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ASHBURN, Va. - Curtiss-Wright Corporation (NYSE: CW), a global provider of high-tech engineering products and services with a market capitalization of $11.7 billion, has secured a significant contract with the U.S. Navy. The firm-fixed-price Indefinite Delivery, Indefinite Quantity (IDIQ) contract, valued at approximately $50 million, tasks the company with supplying high-speed data acquisition systems and repair services to support the Naval Air Systems Command Special Flight Test Instrumentation Pool. According to InvestingPro data, the company maintains strong financial health with revenue growth of nearly 10% over the last twelve months.
The contract, extending through January 2030, encompasses a wide range of Curtiss-Wright’s flight test instrumentation products. These include data acquisition units, network switches, data recorders, and other critical components used in the testing and operation of various military aircraft. Platforms benefiting from this technology will include the F-35, F-18, CH-53K, E-2D, EA-18, and C-130, as well as future U.S. Navy development programs.
Brian Perry, Senior Vice President and General Manager of Curtiss-Wright’s Defense Solutions Division, expressed pride in the Navy’s selection of their technology, viewing it as an endorsement of their products’ reliability and performance. The contract renewal builds on a 15-year relationship between Curtiss-Wright and the Naval Air Systems Command.
Curtiss-Wright is recognized as a leading supplier of aerospace data acquisition solutions for flight test instrumentation applications. Their products play a crucial role in data capture and analysis for a variety of aerospace platforms, from jets to space launchers.
This announcement is based on a press release statement and reflects the company’s anticipation of a continued partnership with the U.S. Navy and the success of its data acquisition systems. However, the forward-looking statements are subject to risks and uncertainties that could impact actual results. InvestingPro analysis indicates the stock is currently trading above its Fair Value, with a P/E ratio of 29.3x and strong liquidity metrics, as liquid assets exceed short-term obligations.
Investors should note that Curtiss-Wright’s business, like that of other aerospace and defense contractors, can be influenced by factors such as government spending and market competition. The company, with a heritage tracing back to aviation pioneers Glenn Curtiss and the Wright brothers, serves a diverse range of markets with a workforce of approximately 8,800 skilled employees. For a deeper understanding of Curtiss-Wright’s financial position and growth prospects, InvestingPro subscribers can access 13 additional ProTips and a comprehensive Pro Research Report, which transforms complex Wall Street data into actionable intelligence.
In other recent news, Curtiss-Wright Corporation reported fourth-quarter 2024 financial results that exceeded consensus expectations for both revenue and earnings per share. Despite this strong performance, Stifel analysts lowered their price target for Curtiss-Wright to $331, maintaining a Hold rating, due to concerns over the company’s current valuation. Curtiss-Wright also completed a significant acquisition, purchasing Ultra Energy for $200 million, which is expected to enhance its commercial nuclear portfolio and positively impact earnings per share in the first full year. Additionally, Curtiss-Wright secured a $27 million contract with the U.S. Navy for its Aircraft Ship Integrated Securing and Traversing systems, part of a potential $100 million agreement. The company declared a quarterly dividend of $0.21 per share, reflecting its ongoing commitment to shareholder returns. Meanwhile, Citi initiated coverage on Curtiss-Wright with a Buy rating and a $410 price target, citing expected revenue boosts from defense spending trends and aerospace production rates. Citi analysts also anticipate Curtiss-Wright will become net cash positive by 2026, supported by a projected 13% earnings growth through 2027. These developments underscore a period of strategic growth and financial activity for Curtiss-Wright.
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