01—Abstract
Summary
Summary of the 10-Q filed August 6, 2026. Cited figures are marked; the original filing is the authoritative source.
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 milliona 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%b 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.
02—Key points
Key Highlights
- Total net sales for the six months ended June 30, 2026, increased 9% year-over-year to $1.84 billion.
- Net earnings for the six months ended June 30, 2026, increased 26% year-over-year to $279.4 million.
- Operating income increased by 14% to $178.7 million in Q2 2026 and by 18% to $338.2 million in the first half of 2026.
- Aerospace & Industrial segment sales grew 12% for both the quarter and the first half, driven by commercial aerospace and defense markets.
- Naval & Power segment sales increased 7% for the quarter and 13% for the first half, supported by naval defense and power & process markets.
- Cash provided by operating activities significantly improved, increasing $78 million year-over-year for the first half of 2026.
- The company announced an increase in its quarterly dividend to $0.26 per share beginning in the second quarter of 2026.
03—Questions
Frequently Asked Questions
What were the main drivers of the revenue growth in the first half of 2026?
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.
How did the company's profitability perform in the second quarter of 2026?
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.
What is the company's outlook on liquidity and capital resources?
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.
Has the company returned capital to shareholders recently?
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.
04—Continue