DAVIDSON, N.C.--(BUSINESS WIRE)--Curtiss-Wright Corporation (NYSE: CW) today announced that the Board of Directors declared a dividend of twenty cents ($0.20) per share on Curtiss-Wright Common Stock, payable April 15, 2024 to stockholders of record as of March 28, 2024. About Curtiss-Wright Corporation Curtiss-Wright Corporation (NYSE: CW) is a global integrated business that provides highly engineered products, solutions and services mainly to Aerospace & Defense markets, as well as critical technologie ...

Most of us have heard the dictum "the trend is your friend." And this is undeniably the key to success when it comes to short-term investing or trading. But it isn't easy to ensure the sustainability of a trend and profit from it.Often, the direction of a stock's price movement reverses quickly after taking a position in it, making investors incur a short-term capital loss. So, it's important to ensure that there are enough factors -- such as sound fundamentals, positive earnings estimate revisions, etc. -- ...

Moog (MOG.A) came out with quarterly earnings of $1.53 per share, beating the Zacks Consensus Estimate of $1.47 per share. This compares to earnings of $1.25 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 4.08%. A quarter ago, it was expected that this aerospace contractor would post earnings of $1.71 per share when it actually produced earnings of $2.10, delivering a surprise of 22.81%.Over the last four quarters, the compan ...

Financial Performance and Guidance - Curtiss-Wright expects 2023 sales between $2765 million and $2815 million [22, 153] - The company anticipates an adjusted diluted EPS of $900 to $920 in 2023 [78, 161] - Curtiss-Wright projects free cash flow between $380 million and $400 million in 2023 [78, 161] - The company is targeting organic sales growth of 7% to 9% in 2023 [67, 153] Market Segmentation and Growth - Aerospace & Defense is expected to account for 67% of 2023 sales, while Commercial markets will contribute 33% [33] - Within Aerospace & Defense, Naval Defense is projected to be 27% of sales, Aerospace Defense 19%, and Ground Defense 10% [42, 44] - Commercial Aerospace is expected to be 11% of total sales, Power & Process 18%, and General Industrial 15% [2, 8, 14, 46, 48] - Commercial markets are expected to grow 3%-5%, or 6%-8% excluding the CAP1000 program [67] Strategic Initiatives - Curtiss-Wright is focused on accelerating organic growth through innovation and collaboration [84] - The company is leveraging cross-over technologies to build upon the strength of its combined portfolio [18, 95] - A disciplined capital allocation strategy is in place, prioritizing M&A [97, 98] ESG and Sustainability - Curtiss-Wright is committed to advancing its ESG efforts, including supporting green technologies and energy independence [91, 92]

Curtiss-Wright Corporation (NYSE:CW) Q3 2023 Earnings Conference Call November 2, 2023 10:00 AM ET Company Participants Jim Ryan - Vice President, Investor Relations Lynn Bamford - Chair & Chief Executive Officer Chris Farkas - Vice President & Chief Financial Officer Conference Call Participants Peter Arment - Baird Kristine Liwag - Morgan Stanley Nathan Jones - Stifel Peter Osterland - Truist Greg Dahlberg - Wolf Research Louie DiPalma - William Blair Operator Welcome to the Curtiss-Wright Third Quarter 2 ...

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 September 30, 2023 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from _________ to _______ Commission File Number 1-134 CURTISS-WRIGHT CORPORATION (Exact name of Registrant as specified in its charter) Delaware 13-0612970 (State or oth ...

