BWX Technologies Q3 Non-GAAP EPS, Revenue Rise; $100 Million Asset Purchase Announced

MT Newswires Live11-05

BWX Technologies (BWXT) reported Q3 non-GAAP earnings Monday of $0.83 per diluted share, up from $0.67 a year earlier.

Analysts polled by Capital IQ expected $0.77.

Revenue in the three months ended Sept. 30 rose to $672 million from $590 million a year earlier.

Analysts surveyed by Capital IQ expected $658.6 million.

The company expects 2024 non-GAAP EPS of about $3.20 on revenue of $2.7 million versus previous guidance of $3.10 to $3.20 a share on revenue topping $2.6 billion.

Analysts polled by Capital IQ expect EPS of $3.19 on revenue of $2.64 billion.

Separately, BWX agreed to buy L3Harris Technologies' (LHX) Aerojet Ordnance Tennessee business for $100 million.

The deal for AOT, which is expected to close by the end of the year, is estimated to be "slightly accretive" to earnings, excluding purchase accounting and other one-time costs, in 12 to 18 months, BWX said Monday in a statement.

BWX shares rose 2.4% in recent after-hours activity, and L3Harris fell 0.2% in the regular session.

Price: 122.55, Change: +2.87, Percent Change: +2.40

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