Slide 1: Q4 2024 Earnings Conference Call
Q4 2024 EARNINGS CONFERENCE CALL Webcast Login: February 13, 2025 curtisswright.com/investor-relations/ Conference Call Dial-in numbers: (800) 343-5172 (domestic) (203) 518-9856 (international) Conference code: CWQ424 Q4 2024 Earnings Presentation
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 Delivered Strong Q4 Results & Record 2024 Performance
CURTISS-WRIGHT DELIVERED STRONG Q4 RESULTS & RECORD 2024 PERFORMANCE Fourth Quarter 2024 Highlights Full Year 2024 Highlights ▪ Sales of $824M, up 5% ▪ Sales of $3.1B, up 10% ▪ Operating Income of $163M; ▪ Operating Income of $546M, up 11% Strong Operating Margin of 19.8% ▪ Operating Margin of 17.5%
Slide 4: Prudent Balance Sheet Management Supports Robust Outlook for 2025
PRUDENT BALANCE SHEET MANAGEMEMT SUPPORTS ROBUST OUTLOOK FOR 2025 Disciplined Capital Allocation Strategy Full Year 2025 Financial Guidance ▪ Closed Ultra Energy acquisition on Dec 31 ▪ 7 - 8% Total Sales growth (MSD organic) – Business increases breadth of CW’s global portfolio – Driven by growth i
Slide 5: Fourth Quarter 2024 Financial Review
FOURTH QUARTER 2024 FINANCIAL REVIEW Q4’24 Q4’23 ($ in millions) Adjusted Adjusted Change Key Drivers of 2024 Performance ▪ Higher YOY sales across all Defense markets and strong growth in Commercial Aerospace (narrowbody and Aerospace & Industrial $251 $238 5% widebody OEM platforms); Partially off
Slide 6: 2025 End Market Sales Growth Guidance
2025 END MARKET SALES GROWTH GUIDANCE (As of February 12, 2025) 2024 2025E Growth 2025E ($ in Millions) Sales vs 2024 % Sales Key Drivers of 2025 Performance ▪ Strong defense electronics revenue growth on various C5/ISR programs Aerospace Defense $617 6% - 8% 20% ▪ Higher sales of arresting systems
Slide 7: 2025 Financial Guidance (segments)
2025 FINANCIAL GUIDANCE (As of February 12, 2025) 2025E Change vs ($ in millions) Adjusted 2024 Adjusted Key Drivers of 2025 Performance ▪ Strong growth in Commercial Aerospace and higher EM actuation sales in Defense markets Aerospace & Industrial $960 - $975 3% - 5% ▪ Flat General Industrial sales
Slide 8: 2025 Financial Guidance
2025 FINANCIAL GUIDANCE (As of February 12, 2025) Change 2024 vs 2024 ($ in millions, except EPS) Adjusted 2025E Adjusted Adjusted Key Drivers of 2025 Performance Total Sales $3,121 $3,335 - $3,385 7% - 8% Strategically focused on delivering profitable growth Total Operating Income $546 $598 - $613
Slide 9: Pivot to Growth Strategy Continues to Build Momentum
PIVOT TO GROWTH STRATEGY CONTINUES TO BUILD MOMENTUM ▪ Well-positioned to deliver strong performance in 2025 – Sales growth of 7% - 8% (MSD organic) reflects increases in A&D and Power & Process markets • Building upon record 2024 order book and strong backlog – Accelerated Operating Margin expansio
Slide 10: Appendix
Appendix Q4 2024 Earnings Presentation 10
Slide 11: Non-GAAP Financial Information
NON-GAAP FINANCIAL INFORMATION The Corporation supplements its financial information determined under U.S. generally accepted accounting principles (GAAP) with certain non-GAAP financial information. Curtiss-Wright believes that these Adjusted (non-GAAP) measures provide investors with improved tran
Slide 12: Fourth Quarter 2024: End Market Sales Growth
FOURTH QUARTER 2024: END MARKET SALES GROWTH ($ in millions) Key Drivers Q4’24 Q4’23 Change ▪ Higher sales of actuation equipment on fighter jet programs Aerospace Defense $171 $172 Flat ▪ Partially offset by timing of international sales of arresting systems equipment Ground Defense $85 $88 (3%) ▪
Slide 13: Full Year 2024: End Market Sales Growth
FULL YEAR 2024: END MARKET SALES GROWTH ($ in millions) Key Drivers FY’24 FY’23 Change ▪ Strong demand for embedded computing equipment principally on helicopter programs Aerospace Defense $617 $552 12% ▪ Higher sales of actuation and sensors equipment on fighter jet programs Ground Defense $353 $30
Slide 14: 2024 End Market Sales Waterfall
FY’24: 2024 END MARKET SALES WATERFALL Overall UP 10% (9% Org.) A&D Markets UP 14% Total 2024 CW End Markets Comm’l Markets UP 1% $3.121B Aerospace & Defense Markets Commercial Markets 70% $2.17B 30% $0.95B Naval Commercial Aerospace Power & Process General Industrial 26% 12% 17% 13% Pumps / Valves
Slide 15: 2025E End Market Sales Waterfall
FY’25 Guidance: 2025E END MARKET SALES WATERFALL (as of February 12, 2025) Overall UP 7 - 8% (4 - 6% Org.) A&D Markets UP 5 - 7% Total 2025 CW End Markets Comm’l Markets UP 9 - 11% $3.335 - 3.385B Aerospace & Defense Markets Commercial Markets 69% $2.31B 31% $1.05B Naval Commercial Aerospace Power &