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.
Looking for alternatives to Curtiss-Wright? It takes more than great companies to build a fortune for the future. Learn the basic financial habits of millionaires next door and get focused stock ideas in our free report, "3 Stocks That Will Help You Retire Rich." Click here for instant access to this free report.
- Add Curtiss-Wright to My Watchlist.
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. The Motley Fool has no position in any of the stocks mentioned. 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.