Curtiss-Wright Corporation

Q2 FY26Aerospace and Defense

Curtiss-Wright Corporation Q2 FY26 Results — Earnings Call Analysis

Q2 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹748

Market cap₹27.6K Cr

P/E55.0

Published29 May 2026

What the Q2 FY26 call signalled

3 of 4 strong

RevenueRank 3

MarginRank 2

CapexYes

Order bookYes

Not discussed on this call: fundraise.

The short version

- Total sales expected to grow 7% to 8% in 2026, driven by defense and commercial nuclear markets (Page 3). - Full year 2026 diluted EPS expected to grow 13% to 16%, ranging from $14.90 to $15.30 (Page 4).

From Curtiss-Wright Corporation's Q2 FY26 earnings-call transcript · updated 29 May 2026.

Revenue & Sales Performance

Rank 3

Total sales expected to grow 7% to 8% in 2026, driven by defense and commercial nuclear markets (Page 3).
Aerospace Defense to grow 11% to 13%, benefitting from fighter jet programs and defense electronics demand (Page 3).
Naval Defense sales projected to grow 6% to 8%, driven by submarine production and aircraft carrier programs (Page 3).
Commercial Aerospace sales forecasted to increase 10% to 12% with OEM production ramp-ups (Page 3).
Power & Process sales expected to increase 13% to 15%, mainly from commercial nuclear growth and SMRs (Page 3).
General Industrial sales anticipated to be flat in 2026 but optimistic for growth starting 2027-28 (Pages 3 and 9).
Defense Electronics sales forecasted to grow 4% to 6%, despite timing delays in tactical communications (Page 3).
Strong book-to-bill ratios (1.3x to 1.5x) reflect order momentum supporting growth (Pages 2, 9, 10).
Expectation of increased defense spending including potential >$1 trillion budgets over next years (Page 10).

Profitability & Margins

Full year 2026 diluted EPS expected to grow 13% to 16%, ranging from $14.90 to $15.30 (Page 4).
Operating income growth forecasted at 9% to 12% overall, with operating margin improving to 19% to 19.2% (Page 4).
Aerospace & Industrial segment expects 13% to 15% growth in operating income and margin expansion of 100 to 120 basis points to 18.4%–18.6% (Page 4).
Naval and Power segment projected to grow sales 9% to 11%, with operating income growth of 13% to 15% and margin expansion of 40-60 basis points (Page 4).
Defense Electronics segment sales growth expected at 4% to 6%, with operating income growth in the same range, targeting record operating margin levels (Page 4).
Free cash flow guidance raised to $580 million to $600 million, up 5% to 8% (Page 4).
Strong order book and backlog support confidence in achieving record financial results (Pages 1, 4).

See what Curtiss-Wright Corporation said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

Yes

In 2026, Curtiss-Wright is ramping up investments in people, systems, and capacity to increase throughput in naval businesses and prepare for future commercial nuclear awards.
The company is focused on efficient capital deployment and maintaining a healthy balance sheet while strategically pursuing acquisitions to accelerate top and bottom line growth.
Investments are being made to advance technology, particularly in defense electronics and critical aerospace technologies that can serve both commercial and military markets.
R&D investments are accelerating across the portfolio to maintain strong competitive positions.
Curtiss-Wright continues to pursue acquisitions in defense electronics and commercial nuclear segments, balancing strategic and financial filters to ensure strong ROI and accretive growth.
The company is investing in technologies for next-generation programs, including next-gen air superiority, tactical aircraft modernization, and SMR nuclear designs.

Fundraising & Capital Structure

Curtiss-Wright maintains a very healthy balance sheet with strong free cash flow.
The company has deployed $2.5 billion towards acquisitions since pivoting to growth.
Leverage is approaching record lows, and there is a fully untapped revolving credit facility with $3 billion borrowing capacity.
The focus is on efficient capital deployment with strategic acquisitions as the top priority to accelerate growth.
No specific mention of new fundraising through debt or equity in the provided transcript.
Capital allocation strategy balances acquisitions, organic investment, and returning capital to shareholders.
The company is disciplined in capital allocation, with no indication of imminent plans for new debt or equity issuance.

See what Curtiss-Wright Corporation said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

Yes

Curtiss-Wright reported a record order book of nearly $4.3 billion, providing strong visibility and confidence in future top-line growth (Page 2).
Naval and Power segment achieved a 1.5x book-to-bill ratio with strong demand for nuclear propulsion equipment and commercial nuclear aftermarket products (Page 2).
Defense Electronics segment had its best order quarter since Q3 2024, with a Q1 order book up 18% year-over-year and a book-to-bill near 1.1x; April orders improved 46% year-over-year (Page 8).
Industrial vehicles market showed two strong quarters of bookings, indicating improved demand momentum (Page 9).
The company anticipates an order for reactor coolant pumps in 2026 but timing remains uncertain (Page 11).
Strong pipeline exists in defense electronics and naval businesses, with increased customer demand and multiple awards for modernization and next-gen platforms (Pages 2, 5, 6).

How does Curtiss-Wright Corporation rank vs peers in Aerospace and Defense?

Pro feature

ThisCurtiss-Wright Corporation

Rev 3Mar 2

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Frequently Asked Questions

What were Curtiss-Wright Corporation Q2 FY26 results?

What is Curtiss-Wright Corporation share price analysis?

Curtiss-Wright Corporation currently shows a below-average growth signal. The stock trades at a P/E of 55.0 with a market cap of $27,622. Investors should review the full earnings analysis for detailed insights.

Is Curtiss-Wright Corporation planning capital expenditure?

- In 2026, Curtiss-Wright is ramping up investments in people, systems, and capacity to increase throughput in naval businesses and prepare for future commercial nuclear awards.

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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.