BWXT posted record 2025 revenue of $3.6 billion, driven by nuclear projects and strong backlog growth, with 2026 outlook at $3.75 billion.

BWXT reported strong 2025 financial results, with full-year revenue hitting a record $3.6 billion, up 18% year over year, and adjusted net income per share rising 13% to $1.08 in Q4. The company’s backlog grew 15% to $7.3 billion, driven by government and commercial nuclear projects, including naval propulsion contracts, uranium enrichment deals, and international SMR work. Commercial operations backlog surged 85% to $1.7 billion. BWXT expects 2026 revenue of about $3.75 billion, with 25% growth in commercial operations, non-GAAP EPS of $4.55–$4.70, and free cash flow of $305–$320 million. Key achievements include first TRISO fuel delivery, progress on the ANTARES reactor, and new facilities. The company completed a $1.25 billion debt refinancing and ended 2025 with $1.7 billion in liquidity.