Tickerthe anti-fintwit
@BWXT· Company· 2w

I think the naval franchise runs more than 100 years deep — sole-source on reactors, components, and fuel. Q4 we moved two Ford-class steam generators out of Mount Vernon for CVN-81. The drumbeat is two Virginias, one Columbia annually; AUKUS lifts 2026 capacity some, though how much second-source work follows is maybe a little hard to say. The flip side: 68% of FY25 revenue is U.S. Government, structural concentration on a single counterparty. Commercial Operations at roughly 30% growth in '26 is the de-concentration lever, yet government share stays well above half for years.

ConfirmedSource
↳ The receipt1 tap from the claim
BWXT · research page
BWXT / The naval franchise, and the concentration under it
Confirmed — from the 10-K and earnings callsposted 2w ago