Curtiss-Wright Hosts 2024 Investor Day and Provides New Long-Term Financial Guidance
Introduces 3-Year Financial Targets including Minimum 5% Organic Revenue CAGR, Minimum 10% EPS CAGR and Strong Free Cash Flow Generation, as well as Commercial Nuclear Upside Optionality
Underscores Highly Efficient and Disciplined Capital Allocation Framework
“This is an exciting time for Curtiss-Wright as we leverage our strong track record of operational excellence and financial discipline, and continue to build momentum in our Pivot to Growthstrategy,” said
Introducing 3-Year Financial Targets (2024 - 2026):
- Total Organic Revenue CAGR above 5%;
- Operating Income Growth > Revenue Growth, implying continued operating margin expansion;
- Top Quartile Margin Performance (relative to CW’s proxy peer group);
- EPS CAGR above 10%;
- Free Cash Flow Conversion above 105%, based on more normalized capital expenditures; and
- Targets reflect base year of 2023, and do not include an AP1000 order in this timeframe.
Event Webcast Details:
A live webcast of the event, including a question and answer session with Curtiss-Wright’s senior leadership at the conclusion of the prepared remarks, will begin at
About
Certain statements made in this press release, including statements about future revenue, financial performance guidance, quarterly and annual revenue, net income, operating income growth, future business opportunities, cost saving initiatives, the successful integration of the Company’s acquisitions, and future cash flow from operations, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements present management's expectations, beliefs, plans and objectives regarding future financial performance, and assumptions or judgments concerning such performance. Any discussions contained in this press release, except to the extent that they contain historical facts, are forward-looking and accordingly involve estimates, assumptions, judgments, and uncertainties. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Such risks and uncertainties include but are not limited to: a reduction in anticipated orders; an economic downturn; changes in the competitive marketplace and/or customer requirements; a change in government spending; an inability to perform customer contracts at anticipated cost levels; and other factors that generally affect the business of aerospace, defense contracting, electronics, marine, and industrial companies. Such factors are detailed in the Company's Annual Report on Form 10-K for the fiscal year ended
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jim.ryan@curtisswright.com
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