Curtiss-Wright Corporation provides highly engineered products, solutions and services for Aerospace & Defense markets and critical technologies for commercial nuclear power, process and industrial markets. Company news commonly covers quarterly results and guidance, orders and sales trends in defense, commercial aerospace, naval defense, commercial nuclear, process and general industrial applications.
Updates also include program awards and technology milestones, such as mission computer systems for military aircraft, actuation equipment, sensors, surface treatment services, industrial valves, off-highway vehicle products, and reactor-related systems. Capital-return announcements cover common-stock dividends, share repurchase authorizations and Rule 10b5-1 repurchase plans.
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.
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.