BWX Technologies [BWXT] said Thursday it has received a contract to procure long-lead components for U.S. Navy nuclear-powered submarines and aircraft carriers, which including options is worth $806 million over seven years.
The contract awarded by the National Nuclear Security Administration (NNSA), the semi-autonomous Department of Energy nuclear-weapons agency, has a one-year base period worth about $75 million, plus six one-year options that on average are each worth $122 million. Work under the contract began in 2019 and with options would continue through 2025, according to the press release.
The work covers materials needed to build reactor components for Virginia-class attack submarines,
Columbia-class ballistic missile submarines, and Ford-class aircraft carriers, the release said. A BWX Technologies spokesperson said the company booked the contract in the third quarter of 2019. The company’s fiscal year corresponds with the calendar year, not the U.S. government’s fiscal year, which begins Oct. 1.
BWX Technologies’ new agreement is in addition to more than $2 billion worth of Naval Nuclear Propulsion work for the Navy and the NNSA, including for reactor components and nuclear fuel, that the company announced earlier this year.