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8-K - 8-K - BWX Technologies, Inc. | bwxt-20210802.htm |
BWX Technologies Reports Second Quarter 2021 Results and Continues Progress On Future Growth Milestones
•Generates 2Q21 earnings of $0.62 per share on consolidated revenue of $505 million
•Reiterates 2021 guidance: non-GAAP earnings range of $3.05 to $3.20 per share
•Continues progress on Technetium-99m commercialization
•Secures award for next phase of Nuclear Thermal Propulsion Program with NASA
•Sets date for Investor Day in New York City on November 16, 2021
Lynchburg, VA – August 2, 2021 - BWX Technologies, Inc. (NYSE: BWXT) ("BWXT", "we", "us" or the "Company") reported second quarter 2021 revenue of $505 million, about even compared with $505 million in the second quarter 2020. Net income for the second quarter 2021 was $59.3 million, or $0.62 per diluted share, compared with GAAP net income of $64.3 million, or $0.67 per diluted share and non-GAAP net income of $67.7 million, or $0.71 per diluted share, in the prior-year period. A reconciliation of non-GAAP results is detailed in Exhibit 1.
“BWXT delivered on another solid quarter as we prepared for a strong second half of the year” said Rex D. Geveden, president and chief executive officer. "We are where we anticipated to be at the midpoint of 2021 and have line-of-sight on the remaining work to accomplish in the year, resulting in us reiterating financial guidance across the board.”
“The Company’s execution is exemplified by the strength we see across the core businesses including the Nuclear Operations Group’s stability as it ramps up on the Columbia program, consistent deliveries of large nuclear power components to enable Canadian clean energy, and the strong proposals submitted at important DOE nuclear sites that we anticipate will lead to wins later this year. At BWXT’s investor day in November, we are excited to share more insight into the strategy and trends across the core businesses while also highlighting emerging opportunities in nuclear medicine, advanced reactors and nuclear fuel that further support the Company’s medium and long-term growth outlook.” said Geveden.
Segment Results
Nuclear Operations Group (NOG) segment revenue was $381 million for the second quarter 2021, a 7% decrease from the prior-year period, driven by higher production volume which was more than offset by lower long-lead material production. NOG operating income was $69.2 million in the second quarter 2021, a 20% decrease compared with the prior-year period driven by lower revenue and fewer favorable contract adjustments due to timing of certain milestones, resulting in second quarter 2021 segment operating margin of 18.1%.
Nuclear Power Group (NPG) segment revenue was $102 million for the second quarter 2021, a 50% increase from the prior-year period primarily due to higher volume of field services, higher fuel and fuel handling activity, and higher volume of medical isotope demand. NPG operating income was $10.8 million for the second quarter 2021, a significant increase compared with the prior-year period on both a GAAP and non-GAAP basis, driven primarily from higher revenue in commercial nuclear power and
BWXT medical, and incremental funds received under the Canadian COVID-19 Economic Response Plan to offset incurred expenses related to the pandemic. Second quarter 2021 segment operating margin was 10.6%.
Nuclear Services Group (NSG) segment operating income was $5.8 million for the second quarter 2021, up 40% compared with $4.1 million of GAAP operating income and up 13% compared with $5.1 million of non-GAAP operating income in the second quarter 2020 driven by better project performance partially offset by the absence of contracts that completed in 2020.
Cash and Capital Returned to Shareholders
The Company generated $59.9 million of cash from operating activities in the second quarter 2021, compared with $162 million in the second quarter 2020. As of June 30, 2021, the Company’s cash balance, net of restricted cash, was $191 million.
On July 30, 2021, the BWXT Board of Directors declared a quarterly cash dividend of $0.21 per common share. The dividend will be payable on September 8, 2021, to shareholders of record on August 19, 2021.
During the second quarter 2021, the Company returned $20.0 million of cash to shareholders in dividends, resulting in a total of $60.3 million of cash returned to shareholders year-to-date, including $20.0 million in share repurchases and $40.3 million in dividends.
