Short answer
BWX Technologies Inc (BWXT) filed its Q1 2019 10-Q quarterly report on May 1, 2019 for the quarter ended Mar 31, 2019.
BWX Technologies Inc Q1 2019 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $416.5M, down 9.0% YoY from $457.5M, with Nuclear Power Group revenue down 25.2% to $84.4M
- Operating income $63.6M, down from $79.9M; consolidated operating margin 15.3% vs 17.5% YoY
- Best segment: Nuclear Services Group margin 5.4% vs 3.9%; worst: Nuclear Power Group margin 14.9% vs 19.3%
- Cash $41.9M vs $47.4M; operating cash used $17.7M, capital expenditures up $26.9M
- Backlog $4.824B vs $3.479B; management expects sufficient liquidity for at least the next 12 months
Risk Factors
- No material changes in risk factors, per filing, with contingencies referred to 2018 10-K
- Regulatory risk: Nuclear operations depend heavily on U.S. Government contracts and Naval Nuclear Propulsion Program funding
- Operational risk: Revenue estimates depend on percentage-of-completion costs for long-term contracts
- Financial risk: Long-term debt increased to $856.0 million from $753.6 million
- Market risk: $73.5 million of Canadian-dollar FX forwards exposed to counterparty nonperformance
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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