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Curtiss-Wright Corporation, Page 1

             

NEWS RELEASE

CURTISS-WRIGHT REPORTS THIRD QUARTER 2025 FINANCIAL RESULTS AND RAISES FULL-YEAR 2025 GUIDANCE

DAVIDSON, N.C. – November 5, 2025 – Curtiss-Wright Corporation (NYSE: CW) reports financial results for the third quarter ended September 30, 2025.

Third Quarter 2025 Highlights:

•Reported sales of $869 million, up 9%, operating income of $166 million, operating margin of 19.1%, and diluted earnings per share (EPS) of $3.31;

•Adjusted operating income of $170 million, up 14%;

•Adjusted operating margin of 19.6%, up 90 basis points;

•Adjusted diluted EPS of $3.40, up 14%;

•New orders of $927 million, up 8%, reflected a 1.1x book-to-bill;

•Backlog of $3.9 billion, up 14% year-to-date; and

•Free cash flow (FCF) of $176 million, generating 137% FCF conversion.

Raised Full-Year 2025 Adjusted Financial Outlook:

•Sales guidance increased to new range of 10% to 11% growth (previously 9% to 10%), which continues to reflect growth in the majority of Curtiss-Wright's end markets;

•Operating income guidance increased to new range of 16% to 19% growth (previously 15% to 18%);

•Operating margin guidance range of 18.5% to 18.7%, up 100 to 120 basis points compared with the prior year;

•Diluted EPS guidance increased to new range of $12.95 to $13.20, now up 19% to 21% (previously $12.70 to $13.00, up 16% to 19%); and

•FCF guidance range of $520 to $535 million, which continues to reflect greater than 105% FCF conversion.

"In the third quarter, Curtiss-Wright continued to deliver strong results under our Pivot to Growth strategy, with higher revenues and growth in operating income across all three segments,” said Lynn M. Bamford, Chair and CEO of Curtiss-Wright Corporation. "We achieved adjusted operating margin of 19.6%, mid-teens growth in diluted EPS and improved free cash flow generation. We also demonstrated solid order growth of 8%, yielding an overall book-to-bill of 1.1x. Based on our strong year-to-date performance, we have raised our full-year guidance for sales, operating income and diluted EPS."

"In addition, we recently expanded our 2025 share repurchase program, targeting a new record in annual share repurchases of more than $450 million. This return of capital to shareholders reflects the Company's confident outlook and demonstrates our commitment to leveraging our strong balance sheet in support of disciplined capital allocation."

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Curtiss-Wright Corporation, Page 2

Third Quarter 2025 Operating Results

(In millions)			Q3-2025			Q3-2024			Change
Reported
Sales			$	869		$	799		9		%
Operating income			$	166		$	145		15		%
Operating margin			19.1		%	18.1		%	100 bps
Adjusted (1)
Sales			$	869		$	799		9		%
Operating income			$	170		$	149		14		%
Operating margin			19.6		%	18.7		%	90 bps

(1)Reconciliations of Reported to Adjusted operating results are available in the Appendix.

•Sales of $869 million increased 9% compared with the prior year;

•Total A&D market sales increased 9%, while total Commercial market sales increased 8%;

•In our A&D markets, growth was principally driven by higher submarine revenues in naval defense, the timing of tactical communications revenues in ground defense, and higher OEM sales in the commercial aerospace market;

•In our Commercial markets, strong growth in the power & process market was driven by higher organic sales of commercial nuclear solutions and the contribution from our prior-year acquisition, while sales in the general industrial market were flat; and

•Adjusted operating income of $170 million increased 14%, while Adjusted operating margin increased 90 basis points to 19.6%. This performance was driven by favorable overhead absorption on higher revenues in all three segments, the benefits of the Company's ongoing operational excellence initiatives, and favorable mix in the Aerospace & Industrial and Defense Electronics segments, which were partially offset by higher investments in research and development.

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Curtiss-Wright Corporation, Page 3

Third Quarter 2025 Segment Performance

Aerospace & Industrial

(In millions)			Q3-2025			Q3-2024			Change
Reported
Sales			$	248		$	229		8		%
Operating income			$	45		$	37		21		%
Operating margin			18.3		%	16.4		%	190 bps
Adjusted (1)
Sales			$	248		$	229		8		%
Operating income			$	46		$	39		17		%
Operating margin			18.6		%	17.2		%	140 bps

(1)Note: Reconciliations of Reported to Adjusted operating results are available in the Appendix.

