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) announced that K. Christopher Farkas, CFO, will participate in the Jefferies 2022 Industrials Conference on August 9, 2022. No formal presentation or webcast will be available during this event. For further insights, the latest slide presentation can be accessed in the Investor Relations section of Curtiss-Wright’s website.
As a global leader in highly engineered products and solutions, Curtiss-Wright serves Aerospace & Defense markets and other critical sectors. More information is available at www.curtisswright.com.
Curtiss-Wright Corporation (NYSE: CW) reported Q2 2022 sales of $609 million, with a diluted EPS of $1.83, reflecting 18% year-over-year growth. The operating margin improved to 16.1%. New orders surged 13% to $776 million, yielding a book-to-bill ratio of 1.27, and the backlog rose to $2.4 billion. The company updated its 2022 guidance, projecting total sales growth of 4% to 6% and adjusted EPS between $8.10 and $8.30. Free cash flow remained strong at $22 million. The acquisition of Safran aerospace is expected to contribute positively to future earnings.
Curtiss-Wright Corporation (NYSE: CW) has secured contracts exceeding $220 million from Bechtel Plant Machinery and General Dynamics Electric Boat. These contracts will provide propulsion valves, pumps, and advanced instrumentation for the U.S. Navy's Virginia-class submarines, Columbia-class submarines, and Ford-class aircraft carrier programs. The engineering and manufacturing work will continue through 2026 at the company's facilities in New York and Pennsylvania. This contract reinforces Curtiss-Wright's long-standing relationship with the U.S. Navy, reflecting strong Congressional support for naval defense.
Curtiss-Wright Corporation (NYSE: CW) has priced a private placement debt offering of $300 million, consisting of $200 million in 4.49% notes due 2032 and $100 million in 4.64% notes due 2034. This move aims to strengthen its balance sheet and enhance flexibility for its capital allocation strategy, which includes reinvestment, strategic acquisitions, and shareholder returns. The offering is expected to close in Q4 2023, pending customary conditions.
Curtiss-Wright Corporation (NYSE: CW) has been awarded a contract by Airbus to supply custom electric actuation technology for the A350F freighter's Main Deck Cargo Door. This collaboration marks Curtiss-Wright's first electromechanical actuation contract with Airbus. The actuation system, featuring rotary and linear actuators, aims to enhance aircraft functionality and fuel efficiency. The A350F is designed to meet ICAO CO2 emissions standards effective in 2027. Manufacturing will occur at Curtiss-Wright's facilities in Shelby, N.C., and Stratford, Ontario.
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.