The 10-second takeaway
For the quarter ended June 30 (Q2), Curtiss-Wright beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue increased significantly. GAAP earnings per share increased significantly.
Margins grew across the board.
Curtiss-Wright notched revenue of $617.7 million. The six analysts polled by S&P Capital IQ expected revenue of $603.5 million on the same basis. GAAP reported sales were 17% higher than the prior-year quarter's $526.4 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
EPS came in at $0.70. The four earnings estimates compiled by S&P Capital IQ anticipated $0.67 per share. GAAP EPS of $0.70 for Q2 were 46% higher than the prior-year quarter's $0.48 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
For the quarter, gross margin was 32.5%, 100 basis points better than the prior-year quarter. Operating margin was 9.4%, 20 basis points better than the prior-year quarter. Net margin was 5.4%, 110 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $615.7 million. On the bottom line, the average EPS estimate is $0.75.
Next year's average estimate for revenue is $2.51 billion. The average EPS estimate is $2.79.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 161 members out of 163 rating the stock outperform, and two members rating it underperform. Among 54 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 52 give Curtiss-Wright a green thumbs-up, and two 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 $41.50.
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