million within the fourth quarter 2021, in contrast with $8.4 million of working earnings for the fourth quarter 2020 primarily pushed by decrease contract charges and better prices. Full-year 2021 phase working earnings was $27.9 million, in contrast with $26.4 million GAAP working earnings and $27.4 million non-GAAP working earnings within the prior yr, a 6% and a couple of% respective enhance, pushed by higher contract efficiency and decrease prices that had been offset by increased enterprise improvement expense and decrease earnings from accomplished contracts.
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Starting within the first quarter 2022, our reportable segments can be Authorities Operations and Business Operations to replicate the style through which assets can be allotted and working efficiency can be assessed going ahead. Authorities Operations consists of the legacy Nuclear Operations and Nuclear Providers Teams, whereas Business Operations consists of the legacy Nuclear Energy Group. New phase monetary data for 2020 and 2021 is detailed in Exhibit 2.
Money and Capital Returned to Shareholders
The Firm generated $160 million of money from working actions within the fourth quarter 2021, in contrast with $48.3 million of money generated from working actions within the prior-year interval, which didn’t embrace an $88.7 million money receipt sometimes acquired at year-end which was acquired on January 4, 2021. The Firm generated $386 million of money from working actions for the complete yr 2021. The Firm’s money stability, web of restricted money, was $34 million on the finish of the yr.
The Firm returned $59.4 million to shareholders through the fourth quarter 2021, bringing the entire to $305 million of money returned for the complete yr, together with $226 million in share repurchases and $79.7 million in dividends. As of December 31, 2021, whole remaining share repurchase authorization was $418 million.
On February 18, 2022, the BWXT Board of Administrators declared a quarterly money dividend of $0.22 per frequent share, a rise from the prior quarterly money dividend. The dividend can be payable on March 29, 2022, to shareholders of file on March 10, 2022.
2022 Steerage
- Income up 3% to 4% vs. 2021
- Adjusted EBITDA up 3% to 4% vs. 2021
- Non-GAAP EPS vary of $3.05 to $3.25
- Money from operations of $260 million to $290 million
- Capital expenditures of $180 million to $200 million
The Firm doesn’t present GAAP steerage as a result of it’s unable to reliably forecast a lot of the objects which might be excluded from GAAP to calculate non-GAAP outcomes. These things may trigger GAAP outcomes to vary materially from non-GAAP outcomes. See reconciliation of non-GAAP ends in Exhibit 1 for extra data.
Convention Name to Focus on Fourth Quarter and Full 12 months 2021 Outcomes
Date: |
Tuesday, February 22, 2022, at 5:00 p.m. EST |
|
Reside Webcast: |
Investor Relations part of web site at www.bwxt.com |
Full Earnings Launch Obtainable on BWXT Web site
A full model of this earnings launch is on the market on our Investor Relations web site at http://buyers.bwxt.com/q42021-release
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BWXT could use its web site ( www.bwxt.com) as a channel of distribution of fabric Firm data. Monetary and different essential data relating to BWXT is routinely accessible by way of and posted on our web site. As well as, it’s possible you’ll elect to routinely obtain e-mail alerts and different details about BWXT by enrolling by way of the “E mail Alerts” part of our web site at http://buyers.bwxt.com.
Ahead-Wanting Statements
BWXT cautions that this launch comprises forward-looking statements, together with, with out limitation, statements regarding backlog, to the extent they might be considered as an indicator of future revenues; our plans and expectations for every of our reportable segments, and deliberate modifications to such segments in 2022, together with the expectations, timing and income of our strategic initiatives, similar to medical radioisotopes; disruptions to our provide chain and/or operations, modifications in authorities laws and different elements, together with any such impacts of, or actions in response to the COVID-19 well being disaster; and our expectations and steerage for 2022 and past. These forward-looking statements are primarily based on administration’s present expectations and contain a lot of dangers and uncertainties, together with, amongst different issues, our capability to execute contracts in backlog; the shortage of, or opposed modifications in, federal appropriations to authorities packages through which we take part; the demand for and competitiveness of nuclear services; capital priorities of energy producing utilities and different prospects; the influence of COVID-19 on our enterprise and our staff, contractors, suppliers, prospects and different companions and their enterprise actions; the extent to which the size and severity of the COVID-19 well being disaster exceeds our present expectations; the potential recurrence of subsequent waves or strains of COVID-19 or comparable ailments; opposed modifications within the industries through which we function; and delays, modifications or termination of contracts in backlog. If a number of of those dangers or different dangers materialize, precise outcomes could fluctuate materially from these expressed. For a extra full dialogue of those and different threat elements, see BWXT’s filings with the Securities and Trade Fee, together with our annual report on Type 10-Okay for the yr ended December 31, 2021. BWXT cautions to not place undue reliance on these forward-looking statements, which converse solely as of the date of this launch, and undertakes no obligation to replace or revise any forward-looking assertion, besides to the extent required by relevant regulation.
