NuScale's Nuclear Stock Struggles; BWX Technologies Emerges as Stronger Alternative
NuScale Power, which went public in May 2022 through a SPAC merger and once reached $53.43 per share on October 15, 2025, has since fallen to around $9 due to project cancellations and delays. The company canceled its flagship U.S. deployment in Idaho in 2023 and delayed commercial reactor plans for Romania from 2030 to 2033. Revenue dropped sharply after the completion of a major Romanian project at the end of 2025, with analysts forecasting full-year revenue of $25 million and a net loss of $181 million in 2026. In contrast, BWX Technologies is positioned as a more stable nuclear investment. As North America’s largest manufacturer of specialized nuclear components and systems for both commercial and defense applications, BWX benefits from strong government contracts and diversified revenue streams. The company has grown its revenue at an 11% CAGR since 2021 and maintains a $7.3 billion backlog as of the end of 2025. Its focus on naval reactors and nuclear fuel systems provides long-term stability, making it less vulnerable to commercial market fluctuations. While NuScale remains unprofitable with uncertain timelines for deployment, BWX Technologies offers more predictable earnings and stronger fundamentals.
Topics: NuScale project delays revenue decline SMR (Small Modular Reactors) stock performance