Shares of BWX Technologies Inc (BWXT) surged over 5% in pre-market trading on Tuesday, following the company's impressive fourth-quarter and full-year 2024 results, coupled with a bullish outlook for 2025 and beyond.

The nuclear components and services provider reported record revenue, adjusted EBITDA, adjusted earnings per share, and free cash flow for 2024, meeting or exceeding its full-year guidance metrics. The strong performance was driven by unprecedented demand across its end markets, including national security, clean energy, and medical industries.

BWXT's government operations segment delivered revenue and adjusted EBITDA growth in line with expectations, despite severe weather disruptions and a challenging year-over-year comparison. The company secured several long-term technical services contracts and took responsibility for managing and operating key facilities, boosting earnings visibility.

The commercial operations segment saw double-digit revenue and adjusted EBITDA growth, fueled by robust growth in the commercial power and medical markets. BWXT Medical, in particular, achieved a 23% revenue increase, with EBITDA turning meaningfully positive, driven by increased sales of therapeutic isotopes and new commercial agreements.

Looking ahead, BWXT is executing its strategic plan, investing in capacity expansion, capability enhancement, and adjacent market opportunities. The company's backlog stood at $4.8 billion, up 21% year-over-year, providing a solid foundation for continued growth in 2025 and beyond.

For 2025, BWXT expects revenue of approximately $3 billion, with mid-teens organic growth in commercial operations, aided by the pending acquisition of Kinectrics. Adjusted EBITDA is projected to range between $550 million and $570 million, while non-GAAP earnings per share guidance is set at $3.40 to $3.55.