Aerospace and defense company Curtiss-Wright (NYSE: CW) will be reporting earnings this Wednesday after market close. Here’s what investors should know.
Curtiss-Wright beat analysts’ revenue expectations by 3% last quarter, reporting revenues of $876.6 million, up 11.7% year on year. It was a strong quarter for the company, with a solid beat of analysts’ revenue estimates and an impressive beat of analysts’ adjusted operating income estimates.
Is Curtiss-Wright a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Curtiss-Wright’s revenue to grow 8.6% year on year to $867.4 million, slowing from the 10.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $3.29 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Curtiss-Wright has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 5.8% on average.
Looking at Curtiss-Wright’s peers in the aerospace segment, some have already reported their Q3 results, giving us a hint as to what we can expect. AAR delivered year-on-year revenue growth of 11.8%, beating analysts’ expectations by 7.4%, and Howmet reported revenues up 13.8%, topping estimates by 2.3%. AAR traded up 4.2% following the results while Howmet was also up 1.1%.
Read our full analysis of AAR’s results here and Howmet’s results here.
Investors in the aerospace segment have had steady hands going into earnings, with share prices flat over the last month. Curtiss-Wright is up 8.6% during the same time and is heading into earnings with an average analyst price target of $569.50 (compared to the current share price of $601.78).
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