Curtiss-Wright Raises Guidance Again on Strong Bookings

Curtiss-Wright (NYSE: CW) has reiterated its positive outlook by again raising its full-year financial guidance, building on strong second-quarter performance. Sales increased 5% year-over-year to $924 million, while operating income saw a more substantial 12% jump, reflecting margin expansion. Free cash flow surged 37% to $160 million, underscoring operational efficiency. Key drivers include significant order growth in Defense Electronics, with bookings up nearly 50% year-over-year, fueled by demand for stabilization systems and tactical communications gear. The Aerospace & Industrial segment also demonstrated strength, with sales up 12% and operating income up 25%. Management highlighted the potential of commercial nuclear business, anticipating an order for Westinghouse AP1000 reactors before year-end, supported by a conditional loan commitment from the Department of Energy. While some segments experienced shifts, such as a 3% dip in Defense Electronics sales due to timing, the overall trend points to continued demand. The company anticipates a strong fourth quarter to conclude the year.