Curtiss-Wright Boosts Buyback Authorization to $700M
CW sits 17% above its 52-week low of $481.7.
Summary
Curtiss-Wright raised its share repurchase authorization to $700 million, a significant increase from the $100 million expansion announced in August. The new authorization expands the buyback by $510 million, and the company will purchase $100 million of stock immediately. The company has a market cap of about $20.7 billion, so this buyback represents roughly 3.4% of shares outstanding. The move signals management's confidence in cash generation and commitment to returning capital. This follows strong Q2 results and a $40 million contract win from Leidos. The expanded authorization provides flexibility for continued buybacks through 2026.
At the time of this announcement, CW was trading at $562.00 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $20.7B. The 52-week trading range was $481.70 to $808.16. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Seeking Alpha.