2021 Guidance
BWXT reiterated all components of 2021 guidance:
•Non-GAAP EPS range of $3.05 – $3.20 (excludes pension and post-retirement benefits mark-to-market)
•Consolidated revenue growth of low-single digits vs. 2020 results
•NOG revenue up slightly
•NPG revenue growth of ~6%
•Non-GAAP operating income and margin
•NOG operating margin of “high teens” with upside from CAS pension reimbursement
•NPG operating margin of ~13%
•NSG operating income range of $25-30 million
•Capital expenditures of ~$250 million
The Company does not provide GAAP guidance because it is unable to reliably forecast most of the items that are excluded from GAAP to calculate non-GAAP results. These items could cause GAAP results to differ materially from non-GAAP results. See reconciliation of non-GAAP results in Exhibit 1 for additional information.
Conference Call to Discuss Second Quarter 2021 Results
Date: Monday, August 2, 2021, at 5:00 p.m. EDT
Live Webcast: Investor Relations section of website at www.bwxt.com
Full Earnings Release Available on BWXT Website
A full version of this earnings release is available on our Investor Relations website at http://investors.bwxt.com/q22021-release
BWXT may use its website (www.bwxt.com) as a channel of distribution of material Company information. Financial and other important information regarding BWXT is routinely accessible through and posted on our website. In addition, you may elect to automatically receive e-mail alerts and other information about BWXT by enrolling through the “Email Alerts” section of our website at http://investors.bwxt.com.
Forward-Looking Statements
BWXT cautions that this release contains forward-looking statements, including, without limitation, statements relating to backlog, to the extent they may be viewed as an indicator of future revenues; our plans and expectations for the NOG, NPG and NSG segments including the expectations, timing and revenue of our strategic initiatives, such as medical radioisotopes; disruptions to our supply chain and/or operations, changes in government regulations and other factors, including any such impacts of, or actions in response to the COVID-19 health crisis; and our expectations for 2021 and beyond. These forward-looking statements are based on management’s current expectations and involve a number of risks and uncertainties, including, among other things, our ability to execute contracts in backlog; the lack of, or adverse changes in, federal appropriations to government programs in which we participate; the demand for and competitiveness of nuclear products and services; capital priorities of power generating utilities; the impact of COVID-19 on our employees, contractors, suppliers, customers and other partners and their business activities; the extent to which the length and severity of the COVID-19 health crisis exceeds our current expectations; the potential recurrence of subsequent waves or strains of COVID-19 or similar diseases; adverse changes in the industries in which we operate and delays, changes or termination of contracts in backlog. If one or more of these risks or other risks materialize, actual results may vary materially from those expressed. For a more complete discussion of these and other risk factors, see BWXT’s filings with the Securities and Exchange Commission, including our annual report on Form 10-K for the year ended December 31, 2020 and subsequent quarterly reports on Form 10-Q. BWXT cautions not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and undertakes no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.
About BWXT
At BWX Technologies, Inc. (NYSE: BWXT), we are People Strong, Innovation Driven. Headquartered in Lynchburg, Va., BWXT provides safe and effective nuclear solutions for global security, clean energy, environmental remediation, nuclear medicine and space exploration. With approximately 6,700 employees, BWXT has 12 major operating sites in the U.S. and Canada. In addition, BWXT joint ventures provide management and operations at more than a dozen U.S. Department of Energy and NASA facilities. Follow us on Twitter at @BWXT and learn more at www.bwxt.com
Investor Contact: | Media Contact: | |||||||||||||
Mark Kratz | Jud Simmons | |||||||||||||
Vice President, Investor Relations | Director, Media and Public Relations | |||||||||||||
980-365-4300 | Investors@bwxt.com | 434-522-6462 | hjsimmons@bwxt.com |
EXHIBIT 1
BWX TECHNOLOGIES, INC.
