CW

Curtiss-Wright Sets Bold 3-Year Growth Targets

Curtiss-Wright Corporation (NYSE: CW) recently held its 2024 investor day, announcing new long-term financial guidance and introducing 3-year financial targets. The company's pivot to growth strategy aims for continued profitable growth, underpinned by a strong track record of operational excellence and financial discipline.

The 3-year financial targets for 2024-2026 include a minimum 5% organic revenue compound annual growth rate (CAGR) and a minimum 10% earnings per share (EPS) CAGR. Operating income growth is expected to outpace revenue growth, implying continued operating margin expansion. Furthermore, the company is targeting top quartile margin performance relative to its proxy peer group.

In addition, Curtiss-Wright aims for free cash flow conversion above 105%, based on more normalized capital expenditures. These targets are set against a base year of 2023 and do not include an ap1000 order in this timeframe.

The company's focus on efficient and disciplined capital allocation is evidenced by its emphasis on strong free cash flow generation while making strategic investments in research and development to accelerate long-term organic growth.

Curtiss-Wright, a global integrated business, provides highly engineered products, solutions, and services to aerospace & defense markets, as well as critical technologies in demanding commercial power, process, and industrial markets. With a workforce of approximately 8,600 highly skilled employees, the company is committed to delivering innovative solutions through trusted customer relationships.

The live webcast of the investor day event included a question and answer session with Curtiss-Wright's senior leadership and was followed by a panel of commercial nuclear energy experts.

As the company continues to build momentum in its pivot to growth strategy, it aims to deliver incremental operating margin expansion and significant long-term value for all stakeholders. As a result of these announcements, the company's shares have moved 1.8% on the market, and are now trading at a price of $284.33. For more information, read the company's full 8-K submission here.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.

IN FOCUS