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Curtiss-Wright reports 3Q18 financial results

Published by , Assistant Editor
World Fertilizer,

Full-year 2018 adjusted guidance reflects higher sales (up 7-9%), operating income (up 11-14%), operating margin of 15.3% to 15.5% (up 60-80 bps) and diluted EPS (up 23-26%), compared with adjusted 2017 financial results.

“Our third quarter results exceeded our expectations, as we generated solid 5% top-line growth, led by a better than expected performance in the power segment,” said David C. Adams, Chairman and CEO of Curtiss-Wright Corporation. "As a result, we delivered a strong Adjusted operating margin of 16.5% and adjusted diluted EPS of US$1.70".

"We remain on track for a solid operational performance in 2018 which includes higher sales in all end markets, double-digit growth in operating income, strong margin expansion, and solid free cash flow generation. Based on the solid year-to-date results and outlook for the remainder of 2018, we have increased our full-year adjusted diluted EPS guidance to a new range of US$6.10 to US$6.25. In addition, we have raised our full-year adjusted free cash flow guidance to a new range of US$310 to US$330 million. We look forward to continuing to deliver solid profitability and free cash flow in order to enhance shareholder value".

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