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 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 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.
Curtiss-Wright Corporation (NYSE: CW) is set to release its first quarter 2022 financial results on May 4, 2022, after market close. A conference call will take place on May 5, 2022, at 10:00 am ET, with CEO Lynn M. Bamford and CFO K. Christopher Farkas leading the discussion. Investors can access the financial press release and webcast on the company's website. For those unable to attend live, a replay will be available for 90 days post-call.
Curtiss-Wright Corporation (NYSE:CW) announced the successful verification of its Laser Peening process on the F-35 fighter jet's airframe components. This technology aims to extend the life expectancy of the F-35B, used by the U.S. Marine Corps and allied nations. Conducted at the Fleet Readiness Center East, the first F-35B has returned to service, making FRCE the first facility capable of on-site laser peening modifications. A second facility in Utah is scheduled to process its first F-35B in April 2022. This innovation supports Curtiss-Wright’s commitment to aerospace and defense technologies.
Curtiss-Wright Corporation (NYSE:CW) announced that Lynn M. Bamford, CEO, and K. Christopher Farkas, CFO, will participate in the Bank of America Global Industrials Conference on March 17, 2022, at 12:30 PM ET. The event will feature a fireside chat and a simultaneous webcast, with no formal presentation scheduled. A replay will be available on the company's website for 30 days post-event. For further details, visit www.curtisswright.com.
Curtiss-Wright Corporation (NYSE: CW) announced an agreement with Saddle Point Management to withdraw its proposals and director nominations for the upcoming 2022 Annual Meeting of Stockholders. CEO Lynn M. Bamford expressed appreciation for the constructive engagement and the focus on value creation ideas. Saddle Point's CEO acknowledged the company's strategy to increase defense exposure within its portfolio. The date of the Annual Meeting is yet to be announced, and stockholders are not required to take action at this time.
Curtiss-Wright Corporation (NYSE: CW) has filed a preliminary proxy statement with the SEC for its 2022 Annual Meeting, following nominations from Saddle Point Management, which owns approximately 0.298% of its shares. Saddle Point intends to nominate four individuals for the Board. Curtiss-Wright emphasizes its successful 'Pivot to Growth' strategy, with 2021 delivering a record operating margin of 17% and robust capital return, including $350 million in share repurchases. The Board's nominees possess diverse expertise, and the company urges Saddle Point to withdraw its nominations for a constructive dialogue.