Curtiss-Wright(US:CW)2024-05-02 20:02Financial 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]