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About BWXT
At BWX Applied sciences, Inc. (NYSE: BWXT), we’re Folks Sturdy, Innovation Pushed. Headquartered in Lynchburg, Virginia, BWXT is a Fortune 1000 and Protection Information Prime 100 manufacturing and engineering innovator that gives secure and efficient nuclear options for world safety, clear power, environmental remediation, nuclear medication and house exploration. With roughly 6,600 staff, BWXT has 12 main working websites within the U.S. and Canada. As well as, BWXT joint ventures present administration and operations at greater than a dozen U.S. Division of Power and NASA amenities. Comply with us on Twitter at @BWXT and study extra at www.bwxt.com.
EXHIBIT 1 |
|||||||||||||||||||
BWX TECHNOLOGIES, INC. |
|||||||||||||||||||
RECONCILIATION OF NON-GAAP OPERATING INCOME AND EARNINGS PER SHARE(1)(2)(3) |
|||||||||||||||||||
(In hundreds of thousands, besides per share quantities) |
|||||||||||||||||||
Three Months Ended December 31, 2021 |
|||||||||||||||||||
GAAP |
Pension & OPEB MTM (Achieve) / Loss |
Restructuring and Different Prices |
Non-GAAP |
||||||||||||||||
Working Revenue |
$ |
102.2 |
$ |
— |
$ |
2.4 |
$ |
104.6 |
|||||||||||
Different Revenue (Expense) |
44.9 |
(39.6 |
) |
— |
5.3 |
||||||||||||||
Provision for Revenue Taxes |
(30.2 |
) |
9.1 |
(0.6 |
) |
(21.7 |
) |
||||||||||||
Internet Revenue |
116.9 |
(30.5 |
) |
1.8 |
88.2 |
||||||||||||||
Internet Revenue Attributable to Noncontrolling Curiosity |
(0.0 |
) |
— |
— |
(0.0 |
) |
|||||||||||||
Internet Revenue Attributable to BWXT |
$ |
116.9 |
$ |
(30.5 |
) |
$ |
1.8 |
$ |
88.2 |
||||||||||
Diluted Shares Excellent |
92.5 |
92.5 |
|||||||||||||||||
Diluted Earnings per Frequent Share |
$ |
1.26 |
$ |
(0.33 |
) |
$ |
0.02 |
$ |
0.95 |
||||||||||
Efficient Tax Price |
20.5 |
% |
19.8 |
% |
|||||||||||||||
NPG Working Revenue |
$ |
22.4 |
$ |
0.6 |
$ |
23.0 |
|||||||||||||
Unallocated Company Working Revenue |
$ |
(7.1 |
) |
$ |
1.8 |
$ |
(5.3 |
) |
Three Months Ended December 31, 2020 |
|||||||||||||||||||||
GAAP |
Pension & OPEB MTM (Achieve) / Loss |
Restructuring Prices |
Prices Related to Sale of Enterprise |
Non-GAAP |
|||||||||||||||||
Working Revenue |
$ |
89.1 |
$ |
— |
$ |
0.4 |
$ |
0.2 |
$ |
89.6 |
|||||||||||
Different Revenue (Expense) |
(1.3 |
) |
6.4 |
— |
— |
5.1 |
|||||||||||||||
Provision for Revenue Taxes |
(21.8 |
) |
(1.6 |
) |
(0.1 |
) |
(0.0 |
) |
(23.5 |
) |
|||||||||||
Internet Revenue |
66.0 |
4.8 |
0.3 |
0.2 |
71.2 |
||||||||||||||||
Internet Revenue Attributable to Noncontrolling Curiosity |
(0.2 |
) |
— |
— |
— |
(0.2 |
) |
||||||||||||||
Internet Revenue Attributable to BWXT |
$ |
65.7 |
$ |
4.8 |
$ |
0.3 |
$ |
0.2 |
$ |
70.9 |
|||||||||||
Diluted Shares Excellent |
95.8 |
95.8 |
|||||||||||||||||||
Diluted Earnings per Frequent Share |
$ |
0.69 |
$ |
0.05 |
$ |
0.00 |
$ |
