Shares of Curtiss-Wright (CW) are soaring 5.23% in intraday trading on Thursday, following the release of the company's impressive first-quarter earnings report. The aerospace and defense company significantly outperformed analyst expectations, driving investor enthusiasm.
Curtiss-Wright reported adjusted earnings of $2.82 per share for the quarter ended March 31, substantially beating the mean analyst estimate of $2.38 per share. This represents a remarkable improvement from the $1.99 per share reported in the same quarter last year. Revenue also exceeded expectations, rising 13% to $805.65 million, compared to the analyst consensus of $767.74 million.
The strong quarterly performance continues a trend of beating estimates, with Curtiss-Wright surpassing expectations in each of the last four quarters. Despite a 6.1% drop in mean earnings estimates over the past three months, Wall Street maintains a bullish outlook on the stock. The current average analyst rating is "buy," with a median 12-month price target of $402.50. Year-to-date, Curtiss-Wright shares have gained 2.0%, with a notable 14.1% increase this quarter alone.
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