Curtiss-Wright Reaffirms 2016 Guidance - Quick Facts

(RTTNews) - Curtiss-Wright Corp. (CW) reaffirmed its full-year 2016 guidance for sales, operating income, operating margin, EPS and free cash flow. Curtiss-Wright continues to expect full-year 2016 earnings per share of $4.00 to $4.15. Curtiss-Wright said the company is expecting modest, sequential improvement in third quarter EPS ranging from $0.95 to $1.00, followed by a strong fourth quarter.

Curtiss-Wright maintained its full-year operating margin guidance for a 90 to 110 basis point improvement compared with pro forma 2015 results. In addition, the company maintained its full-year free cash flow guidance and expects to deliver strong, double-digit growth in 2016.

Curtiss-Wright expects full-year 2017 sales to be in-line with 2016, with continued operating margin expansion and solid free cash flow generation. David Adams, CEO, stated: "For 2017, we expect our sales to be in-line with 2016, as solid organic growth on the AP1000 program and within our defense businesses is expected to be offset by ongoing headwinds in our industrial and nuclear aftermarket businesses. We also expect moderate operating margin improvement, with a goal to achieve top quartile status compared with our peer group, as well as to generate solid free cash flow in 2017."