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 delivered primary flight control actuators and control electronics to Eviation Aircraft for its all-electric Alice aircraft, poised for its first flight. The high-power density electromechanical actuators provide a modular, flexible control architecture, enhancing cost-efficiency and program reliability. Lynn M. Bamford, CEO of Curtiss-Wright, highlighted the company’s commitment to pioneering electric actuation in aviation. Eviation aims to revolutionize regional air travel with the sleek, zero-emission Alice, supported by Curtiss-Wright's advanced technology.
Curtiss-Wright Corporation (NYSE: CW) announced that CEO Lynn M. Bamford and CFO K. Christopher Farkas will participate in two virtual investor conferences. The first is the UBS Global Industrials and Transportation Virtual Conference on June 8, 2021, at 1:00 pm ET, followed by the Stifel 2021 Virtual Cross Sector Insight Conference on June 10, 2021, at 9:20 am ET. There will be no formal presentations, but a webcast link and slide presentations will be available on the company's website for up to 30 days after each event.
Curtiss-Wright Corporation (NYSE: CW) has secured a contract with Hyster-Yale Group to provide advanced in-cab operator controls for their new modular Internal Combustion and Electric lift trucks. This new product range, designed for capacities between 1 to 10 tons, emphasizes electronification in industrial vehicles. Under this contract, Curtiss-Wright will deliver customized components such as modular armrests and steering controls. Delivery is slated for the second quarter of 2021, reinforcing the collaborative relationship between the two companies.
Curtiss-Wright Corporation (NYSE: CW) announced a virtual Investor Day set for 8:30 a.m. ET, featuring presentations by senior executives. The focus will be on the company's new strategy aimed at long-term growth, emphasizing innovation, collaboration, and strategic investments. The company introduced new financial targets, including a 5-10% CAGR in total revenue and an adjusted EPS CAGR of at least 10% over the next three years. CEO Lynn M. Bamford highlighted the company’s operational excellence and disciplined financial management, aiming to unlock significant value for stakeholders.
Curtiss-Wright Corporation (NYSE: CW) has secured contracts exceeding $130 million from Bechtel Plant Machinery, Inc. and General Dynamics Electric Boat for propulsion valves, pumps, and advanced systems for U.S. Navy vessels, including Virginia-class submarines and Ford-class carriers. Engineering and manufacturing will occur at facilities in New York and Pennsylvania, continuing through 2025. The contracts reflect Curtiss-Wright's longstanding relationship with the U.S. Nuclear Navy, emphasizing their role in enhancing naval defense capabilities.
Curtiss-Wright Corporation (NYSE: CW) announced a 6% increase in its quarterly dividend to $0.18 per share, payable on July 2, 2021, for stockholders on record as of June 18, 2021. This increase highlights the Board's confidence in the company's robust financial position and commitment to returning value to shareholders. CEO Lynn M. Bamford emphasized the disciplined capital allocation strategy, focusing on organic growth, strategic acquisitions, and consistent dividend distributions, aiming for long-term shareholder value.
Curtiss-Wright Corporation (NYSE: CW) reported Q1 2021 financial results, noting sales of $597 million with a net income of $59.5 million and diluted EPS of $1.45. Adjusted EPS rose to $1.51, a 18% increase. Aerospace & Defense segments saw an 8% sales growth, and new orders reached $571 million. The company raised its 2021 sales growth guidance to 7-9% and diluted EPS guidance to $7.10-$7.30, primarily driven by strong performance in Defense Electronics.
Curtiss-Wright Corporation (NYSE: CW) has been awarded a contract by Scientific Research Corporation (SRC) to supply its Fortress flight recorder system for upgrading the T-6 Texan II trainer aircraft, utilized by the U.S. Air Force and Navy. This contract showcases Curtiss-Wright's strengths in leveraging commercial market technologies for military applications. The Fortress CVR25, combining cockpit voice and flight data recorders, will enhance flight safety and pilot training programs, adhering to ED-112A standards.
Curtiss-Wright Corporation (NYSE: CW) will host a Virtual Investor Day on May 26, 2021, from 8:30 a.m. EDT to 11:30 a.m. EDT. The event features key presentations from senior management, including Lynn M. Bamford, K. Christopher Farkas, and Kevin M. Rayment. Attendees will learn about the company's strategy for long-term growth and new financial targets, followed by a Q&A session. A live webcast will be available on the company's Investor Relations website, with registration encouraged. An archived replay will be accessible for one year.
Curtiss-Wright Corporation (NYSE: CW) is set to release its first quarter 2021 financial results after trading on May 5, 2021. A conference call will follow on May 6, 2021, at 10:00 am ET, featuring CEO Lynn M. Bamford and CFO K. Christopher Farkas. The financial results will be accessible on their Investor Relations website, along with a webcast for those unable to attend live. Domestic and international dial-in numbers are provided for the conference call, and replays will be available post-event.