Benzinga | May 26, 2021 07:16AM EDT

Curtiss-Wright To Host Virtual Investor Event At 8:30 a.m. ET; Introduces 3-Year Financial Targets, Including Revenue CAGR 5-10%

Company Outlines New Strategy to Drive Long-Term Profitable Growth; Introduces 2023 Financial Targets including 5-10% Revenue CAGR and Minimum 10% EPS CAGR

Curtiss-Wright Corporation (NYSE:CW) today announced that it will host its virtual Investor Day beginning at 8:30 a.m. Eastern Time.

Lynn M. Bamford, President and Chief Executive Officer, K. Christopher Farkas, Vice President and Chief Financial Officer, and Kevin M. Rayment, Vice President and Chief Operating Officer, along with other senior executives, will provide an in-depth review of the Company's business drivers and new strategy to deliver long-term profitable growth, including an intensified focus on innovation, collaboration, strategic investments, and capital allocation, while also introducing its new long-term financial targets.

"Curtiss-Wright enjoys a strong track record of operational excellence and financial discipline, which continue to play a key role in driving robust free cash flow generation," said Lynn M. Bamford, President and CEO of Curtiss-Wright Corporation. "Leveraging that strong base, our new Pivot to Growthstrategy is led by a renewed focus on top-line acceleration, through both organic and inorganic sales growth. This strategy is built upon our new operational growth platform and continued disciplined M&A, while maintaining our focus on top-quartile performance. We are confident in our ability to achieve our new 3-year financial targets and unlock significant value for all of our stakeholders."

Introducing 3-Year Financial Targets (from Base Year 2020):

* Total Revenue CAGR of 5-10%

* Operating Income Growth > Revenue Growth

* Top Quartile Margin Performance (relative to CW's proxy peer group)

* Adjusted EPS CAGR of at least 10%

* Free Cash Flow Conversion above 110% Event Webcast Details: A live webcast of the presentations, including one question and answer session at the conclusion of the prepared remarks, will begin at 8:30 a.m. EDT and conclude at approximately 11:30 a.m. EDT. The presentations and webcast can be accessed through the Investor Relations section of Curtiss-Wright's website at investors.curtisswright.com. Registration for the live event is required and can be completed on the Investor Day 2021 Registration Site. An archived replay of the webcast and slides shown during the presentations will be available following the completion of the event for one year.