•Sales of $248 million, up $19 million, or 8%;

•Growth in our defense markets reflected increased sales of sensors products and surface treatment services supporting various domestic and international fighter jet programs, in addition to higher sales of electromechanical actuation equipment in the ground defense market;

•Commercial aerospace market revenue growth reflected strong demand and higher OEM sales of actuation equipment, sensors products and surface treatment services on narrowbody and widebody platforms;

•General industrial market revenue was flat, as higher sales of surface treatment services were offset by lower global off-highway and specialty industrial vehicle sales; and

•Adjusted operating income was $46 million, up 17% from the prior year, while Adjusted operating margin increased 140 basis points to 18.6%, driven by favorable absorption on higher revenues, the benefits of the Company's restructuring initiatives, and a favorable mix of products.

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Curtiss-Wright Corporation, Page 4

Defense Electronics

(In millions)			Q3-2025			Q3-2024			Change
Reported
Sales			$	253		$	243		4		%
Operating income			$	74		$	64		16		%
Operating margin			29.2		%	26.2		%	300 bps
Adjusted (1)
Sales			$	253		$	243		4		%
Operating income			$	74		$	64		15		%
Operating margin			29.2		%	26.5		%	270 bps

(1)Note: Reconciliations of Reported to Adjusted operating results are available in the Appendix.

•Sales of $253 million, up $10 million, or 4%;

•Aerospace defense market revenue growth reflected increased sales of embedded computing and flight test instrumentation equipment to various international customers, partially offset by the timing of revenues on various domestic helicopter programs;

•Ground defense market revenues decreased slightly overall but were ahead of our expectations, driven by the timing of tactical battlefield communications equipment sales;

•Higher revenue in the naval defense market reflected increased sales of embedded computing equipment supporting various domestic and international programs;

•Commercial aerospace market revenues reflected increased demand and higher sales of flight data recorder technology to OEM customers; and

•Adjusted operating income was $74 million, up 15% from the prior year, while Adjusted operating margin increased 270 basis points to 29.2%, primarily due to favorable absorption and mix of products on higher revenues and the benefits of the Company's operational excellence initiatives, partially offset by higher investment in research and development.

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Curtiss-Wright Corporation, Page 5

Naval & Power

(In millions)			Q3-2025			Q3-2024			Change
Reported
Sales			$	368		$	327		12		%
Operating income			$	58		$	53		9		%
Operating margin			15.7		%	16.2		%	(50 bps)
Adjusted (1)
Sales			$	368		$	327		12		%
Operating income			$	61		$	54		14		%
Operating margin			16.6		%	16.4		%	20 bps

(1)Note: Reconciliations of Reported to Adjusted operating results are available in the Appendix.

•Sales of $368 million, up $41 million, or 12%;

•Revenue growth in the naval defense market was driven by the timing of production on the Columbia-class and Virginia-class submarine programs, in addition to higher sales of aftermarket fleet services and aircraft handling systems equipment to international customers;

•Lower revenue in the aerospace defense market reflected the timing of sales of arresting systems equipment supporting various international customers;

•Higher power & process market revenues mainly reflected the contribution from our prior-year acquisition of I&C Solutions (formerly known as Ultra Energy), as well as higher organic sales of commercial nuclear solutions supporting the development of next-generation advanced reactors and the maintenance of existing operating reactors; and

•Adjusted operating income was $61 million, up 14% from the prior year, while Adjusted operating margin increased 20 basis points to 16.6%, as favorable absorption on higher revenues and the benefits of the Company's operational excellence initiatives were partially offset by higher investment in research and development.

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Curtiss-Wright Corporation, Page 6

Free Cash Flow

(In millions)			Q3-2025			Q3-2024			Change
Net cash provided by operating activities			$	193		$	177		9		%
Capital expenditures			(17)			(15)			(16		%)
Free cash flow			$	176		$	163		8		%

•Free cash flow of $176 million increased $13 million as higher cash earnings and lower U.S. tax payments were partially offset by higher working capital.

