Plus   Neg

Curtiss-Wright Raises 2019 Outlook - Quick Facts

Curtiss-Wright Corp. (CW) said it has delivered a strong start to the year, resulting in an increase to full-year guidance for sales, operating income, operating margin, diluted EPS and free cash flow. The company delivered 6% top-line growth driven by strong defense market sales, as well as improved profitability led by a strong performance in the Power segment. The company's results also reflected solid new order growth of 23%, primarily based on the timing of naval defense orders.

For 2019, the company raised adjusted EPS guidance by $0.20 to new range of $7.00 to $7.15. Sales guidance was increased to new range of 4-6% growth (previously up 3-5%). Analysts polled by Thomson Reuters expect the company to report profit per share of $6.86. Analysts' estimates typically exclude special items.

For the first-quarter, adjusted EPS was $1.30, up 33% from a year ago. On average, 8 analysts polled by Thomson Reuters expected the company to report profit per share of $1.16 for the quarter.

First-quarter net sales were $578 million, up 6% from prior year. Analysts expected revenue of $577.41 million for the quarter.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration or FDA announced on its website that pharma major Pfizer, Inc. issued recall of two lots of tablets meant to treat acute migraine in adults for concerns over bacteria infection. The pharma company is recalling two lots of Relpax (eletriptan hydrobromide) 40 mg tablets for potential presence of Genus Pseudomonas and Burkholderia bacteria. Cosmetics company Revlon Inc. (REV) is reportedly considering a potential sale of parts or all of its business. According to Bloomberg, Revlon has retained financial advisers from Goldman Sachs Group Inc. to explore strategic alternatives. No deal has been reached yet, but Revlon is exploring all... China's Lenovo Group Ltd. warned it may have to raise prices of its products if the U.S. moves ahead with the decision to impose additional tariffs on Chinese goods, according to a report by Reuters. The warning by Lenovo, the world's largest PC maker, comes amid the escalating trade war between the U.S. and China that has raised concerns about the global economic outlook.
Follow RTT