Curtiss-Wright Corp. - CW STOCK NEWS

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.

Curtiss-Wright Corporation (NYSE: CW) has been awarded a contract by Scientific Research Corporation (SRC) to supply its Fortress flight recorder system for upgrading the T-6 Texan II trainer aircraft, utilized by the U.S. Air Force and Navy. This contract showcases Curtiss-Wright's strengths in leveraging commercial market technologies for military applications. The Fortress CVR25, combining cockpit voice and flight data recorders, will enhance flight safety and pilot training programs, adhering to ED-112A standards.

Curtiss-Wright Corporation (NYSE: CW) will host a Virtual Investor Day on May 26, 2021, from 8:30 a.m. EDT to 11:30 a.m. EDT. The event features key presentations from senior management, including Lynn M. Bamford, K. Christopher Farkas, and Kevin M. Rayment. Attendees will learn about the company's strategy for long-term growth and new financial targets, followed by a Q&A session. A live webcast will be available on the company's Investor Relations website, with registration encouraged. An archived replay will be accessible for one year.

Curtiss-Wright Corporation (NYSE: CW) is set to release its first quarter 2021 financial results after trading on May 5, 2021. A conference call will follow on May 6, 2021, at 10:00 am ET, featuring CEO Lynn M. Bamford and CFO K. Christopher Farkas. The financial results will be accessible on their Investor Relations website, along with a webcast for those unable to attend live. Domestic and international dial-in numbers are provided for the conference call, and replays will be available post-event.

Curtiss-Wright (NYSE: CW) has secured a contract from Lockheed Martin to supply rugged COTS processor modules for the F-22 Raptor, enhancing its avionics systems. This milestone aligns with the USAF's Digital Trinity for e-systems, aiming for cost-effective upgrades. The processor card, the first of its kind for the F-22, underwent rigorous testing to meet stringent environmental standards. Manufacturing started in Q4 2020, with shipments expected through 2023. This partnership reflects a commitment to open standards in defense systems.

Curtiss-Wright Corporation (NYSE: CW) announced that Lynn M. Bamford, President and CEO, and K. Christopher Farkas, CFO, will participate virtually in the Bank of America Global Industrials Conference on March 17, 2021. There will be no formal presentation or webcast. Interested parties can access the latest slide presentation in the Investor Relations section of Curtiss-Wright’s website. The company specializes in delivering engineered products and services across various markets, employing about 8,200 people globally.

Curtiss-Wright Corporation (NYSE: CW) reported its Q4 and full-year 2020 results, highlighting a diluted EPS of $1.30 and adjusted EPS of $2.39, a 12% increase. The company's free cash flow reached a record $246 million, with adjusted free cash flow up 3% to $256 million. While Q4 net sales rose 2% to $668 million, full-year sales decreased by 4% to $2.4 billion. The defense segment saw a 27% sales increase, but commercial markets were down 18%. Looking ahead, Curtiss-Wright forecasts mid-to-high single-digit growth for 2021 across sales and earnings.