RECONCILIATION OF NON-GAAP OPERATING INCOME AND EARNINGS PER SHARE(1)(2)(3)
Three Months Ended June 30, 2020 | |||||||||||||||||||||||||||||||||||
GAAP | Restructuring Costs | Costs Associated with Sale of Business | Debt Issuance Costs | Non-GAAP | |||||||||||||||||||||||||||||||
Operating Income | $ | 82.4 | $ | 1.3 | $ | 2.7 | $ | — | $ | 86.4 | |||||||||||||||||||||||||
Other Income (Expense) | 1.6 | — | — | 0.5 | 2.2 | ||||||||||||||||||||||||||||||
Provision for Income Taxes | (19.7) | (0.3) | (0.6) | (0.1) | (20.8) | ||||||||||||||||||||||||||||||
Net Income | 64.4 | 0.9 | 2.1 | 0.4 | 67.8 | ||||||||||||||||||||||||||||||
Net Income Attributable to Noncontrolling Interest | (0.1) | — | — | — | (0.1) | ||||||||||||||||||||||||||||||
Net Income Attributable to BWXT | $ | 64.3 | $ | 0.9 | $ | 2.1 | $ | 0.4 | $ | 67.7 | |||||||||||||||||||||||||
Diluted Shares Outstanding | 95.6 | 95.6 | |||||||||||||||||||||||||||||||||
Diluted Earnings per Common Share | $ | 0.67 | $ | 0.01 | $ | 0.02 | $ | 0.00 | $ | 0.71 | |||||||||||||||||||||||||
Effective Tax Rate | 23.4% | 23.4% | |||||||||||||||||||||||||||||||||
NPG Operating Income | $ | 1.1 | $ | 1.3 | $ | — | $ | — | $ | 2.4 | |||||||||||||||||||||||||
NSG Operating Income | $ | 4.1 | $ | — | $ | 1.0 | $ | — | $ | 5.1 |
(1) | Tables may not foot due to rounding. | ||||||||||||||||||||||||||||||||||||||||||||||
(2) | BWXT is providing non-GAAP information regarding certain of its historical results and guidance on future earnings per share to supplement the results provided in accordance with GAAP and it should not be considered superior to, or as a substitute for, the comparable GAAP measures. BWXT believes the non-GAAP measures provide meaningful insight and transparency into the Company’s operational performance and provides these measures to investors to help facilitate comparisons of operating results with prior periods and to assist them in understanding BWXT's ongoing operations. | ||||||||||||||||||||||||||||||||||||||||||||||
(3) | BWXT has not included a reconciliation of provided non-GAAP guidance to the comparable GAAP measures due to the difficulty of estimating any mark-to-market adjustments for pension and post-retirement benefits, which are determined at the end of the year. | ||||||||||||||||||||||||||||||||||||||||||||||
BWX TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
ASSETS
June 30, 2021 | December 31, 2020 | |||||||||||||
(Unaudited) (In thousands) | ||||||||||||||
Current Assets: | ||||||||||||||
Cash and cash equivalents | $ | 190,752 | $ | 42,610 | ||||||||||
Restricted cash and cash equivalents | 3,071 | 3,070 | ||||||||||||
Investments | 3,300 | 3,707 | ||||||||||||
Accounts receivable – trade, net | 61,107 | 153,368 | ||||||||||||
Accounts receivable – other | 37,741 | 22,239 | ||||||||||||
Retainages | 50,982 | 55,172 | ||||||||||||
Contracts in progress | 530,904 | 449,176 | ||||||||||||
Other current assets | 44,795 | 44,256 | ||||||||||||
Total Current Assets | 922,652 | 773,598 | ||||||||||||
Property, Plant and Equipment, Net | 942,128 | 816,471 | ||||||||||||
Investments | 10,064 | 9,356 | ||||||||||||
Goodwill | 287,935 | 283,708 | ||||||||||||
Deferred Income Taxes | 31,710 | 49,415 | ||||||||||||
Investments in Unconsolidated Affiliates | 78,135 | 71,806 | ||||||||||||
Intangible Assets | 192,902 | 192,751 | ||||||||||||
Other Assets | 100,876 | 96,398 | ||||||||||||
TOTAL | $ | 2,566,402 | $ | 2,293,503 |
BWX TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
LIABILITIES AND STOCKHOLDERS' EQUITY
June 30, 2021 | December 31, 2020 | |||||||||||||
(Unaudited) (In thousands, except share and per share amounts) | ||||||||||||||
Current Liabilities: | ||||||||||||||
Current portion of long-term debt | $ | 400,000 | $ | — | ||||||||||
