Curtiss-Wright (CW) Investor presentation summary

Portfolio and growth strategy

• 2026E revenue guidance of ~$3.8B, with sales mix of 70% aerospace and defense and 30% commercial; workforce of ~9,300.

• Backlog reached $4.6B as of September 30, 2026; strategy emphasizes margin expansion, targeted investment, pipeline growth, cash conversion and disciplined capital allocation.

• Cross-over technologies transfer solutions between defense and commercial markets, including actuation, flight data recorders, surface treatments and vehicle electrification.

Market opportunities

• 2026E defense sales are 57% of total; positions span >400 platforms and >3,000 programs, including major naval platforms and the F-35.

• Commercial aerospace is 13% of 2026E sales, with a 90% OEM / 10% aftermarket mix and exposure to narrowbody and widebody production.

• AP1000 opportunity includes 12+ potential European reactors and 48+ reactor coolant pumps; stated content is $160M+ per reactor, with an order expected in 2026.

• Commercial nuclear revenue potential is 2x by end-2028 and $1.5B+ annually by mid-next decade, based on stated build, aftermarket and SMR assumptions.

Financial outlook and performance

• 2026E sales guidance is $3.795B–$3.840B, up 8–10%; aerospace and defense and commercial markets are each forecast to grow 8–10%.

• 2026E operating income guidance is $731M–$744M, up 12–14%; operating margin is 19.2–19.4%, diluted EPS is $15.40–$15.60, up 16–18%.

• 2026E free cash flow guidance is $595M–$615M, with ~105% conversion; 2024–2026E average FCF conversion is 110%.

• 2024–2026E progress: ~9% organic revenue CAGR, 14% operating income CAGR, ~19% operating margin, +190 bps since 2023, and ~18% EPS CAGR.