0.00 |
$ |
0.74 |
|||||||||||
Efficient Tax Price |
24.8 |
% |
24.8 |
% |
|||||||||||||||||
NPG Working Revenue |
$ |
13.2 |
$ |
0.4 |
$ |
13.6 |
|||||||||||||||
(1) |
Tables could not foot on account of rounding. |
||||||||||||||||||||
(2) |
BWXT is offering non-GAAP data relating to sure of its historic outcomes and steerage on future earnings per share to complement the outcomes offered in accordance with GAAP and it shouldn’t be thought-about superior to, or as an alternative to, the comparable GAAP measures. BWXT believes the non-GAAP measures present significant perception and transparency into the Firm’s operational efficiency and gives these measures to buyers to assist facilitate comparisons of working outcomes with prior durations and to help them in understanding BWXT’s ongoing operations. |
||||||||||||||||||||
(3) |
BWXT has not included a reconciliation of offered non-GAAP steerage to the comparable GAAP measures because of the issue of estimating any mark-to-market changes for pension and post-retirement advantages, that are decided on the finish of the yr. |
||||||||||||||||||||
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EXHIBIT 1 (continued) |
|||||||||||||||||||||||||
BWX TECHNOLOGIES, INC. |
|||||||||||||||||||||||||
RECONCILIATION OF NON-GAAP OPERATING INCOME AND EARNINGS PER SHARE(1)(2)(3) |
|||||||||||||||||||||||||
(In hundreds of thousands, besides per share quantities) |
|||||||||||||||||||||||||
12 months Ended December 31, 2021 |
|||||||||||||||||||||||||
GAAP |
Pension & OPEB MTM (Achieve) / Loss |
Restructuring and Different Prices |
Prices Related With Early Bond Redemption |
Non-GAAP |
|||||||||||||||||||||
Working Revenue |
$ |
345.8 |
$ |
— |
$ |
3.1 |
$ |
— |
$ |
349.0 |
|||||||||||||||
Different Revenue (Expense) |
49.9 |
(39.6 |
) |
— |
15.0 |
25.3 |
|||||||||||||||||||
Provision for Revenue Taxes |
(89.4 |
) |
9.1 |
(0.8 |
) |
(3.5 |
) |
(84.6 |
) |
||||||||||||||||
Internet Revenue |
306.3 |
(30.5 |
) |
2.4 |
11.5 |
289.6 |
|||||||||||||||||||
Internet Revenue Attributable to Noncontrolling Curiosity |
(0.4 |
) |
— |
— |
— |
(0.4 |
) |
||||||||||||||||||
Internet Revenue Attributable to BWXT |
$ |
305.9 |
$ |
(30.5 |
) |
$ |
2.4 |
$ |
11.5 |
289.2 |
|||||||||||||||
Diluted Shares Excellent |
94.5 |
94.5 |
|||||||||||||||||||||||
Diluted Earnings per Frequent Share |
$ |
3.24 |
$ |
(0.32 |
) |
$ |
0.03 |
$ |
0.12 |
$ |
3.06 |
||||||||||||||
Efficient Tax Price |
22.6 |
% |
22.6 |
% |
|||||||||||||||||||||
NOG Working Revenue |
$ |
308.6 |
$ |
0.2 |
$ |
308.8 |
|||||||||||||||||||
NPG Working Revenue |
$ |
52.5 |
$ |
0.9 |
$ |
53.5 |
|||||||||||||||||||
Unallocated Company Working Revenue |
$ |
(18.9 |
) |
$ |
2.1 |
$ |
(16.9 |
) |
12 months Ended December 31, 2020 |
|||||||||||||||||||||||||||||
GAAP |
Pension & OPEB MTM (Achieve) / Loss |
Restructuring Prices |
Prices Related with Sale of Enterprise |
