Curtiss-Wright Reports Second Quarter 2026 Financial Results and Raises Full-Year 2026 Guidance

About this update from Curtiss-wright Corporation

Curtiss-Wright Corporation (NYSE: CW) reports financial results for the second quarter ended June 30, 2026. Second Quarter 2026 Highlights: Reported sales of $924 million, up 5%, operating income of $179 million, operating margin of 19.3%, and diluted earnings per share (EPS) of $4.07; Adjusted operating income of $179 million, up 12%; Adjusted operating margin of 19.4%, up 110 basis points; Adjusted diluted EPS of $3.72, up 15%; New orders of $1.1 billion, up 8%, reflecting a 1.16x book-to-bill; and Free cash flow (FCF) of $160 million, generating 116% FCF conversion. Raised Full-Year 2026 Adjusted Financial Outlook: Sales increased to new range of 8% to 9% growth (previously 7% to 8%), reflecting growth in the majority of Curtiss-Wright's end markets; Operating income increased to new range of 11% to 13% growth (previously 9% to 12%); Operating margin increased to new range of 19.1% to 19.3% (previously 19.0% to 19.2%), representing an increase of 50 to 70 basis points compared with the prior year; Diluted EPS increased to new range of $15.10 to $15.40, now up 14% to 16% (previously $14.90 to $15.30, up 13% to 16%); and FCF increased by $5 million to new range of $585 to $605 million, which continues to reflect greater than 105% FCF conversion. "Curtiss-Wright delivered strong second quarter results, highlighted by mid-single digit revenue growth, operating margin expansion in all three segments, mid-teens growth in Adjusted diluted EPS, and better-than-expected free cash flow generation," said Lynn M. Bamford, Chair and CEO of Curtiss-Wright Corporation. "The momentum continues to build in our order book, underscored by record demand for our defense electronics products. Overall, we experienced strong order growth in both our A&D and Commercial markets, as total orders increased 8% year-over-year and resulted in an overall book-to-bill of 1.16x." "Based on our strong first-half execution and our outlook for the remainder of the year, we are confidently raising our full-year outlook for sales, operating income, operating margin, diluted EPS and free cash flow. Curtiss-Wright remains strategically aligned with many favorable secular trends and embedded growth vectors across our A&D and Commercial markets. Overall, the team is successfully executing on our Pivot to Growth strategy, which will enable us to continue to deliver significant long-term profitable growth for Curtiss-Wright stakeholders." Second Quarter 2026 Operating Results (In millions) Q2-2026 Q2-2025 Change Reported       Sales $ 924   $ 877     5 % Operating income $ 179   $ 156     14 % Operating margin   19.3 %   17.8 % 150 bps           Adjusted (1)       Sales $ 924   $ 877     5 % Operating income $ 179   $ 160     12 % Operating margin   19.4 %   18.3 % 110 bps (1) Reconciliations of Reported to Adjusted operating results are available in the Appendix. Sales of $924 million increased 5% compared with the prior year period; Total Aerospace & Defense (A&D) market sales increased 6%, while total Commercial market sales increased 5%; In our A&D markets, we experienced solid growth in the defense markets, principally driven by higher naval defense revenues, overall higher sales of electromechanical actuation equipment and continued strong OEM sales growth in the commercial aerospace market; In our Commercial markets, we experienced solid growth in the power & process market mainly driven by higher sales of commercial nuclear solutions, as well as modest sales growth in the general industrial market reflecting higher sales of industrial vehicle products; and Adjusted operating income of $179 million increased 12%, while Adjusted operating margin increased 110 basis points to 19.4%. This performance was driven by favorable absorption on higher revenues, favorable mix in the Aerospace & Industrial and Defense Electronics segments, and the benefits of the Company's restructuring initiatives, partially offset by higher investment in research and development. Second Quarter 2026 Segment Performance Aerospace & Industrial (In millions) Q2-2026 Q2-2025 Change Reported       Sales $ 268   $ 239     12 % Operating income $ 49   $ 39     26 % Operating margin   18.3 %   16.3 % 200 bps           Adjusted (1)       Sales $ 268   $ 239     12 % Operating income $ 49   $ 40     25 % Operating margin   18.4 %   16.6 % 180 bps (1) Note: Reconciliations of Reported to Adjusted operating results are available in the Appendix. Sales of $268 million, up $29 million, or 12%; Growth in our defense markets reflected increased sales of sensors products and actuation equipment supporting various domestic and international fighter jet programs, in addition to higher sales of electromechanical actuation equipment; Commercial aerospace market revenue growth reflected higher OEM sales of actuation equipment, sensors products and surface treatment services on both narrowbody and widebody platforms; Growth in the general industrial market reflected the benefit of higher sales of industrial vehicle products principally serving off-highway vehicle platforms; and Adjusted operating income was $49 million, up 25% from the prior year, while Adjusted operating margin increased 180 basis points to 18.4%, driven by favorable absorption on higher revenues, mix of products, and the benefits of the Company's restructuring initiatives, partially offset by higher investment in research and development. Defense Electronics (In millions) Q2-2026 Q2-2025 Change Reported       Sales $ 246   $ 253     (3 %) Operating income $ 69   $ 68     1 % Operating margin   28.0 %   26.8 % 120 bps             Adjusted (1)       Sales $ 246   $ 253     (3 %) Operating income $ 69   $ 68     1 % Operating margin   28.0 %   26.8 % 120 bps (1) Note: Reconciliations of Reported to Adjusted operating results are available in the Appendix. Sales of $246 million, down $7 million, or 3%; Higher revenue in the aerospace defense market was principally driven by increased sales of embedded computing equipment on various domestic fighter jet and unmanned aerial vehicle (UAV) programs, partially offset by lower sales on various helicopter programs; Lower ground defense market revenues reflected the timing of tactical communications equipment sales, partially offset by higher sales of turret drive stabilization and radar systems equipment to various international customers; and Adjusted operating income was $69 million, up 1% from the prior year, while Adjusted operating margin increased 120 basis points to 28.0%, reflecting favorable mix of embedded computing revenues and the benefits of the Company's cost containment initiatives, which more than offset higher investment in research and development. Naval & Power (In millions) Q2-2026 Q2-2025 Change Reported       Sales $ 410   $ 384     7 % Operating income $ 71   $ 60     18 % Operating margin   17.3 %   15.7 % 160 bps           Adjusted (1)       Sales $ 410   $ 384     7 % Operating income $ 71   $ 64     12 % Operating margin   17.3 %   16.5 % 80 bps (1) Note: Reconciliations of Reported to Adjusted operating results are available in the Appendix. Sales of $410 million, up $26 million, or 7%; Revenue growth in the naval defense market was principally driven by timing of revenues on the Virginia-class submarine program and higher aftermarket revenue supporting naval shipyards; Power & process market revenues primarily reflected higher sales of commercial nuclear solutions supporting next-generation advanced reactors, as these projects continue to transition from development into the initial prototype stage, as well as higher government nuclear revenues; and Adjusted operating income was $71 million, up 12% from the prior year, while adjusted operating margin increased 80 basis points to 17.3%, primarily due to favorable absorption on higher revenues. Free Cash Flow (In millions) Q2-2026 Q2-2025 Change Net cash provided by operating activities $ 181   $ 137     33 % Net capital expenditures   (21 )   (19 )   8 % Free cash flow $ 160   $ 117     37 % Free cash flow of $160 million increased $43 million, principally driven by higher cash earnings, lower working capital, and lower tax payments. New Orders and Backlog New orders of $1.1 billion increased 8% compared with the prior year, driven by record demand for our defense electronics products. In our A&D markets, we experienced strong growth in aerospace and ground defense, as well as continued strong demand for commercial aerospace products, while our Commercial markets reflected solid demand for commercial nuclear, process and industrial products; and Backlog of $4.5 billion, up 10% from December 31, 2025, reflecting strong demand