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 (NYSE: CW) is a global integrated business that provides highly engineered products, solutions and services mainly to aerospace and defense markets, as well as critical technologies in commercial nuclear power, process and industrial markets. The CW news feed on Stock Titan focuses on how these activities translate into financial performance, contracts and strategic actions.
Investors following Curtiss-Wright news can expect regular updates on quarterly and full-year financial results, including segment performance across Aerospace & Industrial, Defense Electronics, and Naval & Power. Company announcements frequently discuss sales trends in total aerospace and defense markets versus total commercial markets, changes in operating income and margin, new orders, backlog and free cash flow.
News items also cover capital allocation decisions such as share repurchase authorizations, adoption of Rule 10b5-1 trading plans to execute repurchases, and quarterly dividend declarations. These disclosures provide context on how Curtiss-Wright balances returning capital to shareholders with funding acquisitions and operational investments.
From an operational standpoint, Curtiss-Wright issues releases on contract awards and program participation, such as supplying turret drive stabilization systems for combat vehicle prototypes or encrypted flight recorder technology for next-generation military aircraft. Updates may describe contributions to submarine programs, ground defense platforms, commercial aerospace equipment and commercial nuclear solutions.
By tracking CW news, readers can see how Curtiss-Wright’s engineered technologies, end-market exposure and capital allocation choices are reflected in reported results, guidance updates and program wins. This page aggregates those developments so users can review the company’s ongoing disclosures and announcements in one place.
Curtiss-Wright's Nuclear Division and Westinghouse Electric Company have signed a Memorandum of Understanding (MoU) to support AP1000® and AP300™ projects in Canada. This collaboration aims to leverage Curtiss-Wright's extensive portfolio of advanced nuclear power equipment, technology, and services to complement Westinghouse's resources in new build opportunities.
Kurt Mitchell, Senior Vice President and General Manager of Curtiss-Wright's Nuclear Division, emphasized the company's commitment to de-carbonizing the existing energy infrastructure through clean, reliable, and affordable energy solutions. The partnership underscores Curtiss-Wright's dedication to delivering innovative, safety-critical solutions to their customers while supporting the advancement of Westinghouse's reactor technologies in Canada and globally.
Curtiss-Wright (NYSE: CW) has announced a $100 million expansion of its 2024 share repurchase program, bringing the total expected annual share repurchases to $150 million in 2024. The company's Board of Directors has also declared a quarterly dividend of $0.21 per share on Curtiss-Wright Common Stock, payable on October 11, 2024. CEO Lynn M. Bamford emphasized the company's commitment to a disciplined capital allocation strategy, focusing on organic growth, strategic acquisitions, and returning capital to shareholders. The expanded program reflects the Board's confidence in Curtiss-Wright's ability to deliver profitable growth and strong free cash flow generation. The company is currently executing its existing $50 million share repurchase program and will begin the additional $100 million repurchase immediately via a 10b5-1 program.
Curtiss-Wright (NYSE: CW) has been awarded a $26 million multi-year contract by the Belgian Air Force to modernize its aircraft arresting systems. The contract includes providing new cable systems and turnkey services to three airbases in preparation for the F-35 delivery to Belgium. Curtiss-Wright will equip the main and parallel runways of Florennes, Kleine-Brogel, and Bevauchain Air Bases with standardized configurations.
The contract also covers various services, spares, repair, and overhaul to support Belgian Air Force's military flight operations. Curtiss-Wright's ESCO SmartArrest® system, a computerized version of the ESCO BAK-12 energy absorber, will be implemented to ensure automatic arrestment of multiple fighter jet platforms. The work will be performed within Curtiss-Wright's EMS division in the Naval & Power segment, with manufacturing taking place in Aston, Pa, and Merpins, France.
Curtiss-Wright (NYSE: CW) is celebrating its 95th anniversary of listing on the New York Stock Exchange by ringing The Closing Bell® on August 29, 2023. The company, which began trading on the NYSE on August 22, 1929, is one of the 50 longest-listed companies on the exchange.
Chair and CEO Lynn M. Bamford will ring the bell, accompanied by executive leadership team members and guests. Curtiss-Wright traces its origins to aviation pioneers Glenn H. Curtiss and the Wright Brothers, formed through a merger on July 5, 1929.
The company continues to embrace innovation through investments in advanced technologies and is executing its Pivot to Growth strategy for long-term success. The event will be webcast live at 3:56 p.m. EDT via www.nyse.com/bell.
