Question · Q3 2025
Jeff Gramby asked about the main risks to achieving the 2026 outlook and whether an extended government shutdown poses a risk to either the 2025 or 2026 outlook. He also inquired about the potential acceleration of the commercial side of the business, specifically if the order backlog is expected to grow in the coming quarters.
Answer
Chase Jacobson, BWX Technologies' Vice President of Investor Relations, clarified that a government shutdown primarily impacts technical services, with most sites remaining operational. While not factored into current guidance, an extended shutdown into 2026 would pose a risk. Opportunities include operational performance and potential EAC write-ups, while risks involve the timing of commercial nuclear orders and defense spending. Rex Geveden, President and CEO, expects commercial order acceleration, citing recent announcements and anticipated SMR and large reactor builds, projecting 2026 to be characterized more by commercial orders than government.