New Orders and Backlog

•New orders of $927 million increased 8% compared with the prior year and generated an overall book-to-bill of approximately 1.1x, principally driven by continued strong demand in the commercial aerospace and commercial nuclear markets; and

•Backlog of $3.9 billion, up 14% from December 31, 2024, reflecting higher demand in both our A&D and Commercial markets.

Share Repurchase and Dividends

•During the third quarter, the Company repurchased 581,775 shares of its common stock for approximately $290 million and remains on track to repurchase a record total of more than $450 million in shares in 2025; and

•The Company declared a quarterly dividend of $0.24 a share.

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Curtiss-Wright Corporation, Page 7

Full-Year 2025 Guidance

The Company is updating its full-year 2025 Adjusted financial guidance(1) as follows:

($ in millions, except EPS)			2025 Adjusted Non-GAAP Guidance (Prior)			2025 Adjusted Non-GAAP Guidance (Current)			Change vs 2024 Adjusted (Current)
Total Sales			$3,390 - $3,435			$3,420 - $3,455			Up 10 - 11%
Operating Income			$626 - $642			$634 - $647			Up 16 - 19%
Operating Margin			18.5% - 18.7%			18.5% - 18.7%			Up 100 - 120 bps
Diluted EPS			$12.70 - $13.00			$12.95 - $13.20			Up 19 - 21%
Free Cash Flow(2)			$520 - $535			$520 - $535			Up 8 - 11%

(1)Reconciliations of Reported to Adjusted 2024 operating results and 2025 financial guidance are available in the Appendix and exclude first-year purchase accounting costs associated with prior-year acquisitions and costs associated with the Company's 2024 Restructuring Program.

(2)2025 Free Cash Flow guidance includes higher capital expenditures supporting growth and efficiency (now reflecting a nearly $25 million year-over-year increase compared with 2024 results), the timing of prior-year record customer advances and a $15 million current-year increase due to a reduction in tax payments driven by the recent signing of the H.R. 1 - "One Big Beautiful Bill Act."

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A more detailed breakdown of the Company’s 2025 financial guidance by segment and by market, as well as all reconciliations of Reported GAAP amounts to Adjusted non-GAAP amounts, can be found in the accompanying schedules. Historical financial results are available in the Investor Relations section of Curtiss-Wright’s website.

Conference Call & Webcast Information

The Company will host a conference call to discuss its third quarter 2025 financial results and updates to 2025 guidance at 10:00 a.m. ET on Thursday, November 6, 2025. A live webcast of the call and the accompanying financial presentation, as well as a webcast replay of the call, will be made available on the internet by visiting the Investor Relations section of the Company’s website at www.curtisswright.com.

(Tables to Follow)

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Curtiss-Wright Corporation, Page 8

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (UNAUDITED)
($'s in thousands, except per share data)
			Three Months Ended												Nine Months Ended
			September 30,												September 30,
			2025						2024						2025						2024
Product sales			$	739,094					$	684,216					$	2,164,750					$	1,941,327
Service sales			130,076						114,702						386,641						355,549
Total net sales			869,170						798,918						2,551,391						2,296,876
Cost of product sales			470,677						434,370						1,392,020						1,252,773
Cost of service sales			71,023						66,285						213,280						207,984
Total cost of sales			541,700						500,655						1,605,300						1,460,757
Gross profit			327,470						298,263						946,091						836,119
Research and development expenses			23,407						20,734						69,734						65,866
Selling expenses			40,559						37,311						122,248						109,202
General and administrative expenses			96,449						92,035						299,549						281,092
Restructuring expenses			804						3,280						2,797						6,198
Operating income			166,251						144,903						451,763						373,761
Interest expense			10,484						11,408						31,151						33,194
Other income, net			5,386						10,126						22,398						28,294
Earnings before income taxes			161,153						143,621						443,010						368,861
Provision for income taxes			(36,321)						(32,461)						(95,780)						(81,735)
Net earnings			$	124,832					$	111,160					$	347,230					$	287,126
Basic earnings per share			$	3.34					$	2.91					$	9.24					$	7.51
Diluted earnings per share			$	3.31					$	2.89					$	9.19					$	7.47
Dividends per share			$	0.24					$	0.21					$	0.69					$	0.62
Weighted-average shares outstanding:
Basic			37,430						38,208						37,582						38,245
Diluted			37,663						38,451						37,786						38,451