Bank overdraft | — | 88,694 | ||||||||||||
Accounts payable | 143,878 | 184,392 | ||||||||||||
Accrued employee benefits | 70,322 | 89,740 | ||||||||||||
Accrued liabilities – other | 76,564 | 78,028 | ||||||||||||
Advance billings on contracts | 105,242 | 83,581 | ||||||||||||
Accrued warranty expense | 5,637 | 5,292 | ||||||||||||
Total Current Liabilities | 801,643 | 529,727 | ||||||||||||
Long-Term Debt | 784,111 | 862,731 | ||||||||||||
Accumulated Postretirement Benefit Obligation | 25,245 | 25,689 | ||||||||||||
Environmental Liabilities | 92,032 | 84,153 | ||||||||||||
Pension Liability | 122,084 | 144,859 | ||||||||||||
Other Liabilities | 32,200 | 28,576 | ||||||||||||
Commitments and Contingencies | ||||||||||||||
Stockholders' Equity: | ||||||||||||||
Common stock, par value $0.01 per share, authorized 325,000,000 shares; issued 127,287,679 and 127,009,536 shares at June 30, 2021 and December 31, 2020, respectively | 1,273 | 1,270 | ||||||||||||
Preferred stock, par value $0.01 per share, authorized 75,000,000 shares; No shares issued | — | — | ||||||||||||
Capital in excess of par value | 164,926 | 153,800 | ||||||||||||
Retained earnings | 1,638,709 | 1,549,950 | ||||||||||||
Treasury stock at cost, 32,121,418 and 31,698,747 shares at June 30, 2021 and December 31, 2020, respectively | (1,120,204) | (1,095,452) | ||||||||||||
Accumulated other comprehensive income (loss) | 24,293 | 8,198 | ||||||||||||
Stockholders' Equity – BWX Technologies, Inc. | 708,997 | 617,766 | ||||||||||||
Noncontrolling interest | 90 | 2 | ||||||||||||
Total Stockholders' Equity | 709,087 | 617,768 | ||||||||||||
TOTAL | $ | 2,566,402 | $ | 2,293,503 |
BWX TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
(Unaudited) (In thousands, except share and per share amounts) | ||||||||||||||||||||||||||
Revenues | $ | 505,099 | $ | 504,520 | $ | 1,033,372 | $ | 1,046,728 | ||||||||||||||||||
Costs and Expenses: | ||||||||||||||||||||||||||
Cost of operations | 375,817 | 367,534 | 768,623 | 759,977 | ||||||||||||||||||||||
Research and development costs | 3,505 | 4,029 | 6,621 | 8,632 | ||||||||||||||||||||||
Losses (gains) on asset disposals and impairments, net | (29) | 299 | (37) | 299 | ||||||||||||||||||||||
Selling, general and administrative expenses | 59,318 | 55,137 | 117,579 | 108,095 | ||||||||||||||||||||||
Total Costs and Expenses | 438,611 | 426,999 | 892,786 | 877,003 | ||||||||||||||||||||||
Equity in Income of Investees | 7,263 | 4,913 | 15,579 | 10,976 | ||||||||||||||||||||||
Operating Income | 73,751 | 82,434 | 156,165 | 180,701 | ||||||||||||||||||||||
Other Income (Expense): | ||||||||||||||||||||||||||
Interest income | 77 | 61 | 209 | 292 | ||||||||||||||||||||||
Interest expense | (10,203) | (7,865) | (17,242) | (15,832) | ||||||||||||||||||||||
Other – net | 15,306 | 9,450 | 31,692 | 17,367 | ||||||||||||||||||||||
Total Other Income (Expense) | 5,180 | 1,646 | 14,659 | 1,827 | ||||||||||||||||||||||
Income before Provision for Income Taxes | 78,931 | 84,080 | 170,824 | 182,528 | ||||||||||||||||||||||
Provision for Income Taxes | 19,522 | 19,684 | 41,600 | 42,512 | ||||||||||||||||||||||
Net Income | $ | 59,409 | $ | 64,396 | $ | 129,224 | $ | 140,016 | ||||||||||||||||||
Net Income Attributable to Noncontrolling Interest | (62) | (138) | (128) | (259) | ||||||||||||||||||||||
Net Income Attributable to BWX Technologies, Inc. | $ | 59,347 | $ | 64,258 | $ | 129,096 | $ | 139,757 | ||||||||||||||||||
Earnings per Common Share: | ||||||||||||||||||||||||||
Basic: | ||||||||||||||||||||||||||
Net Income Attributable to BWX Technologies, Inc. | $ | 0.62 | $ | 0.67 | $ | 1.35 | $ | 1.46 | ||||||||||||||||||
Diluted: | ||||||||||||||||||||||||||
