CW - Earnings call transcript Q2 2022 | Curtiss-Wright Corporation

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Operator

Welcome to the Curtiss-Wright Second Quarter 2022 Financial Results Conference Call. My name is Daryl, and I will be your operator for today's call. [Operator Instructions] As a reminder, this conference is being recorded. I will now turn the call over to Jim Ryan, Vice President, Investor Relations. Jim, please proceed.

Jim Ryan

good and Daryl, you, morning, everyone. Thank Curtiss-Wright to Second Quarter Call. Conference Earnings XXXX Welcome

the Chair Financial today Officer, me call Joining on are and President Farkas. Lynn Vice and and Chris Chief Officer, Bamford; Executive Chief

and the of are call and statements be our as copy These statements Please for forward-looking as company www.curtisswright.com. well website. download projections management's Private website detail not certain public uncertainties the is release is our Investor found based future the in risks Securities replay are financial a webcast, the Reform at that current of and Our discussion with associated press XXXX. this today forward-looking today's Relations of with can of as the defined will are SEC. and through We guarantees Act our presentation on today's in filings expectations webcast on also available being Litigation note, section A of performance. statements those include

GAAP translation, current available an foreign basis exclude website. As costs in results otherwise a are reconciliations our certain earnings Curtiss-Wright's release and the and provide organic in transparency non-GAAP currency and unless divestitures noted. greater prior performance. references adjusted that to year ongoing to include are non-GAAP into view to Any reminder, growth an and order excludes for financial adjusted on the acquisitions operating periods and company's on

over the to like I'd to call turn Lynn started. get Now to things Lynn?

Lynn Bamford

influencing of recent to provide everyone. second are our results XXXX turn our more covering Chris key our XXXX the updates to and financial that quarter Then over guidance. Thank detailed by a call I'll morning, some highlights and good I'll review and to begin business. you, remarks our our the Jim, performance of events

sequential high prepared with XXXX was second expectations before for of wrap we with Overall I'll our up performance. our million in growth. Q&A. to quarter line single-digit Starting Finally, move sales remarks our $XXX

results strong and our commercial combined portfolio ongoing supply impacted was those Our by Defense Aftermarket, markets, of process end chain again highlighted our to industrial Outside performance driven timing in our of within the due once for Nuclear Electronics, global particularly the our by demand markets. strength of disruption. revenues the defense aerospace, areas,

operational Regarding long-term Naval team commendable margin solid mainly Power our ensure and second and performance, expansion continued second of operational combating on inflation chain a our We expectations. done XX% and that the the performance, profitable diluted pricing a to challenges quarter supply that job by adjusted & the on demonstrated excellence. quarter, exceeded growth. mix has $X.XX to we driven rising provide to path better-than-anticipated pressures remain mitigating in increased Based in operating a EPS and

XXXX. aerospace backlog Defense ongoing commercial strong building within X.XXx were the our upon in constraints, through year-over-year, A&D strong, Process Nuclear which into reflecting and to commercial likely second supply increases which This as already XX% orders Naval are and visibility chain manage now we in up New our Book-to-bill and in was additional year-to-date. quarter, provides comfort our markets within X% up the continue is and backlog, markets.

Next, events. recent updates a I'd provide on like to few some

and and million strengthen pivot capital acquisition XX, which Chris reinforce of have sales, announce XXXX, In wing million greater of to actions approximately in fixed sheet. that or our in strong recent arresting will $XX aircraft million to revolving it arresting leading balance is provide flexibility we announced our $XXX systems. on moves notes the on half the financing projecting and credit We're provide priced of XXXX. healthy new later efficiency call. we May, senior color made expanded that SAA, will we in military the generated growth supplier on facility, completed ability a that systems and in our second we this First, front, us in the In execute a allocation. June we additional to SAA aerospace excited These week, strategy. are Safran past to also $XX on and business, contribute approximately

with As XX% reminder, based in the of sales are a its world. in rest of U.S. XX%

foreseeable We In base Aftermarket revenue is exceptional global an split believe a fit, evenly strategic and of addition, systems stream SAA's business greater financial to to than our and more in the to X% strong and providing top X% flow recurring financial of we XXX% margin align with corporate-wide of revenues growth, to than for long-term OEM installed this rate operating and line its objectives are between cash supports addition fairly free achieve for growth business, X,XXX steady steady conversion. worldwide. Further, sales expansion future. expect continued organic this our SAA

