BWX Technologies, Inc. (NYSE:BWXT) Q2 2024 Earnings Conference Call August 5, 2024 5:00 PM ET

Company Participants

Chase Jacobson - Vice President of Investor Relations
Rex Geveden - President and CEO
Robb LeMasters - Senior Vice President and CFO

Conference Call Participants

Scott Deuschle - Deutsche Bank
Rob Labick - CJS Securities
Pete Skibitski - Alembic Global
Peter Arment - Baird
Josh Korn - Barclays
Andre Madrid - BTIG
Michael Ciarmoli - Truist Securities
Ron Epstein - Bank of America
Thomas Meric - Janney Montgomery

Operator

Ladies and gentlemen, welcome to the BWX Technologies Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. Following the company's prepared remarks, we will conduct a question-and-answer session, and instructions will be given at that time.

I would now like to turn the call over to our host, Chase Jacobson, BWXT's Vice President of Investor Relations. Please go ahead sir.

Chase Jacobson

Thank you, Kathleen. Good evening, and welcome to today's call. Joining me are Rex Geveden, President and CEO; and Robb LeMasters, Senior Vice President and CFO.

On today's call, we will reference the second quarter 2024 earnings presentation that is available on the Investors section of the BWXT website. We will also discuss certain matters that constitute forward-looking statements. These statements involve risks and uncertainties, including those described in the Safe Harbor provision found in the investor materials and the company's SEC filings. We will frequently discuss non-GAAP financial measures, which are reconciled to GAAP measures in the appendix of the earnings presentation that can be found on the Investors section of the BWXT website.

I would now like to turn the call over to Rex.

Rex Geveden

Thank you, Chase, and good evening to all of you. This afternoon, we reported strong second quarter results that were ahead of our expectations. We had robust 11% organic revenue growth, 18% adjusted EBITDA growth and adjusted earnings per share growth of 26%. We benefited from good execution of our business lines and favorable timing for a number of items in the first half, which drove the outperformance.

Year-to-date performance gives us the confidence to increase the lower end of our adjusted earnings per share guidance, resulting in a range of $3.10 to $3.20, and to reaffirm our full year or guidance for mid-single-digit revenue and adjusted EBITDA growth.

Over the last several months, we continue to experience positive demand momentum in our global security, clean energy and medical markets. We are seeing federal and state governments prioritize regulatory clarity, and funding to boost investments in nuclear power as a reliable clean energy alternative complemented by demand from private industry.