Curtiss-Wright sees FY16 EPS $4.00-$4.15, consensus $4.10
Sees FY16 sales $2.12B-$2.17B, consensus $2.16B. "Looking to the balance of 2016, we continue to anticipate sequential margin improvement as we execute against our operational initiatives and advance to top-quartile financial performance versus our peer group," said David C. Adams, Chairman and CEO of Curtiss-Wright Corporation. "We are maintaining our full-year operating margin guidance for a 90 to 110 basis point improvement compared with pro forma 2015 results. In addition, we are maintaining our full-year free cash flow guidance and expect to deliver strong, double-digit growth in 2016. Company reaffirms full-year 2016 guidance for Sales, Operating Income, Operating Margin, Diluted EPS and Free Cash Flow; Operating margin to range from 14.2% to 14.4% in 2016, which is expected to be in the top quartile compared to the peer group; Expecting modest, sequential improvement in third quarter diluted EPS ranging from $0.95 to $1.00, followed by a strong fourth quarter; Maintaining outlook for strong free cash flow generation of $300 million to $320 million in 2016.