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CW NYSE· Curtiss-Wright Corporation
Earnings report Q4 2023

Curtiss-Wright Reports Strong Revenue Growth in Latest Quarter

Segments of revenue

In the latest quarter, Curtiss-Wright Corporation reported total sales of $887.2 million, representing a 6% increase compared to the same quarter last year. The company's revenue growth was primarily driven by strong global demand from general industrial customers. Sales from the Aerospace & Industrial, Defense Electronics, and Naval & Power segments increased by $51 million, $126 million, and $111 million, respectively.

Strengths

Curtiss-Wright's strong revenue growth in the latest quarter can be attributed to the company's ability to capitalize on the global drive towards electrification and electronification, as well as the push for zero or low-emissions vehicles. The company's technologies serving these markets have positioned it well for steady growth opportunities. Additionally, investments in green technology, advancements in robotics and automation, and new government regulations have further contributed to Curtiss-Wright's revenue growth.

Challenges

While Curtiss-Wright has achieved solid revenue growth, it is important to note that the company faced challenges in the form of divestiture-related costs and foreign currency fluctuations. Divestiture-related costs had a negligible impact on revenue growth, while foreign currency fluctuations resulted in a 1% decrease in sales.

Noteworthy

It is noteworthy that Curtiss-Wright's revenue growth in the latest quarter was in line with its operating income growth. The company reported operating income of $145.3 million, representing a 6% increase compared to the same quarter last year. The operating margin remained stable at 16.4%.

Summary

Curtiss-Wright Corporation delivered a strong performance in the latest quarter, with a 6% increase in revenue driven by robust demand from general industrial customers. The company's ability to capitalize on the global trends towards electrification, green technology, and automation has positioned it for steady growth opportunities. Despite facing challenges such as divestiture-related costs and foreign currency fluctuations, Curtiss-Wright's revenue growth remained solid. Overall, the company's strong financial performance reflects its ability to navigate the market dynamics and capitalize on growth opportunities.

Source documents

Form 10-K  filed on Feb 20, 2024
126 pages scanned

Reference data

Company financials Q4 revenue 786M
Analyst estimates Q4 EPS beat by 32.55%
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