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Curtiss-Wright (NYSE:CW – Get Free Report) and AerSale (NASDAQ:ASLE – Get Free Report) are both industrials companies, but which is the better stock? We will contrast the two companies based on the strength of their institutional ownership, dividends, analyst recommendations, profitability, valuation, risk and earnings.

Profitability This table compares Curtiss-Wright and AerSale’s net margins, return on equity and return on assets.

Net Margins Return on Equity Return on Assets Curtiss-Wright 14.81% 20.49% 10.19% AerSale -1.23% -0.27% -0.17% Insider & Institutional Ownership 82.7% of Curtiss-Wright shares are held by institutional investors. Comparatively, 69.5% of AerSale shares are held by institutional investors. 0.5% of Curtiss-Wright shares are held by company insiders. Comparatively, 20.1% of AerSale shares are held by company insiders. Strong institutional ownership is an indication that hedge funds, endowments and large money managers believe a company will outperform the market over the long term.

Volatility & Risk Curtiss-Wright has a beta of 0.84, indicating that its share price is 16% less volatile than the S&P 500. Comparatively, AerSale has a beta of 0.23, indicating that its share price is 77% less volatile than the S&P 500. Earnings and Valuation This table compares Curtiss-Wright and AerSale”s top-line revenue, earnings per share and valuation.

Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio Curtiss-Wright $3.50 billion 6.04 $484.23 million $14.53 39.37 AerSale $303.67 million 0.89 $8.57 million ($0.08) -71.12 Curtiss-Wright has higher revenue and earnings than AerSale. AerSale is trading at a lower price-to-earnings ratio than Curtiss-Wright, indicating that it is currently the more affordable of the two stocks.

Analyst Ratings This is a breakdown of current ratings and target prices for Curtiss-Wright and AerSale, as reported by MarketBeat.com.

Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score Curtiss-Wright 0 4 3 0 2.43 AerSale 2 3 0 0 1.60 Curtiss-Wright currently has a consensus target price of $765.71, suggesting a potential upside of 33.85%. AerSale has a consensus target price of $6.83, suggesting a potential upside of 20.09%. Given Curtiss-Wright’s stronger consensus rating and higher probable upside, analysts plainly believe Curtiss-Wright is more favorable than AerSale.

Summary Curtiss-Wright beats AerSale on 13 of the 14 factors compared between the two stocks.

About Curtiss-Wright (Get Free Report)

Curtiss-Wright Corporation, together with its subsidiaries, provides engineered products, solutions, and services mainly to aerospace and defense, commercial power, process, and industrial markets worldwide. It operates through three segments: Aerospace & Industrial, Defense Electronics, and Naval & Power. The Aerospace & Industrial segment offers industrial and specialty vehicle products, such as power management electronics, traction inverters, transmission shifters, and control systems; sensors, controls, and electro-mechanical actuation components used on commercial and military aircraft; and surface technology services including shot peening, laser peening, and engineered coatings. The Defense Electronics segment provides commercial off-the-shelf embedded computing board-level modules and processing equipment, data acquisition and flight test instrumentation equipment, integrated subsystems, instrumentation and control systems, tactical communications solutions; and electronic stabilization products, and weapons handling systems; avionics and electronics; flight test equipment; and aircraft data management solutions. The Naval & Power segment offers main coolant pumps, power-dense compact motors, generators, steam turbines, valves, and secondary propulsion systems; energy absorbers, retractable hook cable systems, net-stanchion systems and mobile systems to support fixed land-based arresting systems; hardware, valves, fastening systems, specialized containment doors, airlock hatches, and spent fuel management products; reactor coolant pumps and control rod drive mechanisms for commercial nuclear power plants, as well as various nuclear reactor technologies. This segment furnishes severe-service valve technologies and services, heat exchanger repair, and piping test and isolation products, and offers ship repair and maintenance for the U.S. navy. Curtiss-Wright Corporation was incorporated in 1929 and is headquartered in Davidson, North Carolina.

About AerSale (Get Free Report)

AerSale Corporation provides aftermarket commercial aircraft, engines, and its parts to passenger and cargo airlines, leasing companies, original equipment manufacturers, and government and defense contractors, as well as maintenance, repair, and overhaul (MRO) service providers worldwide. It operates in two segments, Asset Management Solutions and Technical Operations (TechOps). The Asset Management Solutions segment engages in the sale and lease of aircraft, engines, and airframes, as well as disassembly of these assets for component parts. The TechOps segment provides internal and third-party aviation services, including internally developed engineered solutions, heavy aircraft maintenance and modification, and component MRO, as well as end-of-life disassembly services. This segment provides aircraft modifications, cargo and tanker conversions of aircraft, and aircraft storage; and MRO services for landing gear, thrust reversers, hydraulic systems, and other aircraft components. The company was founded in 2008 and is headquartered in Coral Gables, Florida.

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DAVIDSON, N.C.--(BUSINESS WIRE)--Curtiss-Wright Corporation (NYSE: CW) today announced that Lynn M. Bamford, Chair and Chief Executive Officer, and K. Christopher Farkas, Executive Vice President and Chief Financial Officer, will participate in and conduct meetings with members of the investment community at two upcoming investor conferences: Alembic Global Advisors 4th Annual Torrey Pines Conference, September 14, 2026, where the Company's CFO will host 1x1 and group meetings; and Morgan Stanl.

It has been about a month since the last earnings report for Curtiss-Wright (CW - Free Report) . Shares have lost about 20.4% in that time frame, underperforming the S&P 500.

But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Curtiss-Wright due for a breakout? Well, first let's take a quick look at its most recent earnings report in order to get a better handle on the recent drivers for Curtiss-Wright Corporation before we dive into how investors and analysts have reacted as of late.

CW Q2 Earnings Top Estimates on Margin Gains, Sales Miss

Curtiss-Wright Corporation reported adjusted earnings of $3.72 per share for the second quarter of 2026, beating the Zacks Consensus Estimate of $3.62 by 2.8%. The bottom line increased 15% year over year, aided by stronger operating profitability across all three segments.

CW’s Q2 Sales Discussion  Sales of $924 million rose 5% year over year but missed the Zacks Consensus Estimate of $931 million by 0.7%. New orders increased 8% to $1.1 billion, while backlog reached $4.5 billion, up 10% from Dec. 31, 2025.

CW's Operating PerformanceAdjusted operating income increased 12% year over year to $179 million. Adjusted operating margin expanded 110 basis points to 19.4%, reflecting favorable absorption on higher revenues, favorable mix and benefits from restructuring initiatives.

