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Mar 31, 2024
Curtiss-Wright Q1 2024 Earnings Report
Curtiss-Wright reported strong Q1 2024 results with sales and operating income growth, operating margin expansion and increased diluted EPS.
Key Takeaways
Curtiss-Wright's Q1 2024 results exceeded expectations, with significant growth in sales and operating income. The company increased its full-year 2024 sales, operating income and diluted EPS guidance due to the strong start and continued strength in the order book.
Reported sales of $713 million, up 13%, operating income of $100 million, up 27%, operating margin of 14.0%, and diluted earnings per share (EPS) of $1.99.
Adjusted operating income of $100 million, up 23%.
Adjusted operating margin of 14.0%, up 110 basis points.
New orders of $901 million, up 26%, reflected a book-to-bill that exceeded 1.25x driven by strong demand within our Aerospace & Defense (A&D) markets.
Revenue by Segment
Forward Guidance
The Company is increasing its full-year 2024 Adjusted financial guidance.
Positive Outlook
- Total Sales increased to new range of 5% to 7% growth
- Operating Income increased to new range of 5% to 8% growth
- Operating margin range of 17.4% to 17.6%
- Diluted EPS increased to new range of $10.10 to $10.40, up 8% to 11%
- Free cash flow range of $415 to $435 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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