South America
Curtiss-Wright Q4 Earnings and Q4 Sales Performance
• Curtiss-Wright Corporation (CW) reported adjusted earnings per share (EPS) of $3.27, beating the Zacks Consensus Estimate of $3.08 by 6.2%.
• The company’s bottom line also improved 3.5% from the year-ago quarter’s level of $3.16 per share.
• GAAP earnings of $3.09 per share, down 0.6% from the prior-year period’s $3.11.
• CW reported 2024 adjusted earnings of $10.90 per share, higher than the year-ago figure of $9.38.
• The company’s net sales of $824.3 million increased 4.9% year over year, surpassing the Zacks Consensus Estimate of $785 million by 4.9%.
• Revenues of $3.12 billion in 2024, higher than $2.85 billion in 2023.
• Adjusted operating income of $163 million, in line with the prior-year quarter.
• The adjusted operating margin contracted 100 basis points from 20.8% to 19.8% due to higher investments in research and development in all three segments.
• The total backlog at the end of the fourth quarter was $3.4 billion, which increased 20% from the 2023-end backlog figure.
• New orders of $939 million rose 37% year over year, driven by the strong demand for the company’s aerospace and defense products.
• The company’s cash and cash equivalents as of Dec. 31, 2024, were $385 million compared to $406.9 million as of Dec. 31, 2023.
• The company issued its financial guidance for 2025, expecting adjusted earnings in the band of $12.10-$12.40 per share.
• The company’s Zacks Rank currently carries a Zacks Rank #3 (Hold).
