Curtiss-Wright Reports First Quarter 2025 Financial Results and Raises Full-year 2025 Guidance for Sales, Operating Margin, EPS and Free Cash Flow

About this update from Curtiss-wright Corporation

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Bamford, Chair and CEO of Curtiss-Wright Corporation.","length":297,"tagName":"p"},{"type":"text","content":""We achieved strong growth in the majority of our end markets, accentuated by the timing of naval defense revenues which drove a better than expected increase of 15% in our A&D markets. Additionally, we benefited from a stronger than anticipated operational performance in our Defense Electronics segment, which in combination, greatly contributed to 42% growth in diluted EPS. We were also pleased to start the year with strong momentum in orders, reaching a record quarterly high of more than $1 billion. This performance continues to reflect strong demand in our Aerospace & Defense and commercial nuclear markets."","length":636,"tagName":"p"},{"type":"text","content":""Overall, we are confident in our ability to achieve strong growth and profitability this year. Building on the strength of our first quarter results, we have raised our full-year outlook and now expect to generate total sales growth of 8% to 9%, operating margin expansion of 80 to 100 basis points, and diluted EPS growth of 14% to 17%. Furthermore, we continue to maintain an efficient balance sheet, with ample liquidity, to execute on our disciplined capital allocation strategy. Curtiss-Wright remains well positioned to deliver long-term profitable growth for our shareholders."","length":595,"tagName":"p"},{"type":"readMore"},{"type":"text","content":" First Quarter 2025 Operating Results ","length":36,"tagName":"p"},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"1","rowspan":"1","style":"border-top:solid black 1.0pt;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;width:58%;padding-left:5.0px;","val":[{"type":"text","content":" (In millions) ","length":13,"tagName":"p","attribs":{}}]},{"colspan":"3","rowspan":"1","style":"border-top:solid black 1.0pt;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;padding-left:0.0px;","val":[{"type":"text","content":" Q1-2025 ","length":7,"tagName":"p","attribs":{}}]},{"colspan":"3","rowspan":"1","style":"border-top:solid black 1.0pt;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;padding-left:0.0px;","val":[{"type":"text","content":" Q1-2024 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from December 31, 2024, reflects higher demand across the A&D and Commercial markets.","length":120,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":313,"olType":false},{"type":"text","content":" Share Repurchase and Dividends ","length":30,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"During the first quarter, the Company repurchased 42,383 shares of its common stock for approximately $14 million; and","length":118,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"The Company declared a quarterly dividend of $0.21 a share.","length":59,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":177,"olType":false},{"type":"text","content":" Full-Year 2025 Guidance ","length":23,"tagName":"p"},{"type":"text","content":"The Company is updating its full-year 2025 Adjusted financial guidance (1) as follows:","length":85,"tagName":"p"},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-top:solid black 1.0pt;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;width:25%;padding-left:5.0px;","val":[{"type":"text","content":"($ In millions, except EPS)","length":27,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-top:solid black 1.0pt;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;padding-left:0.0px;text-align:center;list-style-position:inside;width:25%;","val":[{"type":"text","content":" 2025 Adjusted ","length":13,"tagName":"p","attribs":{}},{"type":"text","content":" Non-GAAP Guidance ","length":17,"tagName":"p","attribs":{}},{"type":"text","content":" (Prior) ","length":7,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-top:solid black 1.0pt;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;padding-left:0.0px;text-align:center;list-style-position:inside;width:25%;","val":[{"type":"text","content":" 2025 Adjusted ","length":13,"tagName":"p","attribs":{}},{"type":"text","content":" Non-GAAP Guidance ","length":17,"tagName":"p","attribs":{}},{"type":"text","content":" (Current) ","length":9,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-top:solid black 1.0pt;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;padding-left:0.0px;text-align:center;list-style-position:inside;width:25%;","val":[{"type":"text","content":" Change vs 2024 ","length":14,"tagName":"p","attribs":{}},{"type":"text","content":" Adjusted ","length":8,"tagName":"p","attribs":{}},{"type":"text","content":" (Current) ","length":9,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;width:25%;padding-left:5.0px;","val":[{"type":"text","content":"Total Sales","length":11,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;padding-left:0.0px;text-align:center;list-style-position:inside;width:25%;","val":[{"type":"text","content":"$3,335 - $3,385","length":15,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;padding-left:0.0px;text-align:center;list-style-position:inside;width:25%;","val":[{"type":"text","content":"$3,365 - $3,415","length":15,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 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$632","length":11,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;padding-left:0.0px;padding-right:0.0px;padding-bottom:4.0px;text-align:center;list-style-position:inside;width:25%;","val":[{"type":"text","content":"13 - 16%","length":8,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;width:25%;padding-left:5.0px;","val":[{"type":"text","content":"Operating Margin","length":16,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;padding-left:0.0px;text-align:center;list-style-position:inside;width:25%;","val":[{"type":"text","content":"17.9% - 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1.0pt;width:25%;padding-left:5.0px;","val":[{"type":"text","content":"Free Cash Flow (2) ","length":17,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;padding-left:0.0px;text-align:center;list-style-position:inside;width:25%;","val":[{"type":"text","content":"$485 - $505","length":11,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;padding-left:0.0px;text-align:center;list-style-position:inside;width:25%;","val":[{"type":"text","content":"$495 - $515","length":11,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;padding-left:0.0px;padding-right:0.0px;padding-bottom:4.0px;text-align:center;list-style-position:inside;width:25%;","val":[{"type":"text","content":"2 - 7%","length":6,"tagName":"p","attribs":{}}]}]}],"length":375},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:top;","val":[{"type":"text","content":"(1)","length":3,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:top;padding-left:5.0px;","val":[{"type":"text","content":" Reconciliations of Reported to Adjusted 2024 operating results and 2025 financial guidance are available in the Appendix and exclude first-year purchase accounting costs associated with prior-year acquisitions. ","length":210,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:top;","val":[{"type":"text","content":"(2)","length":3,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:top;padding-left:5.0px;","val":[{"type":"text","content":" 2025 Free Cash Flow guidance includes higher capital expenditures supporting growth and efficiency (reflecting a $14 to $24 million year-over-year increase compared with 2024 results) and the timing of prior year record customer advances. ","length":238,"tagName":"p","attribs":{}}]}]}],"length":454},{"type":"text","content":"**********","length":10,"tagName":"p","attribs":{}},{"type":"text","content":"A more detailed breakdown of the Company’s 2025 financial guidance by segment and by market, as well as all reconciliations of Reported GAAP amounts to Adjusted non-GAAP amounts, can be found in the accompanying schedules. Historical financial results are available in the Investor Relations section of Curtiss-Wright’s website.","length":328,"tagName":"p"},{"type":"text","content":" Conference Call & Webcast Information ","length":41,"tagName":"p"},{"type":"text","content":"The Company will host a conference call to discuss its first quarter 2025 financial results and business outlook at 10:00 a.m. ET on Thursday, May 8, 2025. A live webcast of the call and the accompanying financial presentation, as well as a webcast replay of the call, will be made available on the internet by visiting the Investor Relations section of the Company’s website at www.curtisswright.com .","length":401,"tagName":"p"},{"type":"text","content":"(Tables to Follow)","length":18,"tagName":"p","attribs":{}},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"8","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;","val":[{"type":"text","content":" CURTISS-WRIGHT CORPORATION and SUBSIDIARIES ","length":43,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"8","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;","val":[{"type":"text","content":" CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS...

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