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Defense firms report backlog growth amid rising military modernization
BWX Technologies said its backlog climbed 40% as demand rose for nuclear propulsion and other defense-related components.
Defense spending and military modernization efforts are creating a growth backdrop for parts of the defense supply chain, with an emphasis on nuclear deterrence and missile defense, according to MarketBeat Ratings.
MarketBeat Ratings highlights BWX Technologies, Mercury Systems, and Howmet Aerospace as companies it sees benefiting from increased demand, pointing to strong backlog, revenue growth, and raised guidance for BWX Technologies and its defense-focused work in nuclear reactor and naval propulsion components.
MarketBeat Ratings also notes BWX supports the U.S. Navy's nuclear propulsion program through its nuclear component designs for naval vessels, and that the company's backlog climbed 40%.
The outlet adds that the three companies show different stock performance, even as it frames their operational momentum as a potential driver of returns.