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Dec 31, 2023
Curtiss-Wright Q4 2023 Earnings Report
Curtiss-Wright reported a strong Q4 2023 with sales up 4%, operating income up 2%, and diluted EPS up 8%.
Key Takeaways
Curtiss-Wright Corporation reported a 4% increase in sales to $786 million for Q4 2023. The adjusted diluted EPS reached a record $3.16, and the company generated strong free cash flow. The company issued FY2024 guidance reflecting strong growth in sales, EPS and free cash flow.
Reported sales increased by 4% to $786 million.
Adjusted diluted EPS increased by 8% to $3.16.
Free cash flow was $270 million, with a 221% adjusted FCF conversion.
New orders reached $685 million.
Revenue by Segment
Forward Guidance
The company expects to deliver total organic sales growth of 4% to 6% in 2024, including growth in all of its A&D and Commercial end markets. They also anticipate continued operating margin expansion while increasing R&D investments, diluted EPS growth of 7% to 10%, and strong free cash flow generation ranging from $415 to $435 million.
Positive Outlook
- Total Sales: $2,960 - $3,010 million, up 4% - 6%
- Operating Income: $514 - $528 million, up 4% - 7%
- Operating Margin: 17.4% - 17.6%, up 0 - 20 bps
- Diluted EPS: $10.00 - $10.30, up 7% - 10%
- Free Cash Flow: $415 - $435 million, up 0% - 5%
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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