Total Aerospace & Defense market sales advanced 6%, while Commercial market sales increased 5%. Within the end markets, naval defense sales rose 10%, commercial aerospace increased 11%, power & process advanced 6% and general industrial improved 2%. Ground defense sales declined 8%.

CW’s Segmental PerformanceAerospace & Industrial sales increased 12% year over year to $268 million. Growth reflected higher defense sales of sensors and actuation equipment, stronger commercial aerospace OEM demand on narrowbody and widebody platforms, and increased industrial vehicle sales.

Defense Electronics sales declined 3% year over year to $246 million. Higher embedded computing sales tied to domestic fighter jet and unmanned aerial vehicle programs were more than offset by timing-related weakness in tactical communications and lower sales on certain helicopter programs.

Naval & Power sales advanced 7% year over year to $410 million. Naval defense benefited from timing on the Virginia-class submarine program and higher aftermarket revenues, while power & process gained from commercial nuclear solutions and government nuclear projects.

CW's Cash Flow and Balance SheetNet cash provided by operating activities was $181 million in the quarter, up 33% from $137 million a year earlier. Free cash flow increased 37% to $160 million, helped by higher cash earnings, lower working capital and lower tax payments.

Cash and cash equivalents totaled $477.1 million as of June 30, 2026, compared with $371.3 million at year-end 2025. Long-term debt was $757.4 million versus $757.9 million at Dec. 31, 2025.

CW's Updated 2026 OutlookCW raised its 2026 adjusted sales outlook to $3.768-$3.813 billion, implying growth of 8-9%. The prior range was $3.740-$3.795 billion. Adjusted operating income is now projected at $720-$736 million, up 11-13% year over year.

The company also lifted adjusted diluted earnings guidance to $15.10-$15.40 per share from $14.90-$15.30. Adjusted operating margin is now expected at 19.1-19.3%, while free cash flow guidance increased to $585-$605 million.

How Have Estimates Been Moving Since Then?It turns out, fresh estimates have trended downward during the past month.

VGM ScoresCurrently, Curtiss-Wright has a nice Growth Score of B, though it is lagging a bit on the Momentum Score front with a C. Charting a somewhat similar path, the stock was allocated a score of D on the value side, putting it in the bottom 40% for this investment strategy.

Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Interestingly, Curtiss-Wright has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Callan Family Office LLC acquired a new stake in Curtiss-Wright Corporation (NYSE:CW – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 971 shares of the aerospace company’s stock, valued at approximately $736,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Goldman Sachs Group Inc. increased its position in Curtiss-Wright by 10.6% in the first quarter. Goldman Sachs Group Inc. now owns 213,101 shares of the aerospace company’s stock worth $67,611,000 after buying an additional 20,379 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Curtiss-Wright during the 2nd quarter valued at $235,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Curtiss-Wright by 53.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 100 shares of the aerospace company’s stock valued at $49,000 after buying an additional 35 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Curtiss-Wright during the 2nd quarter worth $5,423,000. Finally, Cresset Asset Management LLC grew its stake in shares of Curtiss-Wright by 46.4% during the 2nd quarter. Cresset Asset Management LLC now owns 1,442 shares of the aerospace company’s stock worth $705,000 after acquiring an additional 457 shares during the period. 82.71% of the stock is owned by institutional investors.

Analyst Ratings Changes CW has been the topic of a number of research reports. Wall Street Zen cut Curtiss-Wright from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings upgraded shares of Curtiss-Wright from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday. Citigroup lifted their target price on shares of Curtiss-Wright from $775.00 to $793.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 1st. Morgan Stanley reissued an “overweight” rating and issued a $860.00 price target on shares of Curtiss-Wright in a research report on Wednesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft set a $801.00 price target on shares of Curtiss-Wright in a research note on Wednesday, August 12th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Curtiss-Wright presently has an average rating of “Moderate Buy” and a consensus target price of $782.50.

Read Our Latest Research Report on CW Curtiss-Wright Stock Performance NYSE:CW opened at $614.51 on Tuesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.12 and a current ratio of 1.60. Curtiss-Wright Corporation has a 52-week low of $465.51 and a 52-week high of $808.16. The firm has a market cap of $22.69 billion, a price-to-earnings ratio of 42.29, a PEG ratio of 2.86 and a beta of 0.87. The business’s fifty day moving average is $731.72 and its 200 day moving average is $715.86.

Curtiss-Wright (NYSE:CW – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The aerospace company reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.62 by $0.10. The business had revenue of $924.01 million for the quarter, compared to analysts’ expectations of $926.17 million. Curtiss-Wright had a return on equity of 20.49% and a net margin of 14.81%.The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.23 EPS. Research analysts predict that Curtiss-Wright Corporation will post 15.28 EPS for the current year.

Insider Transactions at Curtiss-Wright In other news, CEO Lynn M. Bamford sold 2,500 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $721.72, for a total value of $1,804,300.00. Following the sale, the chief executive officer directly owned 48,134 shares of the company’s stock, valued at approximately $34,739,270.48. This represents a 4.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Gary A. Ogilby sold 399 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $721.95, for a total transaction of $288,058.05. Following the completion of the transaction, the vice president owned 2,172 shares of the company’s stock, valued at $1,568,075.40. This trade represents a 15.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 3,119 shares of company stock valued at $2,257,998. 0.51% of the stock is currently owned by corporate insiders.

Curtiss-Wright Profile (Free Report)

Curtiss-Wright Corporation (NYSE: CW) is a diversified, global engineering company that designs, manufactures and services highly engineered products and integrated systems for the aerospace, defense, and industrial markets. Its offerings span a range of electromechanical, motion control and flow control technologies, including flight control and actuation systems, sensors and avionics components, pumps and valves, power conversion and heat exchangers, and platform integration solutions for marine and ground systems.

Featured Articles Five stocks we like better than Curtiss-Wright Visa Just Put Hims & Hers in the Penalty Box—Here’s Why It Matters Treasury Yields Are Surging Again: 3 Stocks That Could Feel the Pain Snowflake Could Be Headed for New Highs Despite Insider Selling MongoDB Is Surging—And the Next Catalyst Is Almost Here Want to see what other hedge funds are holding CW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Curtiss-Wright Corporation (NYSE:CW – Free Report).

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John C. Watts, EVP & Chief Growth Officer, disposed of 1,035 shares of Curtiss-Wright Corporation (CW -1.51%) at $619.46 per share on Aug. 27, 2026. SEC Form 4 filing.

Transaction summaryMetricValueShares sold1,035Transaction value$641,141Post-transaction shares (directly held)2,736Post-transaction value$1.66 millionTransaction value based on SEC Form 4 weighted average sale price ($619.46); post-transaction value based on Aug. 27, 2026, market close ($605.49).

