CW
Curtiss-Wright Corporation543.95
-3.41-0.62%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Reaffirms guide; defense timing color
Q&A largely reaffirmed 2026 guidance amid analyst probes on defense timing, with management citing the fresh C-17 order as proof of snapback post-CR delays in ground defense electronics. They unpacked working capital drivers—like deferred income gains and 18% sales target—to back record FCF despite CapEx hikes. Nuclear details emerged: AP1000 order eyed from Westinghouse (US/Europe) but excluded from guide due to startup costs; SMR prototyping accelerates via Rolls-Royce/TerraPower partnerships, plus South Korea new-builds. Mix pressures from prototypes noted, yet aftermarket eyed for margin aid. C-17 win signals snapback. Tone stayed bullish; watch defense orders, nuclear wins.
Key Stats
Market Cap
20.50BP/E (TTM)
44.26Basic EPS (TTM)
12.29Dividend Yield
0%Recent Filings
10-K
FY2025 results
Curtiss-Wright crushed FY2025 with sales up 12% to $3.5B and operating income surging 20% to $634M, fueled by double-digit gains across all segments—Naval & Power rocketed 18% on submarine production and nuclear demand, Defense Electronics climbed 12%, Aerospace & Industrial edged 5%. Q4 wrapped strong: repurchased 250K shares at ~$560 while boosting dividends to $0.24/quarter, generated $643M operating cash flow, and grew backlog 18% to $4.1B. Debt sits comfy at $958M. Yet U.S. government contract cancellations could stall momentum.
8-K
Record FY25 results, upbeat 2026 guide
Curtiss-Wright posted record FY25 sales of $3.5B, up 12%, with adjusted operating margin at 18.6% and EPS of $13.23, up 21%, fueled by 13% A&D growth and robust nuclear demand. Backlog swelled 18% to $4.1B. Guides 2026 sales up 6-8% to $3.7B-$3.8B, margins to 18.9-19.2%, EPS 11-15% higher. Record cash flow powers repurchases.
8-K
Boosts repurchase authorization to $550M
Curtiss-Wright's board authorized an extra $416 million for share repurchases on November 20, 2025, lifting total capacity to $550 million with no expiration. They adopted two Rule 10b5-1 plans for $60 million fixed and $100 million opportunistic buys in 2026, mainly to counter equity compensation dilution. Board signals confidence in cash flow. Repurchases hinge on market volatility.
10-Q
Q3 FY2025 results
Curtiss-Wright posted Q3 sales of $869M, up 9% y/y, with operating income climbing 15% to $166M (19.1% margin) on stronger A&D demand; Naval & Power surged 12%, Defense Electronics 4%. Diluted EPS hit $3.31, up from $2.89, matching 37.7M shares. YTD sales rose 11% to $2.55B, operating income 21% to $452M ($9.19 EPS). Cash fell to $225M after $325M buybacks, yet $714M revolver availability cushions debt at $969M. Operating cash flow hit $291M YTD (FCF $239M derived). Backlog tops $3.9B. Asbestos claims linger.
8-K
Q3 beats, guidance up
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