Curtiss Wright Corp Stock Price, News & Analysis

Curtiss-Wright Corporation (NYSE: CW) will announce its second quarter 2022 financial results on August 3, 2022, after market close. A conference call to discuss the results will occur on August 4, 2022, at 10:00 AM ET, hosted by CEO Lynn M. Bamford and CFO K. Christopher Farkas. Investors can access the press release and the call via Curtiss-Wright’s Investor Relations webpage.

Curtiss-Wright Corporation (NYSE: CW) has successfully acquired Safran Aerosystems Arresting Company for $240 million. This acquisition enhances Curtiss-Wright's position as a leader in fixed-wing aircraft recovery and arresting systems, with SAA contributing a strong portfolio of over 5,000 systems in more than 70 countries. The deal is projected to be accretive to adjusted diluted earnings per share in the first full year and is aimed at long-term profitable growth, leveraging SAA's established aftermarket services and global reach.

Curtiss-Wright Corporation (NYSE: CW) announced that CEO Lynn M. Bamford and CFO K. Christopher Farkas will participate in the Stifel 2022 Cross Sector Insight Conference. The event is scheduled for June 8, 2022, at 9:10 am ET, featuring a fireside chat format without a formal presentation. Interested parties can access the webcast via the company's Investor Relations website, with a replay available for 90 days post-event.

Curtiss-Wright, focusing on Aerospace & Defense, employs 7,800 skilled workers and emphasizes engineered solutions for critical markets.

Curtiss-Wright Corporation (NYSE: CW) has announced a new credit agreement with eight banks, increasing its revolving credit facility to $750 million and expanding the accordion feature by $250 million. The five-year term will mature in May 2027, replacing the previous facility set to expire in October 2023. This funding aims to enhance financial flexibility for general corporate purposes, including acquisitions and growth initiatives, supporting the company’s Pivot to Growth strategy.

Curtiss-Wright Corporation (NYSE: CW) has announced a 6% increase in its quarterly dividend to $0.19 per share, payable on July 1, 2022, to stockholders of record by June 17, 2022. This decision reflects the Board's confidence in the company's strong financial position and commitment to returning value to shareholders. CEO Lynn M. Bamford highlighted the company's disciplined capital allocation strategy, which includes strategic acquisitions and organic growth investments, reinforcing their aim of aligning dividend increases with long-term sales growth.

Curtiss-Wright Corporation (NYSE: CW) announced that Lynn M. Bamford has succeeded David C. Adams as Chair of the Board of Directors effective May 5, 2022. Adams retires as Executive Chairman but remains on the Board. Bamford emphasized the company's commitment to its 'Pivot to Growth' strategy, aiming to enhance revenue and shareholder value. She acknowledged Adams' 22 years of service, highlighting his contribution to achieving top-quartile financial performance and shareholder value.

Curtiss-Wright Corporation (NYSE: CW) reported Q1 2022 sales of $559 million, reflecting a 6% decline year-over-year. Diluted EPS was $1.05, with adjusted EPS at $1.31. New orders increased by 12% to $634 million, bolstered by strong demand in Aerospace & Defense and Commercial sectors. However, operating income fell by 29% to $61 million, with an operating margin of 10.8%. Management maintains full-year sales growth guidance of 3% to 5%, alongside a 10% to 12% increase in adjusted EPS. Share repurchases totaled $12 million and a quarterly dividend of $0.18 was declared.

Curtiss-Wright Corporation (NYSE: CW) has secured a $25 million contract from Rheinmetall BAE Systems Land (RBSL) to supply turret drive stabilization technology for the British Army's Challenger 3 Main Battle Tank. This contract highlights Curtiss-Wright's leadership in defense technology, as their Turret Drive Servo System (TDSS) enhances accuracy and stabilization while moving at full speed. The upgrade aims to improve the tank’s capabilities with advanced lethality, survivability, and surveillance features, demonstrating a long-term partnership with RBSL.

Curtiss-Wright Corporation (NYSE: CW) has been selected by Progeny to deliver Modular Open System Approach (MOSA) computers and digital processing modules for the U.S. Navy's MK54 and MK48 torpedo upgrade programs. This contract is valued at $70 million and showcases Curtiss-Wright's leadership in rugged commercial-off-the-shelf (COTS) technologies. The modules are being shipped to facilities in Manassas, Virginia and Charleroi, Pennsylvania. The company emphasizes the rapid and cost-effective modernization of military platforms through open-standards solutions.