Key questionsWhat was the structural nature of this disposition?
The reporting person contributed common stock to an exchange fund in exchange for shares of that fund rather than executing an open-market sale. This arrangement allows for portfolio diversification while the transaction was valued at the Aug. 26, 2026, closing price of $619.46.How does the transaction price compare to recent market performance?
The shares were valued at $619.46 for the purposes of the exchange, reflecting a 24% total return for the stock over the 12 months ending on the transaction date. The market closed at $605.49 on the day the transaction was finalized, Aug. 27, 2026.What is the current scale of the insider's remaining direct equity exposure?
Following this transaction, the officer holds 2,736 shares directly. This equity position is valued at $1.66 million as of the Aug. 27, 2026, market close, representing the officer's continuing stake in the company's operations across the aerospace, defense, and power generation sectors.Company OverviewMetricValueShare Price (as of market close 2026-08-26)$619.46Market Capitalization$22.9 billionRevenue (TTM)$3.7 billionNet Income (TTM)$541.2 millionCompany SnapshotCurtiss-Wright Corporation manufactures highly engineered products and components for the aerospace, defense, general industrial, and power generation sectors, generating revenue through the sale of specialized components, integrated systems, and comprehensive solutions to a global customer base.The company operates through three primary business divisions -- Aerospace & Industrial, Defense Electronics, and Naval & Power -- which collectively form the foundation of a diversified revenue model that capitalizes on long-term demand across multiple end markets.The company's primary customers include commercial and military aerospace manufacturers, defense contractors, industrial equipment producers, and power generation operators, positioning Curtiss-Wright as a critical supplier for highly regulated, mission-critical applications.Curtiss-Wright Corporation is a diversified industrial manufacturer with a $22.9 billion market capitalization and approximately 9,100 employees, generating $3.7 billion in TTM revenue with net income of $541.2 million. The company's strategic positioning across aerospace, defense, and industrial markets provides exposure to secular growth drivers, including military modernization, commercial aviation recovery, and industrial automation. With a one-year stock appreciation of 23.94%, Curtiss-Wright demonstrates strong investor confidence in its operational execution and market fundamentals.

What this transaction means for investorsAs is often the case with executive and insider sales, I don't believe this transaction is anything for investors to focus on. It looks like pretty typical trading that helps executives diversify their holdings a bit and/or increase their overall liquidity. Because of the nature of these types of sales, they shouldn't be viewed as a bullish or bearish stance on the stock itself.

As for Curtiss-Wright's actual operations, the company is finally taking a bit of a breather after its share price soared from $200 to $800 within three years. CW's most recent earnings underwhelmed the market -- especially after its P/E ratio rose from 20 to 55 -- prompting the stock's recent sell-off back to $620. Sales growth slowed to 5% in Q2, but management still expects revenue and EPS to grow by 8.5% and 15% in 2026.

Ultimately, I still have Curtiss-Wright stock on my short list, as its nuclear operations are very promising, including an array of nuclear components for which it has a near monopoly. As the data center build-out races on at full speed ahead still, and small modular reactors seem like a promising solution to power them, I think CW stock's future remains bright, even if it has to grow into its valuation. That said, with the stock trading at 40 times forward earnings, investors should take their time with this stock and buy in small batches over time -- especially after last quarter's growth slowdown.

Josh Kohn-Lindquist has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Curtiss-Wright. The Motley Fool has a disclosure policy.

The U.S. Department of Energy (DOE) has given X-Energy (XE) up to $1 billion in additional public funding support for its high-temperature gas-cooled reactor project in Texas. The funding marks another significant federal commitment to advancing next-generation nuclear power generation to meet growing electricity demands.

While there is no shortage of demand from the nuclear renaissance, the rate of deploying new reactors will be determined by the capacity of the supply chain. Expanding capacity for supply chain bottlenecks, such as pump manufacturing and uranium enrichment, is not addressed overnight. The federal government has identified multiple bottlenecks throughout the fuel and supply chain, with companies included in the VettaFi Nuclear Renaissance Index (NUKZX) working to address them today, not tomorrow.

Key Takeaways

Curtiss-Wright (CW) is working to expand reactor coolant pump production capacity for Westinghouse’s large AP1000 reactor.
Centrus Energy (LEU) is expanding domestic production of conventional low-enriched uranium (LEU) and high-assay low-enriched uranium (HALEU).
Fluor (FLR) is working across the nuclear value chain to address the lack of nuclear construction experience with both reactor and fuel facilities.

Curtiss-Wright Illustrates the Component Bottleneck
The reactor coolant pump is one of the largest and most technically demanding components in a pressurized-water reactor. It circulates water through the reactor core and transfers heat to the steam generators.

Each Westinghouse AP1000 requires four reactor coolant pumps. At a November 2025 investor conference, Curtiss-Wright management said the company had capacity to produce approximately 12 to 16 pumps annually. That equates to only three to four AP1000 reactors per year.

Management also indicated that producing and delivering a reactor coolant pump can involve a four- to five-year process. With multiple reports of the federal government looking to announce as many as 20 new reactors in the near future, the feasibility of those endeavors is brought into question.

See more: Cameco Sees Path to 20 New US Large-Scale Reactors

Directly addressing the issue, both the company and the federal government have started taking action. The company recently announced an $80 million multi-year investment in its Cheswick, Pennsylvania campus. This is the manufacturing facility for the AP1000 reactor coolant pumps. The Department of Energy has also stepped up, with a $17.5 billion conditional loan specifically intended for ordering long-lead components for the grid-scale Westinghouse reactors.

Enrichment Capacity Must Precede Reactor Deployment
Fuel represents another potential constraint. The Department of Energy estimates that the United States imports approximately 20% to 25% of its enriched uranium from Russia. The federal ban on Russian low-enriched uranium (LEU) imports, while allowing temporary waivers through 2027, creates a significant supply gap that domestic and allied producers must fill.

Existing large reactors primarily use conventional LEU, while many advanced reactor designs require high-assay low-enriched uranium (HALEU). In the U.S., only LEU is available on a commercial scale, with HALEU only being produced in pilot quantities. Meeting domestic demands for nuclear energy in the U.S. could require as much as $35 billion in capital investment for enrichment capacity alone.

Centrus Energy is racing to address the shortfall, as they recently finalized a $900 million Department of Energy contract supporting commercial-scale HALEU production. Including options for future fuel purchases, the total contract value could reach over $1 billion.

Centrus is also investing more than $560 million in its Oak Ridge centrifuge manufacturing operation. The facility is expected to produce thousands of advanced centrifuges for deployment at the company’s enrichment plant in Ohio.

