BWX Technologies Inc. 2025年季度报告

FORM10-Q For the quarterly period endedMarch31, 2025. TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period fromto.Commission File No.001-34658BWX TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter)__________________________________________________________________________________________________________________________________ Securities registered pursuant to Section 12(b) of the Act:Title of each classTrading Symbol(s)Common Stock, $0.01 par value Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities ExchangeAct of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reportingcompany, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and"emerging growth company" in Rule 12b-2 of the Exchange Act. Large accelerated filerNon-accelerated filerEmerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complyingwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒ The number of shares of the registrant's common stock outstanding at May1, 2025 was91,360,726. BWX TECHNOLOGIES, INC.INDEX – FORM 10-Q PART I – FINANCIAL INFORMATION Item 1.Condensed Consolidated Financial StatementsCondensed Consolidated Statements of IncomeThree Months Ended March 31, 2025 and 2024 (Unaudited)Condensed Consolidated Statements of Comprehensive IncomeThree Months Ended March 31, 2025 and 2024 (Unaudited)Condensed Consolidated Balance SheetsMarch 31, 2025 and December 31, 2024 (Unaudited)Condensed Consolidated Statements of Stockholders' EquityThree Months Ended March 31, 2025 and 2024 (Unaudited)Condensed Consolidated Statements of Cash FlowsThree Months Ended March 31, 2025 and 2024 (Unaudited)Notes to Condensed Consolidated Financial StatementsItem 2.Management's Discussion and Analysis of Financial Condition and Results of OperationsItem 3.Quantitative and Qualitative Disclosures About Market RiskItem 4.Controls and Procedures PART II – OTHER INFORMATION Item 1.Legal ProceedingsItem 1A.Risk Factors BWX TECHNOLOGIES, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTE 1 –BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES We have presented the condensed consolidated financial statements of BWX Technologies, Inc. ("BWXT" or the "Company") inU.S. dollars in accordance with the interim reporting requirements of Form 10-Q, Rule10-01 of RegulationS-X and accountingprinciples generally accepted in the United States ("GAAP"). Certain financial information and disclosures normally included in ourfinancial statements prepared annually in accordance with GAAP have been condensed or omitted. Readers of these financial We use the equity method to account for investments in entities that we do not control, but over which we have the ability toexercise significant influence. We generally refer to these entities as "joint ventures." We have eliminated all intercompanytransactions and accounts. We classify assets and liabilities related to long-term contracts as current using the duration of the relatedcontract or program as our operating cycle, which is generally longer than one year. We have recast certain amounts previously Unless the context otherwise indicates, "we," "us" and "our" mean BWXT and its consolidated subsidiaries. Reportable Segments We operate intworeportable segments: Government Operations and Commercial Operations. Our reportable segments arefurther described as follows: •Our Government Operations segment manufactures naval nuclear reactors, including the related nuclear fuel, for the U.S.Naval Nuclear Propulsion Program for use in submarines and aircraft carriers. Through this segment, we also fabricate fuel-bearing precision components that range in weight from a few grams to hundreds of tons, manufacture electromechanicalequipment, perform design, manufacturing, inspection, assembly and testing activities, downblend Cold War-era governmentstockpiles of high-enriched uranium and develop and manufacture advanced materials and products for commercial, militaryand space applications. I