Aerospace and defense company Curtiss-Wright (NYSE:CW) will be announcing earnings results tomorrow afternoon. Here’s what you need to know.
Curtiss-Wright beat analysts’ revenue expectations by 5.9% last quarter, reporting revenues of $824.3 million, up 4.9% year on year. It was a very strong quarter for the company, with full-year EPS guidance exceeding analysts’ expectations.
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 grow 7.6% year on year to $767 million, slowing from the 13% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.39 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 6.8% on average.
Looking at Curtiss-Wright’s peers in the aerospace segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Boeing delivered year-on-year revenue growth of 17.7%, missing analysts’ expectations by 0.6%, and Textron reported revenues up 5.5%, topping estimates by 2.3%. Boeing traded up 8.5% following the results while Textron was also up 3.5%.
Read our full analysis of Boeing’s results here and Textron’s results here.
There has been positive sentiment among investors in the aerospace segment, with share prices up 12.3% on average over the last month. Curtiss-Wright is up 25% during the same time and is heading into earnings with an average analyst price target of $378.39 (compared to the current share price of $359.93).
When a company has more cash than it knows what to do with, buying back its own shares can make a lot of sense–as long as the price is right. Luckily, we’ve found one, a low-priced stock that is gushing free cash flow AND buying back shares. Click here to claim your Special Free Report on a fallen angel growth story that is already recovering from a setback.