The 10-second takeaway
For the quarter ended March 31 (Q1), Curtiss-Wright met expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue improved and GAAP earnings per share increased significantly.
Gross margins shrank, operating margins contracted, net margins improved.
Curtiss-Wright tallied revenue of $501.7 million. The six analysts polled by S&P Capital IQ predicted sales of $497.2 million on the same basis. GAAP reported sales were 8.6% higher than the prior-year quarter's $461.9 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.42. The eight earnings estimates compiled by S&P Capital IQ forecast $0.59 per share. GAAP EPS of $0.87 for Q1 were 67% higher than the prior-year quarter's $0.52 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 31.7%, 60 basis points worse than the prior-year quarter. Operating margin was 7.1%, 190 basis points worse than the prior-year quarter. Net margin was 8.2%, 290 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $549.0 million. On the bottom line, the average EPS estimate is $0.69.
Next year's average estimate for revenue is $2.24 billion. The average EPS estimate is $3.00.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 165 members out of 166 rating the stock outperform, and one members rating it underperform. Among 58 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 57 give Curtiss-Wright a green thumbs-up, and one gives it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Curtiss-Wright is outperform, with an average price target of $42.43.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.