Curtiss-Wright Q2 Earnings Beat, Raises Full-Year Guidance on Strong Defense Demand
CW sits 56% above its 52-week low of $464.91.
Summary
Curtiss-Wright reported Q2 EPS of $4.07, beating estimates, and raised full-year guidance. Sales grew 5% to $924 million, with operating margin expanding to 19.3%. A $4.5 billion backlog and a new $1 billion credit facility underscore strong positioning.
Key Events · Earnings and Guidance · CW
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Q2 Earnings Beat
Diluted EPS of $4.07 beat consensus by $0.10, with net earnings of $151.2 million on sales of $924 million, up 5% year-over-year.
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Full-Year Guidance Raised
Management raised full-year guidance, citing strong demand across defense and commercial aerospace markets and improved operating leverage.
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Record Backlog
Total backlog reached $4.5 billion, with approximately 90% expected to convert to revenue over the next 36 months, providing multi-year visibility.
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New $1B Credit Facility
Entered into a new $1 billion revolving credit facility with a $500 million accordion, replacing the prior agreement and extending maturity to May 2031.
Analysis · CW · Technology
Curtiss-Wright delivered a strong Q2, with adjusted EPS of $4.07 beating consensus estimates on 5% sales growth. Operating margin expanded 150 bps to 19.3%, driven by favorable mix and overhead absorption. The company raised full-year guidance, signaling confidence in sustained defense and commercial aerospace demand. A $4.5 billion backlog, with 90% expected to convert to revenue over the next 36 months, provides exceptional visibility. The new $1 billion credit facility, upsized from the prior agreement, adds financial flexibility for acquisitions or internal growth. These results reinforce the investment thesis of a well-managed defense supplier executing in a favorable spending environment.
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At the time of this filing, CW was trading at $723.08 on NYSE in the Technology sector, with a market capitalization of approximately $26.7B. The 52-week trading range was $464.91 to $808.16. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.