Curtiss-Wright Corp
F:CWT
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Curtiss-Wright Corp
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Curtiss-Wright Corp
Curtiss-Wright makes specialized engineered equipment and components for aerospace, defense, nuclear power, and industrial customers. It sells parts and systems such as aircraft controls, motion and flow control equipment, sensors, valves, pumps, and rugged electronics that are built for demanding environments. Its customers include military contractors, commercial aircraft makers, power plant operators, and industrial manufacturers that need reliable hardware and long-life service support. The company makes money by designing and selling these products, then supporting them with repair, replacement parts, testing, and aftermarket services. A large part of its business comes from long product programs and installed equipment, which can create repeat revenue over time when customers need maintenance, upgrades, or certified replacements. Curtiss-Wright stands out because it sits deep in the supply chain for critical systems where failure is not acceptable. Its products are often embedded in platforms that stay in service for years, so customers value technical expertise, certification, and dependable support more than low-cost standard parts. That makes it a niche industrial supplier with close ties to defense, aerospace, and nuclear end markets.
Curtiss-Wright makes specialized engineered equipment and components for aerospace, defense, nuclear power, and industrial customers. It sells parts and systems such as aircraft controls, motion and flow control equipment, sensors, valves, pumps, and rugged electronics that are built for demanding environments. Its customers include military contractors, commercial aircraft makers, power plant operators, and industrial manufacturers that need reliable hardware and long-life service support.
The company makes money by designing and selling these products, then supporting them with repair, replacement parts, testing, and aftermarket services. A large part of its business comes from long product programs and installed equipment, which can create repeat revenue over time when customers need maintenance, upgrades, or certified replacements.
Curtiss-Wright stands out because it sits deep in the supply chain for critical systems where failure is not acceptable. Its products are often embedded in platforms that stay in service for years, so customers value technical expertise, certification, and dependable support more than low-cost standard parts. That makes it a niche industrial supplier with close ties to defense, aerospace, and nuclear end markets.
Beat: Curtiss-Wright said first-quarter sales of $914 million rose 13% year over year, with operating income growing faster than sales and margin expanding 100 basis points to 17.6%.
Demand: Orders increased 15% and book-to-bill was 1.3x, pushing backlog to a record nearly $4.3 billion and giving management more confidence in the full year.
Guidance raised: The company lifted its 2026 outlook for sales, operating margin, EPS, and free cash flow, and now expects operating margin of 19% to 19.2%.
Defense strength: Management pointed to stronger defense ordering after prior budget delays, with notable demand in submarine programs, aircraft modernization, and tactical systems.
Nuclear momentum: Commercial nuclear remained a key growth engine, helped by aftermarket demand, small modular reactor activity, and expectations for an AP1000 order later this year.
Margins and M&A: Management said it remains focused on margin expansion through operations, R&D, and mix, while still seeing acquisition opportunities despite elevated multiples and scarce quality assets.