What changed in this filing

/stocks — the workspaceLOADING

Item 1. Financial Statements

2026-05-07 compared with 2025-11-06 · 184 added, 372 removed, 523 unchanged (52% of the section changed)

2 unchanged sentences

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS

Three Months Ended Nine Months Ended

September 30, September 30,

Three Months Ended

(In thousands, except per share data) 2026 2025

27 unchanged sentences

(In thousands)

Three Months Ended Nine Months Ended

September 30, September 30,

2025 2024 2025 2024

Three Months Ended

Net earnings $ 128,186 $ 101,337

3 unchanged sentences

Pension and postretirement adjustments, net of tax (1)

( 3,836 ) ( 607 ) ( 4,572 ) 151

Other comprehensive income (loss), net of tax ( 20,216 ) 18,938

Comprehensive income $ 107,970 $ 120,275

(1) The tax benefit/(expense) included in foreign currency translation adjustments and pension and postretirement adjustments for the three and nine months ended September 30, 2025 and September 30, 2024 was immaterial.

(1) The tax benefit/(expense) included in both foreign currency translation adjustments and pension and postretirement adjustments for the three months ended March 31, 2026 and 2025 was immaterial.

See notes to condensed consolidated financial statements

2 unchanged sentences

(In thousands, except per share data)

September 30, 2025 December 31, 2024

March 31, 2026 December 31, 2025

Current assets:

26 unchanged sentences

Stockholders’ equity

Common stock, $ 1 par value, 100,000,000 shares authorized as of September 30, 2025 and December 31, 2024;

49,187,378 shares issued as of September 30, 2025 and December 31, 2024;

outstanding shares were 37,107,195 as of September 30, 2025 and 37,650,645 as of December 31, 2024

Common stock, $ 1 par value, 100,000,000 shares authorized as of March 31, 2026 and December 31, 2025;

49,187,378 shares issued as of March 31, 2026 and December 31, 2025;

outstanding shares were 36,948,116 as of March 31, 2026 and 36,859,333 as of December 31, 2025

49,187 49,187

2 unchanged sentences

Accumulated other comprehensive loss ( 194,028 ) ( 173,812 )

Common treasury stock, at cost ( 12,080,183 shares as of September 30, 2025 and 11,536,733 shares as of December 31, 2024)

Common treasury stock, at cost ( 12,239,262 shares as of March 31, 2026 and 12,328,045 shares as of December 31, 2025)

( 1,815,633 ) ( 1,817,495 )

4 unchanged sentences

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

Nine Months Ended

September 30,

Three Months Ended

(In thousands) 2026 2025

1 unchanged sentence

Net earnings $ 128,186 $ 101,337

Adjustments to reconcile net earnings to net cash provided by operating activities

Adjustments to reconcile net earnings to net cash used for operating activities:

Depreciation and amortization 28,365 30,821

10 unchanged sentences

Other current and long-term assets and liabilities ( 14,387 ) ( 12,862 )

Net cash provided by operating activities 290,658 242,976

Net cash used for operating activities ( 5,655 ) ( 38,765 )

Cash flows from investing activities:

1 unchanged sentence

Additions to property, plant, and equipment ( 11,832 ) ( 15,773 )

Proceeds from sale of equity securities 7,919 —

Acquisition of business, net of cash acquired — ( 33,756 )

Additional consideration paid on prior year acquisitions — ( 9,619 )

1 unchanged sentence

Cash flows from financing activities:

Borrowings under revolving credit facilities 271,354 16,615

Payments of revolving credit facilities ( 260,854 ) ( 16,615 )

Borrowings under revolving credit facility 69,100 78,067

Payment of revolving credit facility ( 69,100 ) ( 78,067 )

Principal payments on debt — ( 90,000 )

1 unchanged sentence

Proceeds from share-based compensation 6,481 5,981

Dividends paid ( 16,967 ) ( 15,707 )

Other — ( 309 )

1 unchanged sentence

Effect of exchange-rate changes on cash ( 2,714 ) 3,653

Net increase (decrease) in cash and cash equivalents ( 159,615 ) 36,983

Net decrease in cash and cash equivalents ( 27,898 ) ( 158,583 )

Cash and cash equivalents at beginning of period 371,345 385,042

4 unchanged sentences

(In thousands)

For the nine months ended September 30, 2025

For the three months ended March 31, 2025

Common Stock Additional Paid in Capital Retained Earnings Accumulated Other Comprehensive Income (Loss) Treasury Stock

9 unchanged sentences

Other — ( 290 ) — — 290

September 30, 2025 $ 49,187 $ 160,420 $ 4,182,422 $ ( 185,928 ) $ ( 1,676,620 )

