NYSE$CW
Curtiss-Wright Corporation · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Curtiss-Wright reported strong Q1 2023 results with double-digit growth in new orders, sales, operating income, and diluted EPS.
Curtiss-Wright delivered strong first quarter 2023 results, highlighted by double-digit growth in new orders, sales, operating income and diluted EPS. The company reaffirmed its full-year 2023 guidance, anticipating steady, sequential improvement in sales, operating margin, diluted EPS and free cash flow as the year progresses.
- Reported and Adjusted sales of $631 million, up 13% year-over-year.
- Reported operating income of $79 million, operating margin of 12.5%, and diluted earnings per share (EPS) of $1.48.
- Adjusted operating income of $81 million, up 15%; Adjusted operating margin of 12.9%, up 20 basis points; Adjusted diluted EPS of $1.53, up 17%.
- New orders of $718 million, up 13%, reflected strong demand within Aerospace & Defense (A&D) and Commercial markets, and a book-to-bill that exceeded 1.1x.
Headline financials
Revenue & EPS history
Curtiss-Wright · Revenue · Quarterly
$631M
Revenue by segment
Curtiss-Wright · $630M total across 3 segments · Q1 2023
- Naval & Power$266M+18.2%42.2%
- Aerospace & Industrial$202M+5.8%32.1%
- Defense Electronics$162M+13.3%25.7%
Forward guidance
The Company is maintaining its full-year 2023 Adjusted financial guidance.
Tailwinds
- Total Sales: $2,655 - $2,710 million, Up 4% - 6%
- Operating Income: $463 - $477 million, Up 5% - 8%
- Operating Margin: 17.4% - 17.6%, Up 10 - 30 bps
- Diluted EPS: $8.65 - $8.90, Up 6% - 10%
- Free Cash Flow: $360 - $400 million, Up 22% - 36%
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
+0.6%
Avg return
Earnings day
+2.1%
Avg return
5 days after
+4.1%
Avg return
30 days after
54%
37 / 68 earnings
Positive
+8.9%
Q2 2020
Best reaction
-8.3%
Q2 2011
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.6% | +3.9% | +1.3% | |
| Q4 2025 | +5.8% | +8.5% | +3.4% | |
| Q3 2025 | -1.4% | -1.7% | -6.9% | |
| Q1 2025 | +4.6% | +9.1% | +25.0% | |
| Q4 2024 | -1.2% | -4.8% | -5.6% | |
| Q3 2024 | -2.6% | -1.1% | +5.5% | |
| Q2 2024 | +6.7% | +11.2% | +9.4% | |
| Q1 2024 | +3.8% | +8.0% | +11.6% | |
| Q4 2023 | +3.3% | +2.1% | +6.1% | |
| Q3 2023 | +2.8% | +4.4% | +10.2% | |
| Q2 2023 | +4.0% | +8.8% | +9.5% | |
| Q1 2023 | -4.8% | -4.8% | -1.9% | |
| Q4 2022 | +2.3% | +1.8% | -4.1% | |
| Q3 2022 | -0.3% | +3.7% | +7.5% | |
| Q2 2022 | +3.3% | +2.6% | +0.3% | |
| Q1 2022 | -4.5% | -4.6% | -0.7% | |
| Q4 2021 | -0.8% | +8.7% | +15.1% | |
| Q3 2021 | +2.1% | +4.8% | +1.0% | |
| Q2 2021 | +0.3% | +1.7% | +1.5% | |
| Q1 2021 | +1.2% | +0.7% | -2.0% | |
| Q4 2020 | -4.4% | -2.3% | +0.7% | |
| Q3 2020 | -3.9% | +2.5% | +37.5% | |
| Q2 2020 | +8.9% | +15.6% | +17.3% | |
| Q1 2020 | -6.3% | -2.4% | +15.0% | |
| Q4 2019 | -7.8% | -5.4% | -29.8% | |
| Q3 2019 | +4.0% | +7.3% | +5.6% | |
| Q2 2019 | -3.0% | -7.3% | -4.1% | |
| Q1 2019 | +0.3% | -3.5% | +4.2% | |
| Q4 2018 | +2.2% | +0.8% | -7.0% | |
| Q3 2018 | +1.9% | +2.9% | +1.0% | |
| Q2 2018 | +5.3% | +3.5% | +5.9% | |
| Q1 2018 | -1.2% | -0.1% | +1.8% | |
| Q4 2017 | +4.7% | +6.1% | +3.1% | |
| Q3 2017 | +0.7% | +2.7% | +5.9% | |
| Q2 2017 | +0.0% | -0.8% | -1.4% | |
| Q1 2017 | -4.8% | -6.2% | -3.5% | |
| Q4 2016 | -4.3% | -2.9% | -4.5% | |
| Q3 2016 | +4.5% | +5.7% | +20.8% | |
| Q2 2016 | +1.8% | +2.5% | +3.8% | |
| Q1 2016 | +4.1% | — | — | |
| Q4 2015 | +5.5% | — | — | |
| Q3 2015 | +2.2% | — | — | |
| Q2 2015 | +1.2% | — | — | |
| Q1 2015 | -3.3% | — | — | |
| Q4 2014 | -1.9% | — | — | |
| Q3 2014 | +0.6% | — | — | |
| Q2 2014 | +2.6% | — | — | |
| Q1 2014 | +7.6% | — | — | |
| Q4 2013 | +0.2% | — | — | |
| Q3 2013 | -0.7% | — | — | |
| Q2 2013 | +7.9% | — | — | |
| Q1 2013 | -0.6% | — | — | |
| Q4 2012 | -3.8% | — | — | |
| Q3 2012 | -1.8% | — | — | |
| Q2 2012 | +5.3% | — | — | |
| Q1 2012 | -0.8% | — | — | |
| Q4 2011 | +0.3% | — | — | |
| Q3 2011 | -0.8% | — | — | |
| Q2 2011 | -8.3% | — | — | |
| Q1 2010 | +1.1% | — | — | |
| Q1 2011 | +1.7% | — | — | |
| Q4 2008 | +2.4% | — | — | |
| Q4 2010 | +2.4% | — | — | |
| Q3 2009 | -0.3% | — | — | |
| Q3 2010 | -0.3% | — | — | |
| Q4 2009 | -0.7% | — | — | |
| Q2 2010 | -0.7% | — | — | |
| Q2 2009 | -0.7% | — | — |
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