across the A&D and Commercial markets. Share Repurchase and Dividends During the second quarter, the Company repurchased 20,105 shares of its common stock for approximately $15 million; In May 2026, the Company's Board of Directors authorized an 8% increase in the quarterly dividend, from twenty-four cents ($0.24) per share to twenty-six cents ($0.26) per share, which represented the 10th consecutive year that Curtiss-Wright has increased its dividend; and During the second quarter, the Company declared a quarterly dividend of $0.26 a share. Full-Year 2026 Guidance The Company is updating its full-year 2026 Adjusted financial guidance (1) as follows: ($ in millions, except EPS) 2026 Adjusted Non-GAAP Guidance (Prior) 2026 Adjusted Non-GAAP Guidance (Current) Change vs 2025 Adjusted (Current) Total Sales $3,740 - $3,795 $3,768 - $3,813 8 - 9% Operating Income $712 - $729 $720 - $736 11 - 13% Operating Margin 19.0% - 19.2% 19.1% - 19.3% 50 - 70 bps Diluted EPS $14.90 - $15.30 $15.10 - $15.40 14 - 16% Free Cash Flow (2) $580 - $600 $585 - $605 6 - 9%   (1)  Reconciliations of Reported to Adjusted 2025 operating results and 2026 financial guidance are available in the Appendix, and exclude first-year purchase accounting costs associated with prior-year acquisitions, costs associated with both our FY24 and FY26 Restructuring Programs, and a current-year gain on equity securities held for investment purposes.   (2)  2026 Free Cash Flow guidance includes higher capital expenditures supporting growth and efficiency, reflecting a year-over-year increase of approximately $25 million compared with 2025 results. A more detailed breakdown of the Company’s 2026 financial guidance by segment and by market, as well as all reconciliations of Reported GAAP amounts to Adjusted non-GAAP amounts, can be found in the accompanying schedules. Historical financial results are available in the Investor Relations section of Curtiss-Wright’s website. Conference Call & Webcast Information The Company will host a conference call to discuss its second quarter 2026 financial results and updates to 2026 guidance at 10:00 a.m. ET on Thursday, August 6, 2026. A live webcast of the call and the accompanying financial presentation, as well as a webcast replay of the call, will be made available by visiting the Investor Relations section of the Company’s website at www.curtisswright.com . (Tables to Follow) CURTISS-WRIGHT CORPORATION and SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (UNAUDITED) ($'s in thousands, except per share data)                   Three Months Ended   Six Months Ended   June 30,   June 30,     2026       2025       2026       2025   Product sales $ 777,167     $ 746,679     $ 1,548,186     $ 1,425,656   Service sales   146,841       129,897       289,509       256,565   Total net sales   924,008       876,576       1,837,695       1,682,221                   Cost of product sales   478,529       479,253       983,044       921,343   Cost of service sales   81,389       71,166       159,078       142,257   Total cost of sales   559,918       550,419       1,142,122       1,063,600                   Gross profit   364,090       326,157       695,573       618,621                   Research and development expenses   25,140       23,308       49,322       46,327   Selling expenses   46,012       41,764       90,558       81,689   General and administrative expenses   113,730       104,071       216,066       203,100   Restructuring expenses   517       707       1,427       1,993                   Operating income   178,691       156,307       338,200       285,512                   Interest expense   9,926       10,524       19,867       20,667   Other income, net   25,530       10,982       33,727       17,012                   Earnings before income taxes   194,295       156,765       352,060       281,857   Provision for income taxes   (43,127 )     (35,704 )     (72,706 )     (59,459 ) Net earnings $ 151,168     $ 121,061     $ 279,354     $ 222,398                                   Basic earnings per share $ 4.09     $ 3.21     $ 7.57     $ 5.90   Diluted earnings per share $ 4.07     $ 3.19     $ 7.53     $ 5.87                   Dividends per share $ 0.26     $ 0.24     $ 0.50     $ 0.45                   Weighted-average shares outstanding:               Basic   36,939       37,692       36,914       37,682   Diluted   37,120       37,903       