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Curtiss-Wright Corporation, Page 9

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
($'s in thousands, except par value)
			September 30,						December 31,
			2025						2024
Assets
Current assets:
Cash and cash equivalents			$	225,427					$	385,042
Receivables, net			976,885						835,037
Inventories, net			636,883						541,442
Other current assets			87,931						88,073
Total current assets			1,927,126						1,849,594
Property, plant, and equipment, net			364,188						339,118
Goodwill			1,692,772						1,675,718
Other intangible assets, net			550,202						596,831
Operating lease right-of-use assets, net			185,443						169,350
Prepaid pension asset			321,679						299,130
Other assets			60,622						55,963
Total assets			$	5,102,032					$	4,985,704
Liabilities
Current liabilities:
Current portion of long-term and short-term debt			$	—					$	90,000
Accounts payable			270,333						247,185
Accrued expenses			227,622						219,054
Deferred revenue			503,583						459,421
Other current liabilities			99,675						80,288
Total current liabilities			1,101,213						1,095,948
Long-term debt			968,632						958,949
Deferred tax liabilities, net			145,081						140,659
Accrued pension and other postretirement benefit costs			73,763						67,413
Long-term operating lease liability			164,764						148,175
Other liabilities			119,098						124,761
Total liabilities			$	2,572,551					$	2,535,905
Stockholders' equity
Common stock, $1 par value			$	49,187					$	49,187
Additional paid in capital			160,420						147,940
Retained earnings			4,182,422						3,861,073
Accumulated other comprehensive loss			(185,928)						(243,225)
Less: cost of treasury stock			(1,676,620)						(1,365,176)
Total stockholders' equity			$	2,529,481					$	2,449,799
Total liabilities and stockholders' equity			$	5,102,032					$	4,985,704

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Curtiss-Wright Corporation, Page 10

Use and Definitions of Non-GAAP Financial Information (Unaudited)

The Corporation supplements its financial information determined under U.S. generally accepted accounting principles (GAAP) with certain non-GAAP financial information. Curtiss-Wright believes that these Adjusted (non-GAAP) measures provide investors with improved transparency in order to better measure Curtiss-Wright’s ongoing operating and financial performance and provide more relevant comparisons of our key financial metrics to our peers. These non-GAAP measures should not be considered in isolation or as a substitute for the related GAAP measures, and other companies may define such measures differently. Curtiss-Wright encourages investors to review its financial statements and publicly filed reports in their entirety and not to rely on any single financial measure. Reconciliations of “Reported” GAAP amounts to “Adjusted” non-GAAP amounts are furnished within this release.

The following definitions are provided:

Adjusted Sales, Operating Income, Operating Margin, Net Earnings and Diluted EPS

These Adjusted financials are defined as Reported Operating Income, Operating Margin, Net Earnings and Diluted Earnings per Share under GAAP excluding: (i) the impact of first year purchase accounting costs associated with acquisitions, specifically one-time inventory step-up, backlog amortization, deferred revenue adjustments, transaction costs, and gains/losses on equity securities held for investment purposes; and (ii) costs associated with the Company's 2024 Restructuring Program, as applicable.

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Curtiss-Wright Corporation, Page 11

