HighGravityDataCurtiss-Wright — Feb 12, 2025 release
Fiscal 2024 fourth-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0000026324-25-000008
Showing in the filing
Operating income - Defense Electronics % Chg
“8 - 10%”
Period
FY2025
Measure
GAAP-tied
Source
Guidance table
All guidance in this release · 46
EPS growth for FY2025
“double-digit”
Operating margin expansion for FY2025
“40 to 60 basis points”
Free Cash Flow Generation for FY2025
“strong free cash flow generation”
Three-Year Financial Targets for the long term
“line of sight to the three-year financial targets that we communicated at our 2024 Investor Day”
Quarterly dividend
“$0.21 a share”
Adjusted Total Sales for FY2025
“$3,335 - $3,385”
Total operating income for FY2025
“$598 - $613”
Operating Income % Chg vs 2024 Adjusted for FY2025
“10 - 12%”
Total operating income % Chg for FY2025
“10 - 12%”
Total operating margin for FY2025
“17.9% - 18.1%”
Operating margin - Aerospace & Industrial % … for FY2025
“40 - 60 bps”
Operating Margin % Chg vs 2024 Adjusted for FY2025
“40 - 60 bps”
Diluted earnings per share for FY2025
“$12.10 - $12.40”
Diluted EPS for FY2025
“$12.10 - $12.40”
Free Cash Flow for FY2025
“$485 - $505”
Free Cash Flow % Chg vs 2024 Adjusted for FY2025
“0 - 4%”
Capital expenditures increase for FY2025
“$14 to $24 million year-over-year”
General Industrial % Total Sales for FY2025
“12%”
Ground Defense sales growth for FY2025
“3 - 5%”
Sales - Defense Electronics % Chg for FY2025
“7 - 9%”
Sales - Naval & Power % Chg for FY2025
“10 - 11%”
Ground Defense % Total Sales for FY2025
“11%”
Operating income - Aerospace & Industrial % … for FY2025
“5 - 8%”
Operating income - Defense Electronics % Chg for FY2025
“8 - 10%”
Operating income - Naval & Power % Chg for FY2025
“13 - 16%”
Diluted earnings per share % Chg for FY2025
“11 - 14%”
Diluted EPS % Chg vs 2024 Adjusted for FY2025
“11 - 14%”
Diluted shares outstanding for FY2025
“37.9”
Effective tax rate for FY2025
“22.0%”
Operating margin - Defense Electronics % Chg for FY2025
“10 - 30 bps”
Operating margin - Naval & Power % Chg for FY2025
“50 - 70 bps”
Aerospace Defense sales growth for FY2025
“6 - 8%”
Aerospace Defense % Total Sales for FY2025
“20%”
Sales - Aerospace & Industrial % Chg for FY2025
“3 - 5%”
Naval Defense % Total Sales for FY2025
“25%”
Commercial Aerospace sales growth for FY2025
“10 - 12%”
Commercial Aerospace % Total Sales for FY2025
“13%”
Total Aerospace & Defense sales growth for FY2025
“5 - 7%”
Total Aerospace & Defense % Total Sales for FY2025
“69%”
Power & Process sales growth for FY2025
“16 - 18%”
Power & Process % Total Sales for FY2025
“19%”
General Industrial sales growth for FY2025
“Flat”
Total Commercial sales growth for FY2025
“9 - 11%”
Total Commercial % Total Sales for FY2025
“31%”
Total Curtiss-Wright Sales growth for FY2025
“7 - 8%”
Total Curtiss-Wright Sales % Total Sales for FY2025
“100%”
Exhibit 99.1 · the passage around this item
… earlier in the release
CURTISS-WRIGHT CORPORATION and SUBSIDIARIES NON-GAAP FINANCIAL DATA (UNAUDITED) ($'s in thousands) Three Months Ended Year Ended December 31, December 31, 2024 2023 2024 2023 Net cash provided by operating activities $ 301,299 $ 282,372 $ 544,275 $ 448,089 Capital expenditures (23,271) (12,629) (60,974) (44,666) Free cash flow $ 278,028 $ 269,743 $ 483,301 $ 403,423 Westinghouse legal settlement — — — 10,000 Adjusted free cash flow $ 278,028 $ 269,743 $ 483,301 $ 413,423 Adjusted free cash flow conversion 223 % 221 % 116 % 114 % Curtiss-Wright Corporation, Page 18 CURTISS-WRIGHT CORPORATION 2025 Guidance As of February 12, 2025 ($'s in millions, except per share data) 2024 Reported (GAAP) 2024 Adjustments (Non-GAAP) (1) 2024 Adjusted (Non-GAAP) (1) 2025 Reported Guidance (GAAP) 2025 Adjustments (Non-GAAP) (2) 2025 Adjusted Guidance (Non-GAAP) (2) Low High Low High 2025 Chg vs 2024 Adjusted Sales: Aerospace & Industrial $ 932 $ — $ 932 $ 960 $ 975 $ — $ 960 $ 975 3 - 5% Defense Electronics 911 — 911 975 990 $ — 975 990 7 - 9% Naval & Power 1,278 — 1,278 1,400 1,420 $ — 1,400 1,420 10 - 11% Total sales $ 3,121 $ — $ 3,121 $ 3,335 $ 3,385 $ — $ 3,335 $ 3,385 7 - 8% Operating income: Aerospace & Industrial $ 148 $ 10 $ 158 $ 164 $ 169 $ 3 $ 167 $ 172 5 - 8% Defense Electronics 225 2 227 244 250 — 244 250 8 - 10% Naval & Power 200 2 202 217 223 11 228 234 13 - 16% Total segments 572 15 587 624 641 14 638 655 Corporate and other (44) 3 (41) (40) (42) — (40) (42) Total operating income $ 529 $ 17 $ 546 $ 584 $ 599 $ 14 $ 598 $ 613 10 - 12% Interest expense $ (45) $ — $ (45) $ (42) $ (43) $ — $ (42) $ (43) Other income, net 38 — 38 33 34 $ — 33 34 Earnings before income taxes 522 17 539 575 590 $ 14 589 603 Provision for income taxes (117) (4) (121) (127) (130) (3) (130) (133) Net earnings $ 405 $ 13 $ 418 $ 448 $ 460 $ 11 $ 459 $ 470 Diluted earnings per share $ 10.55 $ 0.35 $ 10.90 $ 11.80 $ 12.10 $ 0.30 $ 12.10 $ 12.40 11 - 14% Diluted shares outstanding 38.4 38.4 37.9 37.9 37.9 37.9 Effective tax rate 22.4 % 22.4 % 22.0 % 22.0 % 22.0 % 22.0 % Operating margins: Aerospace & Industrial 15.9 % 17.0 % 17.1 % 17.3 % 17.4 % 17.6 % 40 - 60 bps Defense Electronics 24.7 % 24.9 % 25.0 % 25.2 % 25.0 % 25.2 % 10 - 30 bps Naval & Power 15.6 % 15.8 % 15.5 % 15.7 % 16.3 % 16.5 % 50 - 70 bps Total operating margin 16.9 % 17.5 % 17.5 % 17.7 % 17.9 % 18.1 % 40 - 60 b
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.