Welcome to our dedicated page for Curtiss-Wright news (Ticker: CW), a resource for investors and traders seeking the latest updates and insights on Curtiss-Wright stock.
Curtiss-Wright Corporation (NYSE: CW) is a diversified, multinational provider of highly engineered, technologically advanced products and services. Founded through the merger of companies established by the Wright brothers and Glenn Curtiss in 1929, Curtiss-Wright has evolved from being the largest aircraft company of its time to a global leader in innovative solutions for various industries.
Today, Curtiss-Wright operates in multiple sectors, including commercial, industrial, defense, and energy markets. The company designs and manufactures advanced technologies that perform critical functions under demanding conditions. Their range of products includes industrial vehicle components, control systems, weapons handling systems, pumps, valves, and other sophisticated solutions.
Curtiss-Wright is structured into three main operating segments:
- Naval & Power: This segment provides essential products such as coolant pumps, power-dense compact motors, generators, secondary propulsion systems, valves, and control rod drive mechanisms. It represents a significant portion of the company's revenue.
- Aerospace & Industrial: This division caters to the aerospace and various industrial markets, offering high-performance platforms that demand technical excellence.
- Defense Electronics: This segment focuses on advanced electronic solutions for defense applications, ensuring reliability and performance in critical scenarios.
With operations in the United States, the United Kingdom, Canada, and several other international locations, Curtiss-Wright is well-positioned to serve a global clientele. The company's dedication to innovation and quality has cemented its reputation as a key player in its industry.
Recent achievements and ongoing projects highlight Curtiss-Wright's commitment to excellence. The company continues to secure significant contracts and develop cutting-edge technologies that drive its growth and maintain its competitive edge. Financially, Curtiss-Wright remains robust, consistently delivering solid performance and value to its shareholders.
For investors seeking the latest updates and relevant information about Curtiss-Wright's stock performance, events, and developments, keeping an eye on their latest news and announcements is essential.
Curtiss-Wright (NYSE: CW) has secured a $27 million contract from the Canadian Commercial to supply Aircraft Ship Integrated Securing and Traversing (ASIST) systems for U.S. Navy Constellation Class Frigates. The contract is part of a five-year IDIQ agreement potentially valued at nearly $100 million.
The ASIST system, manufactured at Curtiss-Wright's Mississauga facility, is a free-deck landing system enabling helicopter landings with minimal human interaction in extreme sea conditions. The system features precision Helicopter Position Sensing Equipment that tracks aircraft position and provides visual landing cues to pilots.
Curtiss-Wright has established itself as a leading manufacturer of naval helicopter handling systems, supporting navies globally including Australia, Canada, Chile, India, Singapore, Spain, Turkey, and the United States. The company has a 40-year history of partnership with CCC on U.S. military contracts.
Curtiss-Wright (NYSE: CW) has scheduled its fourth quarter and full-year 2024 financial results release for Wednesday, February 12, 2025, after market close. The company will host a webcast conference call on Thursday, February 13, 2025, at 10:00 am ET, where management will discuss Q4 and full-year 2024 performance, along with 2025 financial outlook.
The conference call will be led by Lynn M. Bamford, Chair and CEO, and K. Christopher Farkas, VP and CFO. Domestic callers can dial (800) 343-5172, while international participants should use (203) 518-9856, with conference ID code CWQ424. The financial release, webcast access, and presentation materials will be available on the company's investor relations website, with a replay accessible post-call.
Curtiss-Wright (NYSE: CW) has completed the acquisition of Ultra Energy for $200 million in cash. Ultra Energy is a leading provider of safety-critical measurement and control systems for Commercial Nuclear and Aerospace & Defense markets, with sales of approximately $65 million in 2023.
The acquisition enhances Curtiss-Wright's global commercial nuclear portfolio with complementary measurement and control solutions supporting plant life extensions and modernization projects. It also expands their presence with leading small modular reactor designers in the U.S. and Europe.
