NYSE$CW
Curtiss-Wright Corporation · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Curtiss-Wright reported strong second quarter results with revenue growth in A&D markets and increased full-year adjusted guidance.
Curtiss-Wright reported an 11% increase in sales to $785 million, driven by strong growth in Aerospace & Defense markets. The company's adjusted EPS rose by 24%, and new orders increased by 18%, resulting in a book-to-bill ratio of 1.3x. Based on these results, Curtiss-Wright raised its full-year adjusted guidance for sales, operating income, diluted EPS, and free cash flow.
- Sales increased by 11% to $785 million.
- Adjusted operating margin increased by 60 basis points to 17.0%.
- New orders increased by 18% to $995 million, with a book-to-bill ratio of 1.3x.
- Full-year adjusted guidance was raised for sales, operating income, diluted EPS, and free cash flow.
Headline financials
Revenue & EPS history
Curtiss-Wright · Revenue · Quarterly
$785M
Revenue by segment
Curtiss-Wright · $724M total across 3 segments · Q3 2023
- Naval & Power$288M+12.5%39.8%
- Aerospace & Industrial$220M+3.3%30.4%
- Defense Electronics$216M+34.2%29.8%
Forward guidance
The company is updating its full-year 2024 Adjusted financial guidance.
Tailwinds
- Total Sales increased to a range of $3,010 - $3,060 million, up 6% - 8%.
- Operating Income increased to a range of $525 - $539 million, up 6% - 9%.
- Operating Margin maintained at a range of 17.4% - 17.6%, up 0 - 20 bps.
- Diluted EPS increased to a range of $10.40 - $10.65, up 11% - 14%.
- Free Cash Flow increased to a range of $425 - $445 million, up 3% - 8%
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 Q2 2024
+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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