Why BWX Technologies Stock Lagged the Market Today
The stock market staged a robust recovery on Tuesday, but not every company surged ahead in price. Advancing only cautiously was nuclear engineering specialist BWX Technologies (NYSE: BWXT), which published its latest set of quarterly results after market hours Monday night. The following day, the stock closed 0.9% higher, against the more than 1% rise of the S&P 500 index.
For its second quarter, BWX booked revenue of $681.5 million; this was 11% higher on a year-over-year basis. Of the company's two categories, government and commercial operations, it was the latter that saw the better improvement. Its revenue advanced by 17% to hit $141.5 million.
As for the company's bottom line, adjusted non-GAAP (generally accepted accounting principles) net income saw a bigger leap, rising by 27% to $75.4 million ($0.82 per share).
Source Fool.com
