Overview
BWX Technologies, Inc. (BWXT) is a nuclear technology and manufacturing company serving government and commercial markets. Its Government Operations business supplies naval nuclear reactors and fuel for U.S. submarines and aircraft carriers, and supports government nuclear-materials, environmental, and advanced-reactor programs. Commercial Operations provides components, fuel and services for nuclear power plants, as well as medical radioisotopes and radiopharmaceuticals.[1][2][3]
The company’s operations are centered on the United States and Canada, with a broader presence that includes the United Kingdom.[4][5] BWXT reported approximately $3.2 billion in revenue for fiscal 2025 and had approximately 10,000 employees as of February 2026.[6][7]
BWXT states its purpose as delivering innovative nuclear solutions to create a better world.[8] [1][2][3][4][6][5][7][8]
Products & services
BWX Technologies manufactures naval nuclear reactors and related fuel for U.S. Navy submarines and aircraft carriers, along with precision fuel-bearing components and electromechanical equipment. Its capabilities span reactor and fuel design, uranium processing and downblending, component manufacture, inspection, assembly and testing. It also provides nuclear-materials and environmental management and facility operations for government customers.[9] In commercial nuclear power, its products include steam generators, heat exchangers, pressure vessels, reactor components, spent-fuel and high-level-waste storage containers, nuclear fuel and fuel-handling systems, reactor controls and tooling. Associated services include engineering and analysis, plant inspection, maintenance, modification, nondestructive examination, repair and lifecycle support.[10][11][12][13]
BWXT also develops advanced reactor technology. Its BANR concept is described as a transportable, factory-fabricated 75-MWt high-temperature gas reactor using TRISO fuel enriched to 19.75%, intended to provide remote power and industrial heat.[14] The FY2025 commercial portfolio also included medical radioisotopes and products such as Tc-99m and Rubidium-82 generators, Iodine-131 products, and contract radiopharmaceutical manufacturing.[10][11][15][16] In FY2025, Government Operations generated approximately 73.5% of consolidated revenue and Commercial Operations approximately 26.7%; the percentages are calculated from segment revenue and consolidated revenue, and do not represent individual product shares.[6][6][6] BWXT announced an agreement to sell its medical business in August 2026, with closing expected by year-end subject to approvals.[17] [9][10][11][6][6][6][12][13][14][15][16][17][12][13][14][15][16][17]
Geographic presence
BWX Technologies’ principal operating footprint is in the United States and Canada, with a smaller presence in other countries. Its U.S. manufacturing locations include Lynchburg, Virginia; Barberton and Euclid, Ohio; Mount Vernon, Indiana; and Erwin and Jonesborough, Tennessee. Canadian sites include Cambridge, Peterborough, Toronto, Kanata, Oakville, Kitchener and Etobicoke in Ontario, and Vancouver, British Columbia. Principal corporate administrative offices are listed in Lynchburg, Washington, D.C., Charlotte, North Carolina, and McLean, Virginia.[4] At the end of 2025, BWXT had approximately 10,400 employees worldwide: 6,700 in the U.S. (64%), 3,500 in Canada (34%) and 200 in other countries (2%).[18]
For 2025, reported revenue by customer location was $2.431 billion in the U.S., $688.6 million in Canada and $83.2 million in other countries—approximately 76.0%, 21.5% and 2.6%, respectively, of consolidated revenue; the geographic amounts are reported before intersegment eliminations.[19] In the second quarter of 2026, revenue was $636.3 million in the U.S., $229.4 million in Canada and $38.1 million in other countries, approximately 70.6%, 25.4% and 4.2% of consolidated revenue before eliminations.[20] BWXT also reports operating sites in the U.K. as part of its broader footprint in the U.S., Canada and U.K.[5] [4][18][19][20][5][18][5]
Business segments
BWX Technologies reports two segments in its 2025 annual report: Government Operations and Commercial Operations. Government Operations focuses on naval nuclear reactors and related fuel for U.S. submarines and aircraft carriers, precision nuclear components and equipment, uranium processing, government nuclear-materials and environmental-management services, and advanced reactor and fuel design and manufacturing. Commercial Operations focuses on commercial nuclear power components and fuel, engineering and plant lifecycle and maintenance services, and medical radioisotopes, radiopharmaceuticals and devices.[9][11][21]
For 2025, Government Operations generated $2,350.1 million in revenue, approximately 73.5% of consolidated revenue; Commercial Operations generated $853.1 million, approximately 26.7%. The percentages use consolidated revenue of $3,198.4 million as the denominator; segment revenues exceed that total because of $4.7 million in eliminations.[22] U.S. Government contracts represented approximately 68% of consolidated revenue, a customer concentration measure rather than a segment share.[21] [9][11][21][22][22][22]
Company history
BWX Technologies traces its origins to Stephen Wilcox’s 1856 water-tube-boiler patent and the 1867 founding of Babcock, Wilcox & Company by Wilcox and George Babcock. Its early nuclear history included designing and fabricating components for USS *Nautilus*, the first nuclear-powered submarine.[23]
On June 30, 2015, Babcock & Wilcox completed the spin-off of its Power Generation business, leaving BWXT as a separately traded company focused on government and nuclear operations.[24] BWXT expanded into medical isotopes with its 2018 acquisition of Nordion, then divested its U.S. commercial nuclear-services business in 2020.[25][26]
In 2025, BWXT completed its acquisition of Kinectrics, adding nuclear engineering, testing and technical-services capabilities.[27][28] [24][27][23][25][26][28]
Sources
- BWX Technologies, Inc. — Full financial report (2025 Y)
- BWX Technologies, Inc. — Full financial report (2026 Q 2)
- investors.bwxt.com[5]
- www.bwxt.com[7]
- www.bwxt.com[8]
- www.bwxt.com[12]
- www.bwxt.com[13]
- www.bwxt.com[14]
- www.bwxt.com[15]
- bwxt.com[16]
- investors.bwxt.com[17]
- www.sec.gov[18]
- www.bwxt.com[23]
- BWX Technologies, Inc. — Full financial report (2015 Y)[24]
- www.bwxt.com[25]
- www.bwxt.com[26]
- www.bwxt.com[28]
Continue your research
From company context to financial detail.
Explore original sources and worldwide fundamental financial data and intelligence with Finbar.
Explore BWX Technologies, Inc. in Finbar ↗