Curtiss-Wright Q2 adjusted EPS $2.15 (+18%); raises FY2023 EPS guidance to $8.90-$9.15

CURTISS WRIGHT CORP

2023-Q2 EPS reported $3.58 revenue$1,335,256,000

Q2 adjusted diluted EPS $2.15 (+18% YoY); sales $704M (+16%).
Defense Electronics segment sales +32%, operating income +77% as supply chain eases.
New orders $842M, book-to-bill 1.2; backlog $2.8B (+9% YTD).
Free cash flow $99M (119% adjusted conversion); dividend raised 5% to $0.20/share.
FY2023 guidance raised: sales growth 7-9%, EPS $8.90-$9.15, FCF $370-$400M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

CURTISS WRIGHT CORP reported the second quarter ended June 30, 2023 results: revenue $704 million, EPS $2.10.

Period: the second quarter ended June 30, 2023
Revenue: $704 million
EPS: $2.10
Result: reported results

Exact text from the filing

2, 2023--Curtiss-Wright Corporation (NYSE: CW) reports financial results for the second quarter ended June 30, 2023. Second Quarter 2023 Highlights: Reported sales of $704 million, up 16%; Reported operating income of $113 million, operating margin of 16.0%, and diluted earnings per share (EPS) of $2.10; Adjusted operating income of $115 million, up 18%;

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

CURTISS WRIGHT CORP reported Full-Year 2023 results: EPS $8.90 to $9.15. Guidance raised.

Period: Full-Year 2023
EPS: $8.90 to $9.15
Guidance: raised
Result: guidance update

Exact text from the filing

Raised Full-Year 2023 Adjusted Financial Guidance: Sales increased to new range of 7% to 9% growth (previously 4% to 6%), now reflecting growth in all A&D and Commercial end markets; Operating income increased to new range of 8% to 11% growth (previously 5% to 8%); Maintained 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 $8.90 to $9.15, up 10% to 13% (previously $8.65 to $8.90); and Free cash flow increased to new range of $370 to $400 million (previously $360 to $400 million) and continues to reflect greater than 110% FCF conversion.

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Source: SEC EDGAR

accession 0001157523-23-001243

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