U.S. defense spending continues to support the demand for key naval platforms that BWX has positions on, including the Virginia and Columbia class submarines and the Ford class aircraft carrier. While smaller, the commercial market features more significant growth potential, particularly as it pertains to the Tc-99m generator in its nuclear medicine business. BWX's commercial nuclear field services have been an area of strength while its fuel handling volumes have been down somewhat. The company's backlog of $4 billion as of Sept. 30, 2023, represents more than a year and a half of forecast revenue, which provides it with good sales visibility. We expect BWX will increase its revenue by 9%-12% in 2023 and 0%-5% annually thereafter. BWX's revenue mix
