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 two significant contracts from TerraPower for their Natrium advanced nuclear reactor project. The company will develop and deliver a Training Simulator (TSN) and Distributed Control Systems (DCS) for the plant. The TSN will simulate plant operations for operator training, while the DCS will automate plant control processes.
Additionally, Curtiss-Wright will develop two control systems: the Nuclear Island Control system (NIC) and Energy Island Control system (EIC). These contracts build upon previous awards for developing the Reactor Protection System and Engineering Simulator software.
The Natrium reactor, a 345-megawatt sodium fast reactor, features innovative molten salt energy storage technology providing gigawatt-scale storage capacity. TerraPower's project, supported by the U.S. Department of Energy's $3.2 billion Advanced Reactor Demonstration Program, is being constructed in Kemmerer, Wyoming, with expected completion by 2030.
Curtiss-Wright (NYSE: CW) reported strong Q4 and full-year 2024 results, with Q4 sales reaching $824 million (up 5%) and full-year sales hitting $3.1 billion (up 10%). The company achieved record financial performance across multiple metrics in 2024, including:
- Q4 adjusted operating income of $163 million with 19.8% margin
- Q4 adjusted diluted EPS of $3.27, up 3%
- Full-year adjusted operating income of $546 million, up 11%
- Full-year adjusted diluted EPS of $10.90, up 16%
- Record free cash flow of $483 million
New orders reached $3.7 billion in 2024, up 20%, driven by strong Aerospace & Defense market demand. The company's backlog grew 20% to $3.4 billion. For 2025, Curtiss-Wright projects 7-8% sales growth, 40-60 basis points operating margin expansion, and double-digit EPS growth.
Curtiss-Wright (NYSE: CW) announced that its Board of Directors has declared a quarterly dividend of $0.21 per share on its Common Stock. The dividend will be paid on April 14, 2025, to stockholders of record as of March 27, 2025.
Curtiss-Wright (NYSE: CW) has announced a time change for its fourth quarter and full-year 2024 financial results conference call. The company will release its financial results after market close on Wednesday, February 12, 2025, followed by a webcast conference call on Thursday, February 13, 2025, at 11:00 am ET.
The conference call will be hosted by Lynn M. Bamford, Chair and CEO, and K. Christopher Farkas, VP and CFO, who will discuss the company's financial performance and 2025 outlook. Domestic callers can dial (800) 343-5172, while international callers can use (203) 518-9856, with conference ID code CWQ424.
The financial press release, webcast access, and presentation will be available on the company's Investor Relations website. A replay will be accessible on the website one hour after the call.
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.
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