Welcome to our dedicated page for Curtiss-Wright Corporation news (Ticker: CW), a resource for investors and traders seeking the latest updates and insights on Curtiss-Wright Corporation 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) will announce its second quarter 2024 financial results after the market closes on Wednesday, August 7, 2024. A webcast conference call discussing the results will be held the following day, August 8, 2024, at 10:00 am ET.
The call will be hosted by CEO Lynn M. Bamford and CFO K. Christopher Farkas. Interested parties can access the webcast and financial presentation via the Investor Relations section on Curtiss-Wright's website. The domestic dial-in number is (800) 225-9448, and international callers can use (203) 518-9708 with the conference ID code CWQ224. A replay will be available one hour after the live call on the company's website.
Curtiss-Wright (NYSE: CW) announced an agreement to acquire Ultra Nuclear and Weed Instrument Co., Inc. ('Ultra Energy') for $200 million in cash. Ultra Energy specializes in safety-critical systems for nuclear power generation and aerospace applications. The acquisition, expected to close in Q3 2024, aims to enhance Curtiss-Wright's global portfolio and is projected to be accretive to adjusted diluted EPS in its first full year. Ultra Energy, generating $65 million in sales in 2023, will operate within Curtiss-Wright's Naval & Power segment, potentially driving long-term profitable growth and strong free cash flow. Regulatory approval from the UK is pending.
Curtiss-Wright (NYSE: CW) has announced that its Chair and CEO, Lynn M. Bamford, alongside VP and CFO, K. Christopher Farkas, will participate in two upcoming investor conferences. These events include the Stifel 2024 Cross Sector Insight Conference on June 4, 2024, featuring a fireside chat and webcast at 1:50 p.m. ET, and the William Blair 44th Annual Growth Stock Conference on June 6, 2024, with a presentation, fireside chat, and webcast at 8:40 a.m. CT (9:40 a.m. ET). Webcasts and slide presentations will be accessible on Curtiss-Wright's investor relations webpage, with replays available for 90 days post-event.
Curtiss-Wright (NYSE: CW) hosted an Investor Day in New York City, reaffirming its full-year 2024 financial guidance and presenting a long-term outlook through 2026. The event featured presentations by senior executives, including Chair and CEO Lynn M. Bamford, and Vice President and CFO K. Christopher Farkas. Key financial targets include a minimum 5% organic revenue CAGR, minimum 10% EPS CAGR, and strong free cash flow generation. The company aims to expand operating margins and make strategic investments in R&D to accelerate growth. The event also included a panel of commercial nuclear energy experts from the Nuclear Energy Institute, Westinghouse Electric Company, and Energy Northwest, highlighting Curtiss-Wright's focus on leveraging growth opportunities in the commercial nuclear sector.
Curtiss-Wright (NYSE: CW) has secured a $16 million contract with Iron Bow, the prime contractor, to supply the U.S. Air Force with an integrated tactical networking solution aimed at improving deployable communications.
The contract includes providing PacStar® 400 series modules and Commercial Solutions for Classified (CSfC) integration, enabling global connectivity to Department of Defense Information Networks (DoDIN).
This solution incorporates software automation to enhance connectivity and security across various classification levels. The contract’s estimated lifetime value exceeds $60 million and will be executed by Curtiss-Wright's Defense Solutions division until the end of 2027.
Curtiss-Wright (NYSE: CW) announced that its Chair and CEO, Lynn M. Bamford, along with Vice President and CFO, K. Christopher Farkas, will participate in the Wolfe Research 17th Annual Global Transportation & Industrials Conference.
The event includes a fireside chat discussion and a simultaneous webcast on May 22, 2024, at 12:45pm ET. No formal presentations will be held. The webcast and latest slide presentation can be accessed via Curtiss-Wright's Investor Relations section on their website. A replay will be available for 90 days post-event.
Curtiss-Wright (NYSE: CW) announced contracts exceeding $130 million to supply critical components for U.S. Navy's Virginia-class and Columbia-class submarines, and Ford-class aircraft carriers.
The deals include propulsion valves, pumps, and advanced instrumentation. These contracts, awarded by Bechtel Plant Machinery, Inc. (BPMI), support ship construction, spare parts, and submarine back-fit procurements.
Engineering and manufacturing will occur in New York and Pennsylvania facilities and will continue until 2029. Curtiss-Wright's technologies enhance safety, efficiency, and reduce costs for naval operations.
Curtiss-Wright (NYSE: CW) announced a $300 million increase in share repurchase authorization, raising the total to $400 million, along with a 5% dividend increase to $0.21 per share. This decision showcases the company's commitment to providing returns to its shareholders and reflects confidence in its financial strength and ability to generate free cash flow.
Curtiss-Wright (NYSE: CW) reported strong first-quarter 2024 financial results with sales of $713 million, up 13%, operating income of $100 million, up 27%, and diluted EPS of $1.99. The company raised its full-year 2024 guidance, increasing sales growth to 5-7%, operating income to 5-8%, and diluted EPS to $10.10-$10.40, up 8-11%. Curtiss-Wright also maintained its free cash flow range of $415-$435 million.
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