Net Income Attributable to BWX Technologies, Inc. | $ | 0.62 | $ | 0.67 | $ | 1.35 | $ | 1.46 | ||||||||||||||||||
Shares used in the computation of earnings per share: | ||||||||||||||||||||||||||
Basic | 95,354,932 | 95,457,629 | 95,329,330 | 95,434,990 | ||||||||||||||||||||||
Diluted | 95,529,189 | 95,633,571 | 95,544,026 | 95,694,972 |
BWX TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
Six Months Ended June 30, | ||||||||||||||
2021 | 2020 | |||||||||||||
(Unaudited) (In thousands) | ||||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||||||||
Net Income | $ | 129,224 | $ | 140,016 | ||||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||||
Depreciation and amortization | 32,992 | 30,565 | ||||||||||||
Income of investees, net of dividends | (5,874) | (927) | ||||||||||||
Provision for deferred taxes | — | — | ||||||||||||
Recognition of losses for pension and postretirement plans | 1,475 | 1,553 | ||||||||||||
Stock-based compensation expense | 9,273 | 7,477 | ||||||||||||
Other, net | 1,548 | 2,025 | ||||||||||||
Changes in assets and liabilities, net of effects from acquisitions: | ||||||||||||||
Accounts receivable | 93,503 | (2,433) | ||||||||||||
Accounts payable | (16,875) | (6,641) | ||||||||||||
Retainages | 4,308 | (76) | ||||||||||||
Contracts in progress and advance billings on contracts | (53,649) | (27,560) | ||||||||||||
Income taxes | 876 | 39,098 | ||||||||||||
Accrued and other current liabilities | 411 | 2,612 | ||||||||||||
Pension liabilities, accrued postretirement benefit obligations and employee benefits | (44,746) | (32,996) | ||||||||||||
Other, net | 5,857 | 2,917 | ||||||||||||
NET CASH PROVIDED BY OPERATING ACTIVITIES | 158,323 | 155,630 | ||||||||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||||||||
Purchases of property, plant and equipment | (170,170) | (115,477) | ||||||||||||
Acquisition of business | — | (16,174) | ||||||||||||
Purchases of securities | (2,378) | (2,159) | ||||||||||||
Sales and maturities of securities | 2,764 | 4,305 | ||||||||||||
Investments, net of return of capital, in equity method investees | — | 88 | ||||||||||||
Other, net | 182 | — | ||||||||||||
NET CASH USED IN INVESTING ACTIVITIES | (169,602) | (129,417) | ||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||||||||
Borrowings of long-term debt | 625,800 | 643,000 | ||||||||||||
Repayments of long-term debt | (300,800) | (628,176) | ||||||||||||
Payment of debt issuance costs | (4,838) | (6,310) | ||||||||||||
Repayment of bank overdraft | (88,694) | — | ||||||||||||
Repurchases of common shares | (20,007) | (20,000) | ||||||||||||
Dividends paid to common shareholders | (40,326) | (36,764) | ||||||||||||
Exercises of stock options | 2,011 | 1,790 | ||||||||||||
Cash paid for shares withheld to satisfy employee taxes | (4,745) | (5,044) | ||||||||||||
Other, net | (8,979) | 1,137 | ||||||||||||
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | 159,422 | (50,367) | ||||||||||||
EFFECTS OF EXCHANGE RATE CHANGES ON CASH | 64 | (690) | ||||||||||||
TOTAL INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AND CASH EQUIVALENTS | 148,207 | (24,844) | ||||||||||||
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 48,298 | 92,400 | ||||||||||||
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AND CASH EQUIVALENTS AT END OF PERIOD | $ | 196,505 | $ | 67,556 | ||||||||||
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||||||||||||||
Cash paid during the period for: | ||||||||||||||
Interest | $ | 20,270 | $ | 17,923 | ||||||||||
Income taxes (net of refunds) | $ | 40,661 | $ | 3,274 | ||||||||||
SCHEDULE OF NON-CASH INVESTING ACTIVITY: | ||||||||||||||
Accrued capital expenditures included in accounts payable | $ | 26,328 | $ | 17,235 |
BWX TECHNOLOGIES, INC.
