BWX Technologies Reports 18% Q4 Revenue Jump to $1.05B, Expands SMR Capacity
BWXT Technologies posted record Q4 2025 revenue of $1.05 billion, an 18% year-over-year increase driven by its nuclear components and defense services segments. The company cited a project backlog of $12.8 billion and announced plans to expand small modular reactor manufacturing capacity.
1. Q4 Financial Results
BWXT delivered record fourth-quarter revenue of $1.05 billion, up 18% from $890 million a year earlier. Operating income rose 22% to $145 million, reflecting strong margin expansion in its nuclear operations and defense services businesses.
2. Strategic SMR Expansion
Management detailed a strategic investment plan to increase small modular reactor (SMR) component production by 30% over the next 12 months, including a new tooling line at its Lynchburg, Virginia facility. The move aims to support anticipated government and commercial SMR orders.
3. Project Backlog
The company’s firm project backlog reached $12.8 billion at year-end, fueled by recent awards for nuclear fuel systems and naval reactor contracts. Key contracts include a multiyear naval reactor support deal and a domestic SMR demonstration project.
4. Outlook and Guidance
BWXT reaffirmed full-year 2026 revenue guidance of $4.1 billion to $4.3 billion, projecting mid-single-digit growth and operating margins of 13% to 14%. Management signaled potential upside from accelerated SMR demand and defense spending increases.