Ultra Energy employs about 300 people with operations in Wimborne, UK, and Round Rock, TX. The business will operate within Curtiss-Wright's Naval & Power segment and is expected to be accretive to adjusted diluted earnings per share in its first full year, with a free cash flow conversion rate exceeding 100%.
Curtiss-Wright (NYSE: CW) has announced a significant expansion of its share repurchase initiatives. The company is adding $100 million to its 2024 share repurchase program, which will run alongside the existing $50 million program. This follows a recently completed $100 million opportunistic program from Q3, bringing total expected repurchases to $250 million in 2024.
Starting January 2025, CW will increase its annual share repurchase commitment to $60 million, up from the previous $50 million plan, aimed at offsetting potential dilution from compensation plans. The company cites its healthy balance sheet and expectations for strong profitability and free cash flow growth as enablers of these initiatives.
Curtiss-Wright (NYSE: CW) announced the retirement of Paul J. Ferdenzi, Vice President, General Counsel and Corporate Secretary, after 25 years with the company. George P. McDonald, who has served as Deputy General Counsel since May 2024 and previously as Associate General Counsel since 1999, has been promoted to fill these roles effective immediately. Ferdenzi will continue as Vice President until year-end to assist with the transition. McDonald, who will report to CEO Lynn M. Bamford, brings extensive experience in corporate transactions and acquisition due diligence, having previously served as chief legal officer to the 's Industrial and Nuclear Divisions since 2015.
Curtiss-Wright (NYSE: CW) has announced a quarterly dividend declaration. The company's Board of Directors has approved a dividend payment of $0.21 per share on Curtiss-Wright Common Stock. The dividend will be paid on December 3, 2024, to stockholders who are on record as of November 22, 2024.
Curtiss-Wright (NYSE: CW) announced its participation in the Baird 2024 Global Industrial Conference. Chair and CEO Lynn M. Bamford and CFO K. Christopher Farkas will engage in a fireside chat discussion on Thursday, November 14, 2024, at 9:40 am CT (10:40 am ET). The event will include a simultaneous webcast, with no formal presentation planned. The webcast link and latest slide presentation will be available on Curtiss-Wright's website, with a 90-day replay period following the discussion.
Curtiss-Wright (NYSE: CW) reported strong Q3 2024 results with sales of $799 million, up 10% year-over-year. The company achieved an operating income of $145 million with an 18.1% operating margin and diluted EPS of $2.89. Notably, new orders reached $860 million, reflecting a 1.1x book-to-bill ratio, while backlog grew 16% year-to-date to $3.3 billion. Based on strong performance, Curtiss-Wright raised its full-year 2024 guidance, now expecting 7-9% sales growth and diluted EPS of $10.55-$10.75, representing 12-15% growth.
Curtiss-Wright (NYSE:CW) congratulates X-Energy Reactor Company on its collaboration with Amazon to generate and deliver over 5 gigawatts of new power projects across the U.S. by 2039, marking the largest commercial deployment target of Small Modular Reactors (SMRs) to date. The partnership aims to support carbon-free projects using X-energy's Xe-100 advanced SMRs and includes long-term power purchase agreements for Amazon's operations, including data centers.
X-energy plans to build one of North America's first grid-scale advanced nuclear reactors in Washington state, initially supporting a four-unit 320-megawatt high-temperature gas reactor plant with potential expansion to 12 units and 960 MW. Curtiss-Wright, as a preferred strategic supplier, is designing and developing three critical systems for the Xe-100 reactor: the Helium Circulator System, Fuel Handling System, and Reactivity Control and Safe Shutdown System.
Curtiss-Wright (NYSE: CW) has announced that it will release its third quarter 2024 financial results after the close of trading on Wednesday, October 30, 2024. The company will hold a webcast conference call on Thursday, October 31, 2024 at 10:00 am ET for management to discuss the financial performance.
The call will be hosted by Lynn M. Bamford, Chair and CEO, and K. Christopher Farkas, VP and CFO. Investors can access the webcast, financial press release, and presentation through the Investor Relations section of Curtiss-Wright's website. For those unable to attend the live webcast, a replay will be available on the company's website shortly after the call.
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