Welcome to our dedicated page for Curtiss-Wright news (Ticker: CW), a resource for investors and traders seeking the latest updates and insights on Curtiss-Wright 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) congratulates X-Energy Reactor Company on its collaboration with Amazon to generate and deliver over 5 gigawatts of new power projects across the U.S. by 2039, marking the largest commercial deployment target of Small Modular Reactors (SMRs) to date. The partnership aims to support carbon-free projects using X-energy's Xe-100 advanced SMRs and includes long-term power purchase agreements for Amazon's operations, including data centers.
X-energy plans to build one of North America's first grid-scale advanced nuclear reactors in Washington state, initially supporting a four-unit 320-megawatt high-temperature gas reactor plant with potential expansion to 12 units and 960 MW. Curtiss-Wright, as a preferred strategic supplier, is designing and developing three critical systems for the Xe-100 reactor: the Helium Circulator System, Fuel Handling System, and Reactivity Control and Safe Shutdown System.
Curtiss-Wright (NYSE: CW) has announced that it will release its third quarter 2024 financial results after the close of trading on Wednesday, October 30, 2024. The company will hold a webcast conference call on Thursday, October 31, 2024 at 10:00 am ET for management to discuss the financial performance.
The call will be hosted by Lynn M. Bamford, Chair and CEO, and K. Christopher Farkas, VP and CFO. Investors can access the webcast, financial press release, and presentation through the Investor Relations section of Curtiss-Wright's website. For those unable to attend the live webcast, a replay will be available on the company's website shortly after the call.
Curtiss-Wright's Nuclear Division and Westinghouse Electric Company have signed a Memorandum of Understanding (MoU) to support AP1000® and AP300™ projects in Canada. This collaboration aims to leverage Curtiss-Wright's extensive portfolio of advanced nuclear power equipment, technology, and services to complement Westinghouse's resources in new build opportunities.
Kurt Mitchell, Senior Vice President and General Manager of Curtiss-Wright's Nuclear Division, emphasized the company's commitment to de-carbonizing the existing energy infrastructure through clean, reliable, and affordable energy solutions. The partnership underscores Curtiss-Wright's dedication to delivering innovative, safety-critical solutions to their customers while supporting the advancement of Westinghouse's reactor technologies in Canada and globally.
Curtiss-Wright (NYSE: CW) has announced a $100 million expansion of its 2024 share repurchase program, bringing the total expected annual share repurchases to $150 million in 2024. The company's Board of Directors has also declared a quarterly dividend of $0.21 per share on Curtiss-Wright Common Stock, payable on October 11, 2024. CEO Lynn M. Bamford emphasized the company's commitment to a disciplined capital allocation strategy, focusing on organic growth, strategic acquisitions, and returning capital to shareholders. The expanded program reflects the Board's confidence in Curtiss-Wright's ability to deliver profitable growth and strong free cash flow generation. The company is currently executing its existing $50 million share repurchase program and will begin the additional $100 million repurchase immediately via a 10b5-1 program.
Curtiss-Wright (NYSE: CW) has been awarded a $26 million multi-year contract by the Belgian Air Force to modernize its aircraft arresting systems. The contract includes providing new cable systems and turnkey services to three airbases in preparation for the F-35 delivery to Belgium. Curtiss-Wright will equip the main and parallel runways of Florennes, Kleine-Brogel, and Bevauchain Air Bases with standardized configurations.
The contract also covers various services, spares, repair, and overhaul to support Belgian Air Force's military flight operations. Curtiss-Wright's ESCO SmartArrest® system, a computerized version of the ESCO BAK-12 energy absorber, will be implemented to ensure automatic arrestment of multiple fighter jet platforms. The work will be performed within Curtiss-Wright's EMS division in the Naval & Power segment, with manufacturing taking place in Aston, Pa, and Merpins, France.
Curtiss-Wright (NYSE: CW) is celebrating its 95th anniversary of listing on the New York Stock Exchange by ringing The Closing Bell® on August 29, 2023. The company, which began trading on the NYSE on August 22, 1929, is one of the 50 longest-listed companies on the exchange.
Chair and CEO Lynn M. Bamford will ring the bell, accompanied by executive leadership team members and guests. Curtiss-Wright traces its origins to aviation pioneers Glenn H. Curtiss and the Wright Brothers, formed through a merger on July 5, 1929.
The company continues to embrace innovation through investments in advanced technologies and is executing its Pivot to Growth strategy for long-term success. The event will be webcast live at 3:56 p.m. EDT via www.nyse.com/bell.
Curtiss-Wright (NYSE: CW) has announced its participation in three upcoming investor conferences. Lynn M. Bamford, Chair and CEO, and K. Christopher Farkas, VP and CFO, will represent the company at these events:
1. Jefferies Industrials Conference on September 4, 2024 (fireside chat at 1:20 pm ET)
2. Gabelli 30th Annual Aerospace & Defense Symposium on September 5, 2024 (fireside chat at 10:00 am ET)
3. Morgan Stanley 12th Annual Laguna Conference on September 12, 2024 (fireside chat at 3:10 pm PT / 6:10 pm ET)
Webcasts of the fireside chats and the latest slide presentation will be available on Curtiss-Wright's website. Replays will be accessible for 90 days after each discussion.
Curtiss-Wright (NYSE: CW) has announced its participation in the Seaport Research Partners Annual Summer Investor Conference on August 20, 2024. The company's Vice President and Chief Financial Officer, K. Christopher Farkas, will attend the event virtually. While there will be no formal presentation or webcast, investors can access the latest slide presentation on the company's website in the Investor Relations section.
This virtual participation highlights Curtiss-Wright's commitment to engaging with investors and maintaining transparency. The conference provides an opportunity for the company to showcase its financial performance and strategic initiatives to a broader audience of potential investors and analysts.
Curtiss-Wright Corp. (NYSE: CW) reported strong second-quarter 2024 financial results with sales of $785 million, up 11% YoY. Operating income was $129 million, with a margin of 16.4%, while adjusted income reached $133 million. Adjusted EPS increased by 24% to $2.67. The company recorded new orders worth $995 million, reflecting an 18% increase and a book-to-bill ratio of 1.3x. The backlog rose 13% to $3.2 billion, and free cash flow was $100 million.
Full-year 2024 guidance has been raised: sales growth forecast of 6-8%, operating income growth of 6-9%, and EPS range of $10.40-$10.65. FCF is expected to be $425-$445 million. The effective tax rate was reduced by 100 bps to 22.5%.
Curtiss-Wright also announced a $200 million acquisition of Ultra Energy, which is anticipated to be accretive to adjusted EPS and generate FCF with over 100% conversion.
The company continues to implement its Pivot to Growth strategy, including restructuring actions expected to save $10 million annually by 2025.
Curtiss-Wright (NYSE: CW) and Saipem have achieved a significant milestone in the subsea applications industry with the completion of the qualification process for an all-electric seabed barrier fluid-less pump. This innovative technology, developed from proprietary solutions in the nuclear sector, enables subsea injection of treated sea water into reservoirs, extending the lifecycle of subsea fields.
The new pump design eliminates the need for barrier fluid, using sea water for cooling and lubrication, while the motor is protected by a canned casing. This approach reduces costs by replacing conventional hydraulic umbilicals with power/control cables. A 3 MW full-scale prototype has been successfully tested, confirming its performance, robustness, and reliability. The technology has achieved Technology Readiness Level 4 (TRL 4), as endorsed by Petrobras and TotalEnergies, paving the way for global commercialization.
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