Curtiss-Wright(US:CW)2025-07-09 09:40Q3 2021 Performance Highlights - Adjusted Sales increased by 12% overall[5] - Aerospace & Defense (A&D) markets were up by 15%[5] - Commercial markets increased by 6%[5] - Adjusted Operating Income rose by 12%, resulting in an Adjusted Operating Margin of 17.5%[5] - Adjusted Earnings Per Share (EPS) reached $1.88, exceeding expectations[5] - Adjusted Free Cash Flow (FCF) grew significantly by 76% to $97 million, with a 127% FCF conversion rate[5] - New Orders showed strong growth of 13%, leading to a Book-to-bill ratio exceeding 1.0x[5] Capital Allocation and Guidance - Share repurchase authorization expanded by $400 million, with a $200 million opportunistic program completed[5] - The company remains on track to complete $250 million in repurchases in 2021, expecting to repurchase approximately 2.0 million total shares[5] - $350 million open repurchase authorization remaining[5] - Full-year guidance maintained for Sales, Operating Income, Operating Margin, and FCF[5] - Adjusted EPS range raised, now $7.20 - $7.35, up 9% - 12%[5] 2021E Financial Outlook - Total Sales are projected to be between $2,465 million and $2,515 million, representing a 7% - 9% increase compared to 2020 Adjusted figures[8] - Aerospace & Industrial segment sales are expected to be between $760 million and $775 million, a 3% - 5% increase[8] - Defense Electronics segment sales are projected to be between $745 million and $760 million, a 22% - 24% increase[8] - Naval & Power segment sales are expected to be between $960 million and $980 million, a 1% - 3% increase[8] - Total Operating Income is projected to be between $411 million and $421 million, up 9% - 12%[10]