EarningsQ2 2026 Earnings Report
MX:BWXT Q2 2026 EPS Results
Actual EPS$18.43
Consensus EPS$17.97
Beat/MissBeat by +$0.47
One Year Ago EPS$17.57
MX:BWXT Q2 2026 Revenue Results
Actual Revenue$15.53B
Expected Revenue$15.54B
Beat/MissMissed by -$13.11M
YoY Revenue Growth+18.04%
Earnings Announcement Details
QuarterQ2 2026
Date06/30/2026
TimeAfter Close
Conference CallTuesday, June 30, 2026
MX:BWXT Upcoming Earnings
BWX Technologies's next earnings date is estimated for November 9, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a clearly positive operational and financial momentum: strong top-line growth (18% quarterly, commercial +72%), backlog up 40% YoY, upgraded cash flow and EBITDA guidance, major strategic actions (PCG acquisition, medical divestiture), and technical milestones (TRISO/Antares criticality, centrifuge prototype). Headwinds are mainly strategic investments that will pressure near-term margins (commercial capacity build, higher CapEx), some accounting-driven revisions to government revenue growth, TRISO demand uncertainty pending firm orders, and modest sequential backlog timing effects. Overall the positives (robust revenue/EBITDA growth, backlog, cash generation, strategic deals and milestones) substantially outweigh the identified challenges.Company Guidance
Quarterly Revenue Growth
Q2 revenue was $902 million, up 18% year-over-year, including 9% organic growth.
Profitability and EPS Expansion
Adjusted EBITDA increased 7% to approximately $155 million and adjusted EPS rose 5% to $1.07 for the quarter.
Commercial Operations Surge
Commercial Operations revenue rose 72% year-over-year (33% organic) and adjusted EBITDA more than doubled (+123%) to $36 million; segment margin was 11.9%.
Government Operations Stability and Margin Strength
Government Operations revenue increased 2% and segment adjusted EBITDA was $126 million with a 20.9% margin driven by operational execution and productivity gains.
Backlog and Demand Momentum
Backlog was $8.4 billion, up 40% year-over-year, with a trailing 12-month book-to-bill of 1.7x, indicating strong multi-year customer demand.
Cash Generation and Upgraded Free Cash Flow Guidance
Q2 free cash flow was $115 million and full-year free cash flow guidance was raised by $30 million to a range of $345–$360 million.
Upgraded Full-Year Financial Guidance
Updated 2026 revenue expectation of approximately $3.8 billion (high-teens growth); adjusted EBITDA guidance raised by ~$10 million at the midpoint to $662–$672 million; updated non-GAAP EPS guidance of $4.70–$4.80.
Strategic M&A and Portfolio Actions
Completed acquisition of Precision Components Group (early July) to expand U.S. manufacturing capabilities and announced sale of medical business to Nordic Capital for $750M with potential to reach $800M while retaining a ~20% equity stake.
Technology & Program Milestones
Antares Mark-0 reactor achieved criticality using BWXT-supplied TRISO fuel and HALEU; Centrifuge Manufacturing Development Facility is on schedule to deliver an operational prototype centrifuge this year; awarded $21M DOE grant to support U.S. manufacturing expansion.
MX:BWXT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed