Jun 2026 (Q2 FY26) — Aug 6, 2026
Curtiss-Wright Q2 FY26 — Strong Performance, Raised Guidance, and Record Backlog
Read the full callCurtiss Wright (CW) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Curtiss Wright earnings: last reported Thu, 6 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 924 | +5.4% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 19.3 | +1.5 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 151 | +24.9% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
10 of 11 judged targets kept · 38 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| FY26 total Aerospace & Defense markets sales growth | 5% to 7% | Dec 2025 | Wrapping up our aerospace and defense market outlook, we now expect total to 9%. | Revised Up |
| First AP1000 reactor coolant pump order | by the end of 2026 | Dec 2024 | Overall, we continue to expect an AP1000 quarter this year. | On Track |
| 3-Year Investor Day general industrial market growth target | low single digits growth | Mar 2026 | We're not going to meet our 3-year Investor Day targets of low single digits in this market. But it's nice to think that we will -- we're feeling good that '27, '28 is going to be a better position. | Missed |
1 of CURTISS WRIGHT CORP's 49 targets was missed. See which ones, and which are quietly gone. The 3 above are the free sample; 46 more targets are in the full ledger.
Claimed
- Sales grew 5% year-over-year to $924 million, reflecting solid growth across A&D and Commercial markets.
- Operating income increased 12% year-over-year, resulting in 110 basis points of operating margin expansion.
- Diluted earnings per share increased 15% year-over-year, ahead of expectations.
- Generated $160 million of free cash flow, a 37% year-on-year improvement, with a strong 116% cash conversion rate.
- New orders increased 8% with an overall book-to-bill in excess of 1.1x for the quarter, and 1.2x year-to-date.
Qualified
- Defense Electronics sales were down 3% year-over-year due to the timing of prior year orders for tactical communications equipment.
- Naval and Power segment orders were down year-over-year in Q2, principally due to the timing of Naval Defense orders on submarine programs.
- Supply chain pressures have increased in the first half of FY26, particularly for chips, electronics, and some rare earth materials.
Price
$497.11 −1.04% · −$5.21
Performance −8.8% 1Y
1Y: $545.17 on 17 Oct 2025 → $497.11. High $792.77 (6 Jul 2026), low $497.11 (19 Oct 2026).
- Previous close
- $502.32
- 52-week range
- $497.11 – $792.77
- One year
- −11.42%
Overview
- Symbol
- CW
- Sector
- Industrials
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
10 of 11 judged targets kept · 38 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| FY26 total Aerospace & Defense markets sales growth | 5% to 7% | Dec 2025 | Wrapping up our aerospace and defense market outlook, we now expect total to 9%. | Revised Up |
| First AP1000 reactor coolant pump order | by the end of 2026 | Dec 2024 | Overall, we continue to expect an AP1000 quarter this year. | On Track |
| 3-Year Investor Day general industrial market growth target | low single digits growth | Mar 2026 | We're not going to meet our 3-year Investor Day targets of low single digits in this market. But it's nice to think that we will -- we're feeling good that '27, '28 is going to be a better position. | Missed |
Claimed
- Sales grew 5% year-over-year to $924 million, reflecting solid growth across A&D and Commercial markets.
- Operating income increased 12% year-over-year, resulting in 110 basis points of operating margin expansion.
- Diluted earnings per share increased 15% year-over-year, ahead of expectations.
- Generated $160 million of free cash flow, a 37% year-on-year improvement, with a strong 116% cash conversion rate.
- New orders increased 8% with an overall book-to-bill in excess of 1.1x for the quarter, and 1.2x year-to-date.
Qualified
- Defense Electronics sales were down 3% year-over-year due to the timing of prior year orders for tactical communications equipment.
- Naval and Power segment orders were down year-over-year in Q2, principally due to the timing of Naval Defense orders on submarine programs.
- Supply chain pressures have increased in the first half of FY26, particularly for chips, electronics, and some rare earth materials.
The full ledger
Open CURTISS WRIGHT CORP’s full ledger
A free account opens 5 company ledgers a month. All 49 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — May 7, 2026
Curtiss-Wright Q1 FY26 — Broad-based beat across all three segments drives raised full-year outlook
Read the full callDec 2025 (Q4 FY25) — Feb 12, 2026
Curtiss-Wright Q4 FY25 — Record Performance and Strong Outlook
Read the full callEvery analysed call
Curtiss Wright earnings calls (CW)
Financials
What the filings say
Net profit, year on year: +25% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 799 | 824 | 806 | 877 | 869 | 947 | 914 | 924 |
| Operating profit | 145 | 155 | 129 | 156 | 166 | 182 | 160 | 179 |
| Operating margin | 18.1% | 18.8% | 16.0% | 17.8% | 19.1% | 19.2% | 17.5% | 19.3% |
| Interest | 11 | 12 | 10 | 11 | 10 | 12 | 10 | 10 |
| Profit before tax | 144 | 153 | 125 | 157 | 161 | 177 | 158 | 194 |
| Tax rate | 22.6% | 23.1% | 19.0% | 22.8% | 22.5% | 22.6% | 18.8% | 22.2% |
| Net profit | 111 | 118 | 101 | 121 | 125 | 137 | 128 | 151 |
| EPS ($ per share) | 2.91 | — | 2.69 | 3.21 | 3.34 | — | 3.47 | 4.09 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 49 | 49 | 49 | 49 | 49 | 49 | 49 | 49 |
| Reserves | 2,191 | 2,497 | 2,670 | 2,909 | 3,163 | 3,488 | 3,861 | 4,311 |
| Total liabilities | 1,725 | 1,990 | 2,234 | 2,277 | 2,467 | 2,293 | 2,536 | 2,688 |
| Fixed assets | 375 | 386 | 378 | 360 | 343 | 333 | 339 | 382 |
| Total assets | 3,255 | 3,764 | 4,021 | 4,104 | 4,448 | 4,621 | 4,986 | 5,221 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 336 | 421 | 261 | 388 | 295 | 448 | 544 | 643 |
| Cash from investing | -256 | -240 | -533 | -42 | -326 | -36 | -283 | -90 |
| Cash from financing | -264 | -68 | 82 | -369 | 129 | -273 | -271 | -578 |
| Net cash flow | -199 | 115 | -193 | -27 | 86 | 150 | -22 | -14 |
| Capital expenditure | -53 | -70 | -47 | -41 | -38 | -45 | -61 | -90 |
| Free cash flow | 283 | 352 | 214 | 347 | 257 | 403 | 483 | 554 |
CW revenue by segment
Defense Electronics shrank from 30% to 27% of revenue over the last two years.
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Naval Power | 41% | 42% | 41% | 44% | 42% | 44% | 44% | 44% | +6.7% |
| Aerospace Industrial | 29% | 30% | 28% | 27% | 29% | 28% | — | 29% | +12.0% |
| Defense Electronics | 31% | 28% | 31% | 29% | 29% | 28% | 28% | 27% | -2.9% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
CW operating KPIs by quarter
| KPI | Dec 2024 Q4 FY24 | Jun 2025 Q2 FY25 | Sep 2025 Q3 FY25 | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|
| Book-to-bill ratio | 1.1 ratioGrowth in our order book was exceptionally strong in the fourth quarter, up 37% year-over-year, reflecting a 1.1x book-to-bill.Source: earnings call transcript | 1.1 ratio+We also experienced strong demand in the second quarter as new orders of $1 billion resulted in an overall book-to-bill in excess of 1.1x.Source: earnings call transcript | 1.1 ratioSo broadly speaking, good quarter, 1.1x book-to-bill.Source: earnings call transcript | <1.2 ratioRegarding our order book, new orders increased 18% in the fourth quarter, reflecting nearly 1.2x book to bill and were driven by continued solid demands within our naval, defense and commercial nuclear markets.Source: earnings call transcript | 1.3 ratioRegarding our order book, new orders increased 15%, reflecting a 1.3x book-to-bill ratio, driven by mid-teens growth in each of our 3 segments.Source: earnings call transcript | — |
| Book-to-bill ratio A&D markets | — | 1.2 ratioAs a result, book-to-bill across our A&D markets was 1.2x.Source: earnings call transcript | 1 ratioWe had a 1x book-to-bill in aerospace and defense, and we had a 1.2x in commercial.Source: earnings call transcript | — | — | -16.7% |
| Backlog | — | $3.8B+Overall, the second quarter growth in orders builds on our already strong backlog, which is now up 12% year-to-date, reaching a new record in excess of $3.8 billion.Source: earnings call transcript | $3.9BWe're at a record backlog right now at $3.9 billion.Source: earnings call transcript | — | <$4.3BOverall, based on the healthy growth in Curtiss-Wright's order book, we reached a new record of nearly $4.3 billion, which provides us with great visibility and continued confidence in our future top line growth.Source: earnings call transcript | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Insider filings
67 filings between Nov 11, 2025 and Aug 28, 2026.
Open market
decisions to buy or sellPurchases
$149.0K
1 purchase by 1 insider
Sales
$30.11M
31 sales by 8 insiders
55% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 25
- Award — granted as compensation
- 7
- Option exercise — converted options into shares
Also filed: 3 gifts.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Bamford Lynn M | — | $15.95M | Jun 12, 2026 |
| Farkas K Christopher | — | $8.24M | Mar 18, 2026 |
| Rayment Kevin | — | $2.26M | Mar 17, 2026 |
| Watts John C | — | $1.92M | Aug 27, 2026 |
| Ogilby Gary A | — | $1.22M | Jun 9, 2026 |
| Freda Robert F | — | $357.1K | Mar 17, 2026 |
| Lyash Jeffrey J. | $149.0K | — | Aug 10, 2026 |
| McDonald George P. | — | $102.4K | Mar 17, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Aug 28, 2026 | Wyche Larry D Director | Sale | 100 | $59.7K |
| Aug 27, 2026 | Watts John C EVP & Chief Growth Officer | Sale | 1,035 | $641.1K |
| Aug 10, 2026 | Lyash Jeffrey J. Director | Purchase | 209 | $149.0K |
| Jul 6, 2026 | Rayment Kevin Executive VP and COO | Award | 26 | $16.5K |
| Jul 6, 2026 | McDonald George P. Executive VP and Corporate Sec | Award | 25 | $15.9K |
| Jul 6, 2026 | Watts John C EVP & Chief Growth Officer | Award | 9 | $5.7K |
| Jul 6, 2026 | Bamford Lynn M Chair and CEO | Award | 17 | $10.8K |
| Jul 6, 2026 | Farkas K Christopher Executive VP and CFO | Award | 21 | $13.3K |
| Jun 15, 2026 | Watts John C EVP & Chief Growth Officer | Sale 10b5-1 plan | 200 | $154.1K |
| Jun 12, 2026 | Bamford Lynn M Chair and CEO | Sale 10b5-1 plan | 2,500 | $1.90M |
| Jun 9, 2026 | Ogilby Gary A Senior VP & Corp Controller | Sale 10b5-1 plan | 399 | $288.1K |
| Jun 9, 2026 | Bamford Lynn M Chair and CEO | Sale 10b5-1 plan | 2,500 | $1.80M |
| Jun 1, 2026 | Wallace Peter C Director | Award | 221 | $159.1K |
| May 29, 2026 | MINOR GLENDA J Director | Award | 20 | $15.0K |
| May 27, 2026 | Watts John C EVP & Chief Growth Officer | Sale 10b5-1 plan | 220 | $165.6K |
| May 12, 2026 | MINOR GLENDA J Director | Award | 221 | $162.5K |
| May 7, 2026 | Lyash Jeffrey J. Director | Award | 48 | $0 |
| Mar 18, 2026 | Ogilby Gary A Senior VP & Corp Controller | Sale 10b5-1 plan | 252 | $173.7K |
| Mar 18, 2026 | Farkas K Christopher Executive VP and CFO | Sale 10b5-1 plan | 1,265 | $872.5K |
| Mar 17, 2026 | Freda Robert F Senior VP & Treasurer | Sale | 140 | $95.0K |
| Mar 17, 2026 | Ogilby Gary A Senior VP & Corp Controller | Sale | 148 | $100.4K |
| Mar 17, 2026 | McDonald George P. Executive VP and Corporate Sec | Sale | 151 | $102.4K |
| Mar 17, 2026 | Watts John C EVP & Chief Growth Officer | Sale | 220 | $149.2K |
| Mar 17, 2026 | Bamford Lynn M Chair and CEO | Sale | 3,225 | $2.18M |
| Mar 17, 2026 | Farkas K Christopher Executive VP and CFO | Sale | 918 | $621.9K |
| Mar 17, 2026 | Rayment Kevin Executive VP and COO | Sale | 907 | $614.4K |
| Mar 16, 2026 | Watts John C EVP & Chief Growth Officer | Option exercise | 512 | $0 |
| Mar 16, 2026 | Freda Robert F Senior VP & Treasurer | Option exercise | 296 | $0 |
| Mar 16, 2026 | McDonald George P. Executive VP and Corporate Sec | Option exercise | 350 | $0 |
| Mar 16, 2026 | Ogilby Gary A Senior VP & Corp Controller | Option exercise | 400 | $0 |
| Mar 16, 2026 | Rayment Kevin Executive VP and COO | Option exercise | 2,504 | $0 |
| Mar 16, 2026 | Farkas K Christopher Executive VP and CFO | Option exercise | 2,183 | $0 |
| Mar 16, 2026 | Bamford Lynn M Chair and CEO | Option exercise | 7,667 | $0 |
| Feb 18, 2026 | Farkas K Christopher Executive VP and CFO | Sale 10b5-1 plan | 3,105 | $2.16M |
| Feb 5, 2026 | Ogilby Gary A Senior VP & Corp Controller | Sale 10b5-1 plan | 625 | $390.2K |
| Feb 4, 2026 | Moraco Anthony J Director | Award | 256 | $160.0K |
| Feb 4, 2026 | Wyche Larry D Director | Award | 128 | $80.0K |
| Feb 4, 2026 | Watts John C EVP & Chief Growth Officer | Sale | 652 | $407.9K |
| Feb 4, 2026 | Freda Robert F Senior VP & Treasurer | Sale | 418 | $262.1K |
| Feb 4, 2026 | Rayment Kevin Executive VP and COO | Sale | 2,634 | $1.65M |
| Feb 4, 2026 | Farkas K Christopher Executive VP and CFO | Sale | 2,665 | $1.67M |
| Feb 4, 2026 | Bamford Lynn M Chair and CEO | Sale | 9,327 | $5.84M |
| Feb 4, 2026 | Ogilby Gary A Senior VP & Corp Controller | Sale 10b5-1 plan | 435 | $272.6K |
| Feb 3, 2026 | Ogilby Gary A Senior VP & Corp Controller | Award 10b5-1 plan | 1,060 | $714.8K |
| Feb 3, 2026 | Watts John C EVP & Chief Growth Officer | Award | 1,354 | $913.0K |
| Feb 3, 2026 | Freda Robert F Senior VP & Treasurer | Award | 784 | $528.7K |
| Feb 3, 2026 | Rayment Kevin Executive VP and COO | Award | 6,618 | $4.46M |
| Feb 3, 2026 | Farkas K Christopher Executive VP and CFO | Award | 5,770 | $3.89M |
| Feb 3, 2026 | Bamford Lynn M Chair and CEO | Award | 20,268 | $13.67M |
| Jan 20, 2026 | FLATT DEAN M Director | Award | 218 | $144.0K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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