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 contracts worth approximately $100 million to supply pumps for the U.S. Navy's Virginia-class and Columbia-class submarines, as well as the Ford-class aircraft carrier programs. These contracts were awarded by Bechtel Plant Machinery, Inc. and build on previous contracts exceeding $130 million. The work will be done at the company's facility in Cheswick, Pennsylvania, reinforcing its long-standing partnership with the U.S. Nuclear Navy and commitment to advanced technologies.
Curtiss-Wright Corporation (NYSE: CW) announced a $400 million increase in share repurchase authorization, raising the total to $550 million. The company plans to initiate $200 million in buybacks immediately, expected to conclude by year-end. For 2022 and 2023, a minimum of $50 million will be repurchased annually to counteract dilution from compensation plans. Additionally, a dividend of $0.18 per share was declared, payable on October 14, 2021.
Curtiss-Wright Corporation (NYSE: CW) announced participation in the Morgan Stanley Virtual 9th Annual Laguna Conference on September 13, 2021. CEO Lynn M. Bamford and CFO K. Christopher Farkas will engage in a fireside chat at 3:45 pm ET, available via webcast. No formal presentation will be given. A replay of the discussion will be accessible on their website for 30 days post-event. Curtiss-Wright specializes in delivering engineered products and services for the Aerospace and Defense sectors, employing around 8,200 people globally.
Curtiss-Wright Corporation (NYSE: CW) announced participation in the Gabelli 27th Annual Aerospace and Defense Symposium on September 9, 2021. CEO Lynn M. Bamford and CFO K. Christopher Farkas will engage in a fireside chat at 1:45 pm ET, which will be available via webcast. Notably, there will be no formal presentation. Investors can access the webcast and related materials on the company's website, with a replay available for 30 days after the event.
Curtiss-Wright is a global leader in engineered products and services for Aerospace, Defense, and Commercial markets, employing around 8,200 personnel.
Curtiss-Wright Corporation (NYSE: CW) reported strong Q2 2021 results with sales of $621 million, up 13% year-over-year. Adjusted sales reached $609 million, reflecting a 14% increase, while diluted EPS rose by 22% to $1.56. The company benefited from solid demand in its Aerospace & Industrial and Naval & Power segments, leading to an increase in new orders of $679 million, up 11%. Full-year guidance was raised, indicating projected sales growth of 7%-9% and adjusted EPS between $7.15 and $7.35, showcasing a focus on operational excellence and strategic investments.
Curtiss-Wright Corporation (NYSE:CW) has been chosen to develop the Reactivity Control and Shutdown System for X-energy's Xe-100 Generation IV High-Temperature Gas-cooled Reactor. This selection highlights Curtiss-Wright's expertise in nuclear technology. The Xe-100 is part of the U.S. Department of Energy's $3.2 billion Advanced Reactor Demonstration Program, aiming for operational reactors in seven years. The Xe-100 is versatile for electricity and industrial applications, enhancing safety and affordability in advanced reactors.
Curtiss-Wright Corporation (NYSE: CW) will release its second quarter 2021 financial results on August 3, 2021, after market close. The earnings conference call is scheduled for August 4, 2021, at 10:00 am ET, hosted by President and CEO Lynn M. Bamford, along with CFO K. Christopher Farkas. This announcement changes the previous schedule, which had the earnings release on August 4 and a call on August 5. The financial press release and related materials will be available on the company's Investor Relations website.
Curtiss-Wright Corporation (NYSE: CW) will release its second quarter 2021 financial results on August 4, 2021, following market close. A webcast conference call is scheduled for August 5, 2021, at 10:00 am ET, where executives Lynn M. Bamford and K. Christopher Farkas will discuss the financial performance. Access to the press release, webcast, and presentation will be available on the company’s Investor Relations page. Domestic callers can dial (844) 220-4970, while international callers can reach (262) 558-6349.
Curtiss-Wright Corporation (NYSE: CW) has been selected for Project SAFARI, funded by the U.S. Department of Energy, aimed at developing Digital Twin technology for advanced nuclear reactors. This initiative is part of the GEMINA program by ARPA-E, focusing on enhancing operational efficiency and safety in nuclear plants. Collaborating with teams from the University of Michigan, Idaho National Laboratory, and others, Curtiss-Wright aims to leverage its extensive nuclear monitoring experience to ensure improved reliability and cost-effectiveness in future nuclear power operations.
Curtiss-Wright Corporation (NYSE: CW) has secured a $24 million contract from Lockheed Martin to upgrade the U.S. Navy’s MH-60R/S Seahawk helicopters, with a potential lifetime value of $70 million. The contract involves supplying Modular Open System Approach (MOSA) computers and video processing modules. This upgrade aims to enhance display graphics, compatibility, and integration with advanced computing features. Shipments started in December 2020, reinforcing Curtiss-Wright's leadership in COTS technologies.