Fluor Brings Scarce Nuclear Construction Experience
Even when equipment and fuel are available, projects still require experienced firms to integrate design, procurement, construction, and commissioning.

Few engineering, procurement, and construction (EPC) firms have experience with both nuclear projects and megaproject delivery. That shortage extends beyond reactors to enrichment plants, conversion facilities, fuel-fabrication plants, and other nuclear infrastructure. EPC firms like Fluor stand to benefit significantly in an industry plagued with a lack of nuclear construction experience.

Fluor is already working across multiple parts of the current buildout:

Leading EPC firm for the NuScale (SMR) power plant in Romania;
Engineering and design work for Uranium Energy Corp.’s (UEC) uranium conversion facility;
EPC partner for Centrus’ Ohio enrichment expansion; and
Engineering services provider for X-energy’s (XE) Texas reactor project.

How to Gain Exposure Across the Bottlenecks
Curtiss-Wright, Centrus Energy, and Fluor are constituents of NUKZX, which serves as the underlying index for the Range Nuclear Renaissance Index ETF (NUKZ). Together, they provide exposure to three of the most important constraints facing nuclear deployment: qualified components, enriched fuel, and experienced project execution.

Their positions demonstrate why the nuclear investment opportunity extends well beyond reactor developers and uranium miners. If nuclear deployment accelerates, the companies capable of relieving the industry’s tightest bottlenecks may capture some of the earliest and most durable revenue opportunities.

Related Research:
NUKZ Constituents Secure Key TerraPower Contracts

Investing in X-energy Without the Pre-Revenue IPO Risk

Cameco Sees Path to 20 New US Large-Scale Reactors

Looking for nuclear insights in your inbox? Subscribe here to keep a pulse on nuclear investing through our weekly research.

For more news, information, and analysis, visit the Nuclear Energy Content Hub.

vettafi.com is owned by VettaFi LLC (“VettaFi”). VettaFi is the index provider for NUKZ, for which it receives an index licensing fee. However, NUKZ is not issued, sponsored, endorsed, or sold by VettaFi. VettaFi has no obligation or liability in connection with the issuance, administration, marketing, or trading of NUKZ.

HomeEarnings AnalysisIndustrial 

SummaryCurtiss-Wright is downgraded to sell as valuation fully reflects robust fundamentals and guidance through 2028.Despite a record $4.5B backlog and raised 2026 sales, margin, and FCF guidance, CW offers no additional upside at current price levels.Q2 delivered strong 5% revenue growth, broad margin expansion, and 37% higher free cash flow, but share repurchase activity lags potential.Sales are expected to grow 8% annually through 2028, EBITDA 10%, and FCF 7%, but the current 32.2x EV/EBITDA limits further appreciation.Looking for more investing ideas like this one? Get them exclusively at The Aerospace Forum. Learn More » Getty Images

Curtiss-Wright Corporation (CW) shares have gained around 3% since my March report, materially underperforming the 15% gain for the S&P 500 over the same period and in line with my downgrade to hold. The stock nevertheless has gained more than

24.46K Followers

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

5 Alternative Energy Stocks Riding the AI Power CrunchCurtiss-Wright NYSE: CW raised its full-year 2026 earnings, revenue and free-cash-flow outlook after reporting second-quarter results that management said exceeded expectations, supported by growth across aerospace and defense and commercial markets, expanding margins and a growing order book.

Second-quarter sales rose 5% from a year earlier to $924 million, while operating income increased 12%, producing 110 basis points of operating-margin expansion. Diluted earnings per share increased 15% year over year, Chair and Chief Executive Officer Lynn Bamford said. The company generated $160 million of free cash flow during the quarter, up 37% from the prior year, with free-cash-flow conversion of 116%.

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Lower Rates Put RV Stocks Back in the Fast Lane“The successful and ongoing execution of our Pivot to Growth strategy has been the key to our quarterly performance,” Bamford said.

Orders Outpace Sales as Defense Electronics Bookings Surge New orders increased 8% in the second quarter, resulting in a book-to-bill ratio above 1.1x. Through the first half, orders rose 12%, exceeding sales growth of 9% and producing a year-to-date book-to-bill ratio above 1.2x, according to the company.

Clearway Energy’s Price Dip: 3 Reasons It’s a Signal to BuyDefense Electronics posted a record order performance, with bookings increasing nearly 50% from a year earlier in the quarter and more than 30% year to date. The segment received awards for Turret Drive Stabilization Systems for international ground vehicles, tactical communications equipment for U.S. military operations, modernization efforts for helicopters, unmanned aerial vehicles and fighter jets, as well as initial Golden Dome orders and development contracts for next-generation programs.

Chief Financial Officer Chris Farkas said the strengthening order book reflects Curtiss-Wright’s alignment with U.S. and international defense spending, as well as momentum in commercial aerospace and industrial markets. He noted that some Defense Electronics orders, including those related to the C-17 program and turret-drive systems, have multiyear characteristics.

Management also said it has seen no indication that prior timing delays in Defense Electronics orders reflect weakening demand. Bamford said the company’s strong first- and second-quarter order activity, along with a strong July and expectations for the third quarter, support the view that the delays were timing-related.

Segment Performance Reflects Aerospace, Naval and Nuclear Strength Aerospace & Industrial sales increased 12% during the quarter. Growth included higher defense sales of actuation and sensor equipment for U.S. and foreign fighter programs, as well as electromagnetic actuation equipment for ground-based mobile launcher systems. Commercial aerospace also benefited from higher original-equipment-manufacturer sales across narrow-body and wide-body platforms.

Operating income in Aerospace & Industrial rose 25%, while margin expanded 180 basis points, driven by higher revenue absorption, favorable business mix and restructuring savings. Those factors were partly offset by continued investment in development programs.

Defense Electronics sales declined 3%, in line with company expectations, as lower tactical communications revenue due to the timing of prior-year orders was partly offset by higher turret-drive revenue for international programs. The segment’s operating margin increased 120 basis points to 28%, reflecting favorable mix and cost containment despite higher research-and-development spending.

Naval & Power sales increased 7%, led by submarine-program production timing, higher naval shipyard aftermarket revenue, and growth in commercial and government nuclear programs. Segment operating income rose 12%, with margin expanding 80 basis points on higher revenue absorption.

Full-Year Guidance Raised Curtiss-Wright now expects 2026 sales to increase 8% to 9%, citing improved expectations in defense and general industrial markets. The company projects operating margin of 19.1% to 19.3%, representing expansion of 50 to 70 basis points, and forecasts diluted EPS of $15.10 to $15.40, or growth of 14% to 16%.

