BWX Technologies, Inc. · BWXT · FY2026 Q1 · Calendar Q2 2026

BWXT raises FY2026 outlook as backlog and commercial nuclear demand grow

BWXT’s earnings analysis supports a constructive growth outlook: a larger backlog, commercial nuclear demand and higher FY2026 guidance provide support, while delivery, capacity and regulatory execution remain important risks.

Reported After market closeNYSEIndustrials $11.95B market cap
90quality score

Earnings scorecard

Reported versus consensus
Reported EPS $1.12 Consensus $0.92
EPS surprise +21.7% Reported versus consensus
Reported revenue $860.2M Consensus $837.5M
Revenue surprise +2.7% Reported versus consensus

Market reaction

event-close to next-session close
Stock move -4.9% Event window
SPY move +0.8% Same window
Abnormal move -5.7% Stock minus SPY
Volume 1.8× Versus trailing sessions
Subsequent drift -10.4% Up to 20 sessions
BWXTSPY benchmark

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Transcript intelligence

What changed

The reported quarter exceeded EPS and revenue estimates, and management raised full-year revenue, EBITDA and EPS guidance. The analysis also describes commercial revenue growth and a materially larger backlog; no prior-quarter analysis was available for a direct quarter-over-quarter comparison.

Guidance delta

Management raised FY2026 guidance to revenue of at least $3.75 billion, EBITDA of $650–$665 million and EPS of $4.60–$4.75.

Key takeaways

  • Q1 revenue and EPS exceeded estimates.
  • Commercial revenue grew 121% year over year; backlog reached $8.7 billion, up 77% year over year.
  • Management raised FY2026 revenue, EBITDA and EPS guidance.
  • Expansion plans include the PCG acquisition, a Mount Vernon facility and a planned Wyoming TRISO fuel plant.

Management priorities

  • Integrate Precision Components Group and use its capacity for commercial projects.
  • Build capacity at Mount Vernon and develop large-scale TRISO fuel production in Wyoming.
  • Pursue commercial reactor, defense, medical-isotope and space-nuclear opportunities.

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Earnings History

Estimate Beat Miss Match
BWXT EPS earnings history estimate and actual scatter chart 10 reported fiscal quarters and 2 future estimate-only quarters. Q2 '24 estimate $0.75 Q2 '24 actual $0.82, beat Q3 '24 estimate $0.78 Q3 '24 actual $0.83, beat Q2 '25 estimate $0.79 Q2 '25 actual $1.02, beat Q3 '25 estimate $0.85 Q3 '25 actual $1.00, beat Q4 '25 estimate $0.89 Q4 '25 actual $1.08, beat Q1 '26 estimate $0.92 Q1 '26 actual $1.12, beat Q2 '26 estimate $1.04 Q2 '26 actual $1.07, beat Q3 '26 estimate $1.18 Q3 '26 actual $1.26, beat Q4 '26 estimate $1.33 Q1 '27 estimate $1.18
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Analyst Consensus ?

ConsensusBuy20 ratings
Bullish1470.0%
Neutral525.0%
Bearish15.0%

Analyst 52W Price Targets

$130.47Previous close
$70Low
$191.54Average
$255High

Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Nov 3, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
JP Morgan Overweight OverweightMaintainOct 13, 2026
Truist Securities Hold HoldMaintainOct 6, 2026
Northland Capital Markets Outperform OutperformMaintainSep 30, 2026
Guggenheim Buy BuyMaintainSep 30, 2026
BTIG Buy BuyMaintainSep 30, 2026
B of A Securities Buy BuyMaintainSep 30, 2026
BNP Paribas Neutral NeutralMaintainSep 24, 2026
Wells Fargo Equal Weight UnderweightUpgradeAug 27, 2026
Seaport Global Buy NeutralUpgradeJun 18, 2026
Deutsche Bank Buy HoldUpgradeMay 15, 2026
Maxim Group Hold BuyDowngradeAug 6, 2025
CLSA Outperform OutperformMaintainMay 27, 2025
Barclays Underweight UnderweightMaintainDec 16, 2024
Alembic Global Overweight NeutralUpgradeNov 12, 2024
Baird Outperform NeutralUpgradeAug 4, 2023
Credit Suisse Outperform OutperformMaintainMay 9, 2023
SunTrust Robinson Humphrey Buy HoldUpgradeMar 11, 2020
Bank of America Neutral BuyDowngradeMay 24, 2018
Drexel Hamilton Buy HoldUpgradeNov 9, 2016
Sidoti & Co. Buy BuyMaintainMar 18, 2016
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Named analyst price targets

