Fourth Quarter 2023 Highlights:
Reported sales of
Adjusted operating income of
Adjusted operating margin of 20.8%;
Adjusted diluted EPS of
Free cash flow (FCF) of
Full-Year 2023 Highlights:
Reported sales of
Adjusted operating income of
Adjusted operating margin of 17.4%;
Adjusted diluted EPS of
Adjusted FCF of
Total share repurchases of
New orders of
Backlog of
'Curtiss-Wright ended the year with a strong fourth quarter financial performance that reflected better-than-expected sales growth, record quarterly Adjusted diluted EPS of
'Our full-year 2023 results were highlighted by another year of strong operational performance, as we delivered record high sales and operating income driven by 10% organic growth, and improved profitability while continuing to ramp up our investments in research and development across the portfolio. We achieved record Adjusted free cash flow of
'Looking ahead, our strong backlog entering the year supports our expectations to deliver total organic sales growth of 4% to 6% in 2024, including growth in all of our A&D and Commercial end markets. We expect to deliver continued operating margin expansion while increasing R&D investments, diluted EPS growth of 7% to 10%, and strong free cash flow generation ranging from
Fourth Quarter 2023 Operating Results: See details at:
https://curtisswright.com/news/press-releases/news-release-details/2024/Curtiss-Wright-Reports-Fourth-Quarter-and-Full-Year-2023-Financial-Results-Issues-Full-Year-2024-Guidance-Reflecting-Strong-Growth-in-Sales-EPS-and-Free-Cash-Flow/default.aspx
About
Certain statements made in this press release, including statements about future revenue, financial performance guidance, quarterly and annual revenue, net income, operating income growth, future business opportunities, cost saving initiatives, the successful integration of the Company's acquisitions, and future cash flow from operations, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements present management's expectations, beliefs, plans and objectives regarding future financial performance, and assumptions or judgments concerning such performance. Any discussions contained in this press release, except to the extent that they contain historical facts, are forward-looking and accordingly involve estimates, assumptions, judgments and uncertainties. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Such risks and uncertainties include, but are not limited to: a reduction in anticipated orders; an economic downturn; changes in the competitive marketplace and/or customer requirements; a change in government spending; an inability to perform customer contracts at anticipated cost levels; and other factors that generally affect the business of aerospace, defense contracting, electronics, marine, and industrial companies. Such factors are detailed in the Company's Annual Report on Form 10-K for the fiscal year ended
This press release and additional information are available at www.curtisswright.com.
(704) 869-4621
Jim.Ryan@curtisswright.com
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