37,085       37,871   CURTISS-WRIGHT CORPORATION and SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) ($'s in thousands, except par value)           June 30,   December 31,     2026       2025   Assets       Current assets:       Cash and cash equivalents $ 477,149     $ 371,345   Receivables, net   997,350       932,344   Inventories, net   668,728       615,097   Other current assets   93,788       99,688   Total current assets   2,237,015       2,018,474   Property, plant, and equipment, net   386,462       382,200   Goodwill   1,686,728       1,692,490   Other intangible assets, net   501,027       532,381   Operating lease right-of-use assets, net   212,475       198,603   Prepaid pension asset   347,356       333,547   Other assets   84,603       63,597   Total assets $ 5,455,666     $ 5,221,292           Liabilities       Current liabilities:       Current portion of long-term and short-term debt $ 200,000     $ 200,000   Accounts payable   285,335       310,303   Accrued expenses   216,537       242,942   Deferred revenue   593,849       561,452   Other current liabilities   100,890       90,870   Total current liabilities   1,396,611       1,405,567   Long-term debt   757,387       757,884   Deferred tax liabilities, net   161,399       154,002   Accrued pension and other postretirement benefit costs   69,192       71,417   Long-term operating lease liability   191,594       178,466   Other liabilities   109,623       120,382   Total liabilities $ 2,685,806     $ 2,687,718           Stockholders' equity       Common stock, $1 par value $ 49,187     $ 49,187   Additional paid in capital   168,981       165,014   Retained earnings   4,571,562       4,310,680   Accumulated other comprehensive loss   (189,969 )     (173,812 ) Less: cost of treasury stock   (1,829,901 )     (1,817,495 ) Total stockholders' equity $ 2,769,860     $ 2,533,574           Total liabilities and stockholders' equity $ 5,455,666     $ 5,221,292   Use and Definitions of Non-GAAP Financial Information (Unaudited) 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 transparency in order to better measure Curtiss-Wright’s ongoing operating and financial performance and provide more relevant comparisons of our key financial metrics to our peers. These non-GAAP measures should not be considered in isolation or as a substitute for the related GAAP measures, and other companies may define such measures differently. Curtiss-Wright encourages investors to review its financial statements and publicly filed reports in their entirety and not to rely on any single financial measure. Reconciliations of “Reported” GAAP amounts to “Adjusted” non-GAAP amounts are furnished within this release. The following definitions are provided: Adjusted Sales, Operating Income, Operating Margin, Net Earnings and Diluted EPS These Adjusted financials are defined as Reported Operating Income, Operating Margin, Net Earnings and Diluted Earnings per Share under GAAP excluding: (i) the impact of first year purchase accounting costs associated with acquisitions, specifically one-time inventory step-up, backlog amortization, deferred revenue adjustments, transaction costs, and gains/losses on equity securities held for investment purposes; (ii) costs associated with the Company's 2026 Restructuring Program in the current period and the Company's 2024 Restructuring Program in the prior period, as applicable; and (iii) a current period gain on equity securities held for investment purposes. CURTISS-WRIGHT CORPORATION and SUBSIDIARIES RECONCILIATION OF AS REPORTED TO ADJUSTED (UNAUDITED) ($'s in thousands)                                   Three Months Ended   Three Months Ended           June 30, 2026   June 30, 2025   % Change   As Reported   Adjustments   Adjusted   As Reported   Adjustments   Adjusted   As Reported   Adjusted Sales:                               Aerospace & Industrial $ 267,765     $ —   $ 267,765     $ 239,138     $ —     $ 239,138     12 %   12 % Defense Electronics   245,987       —     245,987       253,011       —       253,011     (3 )%   (3 )% Naval & Power   410,256       —     410,256       384,427       —       384,427     7 %   7 %                                 Total sales $ 924,008     $ —   $ 924,008     $ 876,576     $ —     $ 876,576     5 %   5 %                                 Operating income (expense):                               Aerospace & Industrial (2) $ 49,004     $ 399   $ 49,403     $ 39,006     $ 582     $ 39,588     26 %   25 % Defense Electronics (2)   68,768       30     68,798       67,833       19       67,852     1 %   1 % Naval & Power (1)(2)   71,019       88     71,107       60,416       3,134       63,550     18 %   12 %                                 Total segments $ 188,791     $ 517   $ 189,308     $ 167,255     $ 3,735     $ 170,990     13 %   11 % Corporate and other (2)   (10,100 )     —     (10,100 )     (10,948 )     —       (10,948 )   8 %   8 %                                 Total operating income $ 178,691     $ 517   $ 179,208     $ 156,307     $ 3,735   $ 160,042     14 %   12 %                                 Operating margins: As Reported       Adjusted   As Reported       Adjusted   As Reported   Adjusted Aerospace & Industrial   18.3 %         18.4 %     16.3 %         16.6 %   200 bps   180 bps Defense Electronics   28.0 %         28.0 %     26.8 %         26.8 %   120 bps   120 bps Naval & Power   17.3 %         17.3 %     15.7 %         16.5 %   160 bps   80 bps Total Curtiss-Wright   19.3 %         19.4 %     17.8 %         18.3 %   150 bps   110 bps                                 Segment margins   20.4 %         20.5 %     19.1 %         19.5 %   130 bps   100 bps                                 (1) Excludes first year purchase accounting adjustments in the prior year period. (2) Excludes costs associated with the Company's 2026 Restructuring Program in the current period and the Company's 2024 Restructuring Program in the prior period. CURTISS-WRIGHT CORPORATION and SUBSIDIARIES RECONCILIATION OF AS REPORTED TO ADJUSTED (UNAUDITED) ($'s in thousands)                                   Six Months Ended   Six Months Ended           June 30, 2026   June 30, 2025   % Change   As Reported   Adjustments   Adjusted   As Reported   Adjustments   Adjusted   As Reported   Adjusted Sales:                               Aerospace & Industrial $ 522,684     $ —   $ 522,684     $ 466,384     $ —     $ 466,384     12 %   12 % Defense Electronics   502,275       —     502,275       498,175       —       498,175     1 %   1 % Naval & Power   812,736       —     812,736       717,662       —       717,662     13 %   13 %                                 Total sales $ 1,837,695     $ —   $ 1,837,695     $ 1,682,221     $ —     $ 1,682,221     9 %   9 %                                 Operating income (expense):                               Aerospace & Industrial (2) $ 87,502     $ 1,102   $ 88,604     $ 68,928     $ 2,346     $ 71,274     27 %   24 % Defense Electronics (2)   140,695       126     140,821       135,282       19       135,301     4 %   4 % Naval & Power (1)(2)   130,796       199     130,995       102,279       6,202       108,481     28 %   21 %                                 Total segments $ 358,993     $ 1,427   $ 360,420     $ 306,489     $ 8,567     $ 315,056     17 %   14 % Corporate and other (2)   (20,793 )     —     (20,793 )     (20,977 )     (28 )     (21,005 )   1 %   1 %                                 Total operating income $ 338,200     $ 1,427   $ 339,627     $ 285,512     $ 8,539     $ 294,051     18 %   15 %                                 Operating margins: As Reported       Adjusted   As Reported       Adjusted   As Reported   Adjusted Aerospace & Industrial   16.7 %         17.0 %     14.8 %         15.3 %   190 bps   170 bps Defense Electronics   28.0 %         28.0 %     27.2 %         27.2 %   80 bps   80 bps Naval & Power   16.1 %         16.1 %     14.3 %         15.1 %   180 bps   100 bps Total Curtiss-Wright   18.4 %         18.5 %     17.0 %         17.5 %   140 bps   100 bps                                 Segment margins   19.5 %         19.6 %     18.2 %         18.7 %   130 bps   90 bps                                 (1) Excludes first year purchase accounting adjustments in the prior year period. (2) Excludes costs associated with the Company's 2026 Restructuring Program in the current period and the Company's 2024 Restructuring Program in the prior period. CURTISS-WRIGHT CORPORATION and SUBSIDIARIES RECONCILIATION OF AS REPORTED SALES TO ADJUSTED SALES BY END MARKET (UNAUDITED) ($'s in thousands)                   Three Months Ended   Three Months Ended         June 30, 2026   June 30, 2025   % Change Aerospace & Defense markets:                 Aerospace Defense   $ 176,007     $ 167,587       5 % Ground