Debt Issuance Prices |
One-time Franchise Tax Audit Expense |
Non-GAAP |
|||||||||||||||||||||||
Working Revenue |
$ |
358.6 |
$ |
— |
$ |
2.3 |
$ |
2.9 |
$ |
— |
$ |
2.6 |
$ |
366.3 |
|||||||||||||||
Different Revenue (Expense) |
3.6 |
6.4 |
— |
— |
0.5 |
— |
10.5 |
||||||||||||||||||||||
Provision for Revenue Taxes |
(83.0 |
) |
(1.6 |
) |
(0.6 |
) |
(0.7 |
) |
(0.1 |
) |
(0.6 |
) |
(86.5 |
) |
|||||||||||||||
Internet Revenue |
279.2 |
4.8 |
1.7 |
2.2 |
0.4 |
2.0 |
290.3 |
||||||||||||||||||||||
Internet Revenue Attributable to Noncontrolling Curiosity |
(0.5 |
) |
— |
— |
— |
— |
— |
(0.5 |
) |
||||||||||||||||||||
Internet Revenue Attributable to BWXT |
$ |
278.7 |
$ |
4.8 |
$ |
1.7 |
$ |
2.2 |
$ |
0.4 |
$ |
2.0 |
289.8 |
||||||||||||||||
Diluted Shares Excellent |
95.7 |
95.7 |
|||||||||||||||||||||||||||
Diluted Earnings per Frequent Share |
$ |
2.91 |
$ |
0.05 |
$ |
0.02 |
$ |
0.02 |
$ |
0.00 |
$ |
0.02 |
$ |
3.03 |
|||||||||||||||
Efficient Tax Price |
22.9 |
% |
23.0 |
% |
|||||||||||||||||||||||||
NPG Working Revenue |
$ |
52.0 |
$ |
2.3 |
$ |
54.2 |
|||||||||||||||||||||||
NSG Working Revenue |
$ |
26.4 |
$ |
1.0 |
$ |
27.4 |
|||||||||||||||||||||||
(1) |
Tables could not foot on account of rounding. |
||||||||||||||||||||||||||||
(2) |
BWXT is offering non-GAAP data relating to sure of its historic outcomes and steerage on future earnings per share to complement the outcomes offered in accordance with GAAP and it shouldn’t be thought-about superior to, or as an alternative to, the comparable GAAP measures. BWXT believes the non-GAAP measures present significant perception and transparency into the Firm’s operational efficiency and gives these measures to buyers to assist facilitate comparisons of working outcomes with prior durations and to help them in understanding BWXT’s ongoing operations. |
||||||||||||||||||||||||||||
(3) |
BWXT has not included a reconciliation of offered non-GAAP steerage to the comparable GAAP measures because of the issue of estimating any mark-to-market changes for pension and post-retirement advantages, that are decided on the finish of the yr. |
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EXHIBIT 1 (continued) |
|||||||||||||||||
BWX TECHNOLOGIES, INC. |
|||||||||||||||||
RECONCILIATION OF EBITDA(1)(2)(3) |
|||||||||||||||||
(In hundreds of thousands, besides per share quantities) |
|||||||||||||||||
Three Months Ended December 31, 2021 |
|||||||||||||||||
GAAP |
Pension & OPEB MTM (Achieve) / Loss |
Restructuring and Different Prices |
Non-GAAP |
||||||||||||||
Internet Revenue |
$ |
116.9 |
$ |
(30.5 |
) |
$ |
1.8 |
$ |
88.2 |
||||||||
Provision for Revenue Taxes |
30.2 |
(9.1 |
) |
0.6 |
21.7 |
||||||||||||
Different – web |
(51.9 |
) |
39.6 |
— |
(12.3 |
) |
|||||||||||
Curiosity Revenue |
(0.0 |
) |
— |
— |
— |
||||||||||||
Curiosity Expense |
7.0 |
— |
— |
7.0 |
