# BWX Technologies Lifts 2026 Free Cash Flow Guidance Floor to $350 Million

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/47322
Published: 2026-11-03T04:52:46.000Z
Updated: 2026-11-03T04:52:46.000Z
Section: Business

> Third-quarter free cash flow rose 59% to $150.5 million, while the company kept its 2026 revenue outlook near $3.8 billion.

BWX Technologies raised its minimum free cash flow guidance for 2026 by $5 million after third-quarter cash flow climbed 59% from a year earlier. The company now expects $350 million to $360 million for the year ending Dec. 31, up from a prior range of $345 million to $360 million.

Free cash flow for the three months ended Sept. 30 was $150.5 million. Revenue rose 10% year over year to $953 million, while adjusted EBITDA increased 19% to $179.7 million.

Government Operations generated $639.1 million in third-quarter revenue, up 4% from a year earlier. Commercial Operations revenue grew 25% to $314.2 million.

For 2026, BWXT continues to project roughly $3.8 billion in revenue and $667 million in adjusted EBITDA. It narrowed its non-GAAP earnings-per-share range to $4.72 to $4.77, from $4.70 to $4.80.

The company had set longer-term goals at its Sept. 29 Investor Day: $5.5 billion to $6 billion in revenue and $1.1 billion to $1.2 billion in adjusted EBITDA for 2030. The presentation also set a 2030 free cash flow target of $525 million to $575 million.

BWX Technologies’ preliminary 2027 outlook calls for revenue growth in the high single digits, with adjusted EBITDA and non-GAAP earnings per share growth in the high single digits to low double digits. BWXT calculates free cash flow by subtracting spending on property, plant and equipment from cash generated by operations. It classifies that measure and adjusted EBITDA as non-GAAP.