Defense     90,135 )     97,542 )     (8 %) Naval Defense     263,058       240,086       10 % Commercial Aerospace     114,298       103,318       11 % Total Aerospace & Defense   $ 643,498     $ 608,533       6 %   Commercial markets:             Power & Process   $ 173,688     $ 163,473       6 % General Industrial     106,822       104,570       2 % Total Commercial   $ 280,510     $ 268,043       5 %               Total Curtiss-Wright   $ 924,008     $ 876,576       5 %                   Six Months Ended   Six Months Ended         June 30, 2026   June 30, 2025   % Change Aerospace & Defense markets:             Aerospace Defense   $ 355,446     $ 319,309       11 % Ground Defense     191,542       194,779       (2 %) Naval Defense     513,139       461,172       11 % Commercial Aerospace     224,803       196,195       15 % Total Aerospace & Defense   $ 1,284,930     $ 1,171,455       10 %   Commercial markets:             Power & Process   $ 340,745     $ 306,407       11 % General Industrial     212,020       204,359       4 % Total Commercial   $ 552,765     $ 510,766       8 %   Total Curtiss-Wright   $ 1,837,695     $ 1,682,221       9 %               CURTISS-WRIGHT CORPORATION and SUBSIDIARIES RECONCILIATION OF AS REPORTED TO ADJUSTED DILUTED EARNINGS PER SHARE (UNAUDITED)                   Three Months Ended   Six Months Ended   June 30,   June 30,     2026       2025       2026       2025   Diluted earnings per share - As Reported $ 4.07     $ 3.19     $ 7.53     $ 5.87   First year purchase accounting adjustments   —       0.02         0.13 Gain on equity securities   (0.36 )     —       (0.36 )     —   Restructuring costs   0.01       0.02       0.03       0.05   Diluted earnings per share - Adjusted (1) $ 3.72     $ 3.23     $ 7.20     $ 6.05                   (1) All adjustments are presented net of income taxes. Organic Sales and Organic Operating Income The Corporation discloses organic sales and organic operating income because the Corporation believes it provides investors with insight as to the Company’s ongoing business performance. Organic sales and organic operating income are defined as sales and operating income, excluding contributions from acquisitions and results of operations from divested businesses or product lines during the last twelve months, costs associated with the Company's 2026 Restructuring Program in the current period and the Company's 2024 Restructuring Program in the prior period, and foreign currency fluctuations.   Three Months Ended   June 30,   2026 vs. 2025   Aerospace & Industrial   Defense Electronics   Naval & Power   Total Curtiss-Wright   Sales   Operating income   Sales   Operating income   Sales   Operating income   Sales   Operating income As Reported 12%   26%   (3%)   1%   7%   18%   5%   14% Less: Acquisitions 0%   0%   0%   0%   0%   0%   0%   0% Restructuring 0%   0%   0%   0%   0%   0%   0%   0% Foreign Currency 0%   1%   0%   0%   0%   0%   0%   1% Organic 12%   27%   (3%)   1%   7%   18%   5%   15%                                   Six Months Ended   June 30,   2026 vs. 2025   Aerospace & Industrial   Defense Electronics   Naval & Power   Total Curtiss-Wright   Sales   Operating income   Sales   Operating income   Sales   Operating income   Sales   Operating income As Reported 12%   27%   1%   4%   13%   28%   9%   18% Less: Acquisitions 0%   0%   0%   0%   0%   0%   0%   0% Restructuring 0%   (1%)   0%   0%   0%   0%   0%   0% Foreign Currency (1%)   2%   0%   0%   0%   0%   0%   1% Organic 11%   28%   1%   4%   13%   28%   9%   19% Free Cash Flow and Free Cash Flow Conversion The Corporation discloses free cash flow because it measures cash flow available for investing and financing activities. Free cash flow represents cash available to repay outstanding debt, invest in the business, acquire businesses, return capital to shareholders and make other strategic investments. Free cash flow is defined as net cash provided by operating activities less net capital expenditures. The Corporation discloses free cash flow conversion because it measures the proportion of net earnings converted into free cash flow and is defined as free cash flow divided by adjusted net earnings. CURTISS-WRIGHT CORPORATION and SUBSIDIARIES NON-GAAP FINANCIAL DATA (UNAUDITED) ($'s in thousands)                                   Three Months Ended   Six Months Ended   June 30,   June 30,     2026       