HighGravityDataCurtiss-Wright — May 1, 2024 release
Fiscal 2024 first-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0000026324-24-000009
Showing in the filing
Diluted earnings per share
“$10.10 - $10.40”
Period
FY2024
Measure
GAAP-tied
Source
Guidance table
All guidance in this release · 53
Sales for FY2024
“5% to 7% growth (previously 4% to 6%)”
Operating margin range for FY2024
“17.4% to 17.6%, up 0 to 20 basis points compared with the prior year”
Diluted EPS for FY2024
“$10.10 to $10.40, up 8% to 11% (previously $10.00 to $10.30, up 7% to 10%)”
Free cash flow for FY2024
“$415 to $435 million, which continues to reflect nearly 110% FCF conversion”
Free cash flow range for FY2024
“$415 to $435 million”
FCF conversion for FY2024
“nearly 110%”
Free cash flow conversion outlook for FY2024
“well in excess of 100%”
Quarterly dividend
“$0.20 a share”
Total Sales for FY2024
“$2,985 - $3,035”
Total operating income for FY2024
“$518 - $533”
Diluted earnings per share for FY2024
“$10.10 - $10.40”
Free Cash Flow % Change vs 2023 Adjusted for FY2024
“Up 0% - 5%”
Naval Defense sales growth for FY2024
“3 - 5%”
Defense Electronics Sales % Change vs 2023 A… for FY2024
“8 - 10%”
Sales - Defense Electronics % Chg for FY2024
“8 -10%”
Aerospace & Industrial Operating Income % Ch… for FY2024
“5 - 8%”
Operating income - Aerospace & Industrial % … for FY2024
“5 - 8%”
Defense Electronics Operating Income % Chang… for FY2024
“11 - 13%”
Operating income - Defense Electronics % Chg for FY2024
“11 - 13%”
Naval & Power Operating Income % Change vs 2… for FY2024
“(3) - (1)%”
Operating income - Naval & Power % Chg for FY2024
“(3) - (1)%”
Diluted earnings per share % Change vs 2023 … for FY2024
“8 to 11%”
Diluted earnings per share % Chg for FY2024
“8 to 11%”
Diluted shares outstanding for FY2024
“38.5”
Effective tax rate for FY2024
“23.5%”
Aerospace & Industrial Operating Margin % Ch… for FY2024
“20 to 40 bps”
Operating margin - Aerospace & Industrial % … for FY2024
“20 to 40 bps”
Defense Electronics Operating Margin % Chang… for FY2024
“50 to 70 bps”
Operating margin - Defense Electronics % Chg for FY2024
“50 to 70 bps”
Naval & Power Operating Margin % Change vs 2… for FY2024
“(110 to 130 bps)”
Operating margin - Naval & Power % Chg for FY2024
“(110 to 130 bps)”
Total operating margin % Change vs 2023 Adju… for FY2024
“0 to 20 bps”
Total operating margin % Chg for FY2024
“0 to 20 bps”
Total Aerospace & Defense sales growth for FY2024
“6 - 8%”
Aerospace Defense % Total Sales for FY2024
“20%”
Ground Defense sales growth for FY2024
“10 - 12%”
Ground Defense % Total Sales for FY2024
“11%”
Aerospace & Industrial Sales % Change vs 202… for FY2024
“3 - 5%”
Sales - Aerospace & Industrial % Chg for FY2024
“3 - 5%”
Naval Defense % Total Sales for FY2024
“25%”
Commercial Aerospace sales growth for FY2024
“10 - 12%”
Commercial Aerospace % Total Sales for FY2024
“12%”
Total Aerospace & Defense % Total Sales for FY2024
“68%”
Power & Process % Total Sales for FY2024
“18%”
General Industrial sales growth for FY2024
“1 - 3%”
General Industrial % Total Sales for FY2024
“15%”
Total Commercial sales growth for FY2024
“2 - 4%”
Total Commercial % Total Sales for FY2024
“32%”
Naval & Power Sales % Change vs 2023 Adjusted for FY2024
“4 - 6%”
Power & Process sales growth for FY2024
“4 - 6%”
Sales - Naval & Power % Chg for FY2024
“4 -6%”
Total Curtiss-Wright Sales growth for FY2024
“5 - 7%”
Total Curtiss-Wright Sales % Total Sales for FY2024
“100%”
Exhibit 99.1 · the passage around this item
… earlier in the release
Curtiss-Wright Corporation, Page 7 Full-Year 2024 Guidance The Company is increasing its full-year 2024 Adjusted financial guidance (1) as follows: ($ In millions, except EPS) 2024 Adjusted Non-GAAP Guidance (Prior) 2024 Adjusted Non-GAAP Guidance (Current) Change vs 2023 Adjusted (Current) Total Sales $2,960 - $3,010 $2,985 - $3,035 Up 5% - 7% Operating Income $514 - $528 $518 - $533 Up 5% - 8% Operating Margin 17.4% - 17.6% 17.4% - 17.6% Up 0 - 20 bps Diluted EPS $10.00 - $10.30 $10.10 - $10.40 Up 8% - 11% Free Cash Flow $415 - $435 $415 - $435 Up 0% - 5% (1) Reconciliations of Reported to Adjusted 2023 operating results and 2024 financial guidance are available in the Appendix. ********** A more detailed breakdown of the Company’s 2024 financial guidance by segment and by market, as well as all reconciliations of Reported GAAP amounts to Adjusted non-GAAP amounts, can be found in the accompanying schedules. Historical financial results are available in the Investor Relations section of Curtiss-Wright’s website. Conference Call & Webcast Information The Company will host a conference call to discuss its first quarter 2024 financial results and business outlook at 10:00 a.m. ET on Thursday, May 2, 2024. A live webcast of the call and the accompanying financial presentation, as well as a webcast replay of the call, will be made available on the internet by visiting the Investor Relations section of the Company’s website at www.curtisswright.com . (Tables to Follow) Curtiss-Wright Corporation, Page 8 CURTISS-WRIGHT CORPORATION and SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (UNAUDITED) ($'s in thousands, except per share data) Three Months Ended March 31, 202
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.