Q1 2025 Curtiss-Wright Corp Earnings Call Transcript
Key Points
- Curtiss-Wright Corp (CW) reported a 13% year-over-year increase in sales for Q1 2025, driven by strong growth in aerospace and defense markets.
- Operating income increased by 34% year-over-year, resulting in a 260 basis point expansion in operating margins.
- Diluted earnings per share rose by 42% year-over-year, exceeding expectations due to higher aerospace and defense sales.
- The company achieved a record backlog exceeding $3.6 billion, providing strong visibility and confidence in long-term growth.
- Curtiss-Wright Corp (CW) raised its full-year 2025 guidance for sales, operating margins, and earnings per share, reflecting improved outlooks in most aerospace and defense markets.
- Approximately 20% of Curtiss-Wright Corp (CW)'s business is subject to tariff impacts, with an estimated $30 million gross impact for the remainder of 2025.
- The company faces potential margin dilution from the Ultra Energy acquisition as it integrates this business into operations.
- There is ongoing uncertainty related to macroeconomic conditions, including potential recessionary signals and tariff-related headwinds.
- The general industrial market is expected to see flat sales in 2025, with modest growth in automation offset by reduced sales of industrial vehicle products.
- Curtiss-Wright Corp (CW) is cautious about the commercial aerospace market due to ongoing supply chain issues and conservatism in Boeing's production outlook.
Welcome to the Curtiss-Wright first-quarter 2025 earnings conference call.
(Operator instructions)
I would now like to turn the call over to Jim Ryan, Vice President of Investor Relations.
Thank you, Chelsea, and good morning everyone. Welcome to Curtis Wright's first-quarter of 2025 earnings conference call.
Joining me on the call today are Chair and Chief Executive Officer Lynn Bamford; and Vice President and Chief Financial Officer Chris Farkas.
A copy of today's financial presentation and the press release are available for download through the investor relations section of our website at curtiswright.com. The replay of this webcast will also be available on the website.
Our discussion today includes certain projections and forward-looking statements that are based on management's current expectations and are not guarantees of future performance. The detail those risks and uncertainties associated with our forward-looking statements,
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