Aerospace & Industrial: Sales are expected to increase 8% to 10%, with operating margin of 18.5% to 18.7%. Defense Electronics: Sales are expected to rise 4% to 6%, with operating margin of 27.5% to 27.7%. Naval & Power: Sales are expected to grow 10% to 11%. Free cash flow: The company raised its outlook to a record $585 million to $605 million, including a nearly 30% year-over-year increase in capital expenditures. Farkas said third-quarter sales are expected to show modest growth from the second quarter, while operating income and margin should be roughly flat sequentially due to revenue timing, less favorable Defense Electronics mix and higher R&D investment. The company expects a record fourth-quarter revenue performance and an operating margin above 20% to finish the year.

Investment Plans Target Naval and Nuclear Opportunities The company announced an $80 million multiyear investment to expand its Cheswick, Pennsylvania, facility to support naval demand and anticipated commercial nuclear awards. The expansion began in 2025 and will be supported by internal capital investments, Maritime Industrial Base funding and state assistance.

Bamford said Curtiss-Wright has received about $95 million in industrial-base funding to date, compared with $70 million at the end of March. The funding could support increased content and potential second-source opportunities for critical U.S. Navy platforms.

In commercial nuclear, management said it expects mid- to high-teen sales growth in 2026, supported by its order book. Bamford said Curtiss-Wright continues to expect an AP1000 reactor order this year and sees opportunities tied to potential U.S. deployment of Westinghouse AP1000 reactors, as well as international projects.

The company said it plans to provide updated long-term financial targets at its next Investor Day, which is being planned for the second quarter of 2027.

About Curtiss-Wright (NYSE:CW)Curtiss-Wright Corporation NYSE: CW is a diversified, global engineering company that designs, manufactures and services highly engineered products and integrated systems for the aerospace, defense, and industrial markets. Its offerings span a range of electromechanical, motion control and flow control technologies, including flight control and actuation systems, sensors and avionics components, pumps and valves, power conversion and heat exchangers, and platform integration solutions for marine and ground systems.

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For the quarter ended June 2026, Curtiss-Wright (CW - Free Report) reported revenue of $924.01 million, up 5.4% over the same period last year. EPS came in at $3.72, compared to $3.23 in the year-ago quarter.

The reported revenue represents a surprise of -0.71% over the Zacks Consensus Estimate of $930.6 million. With the consensus EPS estimate being $3.62, the EPS surprise was +2.76%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Curtiss-Wright performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Adjusted Sales- Aerospace & Industrial: $267.77 million versus the two-analyst average estimate of $260.68 million. The reported number represents a year-over-year change of +12%.Adjusted Sales- Naval & Power: $410.26 million versus the two-analyst average estimate of $411.32 million. The reported number represents a year-over-year change of +6.7%.Adjusted Sales- Defense Electronics: $245.99 million versus $255.37 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -2.8% change.Adjusted Operating income (expense)- Aerospace & Industrial: $49.4 million versus the two-analyst average estimate of $47 million.Adjusted Operating income (expense)- Naval & Power: $71.11 million versus the two-analyst average estimate of $69.25 million.Adjusted Operating income (expense)- Defense Electronics: $68.8 million compared to the $68.45 million average estimate based on two analysts.View all Key Company Metrics for Curtiss-Wright here>>>

Shares of Curtiss-Wright have returned -1.2% over the past month versus the Zacks S&P 500 composite's +3.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

DAVIDSON, N.C.--(BUSINESS WIRE)--Curtiss-Wright Corporation (NYSE: CW) reports financial results for the second quarter ended June 30, 2026.

"Curtiss-Wright delivered strong Q2 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 FCF generation." Lynn M. Bamford, Chair & CEO

Share 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%

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.

The U.S. Department of Energy (DOE) published the approved voluntary agreement that formally establishes the Nuclear Fuel Cycle Consortium under the Defense Production Act (DPA). While the name centers on fuel production, the framework and its broad list of participants reach across the entire nuclear value chain. The move shows that building resilient domestic fuel capacity requires coordinated action from more than just miners and enrichers. There are also component suppliers, construction and site services firms, reactor developers, and utilities — all translating this policy support into tangible revenue opportunities for nuclear players.

Key Takeaways The DOE approved the Nuclear Fuel Cycle Consortium Voluntary Agreement. The structure gives participants antitrust protections to develop Plans of Action that strengthen the nuclear fuel cycle from mining through recycling. The consortium explicitly includes committees and scope for utilities and reactors, not just upstream fuel stages. Major participants include Solstice Advanced Materials (SOLS), Mirion Technologies (MIR), and Amentum (AMTM). These names highlight how the initiative draws in specialized materials, instrumentation, and construction and operations expertise. DOE Formalizes Broad Industry Collaboration Framework On July 6, the Federal Register published the approved voluntary agreement for the Nuclear Fuel Cycle Consortium. The agreement followed a public meeting, comment period, and coordination with the Department of Justice and Federal Trade Commission. It responds to the executive orders on reinvigorating the nuclear industrial base and addressing the national energy emergency.

The consortium creates a structured way for private-sector companies to share information, coordinate planning, and develop specific Plans of Action under DOE oversight. These plans can target bottlenecks in mining and milling, conversion, enrichment, fabrication and deconversion, recycling and reprocessing, and the interfaces with utilities and reactors.

To navigate potential antitrust concerns, the project is being coordinated by the DOE. By leveraging the DPA to address a national energy security emergency, the program has secured direct antitrust immunity from the Department of Justice.

Importantly, the governance model organizes committees by stage of the fuel cycle and explicitly incorporates utilities and reactors. This structure recognizes that fuel supply only creates value when it supports operating plants and new reactor deployments.

See more: Nuclear Fuel Supply Chain Updates: Centrus Secures DOE Contract

Participants Span the Entire Nuclear Ecosystem The published list of companies that have signed the voluntary agreement includes dozens of entities active at every point in the nuclear value chain:

Fuel chain names such as Cameco (CCJ), Centrus Energy (LEU), and Lightbridge Corp (LTBR). Advanced reactor developers including Oklo Inc (OKLO), NuScale Power (SMR), and NANO Nuclear (NNE). Reactor owner/operators such as Constellation Energy (CEG), Vistra Corp (VST), and Talen Energy (TLN). Supply and manufacturing companies including BWX Technologies (BWXT). The presence of supply chain and construction firms shows the initiative reaches well beyond traditional uranium miners and enrichers. Solstice Advanced Materials (SOLS) brings specialized capabilities in the uranium conversion and advanced materials segment. Mirion Technologies (MIR) supplies reactor instrumentation and radiation monitoring systems. Amentum (AMTM) contributes deep experience in DOE site operations, construction, plutonium processing infrastructure, and waste management.

