Net Income, Revenue Dip for BWXT In First Quarter

摘要

Revenue and net income fell for BWX Technologies [BWXT], Lynchburg, Va., during the first quarter of 2021, the naval reactor maker and nuclear services company reported after markets closed Monday. BWXT ended the first three months of the year with revenue of $528 million, a nearly 3 percent dip from the $542 million taken in during the first quarter 2020, the company said in its earnings release. Net income for the period was $69.7 million, 73 cents earnings per share (EPS), down from $75.4 (79 cents EPS) for the period ended March 31, 2020. The dip was attributed to a combination of COVID-19 related absences early in the year along with lower long-lead material production, according to the release. Also, BWXT had a “robust” first quarter in 2020 before the pandemic firmly took hold, BWXT President and CEO Rex Geveden said in a Tuesday morning conference call with financial analysts. There were times when BWXT’s largest plant in Virginia had 10 percent absenteeism, the CEO said.