BWX Technologies, Inc. (NYSE: BWXT) shares tanked Thursday, on the awarding of U.S. Naval Nuclear Propulsion Program contracts totaling more than $1.4 billion.
The first contract, valued at $1.285 billion, supports long-lead material procurement for the program. The base contract is for fiscal year 2026 and is the first of five annual task order awards available through 2030.
The second contract, valued at $165 million, is for procurement of long-lead time reactor system components and manufacturing work on the Ford-class aircraft carrier. The component manufacturing will take place at BWXT facilities in Barberton, Ohio, and Mount Vernon, Indiana.
“We have no higher calling at BWXT than delivering these nuclear reactor systems for the men and women of the U.S. Navy,” said Gary Camper, BWXT Nuclear Operations Group president.
“Every component we deliver reflects a disciplined commitment to safety, integrity and precision, ensuring the Navy’s submarines and carriers can operate confidently around the world, protecting our nation with unmatched reliability.”
BWXT shares slid $4.29, or 2%, to $210.91.
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