NEW YORK, July 28, 2026, 13:05 EDT — U.S. regular session
- BWXT shares fell 3.4% to $170.53, while the S&P 500 advanced 0.5%.
- Initial projections indicate a 18.3% rise in second-quarter revenue, yet EPS is expected to increase just 2%.
- JPMorgan Chase & Co. NYSE:JPM began coverage with an Overweight rating and set a price target of $230.
BWX Technologies shares dropped 3.4% on Tuesday, even as JPMorgan began coverage with a positive outlook. The stock was at $170.53 just before 1 p.m. EDT.
BWXT fell to a level 29.5% under its April high. Despite this, FactSet’s 2026 EPS projection has increased in the last three months.
Attention has shifted to timing. Analysts are now projecting significantly quicker earnings growth in the latter half.
JPMorgan analyst Tomohiko Sano initiated coverage on Monday with an Overweight rating and assigned a price target of $230, which represents an upside of about 35% from Tuesday’s last quoted share price.
Sano described BWXT as a “leader in nuclear manufacturing and materials handling.” He pointed to the company’s government connections, nuclear licences, and expertise in producing heavy components. Investing.com
BWXT is set to release its second-quarter earnings following the close of markets on Monday. The company’s earnings call is scheduled for 5 p.m. EDT.
Analysts’ preliminary consensus anticipates revenue of $903.77 million and earnings per share of $1.04. This would represent an 18.3% rise in revenue from the prior year, with EPS seen increasing by roughly 2%.
The quarterly EPS projection is down 4.6% from April. However, the annual outlook has risen 2.2% to $4.71.
| EPS period | 2025 actual | 2026 actual/estimate | Year-on-year change |
|---|---|---|---|
| Second quarter | $1.02 | $1.04 | +2.0% |
| First half | $1.93 | $2.16 | +11.9% |
| Second half | $2.08 | $2.55 implied | +22.6% |
Preliminary. The first half of 2026 reflects the reported first-quarter EPS plus the current consensus for the second quarter. The second half of 2026 is inferred from the $4.71 full-year outlook. The 2025 numbers are based on the company’s non-GAAP EPS.
The key measure for investors is that bridge. Consensus is for roughly $2.55 in second-half EPS, marking a 22.6% rise compared to a year ago.
The operating mix is also being examined. Robust sales might not be enough to maintain the current earnings goal.
There were indications of leverage in the first quarter as revenue climbed 26% to $860.2 million. Non-GAAP earnings per share gained 22% to reach $1.12.
The growth was led by Commercial Operations, which posted a 121% increase in revenue and a 162% jump in adjusted EBITDA. In contrast, EBITDA for Government Operations edged up 1%.
At the end of March, backlog stood at $8.65 billion, marking a 77% increase compared to a year ago. Of this, $6.93 billion was attributed to government contracts.
BWXT finalized its acquisition of Precision Components Group on July 6, increasing its capacity by upwards of 500,000 square feet and expanding its workforce by over 450 employees. The company’s earlier 2026 outlook did not factor in contributions from this purchase.
John MacQuarrie, President of Commercial Operations, stated that the increased capacity will back “reactor life-extension programs, new build activity.” The deal was finalized after the conclusion of the second quarter. BWX Technologies, Inc.
The valuation has adjusted but stays elevated. Tuesday’s share price represents around 36 times projected 2026 consensus earnings per share. The peak reached in April was equivalent to about 51 times that forecast.
Shares related to the nuclear sector traded lower. Cameco Corp. NYSE:CCJ slipped 2.5%, Constellation Energy Corp. NASDAQ:CEG was down 2.1%, and Oklo Inc. NYSE:OKLO declined 4.1%.
Execution is still the primary concern. The timing of contracts, federal funding, regulatory clearance, labor availability and the integration of PCG may affect the ramp-up in the second half.
Monday’s report must surpass a reduced quarterly benchmark. Investors are looking for proof that revenue will translate into accelerated earnings by the end of the year.
Related articles: NYSE:JPM
