Curtiss-Wright Corporation (CW) Earnings
Curtiss-Wright Corporation is expected to report next earnings on August 5, 2026 (in NaN days), with a consensus EPS estimate of $3.56. CW has beaten EPS estimates in 11 of its last 12 reported quarters (average surprise +7.5% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $3.32 | $3.48 | +4.8% | $914M | +5.8% |
| Feb 11, 2026 | $3.66 | $3.79 | +3.6% | $947M | +10.9% |
| Nov 5, 2025 | $3.30 | $3.40 | +3.0% | $869M | -0.1% |
| May 7, 2025 | $2.38 | $2.82 | +18.5% | $806M | +5.0% |
| Feb 12, 2025 | $3.12 | $3.27 | +4.8% | $824M | +4.7% |
| Oct 30, 2024 | $2.70 | $2.97 | +10.0% | $799M | +5.5% |
| May 1, 2024 | $1.74 | $1.99 | +14.4% | $713M | +0.0% |
| Feb 14, 2024 | $2.92 | $3.16 | +8.2% | $786M | +5.7% |
| Nov 1, 2023 | $2.38 | $2.54 | +6.7% | $724M | +6.1% |
| Aug 2, 2023 | $1.96 | $2.15 | +9.7% | $704M | +8.6% |
| May 3, 2023 | $1.39 | $1.53 | +10.1% | $631M | -1.8% |
| Feb 21, 2023 | $2.91 | $2.92 | +0.3% | $758M | +0.7% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 7, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
• 2026 started highly productively with strong first quarter performance exceeding expectations, all segments had higher revenue and operating income growth. • Focus on innovation with incremental R&D investments. • Strong alignment with industry growth factors in A&D, commercial nuclear, and industrial markets. • Order book new orders increased 16% with 1.3 times book-to-bill ratio, each segment had mid-teens growth. • Defense electronic segment made strides past delays, naval and power had strong demand for nuclear propulsion and commercial nuclear aftermarket, A&I segment saw improvement in industrial vehicles order book.
Guidance
• Raised full-year 2026 outlook, expects total sales to grow 7% to 8%, operating income growth to outpace sales growth with operating margin increase of 40 to 60 basis points to 19 to 19.2%, diluted EPS to grow 13% to 16%, free cash flow raised to $580 to $600 million. • Second quarter 2026 expected to have mid-single digits sales growth and high single digits plus operating income growth relative to Q2 2025, with improved profitability in A&I and Naval Empower segments, Defense Electronics segment in line with last year's Q2 results.
Segment performance
Aerospace and Industrial: Overall sales increased 12%, operating income grew 24% with 150 basis points of operating margin expansion. Defense Electronics: Overall sales increased 5%, delivered a strong first quarter operating margin of 28.1% with 60 basis points year-over-year expansion. Naval and Power: Sales growth of 21% exceeded expectations, operating income grew 33% with 140 basis points of operating margin expansion.
Risks & headwinds
• Supply chain constraints, including in semiconductor industry with potential impact on business. • Government budget delays and related timing issues affecting certain market segments. • Uncertainties with forward-looking statements and associated risks and uncertainties as detailed with the SEC.
Analyst Q&A
Q: Christine Lewag with Morgan Stanley asked about M&A areas and margins with commercial terms and new players.
A: Lynn Bamford mentioned defense electronics as a focus for M&A, Matt Lowrie talked about financial filters for acquisitions, and Lynn discussed margins and working with nontraditional primes.
Q: Greg Dahlberg on for Miles Walton asked about X Energy prototyping and industrial vehicles order book.
A: Lynn mentioned X Energy prototyping is a revenue driver, and Nathan Jones was told industrial vehicles order book is improving with optimism for 2027 growth.
Q: Bradley Oyster for John Godin asked about defense aerospace demand signals and commercial nuclear AP-1000 timeline.
A: Lynn talked about defense aerospace platform demand and John Godin was told AP-1000 revenue timing is uncertain tied to Westinghouse.
Q: Louis de Palma asked about next-gen platforms and naval nuclear strength.
A: Lynn said positioned in next-gen platforms with content secured and pursued, and naval nuclear strength is broad-based across various components.
Q: Jan Engelbrecht asked about commercial nuclear franchise margin and cockpit voice recorders.
A: Lynn discussed SMR margin uplift potential and cockpit voice recorders certification timeline.
Q: Scott Deutschel asked about semiconductor constraints and market share.
A: Lynn said team is managing semiconductor constraints well and focused on taking market share through technology and value delivery.