year adjusted our per and full guidance, where sales, share. XXXX Next, our to diluted earnings operating we raised income

growth for including contribution the to X%, in markets, sales X%, organic outlook driven of the end by increases are expect our we majority SAA. now of and our X% to We X% of from total maintaining growth

revenues additional to the continued in to components times of couple in this A&I and second to outlook and like about guidance delayed half of chain our Electronics availability timing within more Power and & supply As our the profitability updated provide Defense electronic we'll Naval key our as within segments, disruption. a lead I'd offset conservative discuss year. of morning, reflects of sales Defense be Electronics the by higher notes a segment due

revenues by activity providing of levels Electronic that quarter, Additionally, speed challenges Defense more Defense of this pushed of 'XX defense Electronics were million timing has late response chain. orders, budget however, the our supply saw now to to early the stronger following customers half have second Together, out resolution. is as continued The ongoing impacting a greater recovery. second $XX we the in first returned delayed acceleration since the that This inventory normal in DoD in in manage FY their the about the immediate in continuing quarter, a optimism cadence for the signing XXXX. in the of orders an

increase a half the all markets. of commercial of strong solid experienced out, we've markets despite As continued growth and second A&D expect across and historically year the the we our push during the

Our growth, guidance driving has business. to and we new been operating to continuing a increased X% in operating margin of are invest the range X% solid income while to expansion

remain on are XXXX. results also in We EPS strong generate growth diluted we In deliver summary, free achieve cash positioned in track to flow. to double-digit strong well and

I to Chris? Now for outlook performance to the the Chris over more our and quarter remainder of provide year. second our a call XXXX like to of thorough review turn would the

Christopher Farkas

morning, as with in key by and the our Aerospace X% of begin and second income increased and delivered Lynn, where quarter XXXX good everyone. Industrial, drivers another you, X%, results respectively. operating performance sales & I'll we strong Thank segment. Starting

the actuation on Airbus. Within to that demand the for share with both recently related main commercial the content, a been technology pleased the reflecting On won we've to segment's aircraft Airbus aerospace actuation custom we're that and AXXX we deck on secured UpNext with on also to announced working and been and stating strong demonstrator and really electric wins provide our sales F future our technology widebody Airbus relationship strengthen note, Airbus cargo award these platforms. a first-of-a-kind for We've program. door technology market, more than narrowbody grew XX%, we significant

sales industrial and segment's products, serving notably reflected industrial specialty markets, principally the our vehicle Within of vehicle most increased results platforms. off-highway

to performance. operating Turning the segment's

pressures included expansion. and favorable results any inflationary as basis more $X which strong Our margin million also supply noting where operational offset chain XX otherwise sales of incremental reflected year-over-year absorption an our the benefits results on in worth that It's on investments we'd segment's than in as R&D well initiatives, the points demonstrated operating excellence margin.

in Electronics. Defense Next,

of chain the challenges timing reflected upon the defense again impacting based supply performance revenues Our industry. the

of computing communications As as result, Aerospace in jet we well reduced fighter and programs a equipment Ground various experienced as sales lower-embedded Defense supporting in revenues tactical Defense. helicopter

Within A&D second the orders, revenues, To expect normalized forward results in the sales aerospace second our the positive half second half. based the we commercial of instrumentation due on half, the increased second quarter market, reflected results of which the in volumes year. [Audio Gap] segment's to timing

Power & Naval segment. the in Next,

than the timing continue those In on and up. the were sales double-digit market, and Power program. ramp revenues, & CVN-XX where Those -- process, impacts carrier reflected to X wind-down programs. experience the more Our results carrier CAPXXXX offset the production production our Virginia-class very programs to of and Aftermarket lower higher to offset submarine results reflected due And Nuclear by the these increases Process in these mainly Naval offset continue Defense aircraft CVN-XX both as Columbia-class of revenues strong demand. submarine on we growth

To process and margin quarter year-over-year XXX in improved of we operating excellence year-over-year the Naval our XXX up sequentially. was reflecting Curtiss-Wright profitability, XX.X%, up Defense above basis as points markets overall, the delivered points segment's at mix the the sum as second Regarding operational initiatives. and up slightly margin XX points basis benefits in expectations expansion, well basis results,

Slide full on Next, our sales turning begin end to guidance. X with XXXX I'll market our year outlook.

