Question · Q3 2025
Jed Dersheimer asked about potential supply constraints in the radiopharma business for Ytterbium-176 or Lutetium-177, given the expansion of Pluvicto and numerous phase three trials, and how to project radiopharma growth. He also inquired if commercial reactor RFP wins (e.g., Rolls-Royce SMR, AP1000) would drive backlog but not contribute to 2026 growth, implying 2026 growth would primarily come from Bruce and OPG in Canada.
Answer
Rex Geveden, BWX Technologies' President and CEO, stated there were no supply constraints for Ytterbium-176 or Lutetium-177 precursor, and he expects Lutetium growth to accelerate, though he couldn't predict its specific impact on their business. He confirmed that commercial reactor RFP wins would be additive to backlog but not significantly contribute to 2026 revenue growth, reinforcing that the 2026 revenue outlook is low-risk due to existing bookings, with any new commercial wins being additive.