|Over a week ago|
Curtis Wright trading resumes 09:4903/1303/13/20
Curtis Wright trading halted, volatility trading pause 09:3503/1303/13/20
Curtiss-Wright management to meet with UBS » 06:5803/1003/10/20
Meeting to be held in New…
Meeting to be held in New York on March 10 hosted by UBS.
|Over a month ago|
Curtiss-Wright COO Thomas Quinly to take a personal leave of absence » 11:5302/2702/27/20
Thomas P. Quinly, Vice…
Thomas P. Quinly, Vice President and Chief Operating Officer of Curtiss-Wright Corporation, will take a personal leave of absence. Quinly's leave is expected to last approximately 12 months. Lynn Bamford, President of the Defense and Power Segments, and Kevin Rayment, President of the Commercial/Industrial Segment, will fill Mr. Quinly's role and assume his responsibilities during his absence and will remain in their current positions while carrying out such additional role and responsibilities.
Curtiss-Wright to acquire Dyna-Flo control valves for $62M in cash » 07:3602/2702/27/20
Curtiss-Wright announced that it has entered into an agreement to acquire the stock of Dyna-Flo Control Valve Services for $62M in cash. Dyna-Flo is a leading designer and manufacturer of linear and rotary control valves, isolation valves, actuators, and level and pressure control systems for the chemical, petrochemical, and oil and gas markets. The acquired business will operate within Curtiss-Wright's Commercial/Industrial segment and is expected to be accretive to Curtiss-Wright's 2020 adjusted diluted earnings per share, excluding first year purchase accounting costs, and produce a free cash flow conversion rate in excess of 100%. Dyna-Flo's financials are not included in the company's initial 2020 guidance.
Curtiss-Wright sees FY20 EPS $7.50-$7.70, consensus $7.70 » 17:4302/2602/26/20
Sees FY20 revenue…
Sees FY20 revenue $2.59B-$2.63B, consensus $2.62B
Curtiss-Wright reports Q4 EPS $2.12, consensus $2.08 » 17:4202/2602/26/20
Reports Q4 revenue…
Reports Q4 revenue $655.8M, consensus $685.96M. "We delivered record Adjusted diluted EPS in the fourth quarter, driven by continued strong sales growth in our defense markets and the benefits of our ongoing margin improvement initiatives," said David Adams, Chairman and CEO of Curtiss-Wright Corporation. "In addition, we generated nearly $250M in adjusted free cash flow, along with robust free cash flow conversion of 277% in the quarter. Our FY19 results were highlighted by a strong operational performance, as we delivered higher sales and operating income in all three segments, improved profitability that produced a 16.5% Adjusted operating margin, and double-digit growth in adjusted diluted EPS. adjusted free cash flow of $371M was also strong, driven by solid growth in earnings as well as our continued efforts to reduce working capital."
Curtiss-Wright upgraded to Buy from Neutral at UBS » 05:1101/1501/15/20
UBS analyst Myles Walton…
UBS analyst Myles Walton upgraded Curtiss-Wright to Buy from Neutral with a price target of $165, up from $145. The analyst sees the company's cash flow performance "starting to re-expand" with 6%-7% year-over-year growth over the next few years after consolidating for the last few years. Further, Curtiss-Wright's current valuation on a price-to-earnings basis is attractive relative to its historical averages averages, Walton tells investors in a research note.
|Over a quarter ago|
Curtiss-Wright announces $50M share repurchase program » 16:1612/0212/02/19
Curtiss-Wright announced that its board of directors has authorized the company to repurchase $50M of shares via a 10b5-1 program beginning in January 2020, which is expected to more than offset potential dilution from compensation plans. The company has $200M available under the current share repurchase authorization, $50M of which will be allocated to the 10b5-1 program mentioned above and $100M of which will be available to repurchase additional shares opportunistically through a supplemental 10b5-1 program.
Curtiss-Wright to acquire 901D Holdings for $132M in cash » 16:1611/2611/26/19
Curtiss-Wright announced that it has entered into an agreement to acquire the stock of 901D Holdings, LLC for $132M in cash. 901D, a private company, is a leading designer and manufacturer of mission-critical integrated electronic systems, subsystems and ruggedized shipboard enclosure solutions supporting every major U.S. Navy shipbuilding program. The acquired business will operate within Curtiss-Wright's Defense segment. 901D is expected to be accretive to Curtiss-Wright's 2020 adjusted diluted earnings per share, excluding first year purchase accounting costs, and produce a free cash flow conversion rate in excess of 100%. 901D employs approximately 85 people and is expected to generate sales of approximately $48M in fiscal 2019, principally to the naval defense market. The acquisition is expected to close in December 2019, subject to the receipt of regulatory approval and other closing conditions.