Upside is calculated against the persisted previous close $130.47. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
Truist FinancialAnalyst unavailable$182$135.35 +39.5%Oct 6, 2026
OppenheimerAnalyst unavailable$210$137 +61.0%Oct 1, 2026
Northland SecuritiesJeff Grampp$220$136.62 +68.6%Sep 30, 2026
GuggenheimAnalyst unavailable$192$148.53 +47.2%Sep 14, 2026
JefferiesLaurence Alexander$181$155.67 +38.7%Sep 3, 2026
Wells FargoDavid Strauss$170$153.16 +30.3%Aug 27, 2026
Truist FinancialAnalyst unavailable$202$172.43 +54.8%Aug 14, 2026
Seaport GlobalAnalyst unavailable$245$205.4 +87.8%Jun 22, 2026
Deutsche BankScott Deuschle$255$210.94 +95.4%May 15, 2026
Deutsche BankAnalyst unavailable$205$213.52 +57.1%May 5, 2026
BNP ParibasAnalyst unavailable$215$204.08 +64.8%Jan 15, 2026
Truist FinancialMichael Ciarmoli$205$193.2 +57.1%Jan 9, 2026
Seaport GlobalAnalyst unavailable$195$175.28 +49.5%Nov 21, 2025
Truist FinancialAnalyst unavailable$200$204.51 +53.3%Nov 4, 2025
Northland SecuritiesJeff Grampp$225$204.56 +72.5%Nov 4, 2025
Truist FinancialMichael Ciarmoli$173$205.56 +32.6%Oct 15, 2025
Deutsche BankAnalyst unavailable$180$191.39 +38.0%Oct 8, 2025
Northland SecuritiesJeff Grampp$205$166.13 +57.1%Sep 10, 2025
Truist FinancialMichael Ciarmoli$145$182 +11.1%Aug 5, 2025
Seaport GlobalAnalyst unavailable$145$100.49 +11.1%Apr 1, 2025
Maxim GroupTate Sullivan$140$114.69 +7.3%Jan 10, 2025
Deutsche BankScott Deuschle$129$113.28 -1.1%Oct 3, 2024
Deutsche BankScott Deuschle$107$88.95 -18.0%Jun 10, 2024
Deutsche BankScott Deuschle$110$98.88 -15.7%May 7, 2024
Truist FinancialMichael Ciarmoli$95$101.47 -27.2%Mar 25, 2024
Truist FinancialMichael Ciarmoli$83$74 -36.4%Aug 14, 2023
Maxim GroupAnalyst unavailable$70$60.26 -46.3%Nov 29, 2022
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Company context

Snapshot as of publication

BWX Technologies, Inc. operates globally, specializing in the production and sale of nuclear components across the United States, Canada, and other international regions. The company's multifaceted operations are categorized into three distinct segments: Nuclear Operations Group, Nuclear Power Group, and Nuclear Services Group. The Nuclear Operations Group is a pivotal supplier of precision naval and critical nuclear components, including reactors, nuclear fuel, and assemblies, primarily supporting the United States Department of Energy/National Nuclear Security Administration's Naval Nuclear Propulsion Program. This segment also fabricates missile launch tubes for U.S. Navy submarines, produces specialized close-tolerance equipment for various nuclear applications, and is involved in converting Cold War-era stockpiles of high-enriched uranium.…

Historical context

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Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
  3. Polygon adjusted daily market bars · 2026-11-03T09:10:43.707212+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-03T09:10:43.704387+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-11-03. For educational purposes only; not investment advice.