The strong beat and raised guidance across all key metrics confirm accelerating momentum. Monitor Q2 2026 earnings for continued execution on the record backlog and details on the PCG acquisition integration. The raised FCF guidance suggests improving cash generation, supporting organic and inorganic growth.
Price Chart
Executive Summary
BWXT reported Q1 2026 revenue of $860.2M (+26% YoY) and non-GAAP EPS of $1.12 (+22% YoY), both beating consensus estimates. The company raised its full-year 2026 guidance for adjusted EBITDA, non-GAAP EPS, and free cash flow, and announced the acquisition of Precision Components Group to expand U.S. commercial nuclear manufacturing. Robust backlog of $8.65B (+77% YoY) and strong demand across government and commercial segments underpin the positive outlook.
Key Financial Metrics
Key Facts
- Q1 2026 revenue $860.2M, +26% YoY
- Q1 2026 non-GAAP EPS $1.12, +22% YoY, beat consensus of $0.93 by 20.4%
- Raised 2026 guidance: non-GAAP EPS to $4.60-$4.75 (from $4.55-$4.70), adjusted EBITDA to $650M-$665M (from $645M-$660M), FCF to $315M-$330M (from $305M-$320M)
- Backlog reached $8.65B, up 77% YoY, driven by multi-year naval propulsion and commercial nuclear awards
- Announced acquisition of Precision Components Group, LLC to establish U.S. commercial nuclear component manufacturing footprint
- Operating cash flow $92.6M, +83% YoY; free cash flow $50.1M, +190% YoY
- Government Operations revenue +4%, Commercial Operations revenue +121% YoY
Financial Impact
Non-GAAP EPS beat by $0.19 (20.4%) on consensus $0.93; revenue beat by $21.5M (2.6%). Raised full-year guidance implies ~$0.10-$0.20 EPS upside.
Risk Factors
- Execution risk on large backlog and new acquisition integration
- Federal budget uncertainty and potential government shutdowns impacting Government Operations
- Timing of microreactor revenues and commercial nuclear project milestones
- Higher capital expenditures for growth investments may pressure near-term FCF
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001486957-26-000027 |
| Document: bwxt-20260504.htm | 0001486957-26-000027 |
| Document: 0001486957-26-000027-index-headers.html | 0001486957-26-000027 |
| Document: 0001486957-26-000027-index.html | 0001486957-26-000027 |
| Document: 0001486957-26-000027.txt | 0001486957-26-000027 |
| 8-K Data (Synthetic) | 0001486957-26-000027 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 15, 2026 6w ago | Institutional Cluster | $171.54 $146.70 | ▲ +14.48% | ▲ +12.50% | $134.86 (+21.38%) |
Aug 12, 2026 7w ago | 144 | $170.35 $150.12 | ▼ −11.88% | ▼ −10.13% | $134.86 (−20.83%) |
Aug 3, 2026 8w ago | Press Release | $172.40 $161.54 | ▼ −6.30% | ▼ −5.06% | $134.86 (−21.77%) |
May 4, 2026 21w ago | 8-K | $206.15 $187.26 | ▼ −9.16% | ▼ −14.12% | $134.86 (−34.58%) |
Mar 18, 2026 28w ago | DEFA14A | $210.12 $235.78 | ▲ +12.21% | ▲ +4.59% | $134.86 (−35.82%) |
US Market Status
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