Curtiss-Wright Corporation (NYSE:CW) Q1 2024 Earnings Call Transcript May 2, 2024 10:00 AM ET Company Participants Jim Ryan - VP of IR Lynn Bamford - Chair and CEO Chris Farkas - VP and CFO Conference Call Participants Nathan Jones - Stifel Greg Dahlberg - Wolfe Research Louie DiPalma - William Blair Sam Struhsaker - Truist Tony Bancroft - Gabelli Funds Jan Engelbrecht - Baird Operator Welcome everyone to the Curtiss-Wright First Quarter 2024 Earnings Conference Call. At this time, all participants have bee ...

Financial Performance - Sales reached $713 million, a 13% increase overall[9] - Operating Income increased by 23% to $100 million, with a 110 bps year-over-year margin expansion[4] - Diluted EPS increased by 30% to $1.99[15] Segment Performance - Aerospace & Industrial sales increased by 8% to $219 million, driven by strong Commercial Aerospace OEM growth[23] - Defense Electronics sales increased significantly by 31% to $212 million, due to growth in Ground Defense and Aerospace Defense[23] - Naval & Power sales increased by 6% to $282 million, driven by Aerospace Defense and solid growth in Power & Process[23] Guidance and Outlook - Full-year sales growth guidance raised to 5%-7% due to continued strength in Defense Electronics[20] - Expects 8%-11% EPS growth and strong Free Cash Flow (FCF) generation for the full year[20] - Total sales are projected to be between $2985 million and $3035 million, representing a 5%-7% increase[17] Acquisitions and Capital Allocation - Completed the acquisition of WSC, Inc in April 2024 for $34 million in cash[49, 51] - New orders of $901 million, up 26%, reflecting 1.26x Book-to-Bill[32]

Commission File Number 1-134 CURTISS-WRIGHT CORPORATION (Exact name of Registrant as specified in its charter) Delaware 13-0612970 (State or other jurisdiction of incorporation or organization) UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2024 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For th ...

Curtiss-Wright Corporation, Page 1 Exhibit 99.1 CURTISS-WRIGHT REPORTS FIRST QUARTER 2024 FINANCIAL RESULTS AND INCREASES FULL-YEAR 2024 GUIDANCE FOR SALES, OPERATING INCOME AND EPS DAVIDSON, N.C. – May 1, 2024 – Curtiss-Wright Corporation (NYSE: CW) reports financial results for the first quarter ended March 31, 2024. First Quarter 2024 Highlights: Raised Full-Year 2024 Financial Guidance: "Curtiss-Wright delivered strong first quarter 2024 results, exceeding our overall expectations, highlighted by signif ...

For the quarter ended March 2024, Curtiss-Wright (CW) reported revenue of $713.17 million, up 13.1% over the same period last year. EPS came in at $1.99, compared to $1.53 in the year-ago quarter.The reported revenue represents a surprise of +7.24% over the Zacks Consensus Estimate of $665.04 million. With the consensus EPS estimate being $1.75, the EPS surprise was +13.71%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street ...

Curtiss-Wright (CW) came out with quarterly earnings of $1.99 per share, beating the Zacks Consensus Estimate of $1.75 per share. This compares to earnings of $1.53 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 13.71%. A quarter ago, it was expected that this engineering firm would post earnings of $2.92 per share when it actually produced earnings of $3.16, delivering a surprise of 8.22%.Over the last four quarters, the com ...

Curtiss-Wright Corp.’s (CW) precision components are supplied to the aerospace, defense, general industrial and power generation markets, and the increasing adoption of nuclear power and alternative energy sources acts as a tailwind, boosting its performance. Given its growth prospects, CW makes for a solid investment option in the aerospace sector.Let’s focus on the factors that make this Zacks Rank #2 (Buy) company a strong investment pick at the moment.Growth Projections & Surprise HistoryThe Zacks Conse ...

Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering Curtiss-Wright (CW) , which belongs to the Zacks Aerospace - Defense Equipment industry.This engineering firm has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 6.59%.For the most recent quarter, Curtiss-Wright was expected to post earnings of $2.92 per ...

Curtiss-Wright Corporation (CW) recently announced that it has completed the acquisition of WSC, Inc. The transaction was valued at approximately $34 million.Rationale Behind the SaleCurtiss-Wright’s decision to acquire WSC’s business underscores its commitment to focus on its Naval & Power business. The buyout will help CW in achieving long-term profitable growth and strong free cash flow. In 2023, Naval & Power contributed a total of 40% to Curtiss Wright’s total sales.With the acquisition, Curtiss-Wright ...

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