Curtiss-Wright Raises 2019 Outlook - Quick Facts

(RTTNews) - Curtiss-Wright Corp. (CW) said it has delivered a strong start to the year, resulting in an increase to full-year guidance for sales, operating income, operating margin, diluted EPS and free cash flow. The company delivered 6% top-line growth driven by strong defense market sales, as well as improved profitability led by a strong performance in the Power segment. The company's results also reflected solid new order growth of 23%, primarily based on the timing of naval defense orders.

For 2019, the company raised adjusted EPS guidance by $0.20 to new range of $7.00 to $7.15. Sales guidance was increased to new range of 4-6% growth (previously up 3-5%). Analysts polled by Thomson Reuters expect the company to report profit per share of $6.86. Analysts' estimates typically exclude special items.

For the first-quarter, adjusted EPS was $1.30, up 33% from a year ago. On average, 8 analysts polled by Thomson Reuters expected the company to report profit per share of $1.16 for the quarter.

First-quarter net sales were $578 million, up 6% from prior year. Analysts expected revenue of $577.41 million for the quarter.