|||||||||||||
Depreciation & Amortization |
18.6 |
— |
— |
$ |
18.6 |
||||||||||||
Adjusted EBITDA |
$ |
120.8 |
$ |
— |
$ |
2.4 |
$ |
123.2 |
12 months Ended December 31, 2021 |
|||||||||||||||||||
GAAP |
Pension & OPEB MTM (Achieve) / Loss |
Restructuring and Different Prices |
Prices Related With Early Bond Redemption |
Non-GAAP |
|||||||||||||||
Internet Revenue |
$ |
306.3 |
$ |
(30.5 |
) |
$ |
2.4 |
$ |
11.5 |
$ |
289.6 |
||||||||
Provision for Revenue Taxes |
89.4 |
(9.1 |
) |
0.8 |
3.5 |
84.6 |
|||||||||||||
Different – web |
(85.2 |
) |
39.6 |
— |
(10.8 |
) |
(56.4 |
) |
|||||||||||
Curiosity Revenue |
(0.4 |
) |
— |
— |
— |
(0.4 |
) |
||||||||||||
Curiosity Expense |
35.8 |
— |
— |
(4.2 |
) |
31.5 |
|||||||||||||
Depreciation & Amortization |
69.1 |
— |
— |
— |
$ |
69.1 |
|||||||||||||
Adjusted EBITDA |
$ |
414.9 |
$ |
— |
$ |
3.1 |
$ |
— |
$ |
418.1 |
(1) |
Tables could not foot on account of rounding. |
|||||||||||||||
(2) |
BWXT is offering non-GAAP data relating to sure of its historic outcomes and steerage on future earnings per share to complement the outcomes offered in accordance with GAAP and it shouldn’t be thought-about superior to, or as an alternative to, the comparable GAAP measures. BWXT believes the non-GAAP measures present significant perception and transparency into the Firm’s operational efficiency and gives these measures to buyers to assist facilitate comparisons of working outcomes with prior durations and to help them in understanding BWXT’s ongoing operations. |
|||||||||||||||
(3) |
BWXT has not included a reconciliation of offered non-GAAP steerage to the comparable GAAP measures because of the issue of estimating any mark-to-market changes for pension and post-retirement advantages, that are decided on the finish of the yr. |
|||||||||||||||
EXHIBIT 2 |
||||||||||||||||||||||||
BWX TECHNOLOGIES, INC. |
||||||||||||||||||||||||
NEW BUSINESS SEGMENT INFORMATION |
||||||||||||||||||||||||
Three Months Ended December 31, |
12 months Ended December 31, |
|||||||||||||||||||||||
3/31/2021 |
6/30/2021 |
9/30/2021 |
12/31/2021 |
2021 |
2020 |
|||||||||||||||||||
(Unaudited) (In hundreds) |
||||||||||||||||||||||||
REVENUES: |
||||||||||||||||||||||||
Authorities Operations |
$ |
423,275 |
$ |
405,497 |
$ |
417,139 |
$ |
479,186 |
$ |
1,725,097 |
$ |
1,763,127 |
||||||||||||
Business Operations |
107,398 |
101,842 |
83,382 |
114,460 |
407,082 |
371,269 |
||||||||||||||||||
Eliminations |
(2,400 |
) |
(2,240 |
) |
(1,794 |
) |
(1,671 |
) |
(8,105 |
) |
(10,880 |
) |
||||||||||||
TOTAL |
$ |
528,273 |
$ |
505,099 |
$ |
498,727 |
$ |
591,975 |
$ |
2,124,074 |
$ |
2,123,516 |
||||||||||||
SEGMENT INCOME: |
||||||||||||||||||||||||
Authorities Operations |
$ |
78,245 |
$ |
72,871 |
$ |
87,542 |
$ |
90,891 |
$ |
329,549 |
$ |
345,250 |
||||||||||||
Business Operations |
6,294 |
5,640 |
4,925 |
18,384 |
35,243 |