These examples illustrate how a program that began with a fuel security mandate naturally pulls in the companies that design, build, instrument, and operate the facilities that turn fuel into electricity.

NUKZX Captures Balanced Exposure Across All Segments The VettaFi Nuclear Renaissance Index (NUKZX) includes many of the consortium participants and maintains meaningful weightings across the full spectrum of the industry. The index is further balanced with companies in the component manufacturing and engineering industries, such as Curtiss-Wright (CW) and Flowserve (FLS).

This diversified composition positions NUKZX to benefit as the consortium helps coordinate timelines, reduce project risk, and accelerate concrete Plans of Action. Investors gain exposure to nearer-term opportunities in fuel infrastructure and existing fleet support as well as longer-term upside from advanced reactor deployment —  without concentrating risk in any single segment of the value chain. NUKZX serves as the underlying index for the Range Nuclear Renaissance Index ETF (NUKZ).

Related Research: From Cold War Liability to Advanced Nuclear Fuel

Critical Momentum: The Nuclear Renaissance Heats Up

Nuclear Fuel Supply Chain Updates: Centrus Secures DOE Contract

Looking for nuclear insights in your inbox? Subscribe here to keep a pulse on nuclear investing through our weekly research.

For more news, information, and analysis, visit the Nuclear Energy Content Hub.

vettafi.com is owned by VettaFi LLC (“VettaFi”). VettaFi is the index provider for NUKZ, for which it receives an index licensing fee. However, NUKZ is not issued, sponsored, endorsed, or sold by VettaFi. VettaFi has no obligation or liability in connection with the issuance, administration, marketing, or trading of NUKZ.

If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider Curtiss-Wright (CW - Free Report) . This company, which is in the Zacks Aerospace - Defense Equipment industry, shows potential for another earnings beat.

When looking at the last two reports, this engineering firm has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 4.19%, on average, in the last two quarters.

For the last reported quarter, Curtiss-Wright came out with earnings of $3.48 per share versus the Zacks Consensus Estimate of $3.32 per share, representing a surprise of 4.82%. For the previous quarter, the company was expected to post earnings of $3.66 per share and it actually produced earnings of $3.79 per share, delivering a surprise of 3.55%.

Price and EPS Surprise

Thanks in part to this history, there has been a favorable change in earnings estimates for Curtiss-Wright lately. In fact, the Zacks Earnings ESP (Expected Surprise Prediction) for the stock is positive, which is a great indicator of an earnings beat, particularly when combined with its solid Zacks Rank.

Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Curtiss-Wright has an Earnings ESP of +2.26% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. When you combine this positive Earnings ESP with the stock's Zacks Rank #2 (Buy), it shows that another beat is possibly around the corner. The company's next earnings report is expected to be released on August 5, 2026.

When the Earnings ESP comes up negative, investors should note that this will reduce the predictive power of the metric. But, a negative value is not indicative of a stock's earnings miss.

Many companies end up beating the consensus EPS estimate, but that may not be the sole basis for their stocks moving higher. On the other hand, some stocks may hold their ground even if they end up missing the consensus estimate.

Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

DAVIDSON, N.C.--(BUSINESS WIRE)--Curtiss-Wright Corporation (NYSE: CW) expects to release its second quarter 2026 financial results after the close of trading on Wednesday, August 5, 2026. A webcast conference call will be held on Thursday, August 6, 2026, at 10:00 am ET for management to discuss the Company’s second quarter 2026 financial performance. Lynn M. Bamford, Chair and Chief Executive Officer, and K. Christopher Farkas, Executive Vice President and Chief Financial Officer, will host the call.

The financial press release, access to the webcast and the financial presentation will be posted in the Investor Relations section on Curtiss-Wright’s website at www.curtisswright.com/investor-relations/.

In addition, the dial-in number for domestic callers is (800) 343-5172, while international callers can dial (203) 518-9856. The conference ID code is CWQ226. For those unable to attend the live webcast, a replay will be available within the Investor Relations section on the Company’s website beginning one hour after the call takes place.

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 9,100 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.

Investors interested in Aerospace stocks should always be looking to find the best-performing companies in the group. Has Curtiss-Wright (CW - Free Report) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Aerospace peers, we might be able to answer that question.

Curtiss-Wright is one of 67 companies in the Aerospace group. The Aerospace group currently sits at #2 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Curtiss-Wright is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for CW's full-year earnings has moved 0.9% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Our latest available data shows that CW has returned about 38.4% since the start of the calendar year. Meanwhile, stocks in the Aerospace group have gained about 2.9% on average. This means that Curtiss-Wright is performing better than its sector in terms of year-to-date returns.

One other Aerospace stock that has outperformed the sector so far this year is Outdoor Holding Company (POWW - Free Report) . The stock is up 36.8% year-to-date.

For Outdoor Holding Company, the consensus EPS estimate for the current year has increased 80% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Looking more specifically, Curtiss-Wright belongs to the Aerospace - Defense Equipment industry, a group that includes 37 individual stocks and currently sits at #60 in the Zacks Industry Rank. This group has gained an average of 10.9% so far this year, so CW is performing better in this area. Outdoor Holding Company is also part of the same industry.

Investors with an interest in Aerospace stocks should continue to track Curtiss-Wright and Outdoor Holding Company. These stocks will be looking to continue their solid performance.

The fund outperformed the Russell Midcap Growth Index during the first quarter that ended March 31, 2026. Vertiv Holdings Co. benefited from a sharp acceleration of growth in its order book and continued ability to win market share from legacy players in the cooling space. Curtiss-Wright Corp. reported a strong quarter with solid results and steady backlog growth, and we maintained our position as we view the company as a durable compounder.

DAVIDSON, N.C.--(BUSINESS WIRE)---- $CW--Curtiss-Wright Corporation (NYSE: CW) today announced that it has entered into a new credit agreement with a group of nine banks increasing the size of its revolving credit facility to $1 billion, while also expanding the accordion feature to $500 million. The new replacement credit facility has a five-year term set to mature in May 2031. The prior credit facility which was set to expire in May 2027 has been terminated. “We are pleased to announce the successful.

On May 20, 2026, Curtiss-Wright Corp CW shares rose 3.1% to a current price of $726.65. Over the past week, the stock has seen a decline of 3.2%, while in the last month, it has decreased by 0.5%. However, the year-to-date performance remains strong with a notable increase of 31.9%, and the stock has surged by 73.7% over the past year. The 52-week range for CW shares has been between $412.92 and $760.72.