Curtiss-Wright (NYSE: CW) has announced its participation in three upcoming investor conferences. Lynn M. Bamford, Chair and CEO, and K. Christopher Farkas, VP and CFO, will represent the company at these events:
1. Jefferies Industrials Conference on September 4, 2024 (fireside chat at 1:20 pm ET)
2. Gabelli 30th Annual Aerospace & Defense Symposium on September 5, 2024 (fireside chat at 10:00 am ET)
3. Morgan Stanley 12th Annual Laguna Conference on September 12, 2024 (fireside chat at 3:10 pm PT / 6:10 pm ET)
Webcasts of the fireside chats and the latest slide presentation will be available on Curtiss-Wright's website. Replays will be accessible for 90 days after each discussion.
Curtiss-Wright (NYSE: CW) has announced its participation in the Seaport Research Partners Annual Summer Investor Conference on August 20, 2024. The company's Vice President and Chief Financial Officer, K. Christopher Farkas, will attend the event virtually. While there will be no formal presentation or webcast, investors can access the latest slide presentation on the company's website in the Investor Relations section.
This virtual participation highlights Curtiss-Wright's commitment to engaging with investors and maintaining transparency. The conference provides an opportunity for the company to showcase its financial performance and strategic initiatives to a broader audience of potential investors and analysts.
Curtiss-Wright Corp. (NYSE: CW) reported strong second-quarter 2024 financial results with sales of $785 million, up 11% YoY. Operating income was $129 million, with a margin of 16.4%, while adjusted income reached $133 million. Adjusted EPS increased by 24% to $2.67. The company recorded new orders worth $995 million, reflecting an 18% increase and a book-to-bill ratio of 1.3x. The backlog rose 13% to $3.2 billion, and free cash flow was $100 million.
Full-year 2024 guidance has been raised: sales growth forecast of 6-8%, operating income growth of 6-9%, and EPS range of $10.40-$10.65. FCF is expected to be $425-$445 million. The effective tax rate was reduced by 100 bps to 22.5%.
Curtiss-Wright also announced a $200 million acquisition of Ultra Energy, which is anticipated to be accretive to adjusted EPS and generate FCF with over 100% conversion.
The company continues to implement its Pivot to Growth strategy, including restructuring actions expected to save $10 million annually by 2025.
Curtiss-Wright (NYSE: CW) and Saipem have achieved a significant milestone in the subsea applications industry with the completion of the qualification process for an all-electric seabed barrier fluid-less pump. This innovative technology, developed from proprietary solutions in the nuclear sector, enables subsea injection of treated sea water into reservoirs, extending the lifecycle of subsea fields.
The new pump design eliminates the need for barrier fluid, using sea water for cooling and lubrication, while the motor is protected by a canned casing. This approach reduces costs by replacing conventional hydraulic umbilicals with power/control cables. A 3 MW full-scale prototype has been successfully tested, confirming its performance, robustness, and reliability. The technology has achieved Technology Readiness Level 4 (TRL 4), as endorsed by Petrobras and TotalEnergies, paving the way for global commercialization.
Curtiss-Wright (NYSE: CW) will announce its second quarter 2024 financial results after the market closes on Wednesday, August 7, 2024. A webcast conference call discussing the results will be held the following day, August 8, 2024, at 10:00 am ET.
The call will be hosted by CEO Lynn M. Bamford and CFO K. Christopher Farkas. Interested parties can access the webcast and financial presentation via the Investor Relations section on Curtiss-Wright's website. The domestic dial-in number is (800) 225-9448, and international callers can use (203) 518-9708 with the conference ID code CWQ224. A replay will be available one hour after the live call on the company's website.
Curtiss-Wright (NYSE: CW) announced an agreement to acquire Ultra Nuclear and Weed Instrument Co., Inc. ('Ultra Energy') for $200 million in cash. Ultra Energy specializes in safety-critical systems for nuclear power generation and aerospace applications. The acquisition, expected to close in Q3 2024, aims to enhance Curtiss-Wright's global portfolio and is projected to be accretive to adjusted diluted EPS in its first full year. Ultra Energy, generating $65 million in sales in 2023, will operate within Curtiss-Wright's Naval & Power segment, potentially driving long-term profitable growth and strong free cash flow. Regulatory approval from the UK is pending.