2025       2026       2025   Net cash provided by operating activities $ 181,183     $ 136,585     $ 175,528     $ 97,820   Capital expenditures               Capital expenditure additions   (29,451 )     (19,381 )     (41,283 )     (35,154 ) Grant proceeds for capital expenditures   8,528       —       8,528       —   Net capital expenditures   (20,923 )     (19,381 )     (32,755 )     (35,154 ) Free cash flow $ 160,260     $ 117,204     $ 142,773     $ 62,666   Free cash flow conversion   116 %     96 %     53 %     27 % CURTISS-WRIGHT CORPORATION 2026 Guidance As of August 5, 2026 ($'s in millions, except per share data)                                   2025 Reported (GAAP)   2025 Adjustments (Non-GAAP) (1)   2025 Adjusted (Non-GAAP) (1)   2026 Reported Guidance (GAAP)   2026 Adjustments (Non-GAAP) (2)   2026 Adjusted Guidance (Non-GAAP) (2)               Low High       Low High   Chg vs 2025 Adjusted Sales:                               Aerospace & Industrial $ 977     $ —     $ 977     $ 1,058   $ 1,070     $ —     $ 1,058   $ 1,070     8 - 10% Defense Electronics   1,019       —       1,019       1,055     1,075       —       1,055     1,075     4 - 6% Naval & Power   1,503       —       1,503       1,655     1,668       —       1,655     1,668     10 - 11% Total sales $ 3,498     $ —     $ 3,498     $ 3,768   $ 3,813     $ —     $ 3,768   $ 3,813     8 - 9%                                 Operating income:                               Aerospace & Industrial $ 166     $ 4     $ 170     $ 189   $ 194     $ 6     $ 195   $ 200     15 - 17% Defense Electronics   278       —       278       291     298       —       291     298     5 - 7% Naval & Power   231       13       245       277     282       1       278     283     14 - 16% Total segments $ 675     $ 17     $ 693     $ 757   $ 774     $ 7     $ 764   $ 780       Corporate and other   (42 )     —       (42 )     (43 )   (44 )     —       (43 )   (44 )     Total operating income $ 634     $ 17     $ 651     $ 714   $ 729     $ 7     $ 720   $ 736     11 - 13%                                 Interest expense $ (43 )   $ —     $ (43 )   $ (41 ) $ (41 )   $ —     $ (41 ) $ (41 )     Other income, net   30       —       30       51     51       (17 )     34     34       Earnings before income taxes $ 620     $ 17     $ 638     $ 724   $ 739     $ (10 )   $ 713   $ 728       Provision for income taxes   (136 )     (4 )     (140 )     (155 )   (158 )     2       (153 )   (156 )     Net earnings $ 484     $ 14     $ 498     $ 569   $ 581     $ (8 )   $ 560   $ 571                                       Diluted earnings per share $ 12.87     $ 0.36     $ 13.23     $ 15.31   $ 15.61     $ (0.21 )   $ 15.10   $ 15.40     14 - 16% Diluted shares outstanding   37.6           37.6       37.1     37.1           37.1     37.1       Effective tax rate   21.9 %         21.9 %     21.5 %   21.5 %         21.5 %   21.5 %                                     Operating margins:                               Aerospace & Industrial   17.0 %         17.4 %     17.9 %   18.1 %         18.5 %   18.7 %   110 - 130 bps Defense Electronics   27.3 %         27.3 %     27.6 %   27.7 %         27.5 %   27.7 %   20 - 40 bps Naval & Power   15.4 %         16.3 %     16.7 %   16.9 %         16.8 %   17.0 %   50 - 70 bps Total operating margin   18.1 %         18.6 %     18.9 %   19.1 %         19.1 %   19.3 %   50 - 70 bps                                 Free cash flow (3) $ 554     $ —     $ 554     $ 585   $ 605     $ —     $ 585   $ 605     6 - 9%                                 Notes: Amounts may not add due to rounding. (1) 2025 Adjusted financials are defined as Reported Operating Income, Operating Margin, Net Income and Diluted EPS under GAAP excluding costs associated with the Company's 2024 Restructuring Program and the impact of first year purchase accounting adjustments. (2) 2026 Adjusted financials are defined as Reported Operating Income, Operating Margin, Net Income and Diluted EPS under GAAP excluding costs associated with the Company's 2026 Restructuring Program and a gain on equity securities held for investment purposes. (3) Free Cash Flow is defined as cash flow from operations less capital expenditures. 