Aerospace and defense company Curtiss-Wright (NYSE: CW) will be reporting results tomorrow after market hours. Here’s what you need to know.
Curtiss-Wright beat analysts’ revenue expectations by 5.2% last quarter, reporting revenues of $798.9 million, up 10.3% year on year. It was an exceptional quarter for the company, with a solid beat of analysts’ adjusted operating income estimates.
Is Curtiss-Wright a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Curtiss-Wright’s revenue to be flat year on year at $778.2 million, slowing from the 3.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $3.09 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Curtiss-Wright has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 6.2% on average.
Looking at Curtiss-Wright’s peers in the aerospace segment, some have already reported their Q4 results, giving us a hint as to what we can expect. AAR delivered year-on-year revenue growth of 25.8%, beating analysts’ expectations by 4.8%, and Woodward reported a revenue decline of 1.8%, in line with consensus estimates. AAR traded up 8.6% following the results while Woodward was down 1.8%.
Read our full analysis of AAR’s results here and Woodward’s results here.
There has been positive sentiment among investors in the aerospace segment, with share prices up 2.3% on average over the last month. Curtiss-Wright’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $400.07 (compared to the current share price of $352.11).
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