Curtiss-Wright raises 2023 guidance after Q2 sales rise 16% to $704 million
Curtiss-Wright reported second-quarter 2023 sales of $704 million, up 16%, and diluted EPS of $2.10 versus $1.83 a year earlier, with adjusted diluted EPS of $2.15, up 18%. The company raised its full-year 2023 adjusted guidance for sales, operating income, diluted EPS and free cash flow, with adjusted diluted EPS now expected at $8.90 to $9.15 versus the prior $8.65 to $8.90.
- Q2 2023 sales of $704 million, up 16%; reported operating income of $113 million, with a 16.0% operating margin
- Diluted EPS of $2.10 (reported) and $2.15 (adjusted), compared with $1.83 in Q2 2022
- Full-year 2023 adjusted sales growth raised to 7% to 9% from 4% to 6%; adjusted diluted EPS raised to $8.90 to $9.15 from $8.65 to $8.90
- Naval & Power adjusted operating income fell 1% to $49 million, with adjusted margin down 230 basis points to 17.6%