BWX Technologies, Inc. (NYSE: BWXT) has appointed Nicole W. Piasecki to its board of directors, effective January 2, 2024. Piasecki brings with her a wealth of experience from her 25-year tenure at the Boeing Company, where she held several senior leadership positions, including Vice President and General Manager of the Propulsion Systems Division for Boeing Commercial Airplanes.
Jan Bertsch, chair of BWXT's board of directors, expressed enthusiasm about Piasecki's appointment, stating, "We are very fortunate to add someone with Nicole's business, manufacturing and technological perspectives to our board. Her deep understanding of the aerospace and defense sector and experience across a variety of domestic and international markets will bring an important perspective as BWXT continues to pursue its growth goals going forward."
Piasecki's extensive background also includes serving on the boards of BAE Systems and Weyerhaeuser Company, as well as being a senior advisor to Mitsubishi Heavy Industries and previously chairing the board of Seattle University. She holds a bachelor's degree in mechanical engineering from Yale University and an MBA from the Wharton School of the University of Pennsylvania.
BWX Technologies, Inc., headquartered in Lynchburg, VA, is a leading manufacturer and engineering innovator in the defense industry. With over 7,000 employees and 14 major operating sites in the U.S., Canada, and the U.K., the company provides nuclear solutions for global security, clean energy, environmental restoration, nuclear medicine, and space exploration. Additionally, BWXT joint ventures manage and operate more than a dozen U.S. Department of Energy and NASA facilities.
Following the announcement of Piasecki's appointment, BWXT's stock experienced a marginal movement, closing at a price of $76.25 per share, representing a -0.1% change.
The company's full 8-K submission is available here.
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Revenue (MM) | $1,800 | $1,895 | $2,124 | $2,124 | $2,233 | $2,395 |
| Revenue Growth | n/a | 5.28% | 12.06% | 0.03% | 5.12% | 7.26% |
| Operating Margins | 17% | 17% | 17% | 16% | 16% | 15% |
| Net Margins | 13% | 13% | 13% | 14% | 11% | 9% |
| Net Income (MM) | $227 | $244 | $279 | $306 | $238 | $223 |
| Net Interest Expense (MM) | $28 | $35 | $31 | $36 | $36 | $47 |
| Depreciation & Amort. (MM) | $60 | $62 | $61 | $69 | $74 | $77 |
| Earnings Per Share | $2.27 | $2.55 | $2.91 | $3.24 | $2.6 | $2.44 |
| Diluted Shares (MM) | 100 | 96 | 96 | 95 | 92 | 92 |
| Free Cash Flow (MM) | $60 | $97 | -$59 | $75 | $46 | $85 |
| Capital Expenditures (MM) | $109 | $182 | $255 | $311 | $198 | $164 |
| Current Ratio | 1.44 | 1.56 | 1.46 | 1.68 | 2.1 | 2.5 |
