The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Curtiss-Wright missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue shrank and GAAP earnings per share dropped significantly.
Margins contracted across the board.
Curtiss-Wright tallied revenue of $479.2 million. The six analysts polled by S&P Capital IQ expected to see revenue of $497.2 million on the same basis. GAAP reported sales were 7.1% lower than the prior-year quarter's $516.0 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 $0.24. The six earnings estimates compiled by S&P Capital IQ predicted $0.22 per share. GAAP EPS of $0.24 for Q3 were 67% lower than the prior-year quarter's $0.73 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 29.5%, 360 basis points worse than the prior-year quarter. Operating margin was 4.9%, 480 basis points worse than the prior-year quarter. Net margin was 2.4%, 430 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $578.6 million. On the bottom line, the average EPS estimate is $0.95.
Next year's average estimate for revenue is $2.11 billion. The average EPS estimate is $2.11.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 167 members out of 168 rating the stock outperform, and one members rating it underperform. Among 56 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 55 give Curtiss-Wright a green thumbs-up, and one give 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 $38.50.
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