X%. overall $XX growth total X% million and Curtiss-Wright we expect earlier, mentioned As from sales now now to contribution guidance Lynn our reflects of the acquisition, a SAA

of Defense, continue A&D of in Aerospace expect XX%, to X% I'll updated our the expect we from which growth our reflects unchanged several growth sales markets. to guide, acquisition. to rates now end our we the X%, In contribution We growth prior sales in organic SAA but & X% the principally of begin from markets.

growth more our actuation and a positive but the now Defense A&I addition, rate slightly segment. outlook favorable a expect Electronics lower within the In segment for within we sales

to Ground Turning Defense.

a U.S. equipment efforts. its the remains priority communications to tactical modernization Our support high for Army

and a ongoing sales resolution, However, and in both continuing XXXX. the updated supply by to our is of guidance sensitive delays funding reflects the delays caused out chain push business

result our on year market up down before we slightly Wrapping As second our sales. strong in A&D the now despite and a to project half Ground XXXX. forecast, be recovering a Defense

it's our unchanged of which order we Power our in markets, well remains industrial noting end performance range worth Defense Naval for markets market though strong on increased outlook A&D based both in very to experience year-to-date outlook. Aerospace, for performance and and new demand Aftermarket for to valve these and Process X% that both raised X% Nuclear & the the products. to of a guidance long-term of our growth and both strong our activity, continue bodes XXXX Our Commercial Outside

As Aerospace new segment our a for aerospace by where begin market our we raised in a on and commercial outlook Continuing strong X%. growth range our commercial to in markets I'll Slide to sales. project overall Industrial, of both X. industrial result, growth X% general & we've outlook with to continue

operating X% supporting the performance market, benefits continues actuation top Defense initiatives. income of strong by jet our segment's sales margin of reflects the operating guidance higher and Ground our Our Aerospace growth due and improved updated reflect F-XX operational X% line to in electromechanical to to now Defense. demand excellence fighter driven growth within in improved The and sales

segment. revised volumes. segment sales be ground reflect Next, result, chain as our to a in we Defense income year-over-year. guidance sales expect to aerospace growth Despite markets. expectations our overall Electronics current we challenges year the now for operating and backlog, the impacting And lowered growing reflect a sales We've supply to flat defense our reduced

our R&D slightly margin raised spending. we However, lower for assumptions

remain annual the book note to margin now of This & top to X% the an strong remains just acquisition. as from levels of and is Power margin we shifted customer-funded And Process contribution the important X% the that secure we to X%, to segment operating to income positive operating note X%, markets is while in this name order in Full which X% by it's and we growth segment projected to increase dilutive to and Power that driven aligned year is the view our million Regarding hypersonics, SAA to improved the X% spending, be the organic. as R&D underlying contracts typical to to grow income note investment would that first XX.X%. overall sales segment Naval of receive segment, it's operating reimbursement XX% Curtiss-Wright a for SAA development strong to as during including to in encryption priorities, X continues lastly, guidance, programs. particularly our important an We the to it a year now ensure were development, a a that while expect increase acquisition. and X new to integration will I months $X of cyber, few. able highest increases DoD's & is we

summarize Curtiss-Wright we to to a income our operating So X% in to to sales. X% outlook, overall expect X% increase X% total on

adjusted million from headwinds ranging financial year full basis We the to a and solution XX outlook operating which continue guidance increase CAPXXXX Continuing XX.X%, to year to $X.XX with X. to our by to represents range We wind-down a $X expect raised $X.XX, including EPS points, growth in R&D improve acquisition. XXXX $X.XX of on XX.X% Slide new to on our the margin first SAA XX% year-over-year. margin to XX% XX investments, diluted

and Our transaction address of expense to income financing, SAA grow sequentially to mid- deliver for second Investor by quarterly double-digit single XXXX based timing to from sales operating quarter use sales, our high updated grow with updated performance. pleased revolver single including due both fourth expect and EPS say rates, interest also while projections guidance your quarter operating sequentially, and modeling some some I'm organic $X SAA, of new aligns we very income I'll aid continued to as EPS adjusted offset Day we third growth. for growth our Overall, quarter growth reflects digits profitable to digits and by high growth by which of expect XXXX SAA, the higher diluted shortly. partially the a in To strong with our in million outlook sales and results compared defense higher by on May the increase a EPS excess that to now XXXX generating followed accretion

free to Turning year flow full our cash outlook.

higher of million Our of levels range naval remains the from have on unchanged half free $XXX contribution the lower-than-expected revenues, SAA. guidance performance. far contracts resulted first advanced and a including inventory in in million, XXXX, flow cash payments for timing Thus $XXX to