Financial Data and Key Metrics Changes - Sales increased 16% overall to $704 million and improved 12% organically, reflecting strength across all end markets [83][84] - Operating income increased 77%, with operating margin improving 540 basis points due to favorable absorption on strong sales growth [86] - Full year adjusted diluted EPS guidance raised to a range of $8.90 to $9.15, representing an increase of 10% to 13% [10][11] Business Line Data and Key Metrics Changes - Aerospace and Defense segment saw a 23% growth driven by improved supply chain conditions and strong conversion on backlog [83][92] - Commercial aerospace experienced 20% sales growth due to strong OEM demand for sensors and surface treatment services [83][92] - Defense Electronics segment sales increased 32%, reflecting improving supply chain conditions and strong order activity [93] - Naval and Power segment reported 12% sales growth, driven by the arresting systems business and commercial nuclear market [94][95] Market Data and Key Metrics Changes - The order book grew 8% year-over-year, with a book-to-bill ratio of 1.2x in Q2 2023 [3] - Total sales in aerospace and defense markets are expected to increase by 9% to 11% [6] - The general industrial market is expected to see sales growth of 3% to 5%, primarily driven by improved on-highway sales [99] Company Strategy and Development Direction - The company is focused on executing its "Pivot to Growth" strategy to drive long-term profitable growth [108] - Increased investment in R&D is planned to support operational excellence and future growth [66][78] - The company aims to secure new contracts for reactor coolant pumps within the next two to four years, capitalizing on the growing commercial nuclear market [110][112] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the supply chain recovery and its positive impact on future performance [54][66] - The company anticipates a strong finish to 2023, with expectations for record sales, profitability, and new orders [26][108] - Management highlighted the importance of customer satisfaction and collaboration in navigating supply chain challenges [40][42] Other Important Information - Free cash flow outlook raised to a range of $370 million to $400 million, reflecting strong growth of 25% to 36% [11] - The company is actively pursuing M&A opportunities, with ongoing evaluations of potential acquisitions [44] Q&A Session Summary Question: What is the outlook for the defense electronics business? - Management indicated a strong order book with $945 million in orders over the last 12 months, providing confidence for growth in 2024 [30][64] Question: How is the supply chain recovery impacting operations? - Management noted significant improvements in supply chain conditions, which have positively influenced order fulfillment and customer satisfaction [54][66] Question: What are the expectations for the nuclear market? - Management expects to secure substantial contracts in the commercial nuclear sector, with a focus on advanced small modular reactors [110][112]