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES
RECONCILIATION OF AS REPORTED TO ADJUSTED (UNAUDITED)
($'s in thousands)
			Three Months Ended																		Three Months Ended
			September 30, 2025																		September 30, 2024																		% Change
			As Reported						Adjustments						Adjusted						As Reported						Adjustments						Adjusted						As Reported						Adjusted
Sales:
Aerospace & Industrial			$	247,985					$	—					$	247,985					$	228,659					$	—					$	228,659					8		%				8		%
Defense Electronics			253,159						—						253,159						243,029						—						243,029						4		%				4		%
Naval & Power			368,026						—						368,026						327,230						—						327,230						12		%				12		%
Total sales			$	869,170					$	—					$	869,170					$	798,918					$	—					$	798,918					9		%				9		%
Operating income (expense):
Aerospace & Industrial(2)			$	45,439					$	570					$	46,009					$	37,435					$	1,926					$	39,361					21		%				17		%
Defense Electronics(2)			73,957						—						73,957						$	63,639					819						64,458						16		%				15		%
Naval & Power(1)(2)			57,721						3,532						61,253						53,039						759						53,798						9		%				14		%
Total segments			$	177,117					$	4,102					$	181,219					$	154,113					$	3,504					$	157,617					15		%				15		%
Corporate and other(2)			(10,866)						20						(10,846)						(9,210)						660						(8,550)						(18)		%				(27)		%
Total operating income			$	166,251					$	4,122					$	170,373					$	144,903					$	4,164					$	149,067					15		%				14		%
Operating margins:			As Reported												Adjusted						As Reported												Adjusted						As Reported						Adjusted
Aerospace & Industrial			18.3		%										18.6		%				16.4		%										17.2		%				190 bps						140 bps
Defense Electronics			29.2		%										29.2		%				26.2		%										26.5		%				300 bps						270 bps
Naval & Power			15.7		%										16.6		%				16.2		%										16.4		%				(50 bps)						20 bps
Total Curtiss-Wright			19.1		%										19.6		%				18.1		%										18.7		%				100 bps						90 bps
Segment margins			20.4		%										20.8		%				19.3		%										19.7		%				110 bps						110 bps
(1) Excludes first year purchase accounting adjustments in both the current and prior year periods.
(2) Excludes costs associated with the Company's 2024 Restructuring Program in both the current and prior year periods.

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Curtiss-Wright Corporation, Page 12

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES
RECONCILIATION OF AS REPORTED TO ADJUSTED (UNAUDITED)
($'s in thousands)
			Nine Months Ended																		Nine Months Ended
			September 30, 2025																		September 30, 2024																		% Change
			As Reported						Adjustments						Adjusted						As Reported						Adjustments						Adjusted						As Reported						Adjusted
Sales:
Aerospace & Industrial			$	714,369					$	—					$	714,369					$	681,216					$	—					$	681,216					5		%				5		%
Defense Electronics			751,334						—						751,334						683,231						—						683,231						10		%				10		%
Naval & Power			1,085,688						—						1,085,688						932,429						—						932,429						16		%				16		%
Total sales			$	2,551,391					$	—					$	2,551,391					$	2,296,876					$	—					$	2,296,876					11		%				11		%
Operating income (expense):
Aerospace & Industrial(2)			$	114,367					$	2,917					$	117,284					$	100,147					$	4,546					$	104,693					14		%				12		%
Defense Electronics(2)			209,239						19						209,258						169,964						1,342						171,306						23		%				22		%
Naval & Power (1)(2)			160,000						9,734						169,734						134,513						1,101						135,614						19		%				25		%
Total segments			$	483,606					$	12,670					$	496,276					$	404,624					$	6,989					$	411,613					20		%				21		%
Corporate and other(2)			(31,843)						(8)						(31,851)						(30,863)						1,624						(29,239)						(3)		%				(9)		%
Total operating income			$	451,763					$	12,662					$	464,425					$	373,761					$	8,613					$	382,374					21		%				21		%
Operating margins:			As Reported												Adjusted						As Reported												Adjusted						As Reported						Adjusted
Aerospace & Industrial			16.0		%										16.4		%				14.7		%										15.4		%				130 bps						100 bps
Defense Electronics			27.8		%										27.9		%				24.9		%										25.1		%				290 bps						280 bps
Naval & Power			14.7		%										15.6		%				14.4		%										14.5		%				30 bps						110 bps
Total Curtiss-Wright			17.7		%										18.2		%				16.3		%										16.6		%				140 bps						160 bps
Segment margins			19.0		%										19.5		%				17.6		%										17.9		%				140 bps						160 bps
(1) Excludes first year purchase accounting adjustments in both the current and prior year periods.
(2) Excludes costs associated with the Company's 2024 Restructuring Program in both the current and prior year periods.