Looking half, underlying I to few wanted strong forward our expectations to for a on color some second a provide drivers.

we've leads ramp higher in First, liquidation half billings we're as historically. and to revenues, of seen product second this shipment upon expecting a collections levels strong inventory and substantial and both a

CAPXXXX the China, the amount of completion second a of to reactor pumps This substantive Second, of of the large fourth surge we naval payment our production upon the milestone we in contract cash of program which a expect cash pooling X-year quarter. orders. China. mark to in expect quarter the would third, significant expecting recent in delivery conclusion our And tied advances we're the final

capital to year. full team on in is our on accelerating flow are and calls Beyond on expect any on aggressively long-term focused cash exposures adjusted flow We're of this, free management and the very free and exceed collection XXXX. frequency the working cash of generation. track mitigate information remain conversion flow the to target working again We XXX%

further the size expanding financial with $XXX at up advantage we In to current Lynn to to a accordion of institutions, I'll both financing $XXX our our also we million sheet increasing initiatives. Next, balanced for opted in upsized market. million steps new that circled reminder, at And of rates, million notes. further very of the very credit environment, we also, than XX, capital upsized delayed strong XXXX, the interest $XXX leverage investment-grade potential strong call. the proceeds credit recent new XXXX. facility revolver. value revolving rating, a with quarter by $XXX due May to of to for of get rate months agreement for XX-year capital and $XXX our confidence taken And took notes while We the performance a expand use XX-year we first more facility In the which on support feature $XXX offering with of long-term growth up allocation and we the as ahead our strategy liquidity from flexibility. additional by structure, of at and and our in and July coming X.XX% start our nature notes a into syndicate in our X-year ratios the in and the X entered have current provides note given several line actions our ability to us remain Overall, sufficient balance conservative in provide rate strengthen remain the notes competitive opportunity of million million financial flexibility the some although On hikes. and with shareholders. to we've attractive highlighted a placement amended internal pleased pricing $XXX private feature July, further X.XX% to taking a of We intend and drive these million consisting rates. our in we million have the draw in to revolving We short-term

Now turn I'd continue call to like remarks. prepared Lynn? to our back with over the Lynn to

Lynn Bamford

driving provide our optimism. and rapid operational to on total with enact market to excellence, that in solid With remain our agile also both in as balanced track and some support commitment disruptions Chris. impact XXXX added a to our to allocation exceptional focus prioritize continue from on benefits I'd of our for operational year positioned to prior inventories, adjacent critical a achieve will the continue our second team healthy pivot-to-growth continued shareholders. Curtiss-Wright, and macro provide Curtiss-Wright the keep strategy, Thank conditions XXXX investments. would for examples SAA in and agility ability Day builds This our and ongoing on I including cases, is This and job to and are we're perspective revenue which performance to offset Most in bottom and acquisitions market they supply operating being maintains of the XXXX, business order our sharper strategy the most segment given a market mitigated is to market capitalizing conditions negative sales profitable with take future delaying The into accelerator and In were on commercial our entirely Curtiss-Wright we strength these and business react confidence pivot-to-growth X our to few markets and to also supplemented Though by like ability execution The track SAA. The in sales recently, to to repurchase focus an a while feel supply resiliency ability initial how operational breadth strategic in chain any looking during some uncertain full to today constraints example our to focused return guidance and but of projections in decline programs, contribution to and on record our we the of will Curtiss-Wright what's company-wide our defense of be rebalancing, us guidance the faced through of our challenges, long on our and XXXX we are operational we significant prime uncertainty, back and further the has market do on along a business drove their the Investor solid pandemic customers acquisitions that The illustrate under like minutes portfolio. excellence recovery. effectively support different beyond. the strategy continue the a drive top in continued half delays recently balance operating about market deliver you, to related growth. line through capital macro chain managing sheet fears changes challenging margins. drive remaining executing strong slightly strongly a sales. spite our our and our backdrop, add in income to recession an growth. to share as growth. maximize by situation

serve long-term the prospects year, in very this Curtiss-Wright we beyond markets Looking remain for healthy. the

across markets strong key funding. expect portfolio. XXXX an a for Several with of to are enter positioned our We backlog of influx the

profitable to both secular and and from our We will Investor improve carbon-free like this in delivering for benefit in domestic the long-term to generation. energy the remain to across expect our to value ability our as strong the continue globe. cash electrification remain time, today's more I committed I outlook modernization, well drive they call budgets, targets market trends and, growth strong in international, open conference and in and drive end We to independence free closing, confident Day to XXXX our energy deliver would led At meet for our In questions. shareholders. profitability by strength, broadly, strong up as defense to flow

