Curtiss-Wright is an innovative engineering company with approximately $2.2 billion in annual sales and 8,400 employees worldwide. We provide high-tech, critical-function products, systems and services to the commercial, industrial, defense and power markets. While we’re proud of our legacy – “CW” began trading on the New York Stock Exchange (NYSE) in 1929 when Glenn Curtiss, the father of naval aviation, and the Wright brothers merged their businesses – we’re even more excited about our future, as we believe Curtiss-Wright is poised to achieve sustained, long-term organic growth, efficient operating margin expansion and solid free cash flow generation that will enable us to deliver superior shareholder returns.
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Three Reasons to Consider Curtiss-Wright:
1. SOLID GROWTH STRATEGY
We achieved critical mass over the past decade through solid organic growth and strategic acquisitions. Today we have a well-balanced and diversified end market structure serving three major segments - Commercial/Industrial, Defense and Power. Our emphasis has shifted to primarily organic revenue growth, though niche bolt-on acquisitions will play a role if they meet our strategic objectives and investment return requirements. We acquire advanced technology businesses that complement our existing portfolio, increase our content on existing programs or provide expansion in high-growth emerging markets or geographies. We will focus on protecting or expanding market share to ensure that we maintain appropriate mass and scale to realize the synergies and efficiencies necessary to achieve steady operating margin expansion.
2. OUR TECHNOLOGIES MATTER.
Continual adaptation to the changing needs of our customers and technological expertise are Curtiss-Wright’s core competencies. We provide highly engineered products and services for high-performance platforms and critical applications in key areas such as commercial aerospace and defense electronics, reactor coolant pumps for next-generation nuclear reactors and advanced surface treatment technologies. Our customers count on Curtiss-Wright technologies for increased safety, reliability and performance in the most demanding environments. Our goal is to be #1 or #2 in all our key end markets, to be the trusted “go to” company in solving the most difficult engineering problems within specific specialties or solutions.
3. We generate shareholder value.
Over the past decade, Curtiss-Wright’s market capitalization has more than doubled thanks to strong financial performance, as our sales and operating income have achieved double-digit compound annual growth rates. Today we are concentrating on growing steadily by leveraging the critical mass and powerful suite of capabilities we built over the past decade, while driving operational excellence and financial discipline to achieve top quartile performance as compared to our peer group. We’ve set clear and achievable long-term financial objectives: 3-5% organic sales growth, double-digit EPS growth, top quartile operating margins (14%+), greater than 12% Return on Invested Capital (ROIC) and at least 100% free cash flow conversion. Top quartile performance metrics, combined with a balanced capital deployment strategy, will serve to improve the competitiveness of Curtiss-Wright over the long term and significantly expand value for our shareholders.