Slide 1: Investor Briefing Fourth Quarter 2024
INVESTOR BRIEFING Investor Relations contact: Jim Ryan, VP Investor Relations T: 704-869-4621 jim.ryan@curtisswright.com Fourth Quarter 2024
Slide 2: Safe Harbor Statement
SAFE HARBOR STATEMENT Please note that the information provided in this presentation is accurate as of the date of the original presentation. The presentation will remain posted on this website from one to twelve months following the initial presentation, but content will not be updated to reflect n
Slide 3: Curtiss-Wright at a Glance
CURTISS-WRIGHT AT A GLANCE Leading Provider of Highly Engineered & Mission 8,600+ >$3B Critical Technologies in Aerospace & Defense, Employees Revenue Commercial Power, Process & Industrial Markets BROAD & INTEGRATED PORTFOLIO GLOBAL FOOTPRINT 2024E Sales by End Market1 2023 Sales by Geography AEROS
Slide 4: Why We Win | Key Differentiators
WHY WE WIN | KEY DIFFERENTIATORS Strong Domain Expertise Highly Engaged Culture Managing and designing to meet customer needs and reduce risks Dedicated to integrity, excellence, and innovation Decades of Knowledge Transfer Global Footprint Since inception in major markets Engineering, sales, suppor
Slide 5: Pivot to Growth Strategy for Long-Term Profitable Growth
PIVOT TO GROWTH STRATEGY FOR LONG-TERM PROFITABLE GROWTH 1 2 3 Maintain Drive Growth Accelerate Disciplined Through Organic Capital Continued Growth Allocation Through Innovation Operational Utilize M&A as a and Collaboration Excellence Strategic Accelerator Maximizing Revenue And Operating Income G
Slide 6: Strong Foundation and Execution
STRONG FOUNDATION AND EXECUTION 2021 Investor Day Key Messages Delivered on Targets Target Actual1 ✓ Pivot to Growth, both organic and inorganic; reinvesting into the business to fuel the innovation engine; disciplined and strategic approach to M&A while 5-10% Total Revenue CAGR ✓ Total 7.4% CAGR ma
Slide 7: Building Systems and Infrastructure to Enable Organic Growth
BUILDING SYSTEMS AND INFRASTRUCTURE TO ENABLE ORGANIC GROWTH Building out our operational growth Fueling Competitive Advantage through Innovation, Research and Development platform for long term success • Collaborative Innovation platform captures the brilliance of the enterprise and empowers teamma
Slide 8: Proactively Capturing Key Secular Growth Trends
PROACTIVELY CAPTURING KEY SECULAR GROWTH TRENDS Naval shipbuilding to High-tech battlefield Shift to carbon-free energy Move to electrification accelerate advancement & energy independence across a broad range of air, over the next decade driving larger spending within promotes need for nuclear land
Slide 9: Proven Ability to Leverage Growth in Global Defense Spending
DEFENSE MARKETS PROVEN ABILITY TO LEVERAGE GROWTH IN GLOBAL DEFENSE SPENDING STRONG & DEFENSIBLE ALIGNED WITH Ground MARKET POSITION LEADING GROWTH DRIVERS Defense LT Visibility Across Key Platforms Ford-class Aircraft Carrier, • DoD Priorities ~ 57% Columbia-class, Virginia-class and Naval Shipbuil
Slide 10: Opportunities for Growth Beyond Strong OEM Foundation
C O M M E R C I A L A E R O S PA C E M A R K E T OPPORTUNITIES FOR GROWTH BEYOND STRONG OEM FOUNDATION Commercial Aerospace BROAD & RELEVANT ALIGNED WITH PRODUCT PORTFOLIO LEADING GROWTH DRIVERS 12% 18% ➢ Acceleration in Narrowbody 11% and Widebody Production ~12% 15% Strong Presence on Majority of
Slide 11: Renewing the Core & Aligning to Next-Gen Technologies
POWER & PROCESS MARKET RENEWING THE CORE & ALIGNING TO NEXT-GEN TECHNOLOGIES Power STRONG & RELEVANT ALIGNED WITH & Process PRODUCT PORTFOLIO LEADING GROWTH DRIVERS • Renewed Interest in Commercial Enhancing Power Plant Efficiency And Reliability Nuclear Power Increasing Focus on Reducing Carbon ~ 1
Slide 12: Technologies That Advance Customer Efficiency, Safety and Reduced Emissions
GENERAL INDUSTRIAL MARKET TECHNOLOGIES THAT ADVANCE CUSTOMER EFFICIENCY, SAFETY AND REDUCED EMISSIONS WELL-ESTABLISHED ALIGNED WITH MARKET POSITIONS LEADING GROWTH DRIVERS Broad Portfolio Of Highly- • Advancing Green Technologies ~14% General Industrial engineered Products & Services Push for Zero /