2026 Free Cash Flow guidance includes higher capital expenditures supporting growth and efficiency, reflecting a year-over-year increase of approximately $25 million compared with 2025 results. CURTISS-WRIGHT CORPORATION 2026 Sales Growth Guidance by End Market As of August 5, 2026                                   2026 % Change vs. 2025 Adjusted                   Prior   Current   % Total Sales Aerospace & Defense Markets           Aerospace Defense 11 - 13%   12 - 14%   20% Ground Defense (4 - 6%)   (4 - 6%)   10% Naval Defense 6 - 8%   7 - 9%   27% Commercial Aerospace 10 - 12%   10 - 12%   13% Total Aerospace & Defense 6 - 8%   7 - 9%   70%             Commercial Markets           Power & Process 13 - 15%   13 - 15%   19% General Industrial Flat   1 - 3%   11% Total Commercial 8 - 10%   8 - 10%   30%             Total Curtiss-Wright Sales 7 - 8%   8 - 9%   100%             Note: Sales percentages may not add due to rounding. About Curtiss-Wright Corporation Curtiss-Wright Corporation (NYSE:CW) is a global integrated business that provides highly engineered products, solutions and services mainly to Aerospace & Defense markets, as well as critical technologies in demanding Commercial Nuclear Power, Process and Industrial markets. We leverage a workforce of approximately 9,200 highly skilled employees who develop, design and build what we believe are the best engineered solutions to the markets we serve. Building on the heritage of Glenn Curtiss and the Wright brothers, Curtiss-Wright has a long tradition of providing innovative solutions through trusted customer relationships. For more information, visit www.curtisswright.com . Forward-Looking Statements Certain statements made in this press release, including statements about future revenue, financial performance guidance, quarterly and annual revenue, net income, operating income growth, future business opportunities, cost saving initiatives, the successful integration of the Company’s acquisitions, and future cash flow from operations, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements can be identified by the use of forward-looking terminology such as “anticipates,” “believes,” “continue,” “could,” “estimate,” “expects,” “intend,” “may,” “might,” “outlook,” “potential,” “predict,” “should,” “will,” as well as the negative of any of the foregoing or variations of such terms or comparable terminology, or by discussion of strategy. These statements are not historical facts and present management's estimates, expectations, beliefs, plans and objectives regarding future financial performance, and assumptions or judgments concerning such performance. Such forward-looking statements are not guarantees of future performance and are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. Although it is not possible to create a comprehensive list of all factors that may cause our actual results to differ from the results expressed or implied by our forward-looking statements or that may affect our future results, some of these factors and other risks and uncertainties are described in Item 1A “Risk Factors” of our Annual Report on Form 10-K and in our other periodic filings with the Securities and Exchange Commission and include, but are not limited to, risks relating to: a reduction in anticipated orders; an economic downturn; geopolitical risks; evolving impacts from tariffs between the U.S. and other countries (including implementation of new tariffs and retaliatory measures); changes in the competitive marketplace and/or customer requirements; a change in government spending; an inability to perform customer contracts at anticipated cost levels; supply chain constraints and inflationary impacts on prices for raw materials and components used in our products; failure of our subcontractors or suppliers to perform their contractual obligations; and other factors that generally affect the business of aerospace, defense contracting, electronics, marine, and industrial companies. Given these risks and uncertainties, you are cautioned not to place undue reliance on such forward-looking statements. These forward-looking statements speak only as of the date they were made, and we assume no obligation to update forward-looking statements to reflect actual results or changes in or additions to the factors affecting such forward-looking statements. This press release and additional information are available at www.curtisswright.com . View source version on businesswire.com: https://www.businesswire.com/news/home/20260805430638/en/

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