Financial Performance - For the three months ended June 30, 2023, total net sales increased to $704.4 million, up 15.6% from $609.4 million in the same period of 2022[23] - Gross profit for the same period was $259.6 million, representing a gross margin of 36.8%, compared to $228.5 million and a gross margin of 37.5% in 2022[23] - Net earnings for the three months ended June 30, 2023, were $81.0 million, an increase of 15.8% from $70.9 million in 2022[23] - Basic earnings per share rose to $2.11, up from $1.84 in the prior year, reflecting a 14.7% increase[23] - The company reported a comprehensive income of $100.1 million for the three months ended June 30, 2023, compared to $34.5 million in the same period of 2022[25] - Operating income for the three months ended June 30, 2023 was $112.8 million, an increase from $98.1 million in the same period of 2022[181] - Comprehensive income for the second quarter of 2023 was $100 million, compared to $35 million in the prior year, driven by a $19 million foreign currency translation gain[205] - The Corporation's comprehensive income for the six months ended June 30, 2023, was $171 million, compared to $74 million in the prior year, reflecting a significant increase[206] Expenses and Costs - Research and development expenses decreased to $20.2 million, down 15.3% from $23.9 million in the same quarter of 2022[23] - Depreciation and amortization expenses for the three months ended June 30, 2023, were $57,975 thousand, up from $53,645 thousand in the same period of 2022[35] - The Corporation's share-based compensation expense for the three months ended June 30, 2023, was $8,859 thousand, compared to $7,580 thousand for the same period in 2022[35] - Total intangible amortization expense for the six months ended June 30, 2023 was $33 million, compared to $28 million in the prior year period[168] - The defined contribution plan expense for the six months ended June 30, 2023, was $12.2 million, compared to $10.3 million in the same period of 2022, reflecting a 18.4% increase[188] Assets and Liabilities - Total current assets as of June 30, 2023, were $1.52 billion, slightly up from $1.52 billion in 2022[18] - Total liabilities decreased to $2.30 billion from $2.46 billion year-over-year, indicating a reduction of 6.4%[18] - Cash and cash equivalents decreased to $158.7 million from $257.0 million in the previous year, a decline of 38.4%[18] - Receivables, net as of June 30, 2023, totaled $751,532 thousand, an increase from $724,603 thousand as of December 31, 2022[53] - Inventories, net as of June 30, 2023, amounted to $545,596 thousand, compared to $483,113 thousand as of December 31, 2022, reflecting an increase of 13%[55] - Total debt as of June 30, 2023 was $1,172.5 million, with an estimated fair value of $1,079.8 million[175] Cash Flow - Cash flows from operating activities provided $19,353 thousand for the three months ended June 30, 2023, compared to a cash outflow of $93,271 thousand for the same period in 2022[35] - Operating cash inflow for the six months ended June 30, 2023, was $19,353,000, a significant improvement from a cash outflow of $93,271,000 in the same period of 2022[124] - Net cash provided by operating activities increased by $113 million from the prior year period, primarily due to higher cash earnings and improved working capital[120] - The net increase in cash and cash equivalents for the six months ended June 30, 2023, was a decrease of $98,237,000, compared to a net increase of $410,000 in the same period of 2022[124] Dividends and Share Repurchase - The company declared dividends of $0.20 per share, up from $0.19 per share in the same quarter of 2022[23] - The Corporation repurchased approximately 0.1 million shares of its common stock for the three months ended June 30, 2023[39] - The Corporation repurchased approximately 72,703 shares at an average price of $170.26 per share during the quarter ended June 30, 2023, with $200 million remaining available for repurchase under its program[146] - The Corporation made dividend payments of $7 million during the six months ended June 30, 2023, compared to $14 million in the same period of 2022, with an increase in quarterly dividend to $0.20 per share starting in Q2 2023[130] Market Segments and Sales - The Aerospace & Defense segment reported total sales of $466,056 thousand for the second quarter of 2023, up from $379,916 thousand in the same quarter of 2022, representing a 23% increase[51] - The Defense Electronics segment's sales increased by $48 million, or 27%, to $226 million in the second quarter of 2023 compared to the prior year[84] - Sales in the Naval & Power segment for the six months ended June 30, 2023 increased by $70 million, or 15%, to $547 million, mainly due to higher sales in the aerospace defense and power & process markets[106] - Sales in the power & process market increased by $33 million, or 8%, to $461 million, driven by higher industrial valve sales and nuclear aftermarket sales[122] - Total sales for Curtiss-Wright increased by $134 million, or 18%, to $875 million for the six months ended June 30, 2023, with contributions from all markets[119] Orders and Backlog - Total backlog as of June 30, 2023, was approximately $2.8 billion, with an expectation to recognize about 90% as net sales over the next 36 months[50] - New orders in the second quarter increased by $65 million compared to the prior year, attributed to the acquisition of arresting systems and increased orders for nuclear aftermarket products[207] - New orders during the six months ended June 30, 2023 increased by $33 million, primarily due to the impact from the arresting systems acquisition and increased orders for nuclear aftermarket products[110] Interest and Debt Management - The Corporation's interest expense for the second quarter of 2023 increased by $5 million, or 53%, to $15 million, primarily due to the issuance of $300 million Senior Notes in October 2022[80] - The average interest rate on the Corporation's debt was 4.1% for the three months ended June 30, 2023, compared to 3.2% for the same period in 2022[164] - As of June 30, 2023, the Corporation had $125 million of outstanding borrowings under the Credit Agreement and $604 million of unused credit available without violating debt covenants[135] - The Corporation's management is in compliance with all debt agreements and credit facility covenants, maintaining a debt to capitalization limit of 60%[137]

Curtiss-Wright Corporation (NYSE:CW) Q1 2023 Earnings Conference Call May 4, 2023 10:00 AM ET Company Participants Jim Ryan - Vice President, Investor Relations Lynn Bamford - Chair & Chief Executive Officer Chris Farkas - Vice President & Chief Financial Officer Conference Call Participants Kristine Liwag - Morgan Stanley Peter Arment - Baird Myles Walton - Wolfe Research. Michael Ciarmoli - Truist Securities Tony Bancroft - Gabelli Funds Adam Farley - Stifel Operator Welcome to the Curtiss-Wright First Q ...

Q1 2023 Earnings Presentation Q1 2023 EARNINGS CONFERENCE CALL May 4, 2023 Conference Call Dial-in numbers: (800) 274-8461 (domestic) (203) 518-9843 (international) Conference code: CWQ123 SAFE HARBOR STATEMENT Please note that the information provided in this presentation is accurate as of the date of the original presentation. The presentation will remain posted on this website from one to twelve months following the initial presentation, but content will not be updated to reflect new information that may ...