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COVID Tamps BWXT Earnings, Despite Solid Reactor Biz

Dan Leone By
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COVID Tamps BWXT Earnings, Despite Solid Reactor Biz

Despite consistency in the core naval reactors business and good performance from its nuclear-site management contracts with the Department of Energy, COVID-19 dragged down revenue and earnings at BWXT Technologies [BWXT], Lynchburg, Virginia, in the third quarter. BWXT posted net income of about $60 million, or 63 cents a share in the third quarter that ended Sept. 30, down some 18% from more than $73 million, or $76 cents a share, in the year-ago quarter. Quarterly revenue fell 4% to…

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