Operator

comes Instructions] Peter And from first question [Operator Arment. our

Peter Arment

expects, the just factored of lingering On to the in? we that also on have if tied would if CR. fall, your aspect you CR in get chain, modest how your impact any I and of outlook kind a in updated everyone that Electronics if Defense supply push-out the on wondered the you thoughts mentioned which

Lynn Bamford

spite and will most House is yes, So a really the predicting nice then at mark in I of moving a Senate pace, are CR. there think, reasonable consensus up general people through the -- be

in low-XXs it is I've CR a the I the think discussions The anticipated almost days. what is year past or of nature this which so. most of days, the XXX in into listened X-month was historically, being the average over decade CR, happened has

have that backlogs continue let with in think X-month in the buffet like will the segment. to really a that organic up ability that we've this that book-to-bill strong strong growth experienced CR that year to give us the the past and year us will to I enter we'll that drive in segment

is bookings, But definitely uncertainty it the million well say the out something combined like the seen that this the year. push X but it's months it it in in with And so that -- we to and chain. the for recovery supply sure it's is goes $XX -- year, part of was we've beyond hard are during

Peter Arment

And Okay. bookings. then mentioned you

to you Are in are strong, markets. hold? have kind bookings above were And of levels? take -- when rate any markets Your change pre-pandemic of all particularly back commercial the begins just your they seen really recession our commercial

Lynn Bamford

to Chris can that. speak

Christopher Farkas

the all we some XXXX. year, a nearly would and will Last just backlog say up But XXXX our having we're May to starting to Aftermarket that had when industrial both Yes. in thought And signs strong XXXX our seeing we reminder, markets Nuclear levels. And Day, doubled. And back year. this pre-pandemic vehicle close very Peter, very, levels to I recover at are our This markets. recover back to that levels Investor very, as off the XXXX that is that markets, within were process of we market not year. we're this process year, actually very record recovered the what

and somewhere in us that mean, Aftermarket, 'XX we I of 'XX we XX% the I probably that fully the order getting We've market little our that. provided orders in about I quarter commercial off mean, recover very feel difference. frame, time But right what now recovery will a strong. that up puts in still to year-over-year the year-over-year. next book are we QX, was area XXXX on had there the I those said to aerospace back XXXX. would levels. range and fairly were closest the levels. think 'XX, for aerospace split XX% very in comfortable we the that's but up year-to-date to that, pre-pandemic is our to further We're full guidance Nuclear say bit And then commercial beneath

from feel more those you than confident the that from that Process are of in market fast-growing the to that us program as benefiting year. And we've we are changes very So very made the of some Power & offsetting and trajectory of markets wind can guidance see well. that for recovery down the the this CAPXXXX continued ramp

overall, the saw book order what and QX. with So and pleased QX here very we in

Operator

Liwag. Kristine from comes question next our And

Kristine Liwag

chain, vertically industry, core problem sense the look be chain, industry When trusted needs the forward? your provider defense areas supply are the Defense seen integrate or you particularly a and competencies we've at there in to you areas in in to support for tightness make that going either internal Electronics. your for the the across Lynn, supply

Lynn Bamford

that definitely it see debated us have in an I open not evolve supplier. a would something We've the becoming supply if and finding component and see don't internally. that past through that's call So I stay point, integrated it. know question to discussed don't I interesting would vertically we we're that we and this at it to manage ways markets and continue the to chains But evolve. think as decisions completely

provide customers. focused see and That's our -- on develop ways on several investment our lot and significant and that a It's allow years. to formed security But a been an trusted for as products DoD there component becoming ability provide of focused not to ways very addressing new without we a and different to vertically a enhancing don't partnerships electronics Now There's are the very have we from really us specifically. that we've area the electronics needs we of our becoming are us on are in trusted capability that thing. for we integrated. area that supplier

Kristine Liwag

how switching shape maybe And the Aftermarket perhaps duration gears globally, cycle, color are the you demand? Nuclear energy demand any customers business? like plants? of the and in on Can to quickly seeing the steepness considering Can the you're disruptions strong in to nuclear. existing supply you the mean, acting characterize I provide of the extend life of

