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Business/Financial

BWXT Earnings Rise in 2023, Fourth Quarter; DoE Award a ‘Wild Card’

Defense Daily Staff

Wednesday, February 28th, 2024

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BWXT Earnings Rise in 2023, Fourth Quarter; DoE Award a ‘Wild Card’

Earnings rose at BWX Technologies [BWXT] for 2023, which the maker of nuclear naval reactors and manager of nuclear weapons sites attributed Tuesday mostly to favorable adjustments on government contracts. For the year, net earnings were $246.3 million, or $2.68 per share, up about 7.7% from $238.6 million, or $2.60 a share in 2023. Annual revenue for 2023 was about $2.5 billion, up around 12% from some $2.23 billion in 2022, according to the company’s latest earnings press release. Fourth-quarter…

Congress

SASC’s FY ‘27 NDAA Sticks With Army’s Plan For Legacy Aviation Procurement Cuts

The Senate Armed Services Committee’s (SASC) version of the next defense policy sticks to the Army’s proposed plan to cut procurement of its legacy aviation fleet, and does not authorize […]

Congress

SASC Approves $1.14 Trillion FY ‘27 NDAA With ‘Right to Repair’ Reform, Stock Buyback Restriction

The Senate Armed Services Committee (SASC) has approved its $1.14 trillion version of the next defense policy bill, adopting “right to repair” reform to provide the military services’ greater ability […]

Congress

House Appropriators Unveil $1.07 Trillion FY ‘27 Defense Bill, Restore Funds For E-7, Army Aviation

House appropriators on Wednesday released their $1.07 trillion fiscal year 2027 defense spending bill, with the legislation reversing Army aviation cuts, restoring funding for the Air Force’s E-7 Wedgetail program […]

Congress

MOSA Implementation By Pentagon Lagging, GAO Official Says

While the Modular Open Systems Approach (MOSA) has been a requirement for major defense acquisition programs since January 2019 and other Defense Department acquisitions since January 2021, few programs are […]