Slide 13: The Power of One Curtiss-Wright
THE POWER OF ONE CURTISS-WRIGHT: Positioned to Leverage Cross-Over Technologies to Accelerate Growth Across the Portfolio CROSS-OVER TECHNOLOGY EXAMPLES Defense technologies have long been leveraged for commercial solutions DEFENSE COMMERCIAL Flight Data & Cockpit SOLUTIONS Industrial Electrificatio
Slide 14: Focused Investments to Drive Strong Financial Performance
FOCUSED INVESTMENTS TO DRIVE STRONG FINANCIAL PERFORMANCE Research & Development Sales & Marketing Systems & Capacity Acquisitions Balancing Investments One Curtiss-Wright Flexibility to Invest in Strategic Fit Supporting for Short-, Medium-, and Market Approach Future Capacity Needs Long-Term Profi
Slide 15: Successful M&A Track Record
SUCCESSFUL M&A TRACK RECORD ESCO Arresting Systems Business Acquisition Close November 2020 June 2022 November 2022 April 2024 Annual Sales Added1 $120M $70M $9M $15M High Barriers to Entry ✓ ✓ ✓ ✓ Unique, High-Value IP ✓ ✓ ✓ ✓ STRATEGIC FILTERS Clear Synergies, Leverages CW’s Operational Excellence
Slide 16: New 3-Year Targets (2024 – 2026)
NEW 3-YEAR TARGETS (2024 – 2026) >5% Operating Income Top Quartile >10% Organic Revenue >105% Growth > Revenue Margin Performance EPS CAGR CAGR FCF Conversion Growth Accelerating the Pace of Core Organic Growth; AP1000 Excluded from Targets and Provides Incremental Upside 16
Slide 17: Long-Term Revenue Growth Assumptions (2024 – 2026)
LONG-TERM REVENUE GROWTH ASSUMPTIONS (2024 – 2026) Aerospace Ground Naval Commercial Power & General Defense Defense Defense Aerospace Process Industrial MSD HSD MSD HSD Nuclear: LDD LSD Process: MSD Key Drivers Enabling Market Outperformance • MOSA • Tactical Comms • Columbia • Record backlog Nucle
Slide 18: Beyond the Next Three Years
BEYOND THE NEXT THREE YEARS The Art of the Possible Known AP1000 Opportunity Today1: • 12+ plants 48+ pumps (4/plant) = $1.5B+ in Europe • Each plant $110M+ over 5-year production cycle Key Assumptions 2X Annual Commercial Nuclear PLEX >15 plants undergoing AP1000 Poland & Bulgaria SMR SMR developme
Slide 19: Why Invest With Us
WHY INVEST WITH US 1 Building momentum as we execute our Pivot to Growth strategy 2 Advancing key enablers with the right talent, systems, and infrastructure to support organic growth 3 Investing in and delivering advanced technologies in attractive end markets 4 Driving strong financial performance
Slide 20: Appendix
APPENDIX 20
Slide 21: Non-GAAP Financial Information
NON-GAAP FINANCIAL INFORMATION The Corporation supplements its financial information determined under U.S. generally accepted accounting principles (GAAP) with certain non-GAAP financial information. Curtiss-Wright believes that these Adjusted (non-GAAP) measures provide investors with improved tran
Slide 22: 2024E End Market Sales Waterfall
FY’24 Guidance: 2024E END MARKET SALES WATERFALL (as of October 30, 2024) Overall UP 7 - 9% A&D Markets UP 10 - 12% Comm’l Markets UP 1 - 3% Total 2024 CW End Markets $3.050B - 3.095B Aerospace & Defense Markets Commercial Markets 69% $2.12B 31% $0.96B Naval Commercial Aerospace Power & Process Gene
Slide 23: 2024 End Market Sales Growth Guidance
2024 END MARKET SALES GROWTH GUIDANCE (As of October 30, 2024) Updated (in blue) 2024E Growth 2024E Growth ($ in Millions) vs 2023 vs 2023 2024E (Prior) (Current) % Sales Key Drivers of 2024 Performance ▪ Higher defense electronics revenue growth on various C5/ISR programs (helicopters and Aerospace
Slide 24: 2024 Financial Guidance
2024 FINANCIAL GUIDANCE (As of October 30, 2024) Updated (in blue) 2024E 2024E Change vs ($ in millions) (Prior) (Current) 2023 Adjusted Key Drivers of 2024 Performance ▪ Strong mid-teens growth in Commercial Aerospace and higher sales in Aerospace and Naval Aerospace & Industrial $925 - 940 $925 -
Slide 25: 2024 Financial Guidance
2024 FINANCIAL GUIDANCE (As of October 30, 2024) Updated (in blue) Change 2024E 2024E vs 2023 ($ in millions, except EPS) (Prior) (Current) Adjusted Key Drivers of 2024 Performance Total Sales $3,010 - 3,060 $3,050 - 3,095 7% - 9% Continued focus on generating profitable growth Total Operating Incom