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Curtiss-Wright Corporation, Page 13

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES
SALES BY END MARKET (UNAUDITED)
($'s in thousands)
						Three Months Ended																		Three Months Ended
						September 30, 2025																		September 30, 2024																		% Change
						As Reported						Adjustments						Adjusted Sales						As Reported						Adjustments						Adjusted Sales						Change in As Reported Sales			Change in Adjusted Sales
Aerospace & Defense markets:
Aerospace Defense						$	161,162					$	—					$	161,162					$	158,980					$	—					$	158,980					1		%	1		%
Ground Defense						96,789						—						96,789						92,973						—						92,973						4		%	4		%
Naval Defense						245,906						—						245,906						217,510						—						217,510						13		%	13		%
Commercial Aerospace						113,856						—						113,856						96,677						—						96,677						18		%	18		%
Total Aerospace & Defense						$	617,713					$	—					$	617,713					$	566,140					$	—					$	566,140					9		%	9		%
Commercial markets:
Power & Process						$	149,900					$	—					$	149,900					$	131,376					$	—					$	131,376					14		%	14		%
General Industrial						101,557						—						101,557						101,402						—						101,402						—		%	—		%
Total Commercial						$	251,457					$	—					$	251,457					$	232,778					$	—					$	232,778					8		%	8		%
Total Curtiss-Wright						$	869,170					$	—					$	869,170					$	798,918					$	—					$	798,918					9		%	9		%
						Nine Months Ended																		Nine Months Ended
						September 30, 2025																		September 30, 2024																		% Change
						As Reported						Adjustments						Adjusted Sales						As Reported						Adjustments						Adjusted Sales						Change in As Reported Sales			Change in Adjusted Sales
Aerospace & Defense markets:
Aerospace Defense						$	480,471					—						$	480,471					$	445,158					$	—					$	445,158					8		%	8		%
Ground Defense						291,568						—						291,568						268,672						—						268,672						9		%	9		%
Naval Defense						707,078						—						707,078						605,004						—						605,004						17		%	17		%
Commercial Aerospace						310,051						—						310,051						279,768						—						279,768						11		%	11		%
Total Aerospace & Defense						$	1,789,168					—						$	1,789,168					$	1,598,602					$	—					$	1,598,602					12		%	12		%
Commercial markets:
Power & Process						$	456,307					—						$	456,307					$	394,016					$	—					$	394,016					16		%	16		%
General Industrial						305,916						—						305,916						304,258						—						304,258						1		%	1		%
Total Commercial						$	762,223					—						$	762,223					$	698,274					$	—					$	698,274					9		%	9		%
Total Curtiss-Wright						$	2,551,391					—						$	2,551,391					$	2,296,876					$	—					$	2,296,876					11		%	11		%

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Curtiss-Wright Corporation, Page 14

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES
RECONCILIATION OF AS REPORTED TO ADJUSTED DILUTED EARNINGS PER SHARE (UNAUDITED)
			Three Months Ended												Nine Months Ended
			September 30,												September 30,
			2025						2024						2025						2024
Diluted earnings per share - As Reported			$	3.31					$	2.89					$	9.19					$	7.47
First year purchase accounting adjustments			0.07						0.02						0.20						0.02
Restructuring costs			0.02						0.06						0.06						0.15
Diluted earnings per share - Adjusted (1)			$	3.40					$	2.97					$	9.45					$	7.64
(1) All adjustments are presented net of income taxes.

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Curtiss-Wright Corporation, Page 15

Organic Sales and Organic Operating Income

The Corporation discloses organic sales and organic operating income because the Corporation believes it provides investors with insight as to the Company’s ongoing business performance. Organic sales and organic operating income are defined as sales and operating income, excluding contributions from acquisitions and results of operations from divested businesses or product lines during the last twelve months, costs associated with the Company's 2024 Restructuring Program, and foreign currency fluctuations.

			Three Months Ended
			September 30,
			2025 vs. 2024
			Aerospace & Industrial												Defense Electronics												Naval & Power												Total Curtiss-Wright
			Sales						Operating income						Sales						Operating income						Sales						Operating income						Sales						Operating income
As Reported			8%						21%						4%						16%						12%						9%						9%						15%
Less: Acquisitions			0%						0%						0%						0%						(4%)						7%						(3%)						2%
Restructuring			0%						(3%)						0%						(1%)						0%						0%						0%						(2%)
Foreign Currency			0%						(1%)						0%						0%						0%						0%						0%						0%
Organic			8%						17%						4%						15%						8%						16%						6%						15%
			Nine Months Ended
			September 30,
			2025 vs. 2024
			Aerospace & Industrial												Defense Electronics												Naval & Power												Total Curtiss-Wright
			Sales						Operating income						Sales						Operating income						Sales						Operating income						Sales						Operating income
As Reported			5%						14%						10%						23%						16%						19%						11%						21%
Less: Acquisitions			0%						0%						0%						0%						(6%)						4%						(2%)						1%
Restructuring			0%						(2%)						0%						(1%)						0%						0%						0%						(1%)
Foreign Currency			(1%)						(3%)						0%						(1%)						0%						0%						(1%)						(1%)
Organic			4%						9%						10%						21%						10%						23%						8%						20%

