Curtiss-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
Three-Year Financial Targets
“line of sight to the three-year financial targets that we communicated at our 2024 Investor Day”
Period
The long term
Measure
Company-defined measure
Source
Prose
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
We anticipate total sales growth of 7% to 8%, driven by strong organic growth in our A&D and Commercial Nuclear markets, and the contribution from our recently completed acquisition of Ultra Energy. We also expect to deliver operating margin expansion of 40 to 60 basis points while increasing our R&D investments, as well as double-digit EPS growth and strong free cash flow generation. As a result, we maintain line of sight to the three-year financial targets that we communicated at our 2024 Investor Day and remain well-positioned to drive long-term shareholder value." Curtiss-Wright Corporation, Page 3 Fourth Quarter 2024 Operating Results (In millions) Q4-2024 Q4-2023 Change Reported Sales $ 824 $ 786 5 % Operating income $ 155 $ 161 (4 %) Operating margin 18.8 % 20.4 % (160 bps) Adjusted (1) Sales $ 824 $ 786 5 % Operating income $ 163 $ 163 0 % Operating margin 19.8 % 20.8 % (100 bps) (1) Reconciliations of Reported to Adjusted operating results are available in the Appendix. • Sales of $824 million increased 5% compared with the prior year period; • Total A&D market sales inc reased 6% , w hile total Commercial market sales increased 3%; • In our A&D mark ets, w e experienced solid growth in the defense markets principally driven by increased submarin e revenues in naval defense, as well as higher OEM sales in the commercial aerospace market; • In our Commercial markets, we experienced solid growth in the power & process market , principally driven by higher sales of commercial nuclear products that were partially offset by lower industrial valve sales in the process market , in addition to lower sales in the general industrial market; and • Adjusted operating
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.