GF Value™ verdict: The current price of $726.65 is 86.6% above the GF Value™ estimate of $389.44, indicating significant overvaluation.GF Score™: CW has a GF Score™ of 83/100, which is considered strong and suggests solid long-term potential.Notable signal: Insider activity has shown that insiders sold $4.9M in stock over the last three months with no buying activity reported. Is CW Overvalued or Undervalued? Curtiss-Wright Corp's current price of $726.65 is substantially higher than the GF Value™ of $389.44, indicating that the stock is significantly overvalued by 86.6%. This discrepancy highlights a lack of margin of safety for potential investors, as the market price greatly exceeds the intrinsic value determined by GuruFocus' methodology. The GF Valuation label describes CW as significantly overvalued, which raises concerns about the sustainability of its current price levels. If the stock price does not align with the underlying fundamentals, there is a risk of a price correction in the future.

GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates. Given the current valuation, potential investors may want to approach with caution, as the risk of a decline exists in an environment where the stock is trading far above its calculated fair value.

How Does CW's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 53.2x 24.9x Forward P/E 47.7x — The current P/E (TTM) of 53.2x is 114% above its 5-year median P/E of 24.9x, indicating that CW is trading above its historical valuation levels. This analysis aligns with the GF Value™ verdict of overvaluation, suggesting that the premium being paid for CW shares may not be justified based on historical earnings performance.

What Does CW's GF Score™ Tell Us? Metric Rating GF Score™ 83 Financial Strength 7/10 Profitability 9/10 Growth 9/10 Valuation 1/10 Momentum 9/10 The GF Score™ of 83/100 indicates that Curtiss-Wright has a strong overall assessment, particularly in profitability and growth, which are rated 9/10. However, the valuation score is notably low at 1/10, reflecting the significant overvaluation as per GF Value™. This disparity suggests that while the company has strong operational metrics, its current market price does not reflect these strengths appropriately.

What Are Insiders Doing with CW Stock? Over the last three months, insider activity at Curtiss-Wright has shown a significant selling trend, with insiders selling $4.9M worth of shares and no reported buying activity. This pattern may suggest that those closest to the company lack confidence in the current valuation or future price appreciation, which could be a red flag for potential investors.

The absence of insider buying, coupled with substantial selling, can indicate that insiders may believe the stock is overvalued at current prices, further corroborating the concerns raised by the GF Value™ assessment.

What This Means for Investors Based on the GF Value™ analysis, Curtiss-Wright Corp CW is deemed overvalued at its current price of $726.65. The significant gap between the market price and the GF Value™ suggests caution for potential investors, as the stock may be susceptible to price corrections in the future.

For the complete analysis, visit the Curtiss-Wright Corp CW stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.

Frequently Asked Questions What is CW's GF Score™?

CW has a GF Score™ of 83/100, indicating a strong overall assessment based on key aspects of financial strength, profitability, growth, valuation, and momentum.

Is CW overvalued or undervalued?

CW is considered overvalued, with a current price of $726.65 that is 86.6% higher than the GF Value™ of $389.44.

What is CW's P/E ratio?

The P/E ratio (TTM) for CW is 53.2x, which is significantly above its 5-year median P/E of 24.9x, indicating that the stock is trading at a premium compared to its historical valuation.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Curtiss-Wright Corporation (CW) Presents at Wolfe Research 19th Annual Global Transportation & Industrials Conference Transcript

Key Takeaways Curtiss-Wright is benefiting from submarine programs and rising commercial aerospace demand.CW posted 20.7% Naval & Power sales growth and 12.3% Aerospace & Industrial growth in Q1.KTOS is expanding in unmanned systems and hypersonics through new defense contracts and orders. With geopolitical tensions and national security concerns continuing to escalate worldwide, defense spending is increasing globally, putting companies such as Kratos Defense & Security Solutions, Inc. (KTOS - Free Report) and Curtiss-Wright (CW - Free Report) in the spotlight. Both companies maintain strong exposure to the U.S. defense market and generate a substantial share of their business from government and military-related programs.

The two companies are expected to benefit from ongoing growth in U.S. and allied military expenditures, especially as defense agencies prioritize modernization initiatives and next-generation technologies.

Kratos Defense is leveraging demand for unmanned aerial systems, missile defense, and space-focused capabilities, while Curtiss-Wright continues to capitalize on its portfolio of specialized components, electronic systems, and engineered technologies used across defense and aerospace applications. Their strategically important offerings position both companies to capture long-term opportunities tied to evolving military requirements and advanced defense infrastructure.

Let's compare the stocks' fundamentals to determine which one is a better investment option at present.

Factors Acting in Favor of KTOS StockKratos is the primary unmanned aerial target drone system provider for the U.S. Air Force, Navy, Army and several allied defense agencies, which has led to multiple recent contracts and partnerships that are expanding its presence in the global UAS market. In March 2026, the company received an approximately $7 million contract for a Counter-UAS System designed to detect, track and classify threats, including low-profile unmanned aerial systems, cruise missiles and other aerial systems.

Apart from manufacturing unmanned aerial drone systems, Kratos Defense focuses on expanding its product portfolio with other products, especially in hypersonics. The company currently holds orders for multiple Erinyes and DarkFury hypersonic vehicles for upcoming and anticipated hypersonic missions.

Factors Acting in Favor of CW StockIncreased demand for submarine programs, backed by solid budget funding provided by the U.S. administration, has been benefiting Curtiss-Wright, which offers products that support nuclear propulsion systems on naval vessels. During the first quarter of 2026, sales in its Naval & Power segment increased 20.7% year over year, with higher revenues supporting next-generation submarine development serving as a key growth catalyst.

Steadily improving global air traffic over the past few quarters has proved beneficial for Curtiss-Wright, which supplies critical components and systems for both commercial and defense aerospace markets. As airlines and aircraft manufacturers ramp up production and maintenance activities, demand for Curtiss-Wright’s engineered products, such as flight control actuators, sensors and valves, is rising. Evidently, sales from its Aerospace & Industrial segment grew 12.3% year over year in the first quarter of 2026, partially driven by higher revenues from the commercial aerospace market, on account of increased demand and higher OEM sales of sensor products and surface treatment services on narrowbody and widebody jets.

How Do Zacks Estimates Compare for KTOS & CW?The Zacks Consensus Estimate for Kratos Defense’s 2026 earnings per share (EPS) indicates an increase of 32.73% year over year.
 

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for Curtiss-Wright’s 2026 EPS indicates an increase of 14.59% year over year.

Image Source: Zacks Investment Research

Valuation for KTOS & CWKTOS shares trade at a forward 12-month Price/Sales (P/S F12M) of 5.64X compared with CW’s 6.97X.

