Stock Story -
Aerospace and defense company Curtiss-Wright (NYSE:CW) will be announcing earnings results tomorrow after market close. Here's what investors should know.
Curtiss-Wright beat analysts' revenue expectations by 7.4% last quarter, reporting revenues of $713.2 million, up 13% year on year. It was a very strong quarter for the company, with a solid beat of analysts' earnings estimates and full-year revenue guidance slightly topping analysts' expectations.
Is Curtiss-Wright a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Curtiss-Wright's revenue to grow 4.5% year on year to $735.8 million, slowing from the 15.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.29 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Curtiss-Wright has only missed Wall Street's revenue estimates once over the last two years, exceeding top-line expectations by 4.3% on average.
Looking at Curtiss-Wright's peers in the aerospace segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Howmet delivered year-on-year revenue growth of 14.1%, beating analysts' expectations by 2.5%, and Astronics reported revenues up 13.6%, topping estimates by 3.7%. Howmet traded up 15.5% following the results while Astronics was down 7.7%.
Read the full analysis of Howmet's and Astronics's results on StockStory.
Investors in the aerospace segment have had steady hands going into earnings, with share prices flat over the last month. Curtiss-Wright is down 2.7% during the same time and is heading into earnings with an average analyst price target of $307.6 (compared to the current share price of $265.18).
