CURTISS-WRIGHT CORPORATION Third Quarter 2023 Highlights:
Reported sales of
Reported operating income of
Adjusted operating income of
Adjusted operating margin of 18.5%, up 30 basis points;
Adjusted diluted EPS of
New orders of
Backlog of
Free cash flow (FCF) of
Raised Full-Year 2023 Adjusted Financial Guidance:
Sales increased to new range of 8% to 10% growth (previously 7% to 9%), reflecting growth in all A&D and Commercial end markets;
Maintained operating income range of 8% to 11% growth, and operating margin range of 17.4% to 17.6%, up 10 to 30 basis points compared with the prior year;
Diluted EPS increased to new range of
Free cash flow increased to new range of
'Curtiss-Wright delivered strong third quarter results, as Adjusted diluted EPS of
'Based on the strong year-to-date performance, we have increased our full-year sales, operating income, diluted EPS and free cash flow guidance as we continue to successfully execute on our Pivot to Growth strategy and maintain strong alignment with the near- and long-term favorable secular growth trends driving our business.'
Third Quarter 2023 Operating Results: See full release at:
https://curtisswright.com/news/press-releases/news-release-details/2023/Curtiss-Wright-Reports-Third-Quarter-2023-Financial-Results-and-Raises-Full-Year-2023-Guidance/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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