Stock Story -
Aerospace and defense company BWX (NYSE:BWXT) will be announcing earnings results tomorrow after market hours. Here's what to expect.
BWX met analysts' revenue expectations last quarter, reporting revenues of $604 million, up 6.3% year on year. It was a good quarter for the company, with a solid beat of analysts' Government Operations revenue estimates and a decent beat of analysts' earnings estimates.
Is BWX a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting BWX's revenue to grow 4.4% year on year to $639.2 million, slowing from the 10.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.74 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. BWX has missed Wall Street's revenue estimates twice over the last two years.
Looking at BWX's peers in the defense contractors segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Huntington Ingalls delivered year-on-year revenue growth of 6.8%, beating analysts' expectations by 4.7%, and Lockheed Martin (NYSE:LMT) reported revenues up 8.6%, topping estimates by 6.5%. Huntington Ingalls traded down 5.9% following the results while Lockheed Martin was up 8.5%.
Read the full analysis of Huntington Ingalls's and Lockheed Martin's results on StockStory.
There has been positive sentiment among investors in the defense contractors segment, with share prices up 2.4% on average over the last month. BWX is up 1.9% during the same time and is heading into earnings with an average analyst price target of $109.6 (compared to the current share price of $97.3).
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