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Curtiss-Wright Corporation, Page 16

Free Cash Flow and Free Cash Flow Conversion

The Corporation discloses free cash flow because it measures cash flow available for investing and financing activities. Free cash flow represents cash available to repay outstanding debt, invest in the business, acquire businesses, return capital to shareholders and make other strategic investments. Free cash flow is defined as net cash provided by operating activities less capital expenditures. The Corporation discloses free cash flow conversion because it measures the proportion of net earnings converted into free cash flow and is defined as free cash flow divided by adjusted net earnings.

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES
NON-GAAP FINANCIAL DATA (UNAUDITED)
($'s in thousands)
			Three Months Ended												Nine Months Ended
			September 30,												September 30,
			2025						2024						2025						2024
Net cash provided by operating activities			$	192,838					$	177,274					$	290,658					$	242,976
Capital expenditures			(16,900)						(14,584)						(52,054)						(37,703)
Free cash flow			$	175,938					$	162,690					$	238,604					$	205,273
Free cash flow conversion			137		%				142		%				67		%				70		%

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Curtiss-Wright Corporation, Page 17

CURTISS-WRIGHT CORPORATION
2025 Guidance
As of November 5, 2025
($'s in millions, except per share data)
			2024 Reported  (GAAP)						2024 Adjustments (Non-GAAP)(1)						2024 Adjusted (Non-GAAP)(1)						2025 Reported Guidance (GAAP)									2025  Adjustments (Non-GAAP)(2)						2025 Adjusted Guidance (Non-GAAP)(2)
																					Low			High												Low			High						2025 Chg vs 2024 Adjusted
Sales:
Aerospace & Industrial			$	932					$	—					$	932					$	970		$	980					$	—					$	970		$	980					4 - 5%
Defense Electronics			911						—						911						1,000			1,010						—						1,000			1,010						10 - 11%
Naval & Power			1,278						—						1,278						1,450			1,465						—						1,450			1,465						13 - 15%
Total sales			$	3,121					$	—					$	3,121					$	3,420		$	3,455					$	—					$	3,420		$	3,455					10 - 11%
Operating income:
Aerospace & Industrial			$	148					$	10					$	158					$	165		$	170					$	3					$	168		$	173					6 - 9%
Defense Electronics			225						2						227						271			276						—						271			276						19 - 22%
Naval & Power			200						2						202						222			227						14						236			241						17 - 20%
Total segments			$	572					$	15					$	587					$	658		$	673					$	17					$	675		$	690
Corporate and other			(44)						3						(41)						(41)			(43)						—						(41)			(43)
Total operating income			$	529					$	17					$	546					$	617		$	630					$	17					$	634		$	647					16 - 19%
Interest expense			$	(45)					$	—					$	(45)					$	(42)		$	(43)					$	—					$	(42)		$	(43)
Other income, net			38						—						38						29			30						—						29			30
Earnings before income taxes			522						17						539						604			617						17						621			635
Provision for income taxes			(117)						(4)						(121)						(131)			(135)						(4)						(135)			(139)
Net earnings			$	405					$	13					$	418					$	473		$	482					$	13					$	486		$	496
Diluted earnings per share			$	10.55					$	0.35					$	10.90					$	12.60		$	12.85					$	0.35					$	12.95		$	13.20					19 - 21%
Diluted shares outstanding			38.4												38.4						37.6			37.6												37.6			37.6
Effective tax rate			22.4		%										22.4		%				21.8		%	22.0		%										21.8		%	22.0		%
Operating margins:
Aerospace & Industrial			15.9		%										17.0		%				17.0		%	17.3		%										17.3		%	17.6		%				30 - 60 bps
Defense Electronics			24.7		%										24.9		%				27.1		%	27.3		%										27.1		%	27.3		%				220 - 240 bps
Naval & Power			15.6		%										15.8		%				15.3		%	15.5		%										16.3		%	16.5		%				50 - 70 bps
Total operating margin			16.9		%										17.5		%				18.0		%	18.2		%										18.5		%	18.7		%				100 - 120 bps
Free cash flow(3)			$	483					$	—					$	483					$	520		$	535					$	—					$	520		$	535					8 - 11%
Notes: Full year amounts may not add due to rounding. Full-year 2025 guidance includes the potential impacts from tariffs on the Company's operations as well as mitigating actions.
(1) 2024 Adjusted financials are defined as Reported Operating Income, Operating Margin, Net Income and Diluted EPS under GAAP excluding costs associated with the Company's 2024 Restructuring Program and the impact of first year purchase accounting adjustments.
(2) 2025 Adjusted financials are defined as Reported Operating Income, Operating Margin, Net Income and Diluted EPS under GAAP excluding costs associated with the Company's 2024 Restructuring Program and the impact of first year purchase accounting adjustments.
(3) Free Cash Flow is defined as cash flow from operations less capital expenditures. 2025 Free Cash Flow guidance includes higher capital expenditures supporting growth and efficiency, now reflecting a nearly $25 million year-over-year increase compared with 2024 results.

