10-QPeriod: Q2 FY2026

CURTISS WRIGHT CORP Quarterly Report for Q2 Ended Jun 30, 2026

Filed August 6, 2026For Securities:CW

Summary

CURTISS WRIGHT CORP (CW) reported a strong second quarter and first half of 2026, demonstrating significant year-over-year growth in both revenue and net earnings. Total net sales increased by 5% to $924 million for the quarter and by 9% to $1.84 billion for the six months ended June 30, 2026. This growth was driven by robust performance across its key segments, particularly Aerospace & Industrial and Naval & Power, which saw double-digit sales increases. Profitability also saw substantial improvement, with operating income up 14% for the quarter and 18% for the six months. Net earnings grew by an impressive 25% and 26% respectively for the periods, reflecting effective cost management, favorable product mix, and benefits from restructuring initiatives. The company's financial health is further supported by a strong increase in cash provided by operating activities and a healthy cash balance, indicating continued operational strength and strategic execution.

Key Highlights

  • 1Total net sales for the six months ended June 30, 2026, increased 9% year-over-year to $1.84 billion.
  • 2Net earnings for the six months ended June 30, 2026, increased 26% year-over-year to $279.4 million.
  • 3Operating income increased by 14% to $178.7 million in Q2 2026 and by 18% to $338.2 million in the first half of 2026.
  • 4Aerospace & Industrial segment sales grew 12% for both the quarter and the first half, driven by commercial aerospace and defense markets.
  • 5Naval & Power segment sales increased 7% for the quarter and 13% for the first half, supported by naval defense and power & process markets.
  • 6Cash provided by operating activities significantly improved, increasing $78 million year-over-year for the first half of 2026.
  • 7The company announced an increase in its quarterly dividend to $0.26 per share beginning in the second quarter of 2026.

Frequently Asked Questions

Revenue growth in the first half of 2026 was primarily driven by strong performance in the Aerospace & Industrial segment (up 12%) and the Naval & Power segment (up 13%). The Aerospace & Defense markets, particularly naval defense, commercial aerospace, and aerospace defense, along with the commercial power & process market, were key contributors to this expansion.

In the second quarter of 2026, operating income increased by 14% to $178.7 million, and net earnings grew by 25% to $151.2 million, compared to the same period in 2025. This improvement was attributed to favorable overhead absorption on higher sales, a beneficial product mix, and cost containment initiatives across its segments.

Curtiss-Wright's liquidity position remains strong. Cash provided by operating activities significantly increased by $78 million in the first half of 2026. The company also has $973 million in unused credit available under its credit facility, which, combined with existing cash and cash equivalents, is considered sufficient to meet its short-term and long-term capital needs.

Yes, the company has been actively returning capital to shareholders. For the six months ended June 30, 2026, it repurchased $29 million of its common stock. Additionally, it increased its quarterly dividend to $0.26 per share starting in the second quarter of 2026.