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Curtiss-Wright (CW)
NYSE:CW
Holding CW?
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Earnings Data
Report Date
Feb 19, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$3.09Last Year’s EPS
$3.16Same Quarter Last Year
Moderate Buy
Based on 5 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 30, 2024
|% Change Since: 0.19%
|Next Earnings Date:Feb 19, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted strong financial performance and operational execution, with significant growth in key segments and a positive outlook for the year. Despite some challenges in specific markets and potential risks from ongoing CRs, the overall performance and strategic initiatives position the company well for future growth.Company Guidance
During the Curtiss-Wright Q3 2024 earnings call, the company provided updated full-year guidance reflecting strong performance across several key metrics. Sales are expected to increase by 7% to 9%, driven by growth in the Aerospace & Defense (A&D) and commercial nuclear markets. Operating income is projected to rise by 7% to 10%, with a targeted operating margin expansion while continuing investments in the business. Diluted earnings per share (EPS) are anticipated to grow by 12% to 15%. The company has also raised its free cash flow guidance to a range of $430 million to $450 million, indicating a solid growth of 4% to 9% with a free cash flow conversion rate exceeding 105%. Additionally, Curtiss-Wright completed a $100 million share repurchase program in Q3 and plans to repurchase at least $150 million in shares by the end of 2024. These metrics underscore the company's confidence in its ability to deliver profitable growth and meet its long-term financial objectives.Strong Third Quarter Performance
Sales increased 10% year-over-year to nearly $800 million, driven by strong performance in Defense Electronics and Naval & Power segments. Operating income increased 11% with a 20 basis point margin expansion to 18.7%. Diluted earnings per share increased 17% year-over-year.
Record Defense Electronics Bookings
Defense Electronics segment achieved its highest booking quarter on record, driven by strong demand for tactical communications and flight test equipment.
Rising Backlog and Orders
Year-to-date backlog increased by 16% to a new record of $3.3 billion. Total new orders increased 2% year-over-year in the third quarter with a 1.1x book-to-bill ratio.
Increased Share Repurchase Authorization
The Board approved a $100 million expansion of the 2024 share buyback program, with $150 million in total share repurchases expected for the year.
Upgraded Full Year 2024 Outlook
Sales expected to increase 7% to 9%, operating income to grow 7% to 10%, and diluted EPS growth raised to 12% to 15%.
Free Cash Flow Growth
Free cash flow was $163 million, up 19% year-over-year, with more than 140% conversion.
Commercial Nuclear and SMR Opportunities
Momentum in commercial nuclear highlighted by partnerships with Microsoft, Google, Amazon, and X-energy for SMR developments, with potential revenues ranging from $20 million to $120 million per site.
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CW Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CW Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | $353.54 | $344.76 | -2.48% |
| Aug 07, 2024 | $267.82 | $286.31 | +6.90% |
| May 01, 2024 | $256.46 | $262.40 | +2.32% |
| Feb 14, 2024 | $233.99 | $235.71 | +0.74% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Curtiss-Wright (CW) report earnings?
Curtiss-Wright (CW) is schdueled to report earning on Feb 19, 2025, TBA Not Confirmed.
What is Curtiss-Wright (CW) earnings time?
Curtiss-Wright (CW) earnings time is at Feb 19, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CW EPS forecast?
CW EPS forecast for the fiscal quarter 2024 (Q4) is $3.09.
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