BWX Technologies BWXT and Fluor Corporation FLR are two important players in the nuclear energy space. BWX Technologies focuses on supplying nuclear components, fuel and services mainly to the U.S. government, including naval reactors, and is also working on small modular reactor (SMR) technologies. FLR, on the other hand, is a leading engineering and construction company that supports the development of nuclear and clean energy projects, including SMRs.
With growing demand for reliable and low-carbon energy, nuclear power is gaining more attention. Both BWXT and Fluor are well-positioned to benefit from this trend through their strong capabilities and involvement in nuclear projects.
From an investment perspective, both companies offer solid growth potential. However, differences in their business models, project exposure and risk levels may make one stock a more attractive option right now. Let’s take a closer look at their fundamentals, growth prospects, challenges and valuation to identify the better investment choice.
Tailwinds for BWXT
In February 2026, the company reported solid results, with net sales of $3.20 billion, up 18.3% year over year. Adjusted earnings increased 20.4% to $4.01 per share, supported by healthy demand for its nuclear components and services across both defense and commercial markets. This performance reflects BWXT’s ability to capitalize on increasing nuclear and defense spending.
The company is also strengthening its market position through strategic partnerships. In February 2026, BWXT Canada Ltd. signed an agreement with Liburdi GAPCO to work together on nuclear component installation and modification using advanced welding technologies.
This partnership is expected to help BWXT capture opportunities arising from growing demand for new nuclear projects and advanced reactor designs. It also enhances the company’s ability to serve both new and existing nuclear facilities in the United States and Canada, supporting its long-term growth.
Tailwinds for FLR
FLR is benefiting from new project wins and the continued expansion of its global presence, which are supporting its long-term growth outlook.
In March 2026, the company secured a limited notice to proceed (LNTP) from TeraWulf Inc. for master planning and pre-construction services related to a large-scale data center campus in Kentucky. The project, with access to up to 480 megawatts of grid-connected power, highlights Fluor’s growing involvement in high-demand infrastructure projects. The LNTP allows the company to begin early engineering and planning activities, with further project scope expected to follow.
Moreover, Fluor opened a new office in Bucharest, Romania, which will serve as a hub for delivering advanced nuclear energy projects across Europe. This expansion reflects the company’s focus on supporting clean energy development and strengthening its presence in key international markets.
Together, these developments highlight Fluor’s ability to secure new opportunities and expand its global footprint, supporting its long-term growth.
How Does the Zacks Consensus Estimate Compare for BWXT & FLR?
The Zacks Consensus Estimate for BWXT’s 2026 sales and earnings per share (EPS) implies an improvement of 17.3% and 12.7%, respectively, year over year. BWXT’s near-term EPS estimates have improved over the past 60 days.
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The Zacks Consensus Estimate for FLR’s 2026 sales and EPS implies an improvement of 3.4% and 25.6%, respectively, year over year. FLR’s near-term EPS estimates have improved over the past 60 days.
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Stock Price Performance: BWXT vs. FLR
BWXT has outperformed FLR in the past year. Shares of BWXT have surged 90.7% compared with FLR’s growth of 20.4%.
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FLR’s Valuation More Attractive Than BWXT
FLR is trading at a forward earnings (P/E F12M) multiple of 15.28X compared with BWXT’s forward earnings multiple of 40.53X, making the former relatively more attractive from a valuation perspective.
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Debt Position
FLR has a lower total debt-to-capital ratio of 24.62% compared with BWXT’s 62.05%, indicating a stronger balance sheet position.
Final Call
Both BWXT and FLR are well-positioned to benefit from growing demand for nuclear and clean energy projects. BWXT has strong fundamentals, supported by stable government contracts and consistent demand across its core businesses.
However, Fluor appears to have the edge with its broader exposure to large-scale infrastructure and clean energy projects, along with stronger earnings growth potential. Its more attractive valuation also provides better room for upside.
Overall, FLR looks like the better choice for investors seeking a balanced mix of growth and value.
FLR sports a Zacks Rank #1 (Strong Buy), making it a clear winner over BWXT, which has a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks Rank #1 stocks here.
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