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Curtiss-Wright Corporation, Page 18

CURTISS-WRIGHT CORPORATION
2025 Sales Growth Guidance by End Market
As of November 5, 2025
			2025 % Change vs. 2024 Adjusted
			Prior						Current						% Total Sales
Aerospace & Defense Markets
Aerospace Defense			7 - 9%						7 - 9%						19%
Ground Defense			6 - 8%						7 - 9%						11%
Naval Defense			7 - 9%						9 - 11%						26%
Commercial Aerospace			13 - 15%						13 - 15%						13%
Total Aerospace & Defense			8 - 10%						10 - 11%						69%
Commercial Markets
Power & Process			16 - 18%						16 - 18%						19%
General Industrial			Flat						Flat						12%
Total Commercial			9 - 11%						9 - 11%						31%
Total Curtiss-Wright Sales			9 - 10%						10 - 11%						100%
Note: Sales percentages may not add due to rounding.

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Curtiss-Wright Corporation, Page 19

About Curtiss-Wright Corporation

Curtiss-Wright Corporation (NYSE:CW) is a global integrated business that provides highly engineered products, solutions and services mainly to Aerospace & Defense markets, as well as critical technologies in demanding Commercial Nuclear Power, Process and Industrial markets. We leverage a workforce of approximately 9,000 highly skilled employees who develop, design and build what we believe are the best engineered solutions to the markets we serve. Building on the heritage of Glenn Curtiss and the Wright brothers, Curtiss-Wright has a long tradition of providing innovative solutions through trusted customer relationships. For more information, visit www.curtisswright.com.

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Certain statements made in this press release, including statements about future revenue, financial performance guidance, quarterly and annual revenue, net income, operating income growth, future business opportunities, cost saving initiatives, the successful integration of the Company’s acquisitions, and future cash flow from operations, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements present management's expectations, beliefs, plans and objectives regarding future financial performance, and assumptions or judgments concerning such performance. Any discussions contained in this press release, except to the extent that they contain historical facts, are forward-looking and accordingly involve estimates, assumptions, judgments, and uncertainties. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Such risks and uncertainties include but are not limited to: a reduction in anticipated orders; an economic downturn; geopolitical risks; evolving impacts from tariffs between the U.S. and other countries (including implementation of new tariffs and retaliatory measures); changes in the competitive marketplace and/or customer requirements; a change in government spending; an inability to perform customer contracts at anticipated cost levels; and other factors that generally affect the business of aerospace, defense contracting, electronics, marine, and industrial companies. Such factors are detailed in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and subsequent reports filed with the Securities and Exchange Commission.

This press release and additional information are available at www.curtisswright.com.

Contact:    Jim Ryan    

(704) 869-4621    

Jim.Ryan@curtisswright.com