Investor Presentation 2023
2023 FINANCIAL GUIDANCE (As of November 1, 2023)
Updated (in blue)
2023E
2023E
Adjusted
($ in millions, except EPS)
(Prior)
Adjusted
(Current)
Change
vs 2022
Adjusted
Total Sales
$2,730-2,790 $2,765 - 2,815 8% - 10%
Operating Income Growth > Sales Growth (aligns w/ Investor Day)
Total Operating Income
$476-490
$480-494
8%-11%
Other Income
$27-28
~$28
"
Higher YOY pension income
Interest Expense
($52-54)
($52-54)
Diluted EPS
$8.90 - 9.15
$9.00 - 9.20
Diluted Shares Outstanding
~38.5
~38.5
Free Cash Flow
$370-400
FCF Conversion
>110%
(at midpt)
$380-400
>110%
(at midpt)
Capital Expenditures
$50-60
$45-55
■ YOY increase due to impact of higher interest rates
11% 13% Remain on track to achieve 3-year target of double-digit growth
Min. $50M share repurchase in '23
29% 36% Strong FCF from Operations; Improved working capital mgmt
-
■ Continued solid FCF conversion
Average ~2% of Sales (over time)
Depreciation & Amortization
$110-115
$110-115
CURTISS-
WRIGHT
Note: 2022 results included partial year sales contribution from engineered arresting systems acquisition.
Q3 2023 Earnings Presentation 29View entire presentation