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“At Curtiss-Wright, the entrepreneurial spirit established by our founders continues to be a key driving force today. We rely on our core competence of developing proprietary technologies and superior performance combined with safety, operational efficiency and reliability that provide our customers with profound value.
We achieved critical mass in our business through solid organic growth and strategic acquisitions, which enables Curtiss-Wright to provide sophisticated products and services through an expansive network of locations around the world. The ‘One Curtiss-Wright’ vision prioritizes the customer to ensure that we continue to deliver state-of-the-art, reliable solutions.
Our new structure has been organizationally flattened, driving the focus upon our diversified end markets through three well-balanced segments – Aerospace & Industrial, Defense Electronics and Naval & Power. This new alignment, our pursuit of operational efficiencies through best practices, and our efforts to increase penetration in high-value end markets worldwide combine to support our overriding vision of one unified global diversified industrial company.
I am confident in the Company's ability to deliver solid organic revenue growth, operating margin expansion, free cash flow generation and balanced capital deployment as we execute our strategic plan. We will continue to invest in the future and build our company through organic investments supplemented by strategic niche acquisitions to expand our unique portfolio of highly engineered, advanced technologies across our commercial and defense businesses.
In 2019, we celebrated our 90th year as a publicly-traded company and we look for continued success in the years to come.”
David C. Adams
Executive Chairman
ABOUT CURTISS-WRIGHT
Curtiss-Wright Corporation (NYSE: CW) has a long history with its roots dating back to Orville and Wilbur Wright's first flight in 1903, and Mr. Glenn Curtiss, the father of naval aviation. In 1929, the companies founded by these three great aviation pioneers, the Curtiss Aeroplane and Motor Company and Wright Aeronautical Corporation, merged to form the largest aircraft company at the time, Curtiss-Wright Corporation.
We have continued on the path of innovation and advanced engineering, and have applied that expertise to a number of critical applications in high-performance markets. Our success has resulted in a world-renowned reputation for performance, long-standing customer relationships and significant growth and profitability in the markets in which we compete.
Today, we are a diversified, multinational provider of highly engineered, technologically advanced products and services. We maintain a balanced and diversified business portfolio with revenues generated across our three segments: Aerospace & Industrial, Defense Electronics and Naval & Power, which support several of the largest, most vital industries in the world. We have been a publicly traded company for more than 90 years and our highly engineered, innovative products and services are recognized for their advanced technology and unsurpassed reliability.
STRATEGY AND VISION
Under the ‘One Curtiss-Wright’ vision, we are striving to become an integrated, market-facing global diversified industrial company.
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. While we currently enjoy leading positions in several of our served key markets, 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.
We’ve set clear and achievable long-term targets for the three-year period ending in 2021: 5 - 7% Total Sales CAGR; 17% Adjusted Operating Margin; 10% Adjusted diluted EPS CAGR (goal to deliver $8.50 in diluted EPS); and $1 Billion in cumulative Free Cash Flow (with 110% average free cash flow conversion). Top quartile performance metrics, combined with a disciplined capital deployment strategy, will serve to improve the competitiveness of Curtiss-Wright over the long term and significantly expand value for all of our stakeholders.