Curtiss-Wright Reports Third Quarter 2025 Financial Results and Raises Full-year 2025 Guidance

About this update from Curtiss-wright Corporation

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Bamford, Chair and CEO of Curtiss-Wright Corporation. "We achieved adjusted operating margin of 19.6%, mid-teens growth in diluted EPS and improved free cash flow generation. We also demonstrated solid order growth of 8%, yielding an overall book-to-bill of 1.1x. Based on our strong year-to-date performance, we have raised our full-year guidance for sales, operating income and diluted EPS."","length":616,"tagName":"p"},{"type":"text","content":""In addition, we recently expanded our 2025 share repurchase program, targeting a new record in annual share repurchases of more than $450 million. 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1.0pt;padding-left:0.0px;padding-right:0.0px;padding-bottom:4.0px;width:4%;","val":[{"type":"text","content":"%","length":1,"tagName":"p","attribs":{}}]}]}],"length":177},{"type":"list","items":[{"val":[{"type":"text","content":"Free cash flow of $176 million increased $13 million as higher cash earnings and lower U.S. tax payments were partially offset by higher working capital.","length":153,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":153,"olType":false},{"type":"text","content":" New Orders and Backlog ","length":22,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"New orders of $927 million increased 8% compared with the prior year and generated an overall book-to-bill of approximately 1.1x, principally driven by continued strong demand in the commercial aerospace and commercial nuclear markets; and","length":239,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Backlog of $3.9 billion, up 14% from December 31, 2024, reflecting higher demand in both our A&D and Commercial markets.","length":124,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":363,"olType":false},{"type":"text","content":" Share Repurchase and Dividends ","length":30,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"During the third quarter, the Company repurchased 581,775 shares of its common stock for approximately $290 million and remains on track to repurchase a record total of more than $450 million in shares in 2025; and","length":214,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"The Company declared a quarterly dividend of $0.24 a share.","length":59,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":273,"olType":false},{"type":"text","content":" Full-Year 2025 Guidance ","length":23,"tagName":"p"},{"type":"text","content":"The Company is updating its full-year 2025 Adjusted financial guidance (1) as follows:","length":85,"tagName":"p"},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-top:solid black 1.0pt;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;width:19%;padding-left:5.0px;white-space:nowrap;","val":[{"type":"text","content":"($ 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;width:28%;","val":[{"type":"text","content":" 2025 Adjusted Non-GAAP Guidance (Prior) ","length":39,"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;width:29%;","val":[{"type":"text","content":" 2025 Adjusted Non-GAAP Guidance (Current) ","length":41,"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;width:24%;","val":[{"type":"text","content":" Change vs 2024 Adjusted (Current) ","length":33,"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:19%;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;width:28%;","val":[{"type":"text","content":"$3,390 - $3,435","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;width:29%;","val":[{"type":"text","content":"$3,420 - $3,455","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 1.0pt;padding-left:0.0px;width:24%;","val":[{"type":"text","content":"Up 10 - 11%","length":11,"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:19%;padding-left:5.0px;","val":[{"type":"text","content":"Operating Income","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;width:28%;","val":[{"type":"text","content":"$626 - $642","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;width:29%;","val":[{"type":"text","content":"$634 - $647","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;width:24%;","val":[{"type":"text","content":"Up 16 - 19%","length":11,"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:19%;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;width:28%;","val":[{"type":"text","content":"18.5% - 18.7%","length":13,"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;width:29%;","val":[{"type":"text","content":"18.5% - 18.7%","length":13,"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;width:24%;","val":[{"type":"text","content":"Up 100 - 120 bps","length":16,"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:19%;padding-left:5.0px;","val":[{"type":"text","content":"Diluted EPS","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;width:28%;","val":[{"type":"text","content":"$12.70 - $13.00","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;width:29%;","val":[{"type":"text","content":"$12.95 - $13.20","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 1.0pt;padding-left:0.0px;width:24%;","val":[{"type":"text","content":"Up 19 - 21%","length":11,"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:19%;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;width:28%;","val":[{"type":"text","content":"$520 - $535","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;width:29%;","val":[{"type":"text","content":"$520 - $535","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;width:24%;","val":[{"type":"text","content":"Up 8 - 11%","length":10,"tagName":"p","attribs":{}}]}]}],"length":400},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"1","rowspan":"1","style":"padding-right:0.0px;text-align:left;vertical-align:top;width:1%;","val":[{"type":"text","content":" (1) ","length":3,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"width:1%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:top;padding-left:0.0px;width:98%;","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 and costs associated with the Company's 2024 Restructuring Program. ","length":281,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"padding-right:0.0px;text-align:left;vertical-align:top;width:1%;","val":[{"type":"text","content":" (2) ","length":3,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"width:1%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:top;padding-left:0.0px;width:98%;","val":[{"type":"text","content":" 2025 Free Cash Flow guidance includes higher capital expenditures supporting growth and efficiency (now reflecting a nearly $25 million year-over-year increase compared with 2024 results), the timing of prior-year record customer advances and a $15 million current-year increase due to a reduction in tax payments driven by the recent signing of the H.R. 1 - "One Big Beautiful Bill Act." ","length":398,"tagName":"p","attribs":{}}]}]}],"length":697},{"type":"text","content":"**********","length":10,"tagName":"p","attribs":{}},{"type":"text","content":"A more detailed breakdown of the Company’s 2025 financial guidance by segment and by market, as well as all reconciliations of Reported GAAP amounts to Adjusted non-GAAP amounts, can be found in the accompanying schedules. Historical financial results are available in the Investor Relations section of Curtiss-Wright’s website.","length":328,"tagName":"p"},{"type":"text","content":" Conference Call & Webcast Information ","length":41,"tagName":"p"},{"type":"text","content":"The Company will host a conference call to discuss its third quarter 2025 financial results and updates to 2025 guidance at 10:00 a.m. ET on Thursday, November 6, 2025. A live webcast of the call and the accompanying financial presentation, as well as a webcast replay of the call, will be made available on the internet by visiting the Investor Relations section of the Company’s website at www.curtisswright.com .","length":414,"tagName":"p"},{"type":"text","content":"(Tables to Follow)","length":18,"tagName":"p","attribs":{}},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"16","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;","val":[{"type":"text","content":" CURTISS-WRIGHT CORPORATION and SUBSIDIARIES ","length":43,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"16","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;","val":[{"type":"text","content":" CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (UNAUDITED) ","length":57,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"16","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;","val":[{"type":"text","content":"($'s in thousand...

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