Curtiss-Wright(US:CW)2024-02-15 20:51Financial Performance & Guidance - Curtiss-Wright achieved sales of $786 million, a 4% increase overall in Q4 2023[7] - The company's full-year 2023 sales reached $2.8 billion, up 11%[12] - Diluted EPS for 2023 was $9.38, a 15% increase[7] - The company anticipates 2024 sales to be between $2960 million and $3010 million, representing a 4%-6% increase[20] - Diluted EPS for 2024 is projected to be between $1000 and $1030, a 7%-10% increase[20] Segment Performance & Growth Drivers - Aerospace & Industrial segment saw a 20% growth in Commercial Aerospace OEM in Q4 2023[14] - Aerospace & Defense markets accounted for 67% of total 2024 CW End Markets sales, totaling $1.90 billion to $2.02 billion[2, 49] - Commercial markets represented 33% of total 2024 CW End Markets sales, amounting to $0.94 billion to $0.97 billion[2, 49] - The company expects a 5%-7% growth in Aerospace & Defense markets and a 2%-4% growth in Commercial markets for 2024[16] Strategic Outlook - Curtiss-Wright is targeting an operating margin expansion of 0-20 bps, reaching 174%-176% in 2024[23] - The company's strong backlog and supply chain improvements are expected to drive growth in the Defense market[19] - The company is focused on generating profitable growth and maintaining a strong free cash flow conversion rate of approximately 110%[20, 23]