KTOS & CW’s Return on Equity (ROE)ROE measures how efficiently a company is utilizing its shareholders’ funds to generate profits. Kratos Defense’s current ROE is 4.3% compared with Curtiss-Wright’s 20%.

KTOS & CW’s Price PerformanceIn the past six months, shares of Curtiss-Wright have risen 29.9%, while those of Kratos Defense have declined 25.9%, compared to the industry’s growth of 15.9%.

Image Source: Zacks Investment Research

KTOS or CW: Which Is a Better Choice Now?Kratos Defense continues to strengthen its position in the unmanned aerial systems market through new defense contracts and partnerships with U.S. and allied military agencies. The company is also expanding beyond drone systems by growing its hypersonics portfolio, supported by increasing demand for advanced mission technologies. Curtiss-Wright is benefiting from strong demand tied to submarine modernization programs and rising naval defense investments, which continue to support growth across its defense-related operations. The company is also seeing increased momentum in commercial aerospace as higher aircraft production and maintenance activity drive demand for its specialized aerospace components and systems.

Our current preference is Curtiss-Wright, given its current price performance and strong ROE than Kratos Defense. CW has a Zacks Rank #2 (Buy) and KTOS carries a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Investors interested in stocks from the Aerospace - Defense Equipment sector have probably already heard of Airbus SE - Unsponsored ADR (EADSY) and Curtiss-Wright (CW). But which of these two stocks presents investors with the better value opportunity right now?

A month has gone by since the last earnings report for Curtiss-Wright (CW - Free Report) . Shares have added about 2.6% in that time frame, underperforming the S&P 500.

Will the recent positive trend continue leading up to its next earnings release, or is Curtiss-Wright due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.

Curtiss-Wright Q1 Earnings Outpace Estimates, Revenues Increase Y/Y

Curtiss-Wright reported adjusted earnings per share (EPS) of $3.48, which beat the Zacks Consensus Estimate of $3.32 by 4.8%. The bottom line also came in higher than the year-ago quarter’s earnings of $2.82 per share.

The company reported GAAP earnings of $3.46 per share, up 29.1% from the prior-year period.

CW’s Operational PerformanceThe company’s net sales of $913.7 million increased 13.4% year over year. The top line beat the Zacks Consensus Estimate of $867 million by 5.4%.

The company reported an adjusted operating income of $160 million, up 19.4% year over year. Its adjusted operating margin was 17.6%, up 100 basis points (bps).

Curtiss-Wright’s total backlog at the end of the first quarter was $4.3 billion.

New orders of $1.2 billion rose 16% year over year, driven by the strong demand in the company’s naval defense, commercial nuclear and industrial end markets.

CW’s Segmental PerformanceAerospace & Industrial: Sales in this segment improved 12% year over year to $255 million.

The adjusted operating income increased 24% to $39 million. Also, the unit’s adjusted operating margin expanded 150 bps to 15.4%.

Defense Electronics: Sales in this segment improved 5% year over year to $256 million.

The unit’s adjusted operating income improved 7% to $72 million. The adjusted operating margin expanded 60 bps to 28.1%.

Naval & Power: Sales in this segment increased 21% year over year to $402 million.

The segment's adjusted operating income increased 33% to $60 million. The adjusted operating margin expanded 140 bps to 14.9%.

Financial Position of CWCW’s cash and cash equivalents as of March 31, 2026, were $343.4 million compared with $371.3 million as of Dec. 31, 2025.

The long-term debt was $757.6 million compared with $757.9 million as of Dec. 31, 2025.

The net cash outflow from operating activities amounted to $6 million during the first three months of 2026 compared with $39 million in the prior-year period.

The free cash outflow as of March 31, 2026, was $17 million compared with $55 million a year ago.

2026 Guidance of CWCW expects to generate adjusted earnings in the band of $14.90-$15.30 per share. The Zacks Consensus Estimate for earnings is pegged at $15.08 per share, which lies below the midpoint of the company’s guided range.

Curtiss-Wright expects to generate sales in the range of $3.74-$3.80 billion. The Zacks Consensus Estimate for sales is pegged at $3.75 billion, which lies below the midpoint of the company’s guidance.

The company expects to generate free cash flow in the band of $580-$600 million.

How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a downward trend in estimates review.

VGM ScoresAt this time, Curtiss-Wright has a nice Growth Score of B, though it is lagging a bit on the Momentum Score front with a C. However, the stock was allocated a score of F on the value side, putting it in the lowest quintile for this investment strategy.

Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Curtiss-Wright has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months.

Performance of an Industry PlayerCurtiss-Wright is part of the Zacks Aerospace - Defense Equipment industry. Over the past month, ATI (ATI - Free Report) , a stock from the same industry, has gained 11.3%. The company reported its results for the quarter ended March 2026 more than a month ago.

ATI reported revenues of $1.15 billion in the last reported quarter, representing a year-over-year change of +0.6%. EPS of $1.00 for the same period compares with $0.72 a year ago.

ATI is expected to post earnings of $0.99 per share for the current quarter, representing a year-over-year change of +33.8%. Over the last 30 days, the Zacks Consensus Estimate remained unchanged.

The overall direction and magnitude of estimate revisions translate into a Zacks Rank #2 (Buy) for ATI. Also, the stock has a VGM Score of C.

Curtiss-Wright (CW - Free Report) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.

The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.

Individual investors often find it hard to make decisions based on rating upgrades by Wall Street analysts, since these are mostly driven by subjective factors that are hard to see and measure in real time. In these situations, the Zacks rating system comes in handy because of the power of a changing earnings picture in determining near-term stock price movements.

As such, the Zacks rating upgrade for Curtiss-Wright is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price.

Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. That's partly because of the influence of institutional investors that use earnings and earnings estimates for calculating the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their transaction of large amounts of shares then leads to price movement for the stock.

Fundamentally speaking, rising earnings estimates and the consequent rating upgrade for Curtiss-Wright imply an improvement in the company's underlying business. Investors should show their appreciation for this improving business trend by pushing the stock higher.

Harnessing the Power of Earnings Estimate RevisionsAs empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.

The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>> .

Earnings Estimate Revisions for Curtiss-WrightThis engineering firm is expected to earn $15.16 per share for the fiscal year ending December 2026, which represents no year-over-year change.

Analysts have been steadily raising their estimates for Curtiss-Wright. Over the past three months, the Zacks Consensus Estimate for the company has increased 0.9%.

Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of "buy" and "sell" ratings for its entire universe of more than 4,000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a "Strong Buy" rating and the next 15% get a "Buy" rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.

You can learn more about the Zacks Rank here >>>

The upgrade of Curtiss-Wright to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.