Curtiss-Wright (CW) Tops Q3 EPS by 14c, Updates FY Guidance

Curtiss-Wright (NYSE: CW) reported Q3 EPS of $1.70, $0.14 better than the analyst estimate of $1.56. Revenue for the quarter came in at $595 million versus the consensus estimate of $628.27 million.

GUIDANCE:

Curtiss-Wright sees FY2018 EPS of $6.10-$6.25, versus the consensus of $6.09.

• Full-year 2018 Adjusted guidance reflects higher sales (now up 7-9%), operating income (up 11-14%), operating margin of 15.3% to 15.5% (now up 60-80 bps) and diluted EPS (now up 23-26%), compared with Adjusted 2017 financial results;
• Increased full-year 2018 Adjusted diluted EPS guidance by $0.10 to new range of $6.10 to $6.25, compared with prior range of $6.00 to $6.15, reflecting improved profitability in the Defense and Power segments, as well as expectations for a lower tax rate and share count; and
• Increased Reported free cash flow by $10 million to new range of $260 to $280 million and Adjusted free cash flow to a new range of $310 to $330 million, which excludes a $50 million voluntary pension contribution made in the first quarter of 2018.

For earnings history and earnings-related data on Curtiss-Wright (CW) click here.

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