Curtiss-Wright Corp. - CW STOCK NEWS

Curtiss-Wright Corporation (NYSE: CW) has been selected for Project SAFARI, funded by the U.S. Department of Energy, aimed at developing Digital Twin technology for advanced nuclear reactors. This initiative is part of the GEMINA program by ARPA-E, focusing on enhancing operational efficiency and safety in nuclear plants. Collaborating with teams from the University of Michigan, Idaho National Laboratory, and others, Curtiss-Wright aims to leverage its extensive nuclear monitoring experience to ensure improved reliability and cost-effectiveness in future nuclear power operations.

Curtiss-Wright Corporation (NYSE: CW) has secured a $24 million contract from Lockheed Martin to upgrade the U.S. Navy’s MH-60R/S Seahawk helicopters, with a potential lifetime value of $70 million. The contract involves supplying Modular Open System Approach (MOSA) computers and video processing modules. This upgrade aims to enhance display graphics, compatibility, and integration with advanced computing features. Shipments started in December 2020, reinforcing Curtiss-Wright's leadership in COTS technologies.

Curtiss-Wright Corporation (NYSE: CW) has delivered primary flight control actuators and control electronics to Eviation Aircraft for its all-electric Alice aircraft, poised for its first flight. The high-power density electromechanical actuators provide a modular, flexible control architecture, enhancing cost-efficiency and program reliability. Lynn M. Bamford, CEO of Curtiss-Wright, highlighted the company’s commitment to pioneering electric actuation in aviation. Eviation aims to revolutionize regional air travel with the sleek, zero-emission Alice, supported by Curtiss-Wright's advanced technology.

Curtiss-Wright Corporation (NYSE: CW) announced that CEO Lynn M. Bamford and CFO K. Christopher Farkas will participate in two virtual investor conferences. The first is the UBS Global Industrials and Transportation Virtual Conference on June 8, 2021, at 1:00 pm ET, followed by the Stifel 2021 Virtual Cross Sector Insight Conference on June 10, 2021, at 9:20 am ET. There will be no formal presentations, but a webcast link and slide presentations will be available on the company's website for up to 30 days after each event.

Curtiss-Wright Corporation (NYSE: CW) has secured a contract with Hyster-Yale Group to provide advanced in-cab operator controls for their new modular Internal Combustion and Electric lift trucks. This new product range, designed for capacities between 1 to 10 tons, emphasizes electronification in industrial vehicles. Under this contract, Curtiss-Wright will deliver customized components such as modular armrests and steering controls. Delivery is slated for the second quarter of 2021, reinforcing the collaborative relationship between the two companies.

Curtiss-Wright Corporation (NYSE: CW) announced a virtual Investor Day set for 8:30 a.m. ET, featuring presentations by senior executives. The focus will be on the company's new strategy aimed at long-term growth, emphasizing innovation, collaboration, and strategic investments. The company introduced new financial targets, including a 5-10% CAGR in total revenue and an adjusted EPS CAGR of at least 10% over the next three years. CEO Lynn M. Bamford highlighted the company’s operational excellence and disciplined financial management, aiming to unlock significant value for stakeholders.

Curtiss-Wright Corporation (NYSE: CW) has secured contracts exceeding $130 million from Bechtel Plant Machinery, Inc. and General Dynamics Electric Boat for propulsion valves, pumps, and advanced systems for U.S. Navy vessels, including Virginia-class submarines and Ford-class carriers. Engineering and manufacturing will occur at facilities in New York and Pennsylvania, continuing through 2025. The contracts reflect Curtiss-Wright's longstanding relationship with the U.S. Nuclear Navy, emphasizing their role in enhancing naval defense capabilities.

Curtiss-Wright Corporation (NYSE: CW) announced a 6% increase in its quarterly dividend to $0.18 per share, payable on July 2, 2021, for stockholders on record as of June 18, 2021. This increase highlights the Board's confidence in the company's robust financial position and commitment to returning value to shareholders. CEO Lynn M. Bamford emphasized the disciplined capital allocation strategy, focusing on organic growth, strategic acquisitions, and consistent dividend distributions, aiming for long-term shareholder value.

Curtiss-Wright Corporation (NYSE: CW) reported Q1 2021 financial results, noting sales of $597 million with a net income of $59.5 million and diluted EPS of $1.45. Adjusted EPS rose to $1.51, a 18% increase. Aerospace & Defense segments saw an 8% sales growth, and new orders reached $571 million. The company raised its 2021 sales growth guidance to 7-9% and diluted EPS guidance to $7.10-$7.30, primarily driven by strong performance in Defense Electronics.