Curtiss-Wright Q2 Profit Surges

Curtiss-Wright Corp. (CW) Tuesday reported second-quarter net income of $61.4 million or $1.49 per share, up from $31.0 million or $0.74 per share last year.

The company reported adjusted earnings of $1.56 per share. Analysts polled by Thomson Reuters expected earnings of $1.54 per share for the quarter. Analysts' estimates typically exclude one-time items.

Total sales for the quarter rose to $621.5 million from $550.0 million last year. Adjusted sales were $609 million, up 14%. Analysts had a consensus revenue estimate of $594.02 million for the quarter.

Moving ahead, the company lifted its full year financial outlook. It now expects adjusted earnings of $7.15 to $7.35 per share, up from prior forecast of $7.10 to $7.30 per share. The company, however, maintained its adjusted sales growth forecast of 7% to 9%. Analysts currently estimate earnings of $7.30 per share on revenue growth of 4.50%.

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