Lynn Bamford

the XX to really just in XX-year the the revenues extensions. we're here any getting And what we -- see be definitely U.S., Aftermarket a is in beginning Canada. are So at commercial cycle from to started the Nuclear we've that seen to uptick. going in beginning very I of demand It's think truthfully, long life the

behind, there's life about plants talked Korea power extending South changing lot will nuclear power. across plants next be chatter has power nuclear Europe and Japan -- stance their back online. bringing and towards a of of

by government. Germany power even power, its determination which has of antinuclear strongest nuclear notably, a the started to on kind most think talk -- been stance I about has

in are our X future, funding continued exciting believe X arena bills, and we be we're recent setting driving X newbuild government, Gen positioned and of very and well APXXXX the into Reduction Act. the Act for the this. of Gen and globe the the the aside a that, continued it with to providing reactors global markets would support products then extending the in ongoing these a in from reactors really and end Reduction at We're and has the have sales believe strong and of have Inflation Even funding both CHIPS the so life and reach we some strong in has work the Act will that plus I focused reactors the that beginning newbuilds. development And cycle. extensions directed around acceleration all nuclear towards CHIPS sure the be on channels that life advanced the that And distribution also for Act is funding that nuclear Inflation around actually the our has making

think in a we're I So exciting beginning behind here at that I period we're lot the of just there's that And a it the really think U.S., and just of for momentum seeing group. globally. what's

Operator

comes Michael Ciarmoli. next Our question from

Michael Ciarmoli

look M&A you to In Kristine Just Because you sure Nuclear Canada, invest position you I I in need kind be asking. more? mean, Is to that to do mentioned your anything has to that Aftermarket? what anything kind positioned. kind shore on in of in Do Aftermarket, done up mentioned was Korea. global U.S., expand Lynn, making your Europe? do you to Nuclear But Europe? at opportunities that to you the reach, of of just there presence mean, need stay you're

Lynn Bamford

there I optimistic that of and right feel not -- we're what we're the But activity. as happen our for those comfortable is that when the places seeing, I them. optimistic in We it's positioned be globally looking enough those I our Truthfully, mean, very well build, But possibly ability area think reach we're that that's into in reactor out stated we're with still nuclear maximize that working that that's we're reach make capabilities markets have in and whether discussions direct and strengthening we our again, for where a to bit is fantastic an the those area definitely around we to developments to going all a will expansion, road make drive business, a mean or if that, business we're to going business drive for on But need that part growth down needed France, the engineering, something that the the needed, that's think would be is as new team feeling with to doesn't grow known get exploring kind win intent partnerships, staffing I sure staffing the we -- going as that making some business. we a we're broaden that's globally. cycles that things active But we're And win, an within there to into to our the the normal now. investments but confident to of going. that's that's markets. think really that capital if to we're and the

Michael Ciarmoli

it. Got

of give can even OEM market? what Just orders the emerging kind first? of just of sort on as potential us orders on you update you might Any or that, kind Do a APXXXX status on thought which mentioned pending to the have of the side. you SMR hit

Lynn Bamford

our watching broadly positioned where developers X new not very news, find or Energy, GE Well, have year all this variety across that it's able little of and likely developers. couple, we'll We're most very a to players those back to nuclear Hitachi, as that we've And the working we're public. be you to if wins. working sure in about with just SMR of losers. hope we're to we're in And read some closely a I'm winners has make to name been additional half content already is. the TerraPower, said, of engaged announcements make are picking with new a bit them. engagement of But the that I here

we in begin has independence And war the things Ukraine urgency work. was to to orders not APXXXX -- need the Eastern politics I that And European changed. us an about sense of to ramping changed optimistic has began. a continue And those that order And speak, timing world continue the the forward put ironically of so timing work change, that as their that I energy I steady think think up for they prior a across of again, we activity lot see day but feel rate we is happen and our just of getting obviously, to all really of countries.

future So for progressing the this provide I of to those think both Curtiss-Wright of middle in great are decade.

Operator

no Lynn more I'll have Chair back we Executive it turn in Bamford. and Officer, And questions queue. the to

Lynn Bamford

have who and again to speaking Well, and during us day. we earnings a able forward with look to thank today, join conference quarter you, call, was you XXXX third our everybody, great

Operator

ladies today's for Thank you, Thank participating. and you gentlemen. conference. This concludes

now may You disconnect.

Curtiss-Wright (CW) 6 Aug 222022 Q2 Earnings call transcript