BUSINESS SEGMENT INFORMATION
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
(Unaudited) (In thousands) | ||||||||||||||||||||||||||
REVENUES: | ||||||||||||||||||||||||||
Nuclear Operations Group | $ | 381,342 | $ | 410,252 | $ | 783,410 | $ | 834,027 | ||||||||||||||||||
Nuclear Power Group | 101,842 | 67,983 | 209,240 | 155,900 | ||||||||||||||||||||||
Nuclear Services Group | 30,134 | 33,328 | 55,617 | 70,093 | ||||||||||||||||||||||
Eliminations | (8,219) | (7,043) | (14,895) | (13,292) | ||||||||||||||||||||||
TOTAL | $ | 505,099 | $ | 504,520 | $ | 1,033,372 | $ | 1,046,728 | ||||||||||||||||||
SEGMENT INCOME: | ||||||||||||||||||||||||||
Nuclear Operations Group | $ | 69,157 | $ | 85,972 | $ | 143,517 | $ | 176,331 | ||||||||||||||||||
Nuclear Power Group | 10,840 | 1,102 | 21,158 | 9,572 | ||||||||||||||||||||||
Nuclear Services Group | 5,760 | 4,122 | 11,507 | 10,522 | ||||||||||||||||||||||
Other | (7,246) | (5,600) | (13,132) | (10,959) | ||||||||||||||||||||||
SUBTOTAL | 78,511 | 85,596 | 163,050 | 185,466 | ||||||||||||||||||||||
Unallocated Corporate | (4,760) | (3,162) | (6,885) | (4,765) | ||||||||||||||||||||||
TOTAL | $ | 73,751 | $ | 82,434 | $ | 156,165 | $ | 180,701 | ||||||||||||||||||
DEPRECIATION AND AMORTIZATION: | ||||||||||||||||||||||||||
Nuclear Operations Group | $ | 9,850 | $ | 8,466 | $ | 18,538 | $ | 16,875 | ||||||||||||||||||
Nuclear Power Group | 5,009 | 4,385 | 9,899 | 8,855 | ||||||||||||||||||||||
Nuclear Services Group | 243 | 336 | 485 | 1,293 | ||||||||||||||||||||||
Other | 269 | 26 | 537 | 53 | ||||||||||||||||||||||
Corporate | 1,724 | 1,738 | 3,533 | 3,489 | ||||||||||||||||||||||
TOTAL | $ | 17,095 | $ | 14,951 | $ | 32,992 | $ | 30,565 | ||||||||||||||||||
CAPITAL EXPENDITURES: | ||||||||||||||||||||||||||
Nuclear Operations Group | $ | 29,364 | $ | 24,045 | $ | 75,128 | $ | 65,927 | ||||||||||||||||||
Nuclear Power Group | 34,364 | 23,552 | 87,895 | 43,747 | ||||||||||||||||||||||
Nuclear Services Group | 709 | — | 890 | 664 | ||||||||||||||||||||||
Other | — | 235 | — | 235 | ||||||||||||||||||||||
Corporate | 3,801 | 2,877 | 6,257 | 4,904 | ||||||||||||||||||||||
TOTAL | $ | 68,238 | $ | 50,709 | $ | 170,170 | $ | 115,477 |
BWX TECHNOLOGIES, INC.
BUSINESS SEGMENT INFORMATION
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
(Unaudited) (In thousands) | ||||||||||||||||||||||||||
BACKLOG: | ||||||||||||||||||||||||||
Nuclear Operations Group | $ | 4,132,541 | $ | 3,913,860 | $ | 4,132,541 | $ | 3,913,860 | ||||||||||||||||||
Nuclear Power Group | 674,287 | 771,407 | 674,287 | 771,407 | ||||||||||||||||||||||
Nuclear Services Group | 42,226 | 43,116 | 42,226 | 43,116 | ||||||||||||||||||||||
TOTAL | $ | 4,849,054 | $ | 4,728,383 | $ | 4,849,054 | $ | 4,728,383 | ||||||||||||||||||
BOOKINGS: | ||||||||||||||||||||||||||
Nuclear Operations Group | $ | 64,782 | $ | 40,809 | $ | 1,254,363 | $ | 231,581 | ||||||||||||||||||
Nuclear Power Group | 78,616 | 60,850 | 157,301 | 69,718 | ||||||||||||||||||||||
Nuclear Services Group | 17,969 | 35,939 | 64,934 | 73,416 | ||||||||||||||||||||||
TOTAL | $ | 161,367 | $ | 137,598 | $ | 1,476,598 | $ | 374,715 |