36,915 |
||||||||||||||||||
SUBTOTAL |
84,539 |
78,511 |
92,467 |
109,275 |
364,792 |
382,165 |
||||||||||||||||||
Unallocated Company |
(2,125 |
) |
(4,760 |
) |
(4,999 |
) |
(7,060 |
) |
(18,944 |
) |
(23,613 |
) |
||||||||||||
TOTAL |
$ |
82,414 |
$ |
73,751 |
$ |
87,468 |
$ |
102,215 |
$ |
345,848 |
$ |
358,552 |
||||||||||||
NON-GAAP SEGMENT INCOME: |
||||||||||||||||||||||||
Authorities Operations |
$ |
78,245 |
$ |
72,871 |
$ |
87,707 |
$ |
90,891 |
$ |
329,714 |
$ |
346,206 |
||||||||||||
Business Operations |
6,294 |
5,640 |
5,244 |
18,974 |
36,152 |
39,168 |
||||||||||||||||||
SUBTOTAL |
84,539 |
78,511 |
92,951 |
109,865 |
365,866 |
385,374 |
||||||||||||||||||
Unallocated Company |
(2,125 |
) |
(4,760 |
) |
(4,719 |
) |
(5,265 |
) |
(16,869 |
) |
(19,046 |
) |
||||||||||||
TOTAL |
$ |
82,414 |
$ |
73,751 |
$ |
88,232 |
$ |
104,600 |
$ |
348,997 |
$ |
366,328 |
||||||||||||
DEPRECIATION AND AMORTIZATION: |
||||||||||||||||||||||||
Authorities Operations |
$ |
9,171 |
$ |
10,334 |
$ |
10,928 |
$ |
12,052 |
$ |
42,485 |
$ |
35,398 |
||||||||||||
Business Operations |
4,917 |
5,037 |
4,985 |
4,945 |
19,884 |
18,431 |
||||||||||||||||||
Company |
1,809 |
1,724 |
1,571 |
1,607 |
6,711 |
6,845 |
||||||||||||||||||
TOTAL |
$ |
15,897 |
$ |
17,095 |
$ |
17,484 |
$ |
18,604 |
$ |
69,080 |
$ |
60,674 |
||||||||||||
CAPITAL EXPENDITURES: |
||||||||||||||||||||||||
Authorities Operations |
$ |
45,945 |
$ |
30,073 |
$ |
34,155 |
$ |
36,878 |
$ |
147,051 |
$ |
137,197 |
||||||||||||
Business Operations |
53,531 |
34,364 |
30,546 |
35,130 |
153,571 |
106,614 |
||||||||||||||||||
Company |
2,456 |
3,801 |
1,785 |
2,388 |
10,430 |
11,216 |
||||||||||||||||||
TOTAL |
$ |
101,932 |
$ |
68,238 |
$ |
66,486 |
$ |
74,396 |
$ |
311,052 |
$ |
255,027 |
||||||||||||
BACKLOG: |
||||||||||||||||||||||||
Authorities Operations |
$ |
4,495,617 |
$ |
4,174,767 |
$ |
3,813,289 |
$ |
4,532,170 |
$ |
4,532,170 |
$ |
3,680,126 |
||||||||||||
Business Operations |
697,169 |
674,287 |
687,806 |
643,866 |
643,866 |
725,702 |
||||||||||||||||||
TOTAL |
$ |
5,192,786 |
$ |
4,849,054 |
$ |
4,501,095 |
$ |
5,176,036 |
$ |
5,176,036 |
$ |
4,405,828 |
||||||||||||
BOOKINGS: |
||||||||||||||||||||||||
Authorities Operations |
$ |
1,236,546 |
$ |
82,751 |
$ |
53,989 |
$ |
1,196,527 |
$ |
2,569,813 |
$ |
889,844 |
||||||||||||
Business Operations |
78,685 |
78,616 |
96,780 |
70,387 |
324,468 |
239,104 |
||||||||||||||||||
TOTAL |
$ |
1,315,231 |
$ |
161,367 |
$ |
150,769 |
$ |
1,266,914 |
$ |
2,894,281 |
$ |
1,128,948 |
View supply model on businesswire.com: https://www.businesswire.com/information/house/20220222005941/en/
Contacts
Investor Contact:
Mark Kratz
Director, Investor Relations
980-365-4300
Buyers@bwxt.com
Media Contact:
Jud Simmons
Director, Media and Public Relations
434-522-6462
hjsimmons@bwxt.com
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