Here is why BWX Technologies Inc. (BWXT) stock plunged in the after-hours on Monday?

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BWX Technologies Inc. (BWXT) shares plunged 8.87% in after-hours on Monday, November 1, 2021, and closed the daily trading at $52.50. However, in regular trading, BWXT’s stock gained 1.53%. BWXT shares have risen by 4.73% over the last 12 months, and they have moved down 1.22% in the past week. Over the past three months, the stock has gained 4.42%, while over the past six months, it has lost 14.25%.

Let’s discuss its recent news and developments.

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BWXT latest development

On November 01, 2021, BWX Technologies, Inc. (BWXT) reported its third-quarter 2021financial results which ended on September 30, 2021.

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Q3 2021 financial highlights

  • BWXT reported revenue of $499 million in Q3 2021 compared to $520 million in the third quarter of 2020.
  • Total cost and expenses were $421.88 million in Q3 2021 compared to $439.4 million in Q3 2020.
  • The Company generated $67.3 million of cash from operating activities in the third quarter of 2021, compared with $7.5 million of net cash utilized in the third quarter of 2020.
  • It earned GAAP net income of $59.9 million, or $0.63 per diluted share in Q3 2021, compared with GAAP net income of $73.2 million, or $0.76 per diluted share in Q3 2020.
  • As of September 30, 2021, the Company’s cash balance, net of restricted cash, was $69.4 million.

FY 2021 financial guidance

  • For FY 2021, the company is expecting non-GAAP EPS in the range of $3.05 to $3.20.
  • Capital expenditures of ~$280 million.

BWXT Dividend Declaration

On October 28, 2021, the BWXT Board of Directors declared a quarterly cash dividend of $0.21 per common share. The dividend will be payable on December 10, 2021, to shareholders of record on November 19, 2021.

BWXT Environmental Management Contract

On October 28, 2021, BWX Technologies, Inc. (BWXT) announced a contract with an estimated ceiling of approximately $21 billion over a 10-year ordering period from the U.S. Department of Energy (DOE) for environmental management operations at the Savannah River Site (SRS) in South Carolina.

The company will do liquid waste stabilization/disposition and potentially nuclear materials management and stabilization, among other requirements as per contract details.

BWXT Medical agreement with Bayer AG

On September 16, 2021, BWXT Medical Ltd which is a subsidiary of BWX Technologies, Inc, signed an agreement with Bayer AG (Bayer) to develop Actinium-225 (Ac-225) supply. Both companies will further collaborate on finished products as both companies broaden their respective commercialization strategies for targeted radionuclide therapies (TRTs) and other innovative products.

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The recent financial results missed the revenue estimates due to which its shares declined in the after-hours on Monday. We hope that it will return towards positivity in the coming trading sessions.


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