For the three months ended September 30, 2025

Common Stock Additional Paid in Capital Retained Earnings Accumulated Other Comprehensive Income (Loss) Treasury Stock

June 30, 2025 $ 49,187 $ 149,650 $ 4,066,497 $ ( 168,117 ) $ ( 1,385,497 )

Net earnings — — 124,832 — —

Other comprehensive loss, net of tax — — — ( 17,811 ) —

Dividends declared — — ( 8,907 ) — —

Restricted stock — ( 9 ) — — 9

Employee stock purchase plan — 4,653 — — 1,904

Share-based compensation — 6,126 — — —

Repurchase of common stock (1)

— — — — ( 293,036 )

Other — — — — —

September 30, 2025 $ 49,187 $ 160,420 $ 4,182,422 $ ( 185,928 ) $ ( 1,676,620 )

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

(In thousands)

For the nine months ended September 30, 2024

March 31, 2025 $ 49,187 $ 145,217 $ 3,954,481 $ ( 224,287 ) $ ( 1,365,451 )

For the three months ended March 31, 2026

Common Stock Additional Paid in Capital Retained Earnings Accumulated Other Comprehensive Income (Loss) Treasury Stock

1 unchanged sentence

Net earnings — — 128,186 — —

Other comprehensive income, net of tax — — — 9,795 —

Dividends declared — — ( 23,694 ) — —

Restricted stock — ( 13,944 ) — — 13,944

Employee stock purchase plan — 5,714 — — 5,631

Share-based compensation — 14,934 — — 230

Repurchase of common stock (1)

— — — — ( 137,580 )

Other — ( 2,492 ) — — 2,342

September 30, 2024 $ 49,187 $ 144,394 $ 3,751,183 $ ( 203,428 ) $ ( 1,250,917 )

For the three months ended September 30, 2024

Common Stock Additional Paid in Capital Retained Earnings Accumulated Other Comprehensive Income (Loss) Treasury Stock

June 30, 2024 $ 49,187 $ 135,574 $ 3,648,005 $ ( 233,488 ) $ ( 1,140,858 )

Net earnings — — 111,160 — —

Other comprehensive income, net of tax — — — 30,060 —

Other comprehensive loss, net of tax — — — ( 20,216 ) —

Dividends declared — — ( 8,873 ) —

5 unchanged sentences

Other — ( 592 ) — — 592

September 30, 2024 $ 49,187 $ 144,394 $ 3,751,183 $ ( 203,428 ) $ ( 1,250,917 )

March 31, 2026 $ 49,187 $ 162,326 $ 4,429,993 $ ( 194,028 ) $ ( 1,815,633 )

(1) For the three months ended March 31, 2026 and March 31, 2025, the Corporation repurchased approximately 22,000 and 42,000 shares, respectively, of its common stock.

See notes to condensed consolidated financial statements

(1) For the three and nine months ended September 30, 2025, the Corporation repurchased approximately 582,000 and 684,000 shares of its common stock, respectively.

For the three and nine months ended September 30, 2024, the Corporation repurchased approximately 356,000 and 455,000 shares of its common stock, respectively.

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES

14 unchanged sentences

Accordingly, the effect of the changes on future periods of contract performance is recognized as if the revised estimate had been the original estimate.

During the three and nine months ended September 30, 2025 and 2024, there were no significant changes in estimated contract costs.

During the three months ended March 31, 2026 and 2025, there were no significant changes in estimated contract costs.

In the opinion of management, all adjustments considered necessary for a fair presentation have been reflected in these financial statements.

The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Corporation’s 2024 Annual Report on Form 10-K.

The results of operations for interim periods are not necessarily indicative of trends or of the operating results for a full year.

Recently issued accounting standards adopted

In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (ASU) 2023-07, Segment Reporting (Topic 280):

Improvements to Reportable Segment Disclosures (“ASU 2023-07”), which requires disclosure of significant reportable segment expenses that are regularly provided to the chief operating decision-maker (“CODM”) and included within the Corporation's measure of segment profit or loss.

ASU 2023-07 also requires that all disclosures around segment profit or loss and assets be provided on both an annual and interim basis.

The Company adopted this standard as of December 31, 2024 and included revised disclosures within Note 11 of the Condensed Consolidated Financial Statements.

New accounting pronouncements not yet adopted

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740), Improvement to Income Tax Disclosures , which requires enhanced income tax disclosures, including disaggregation of information in the rate reconciliation table and disaggregated information related to income taxes paid.

The ASU is effective for annual reporting periods beginning with the year ending December 31, 2025.

The Company is currently evaluating the impact of adopting this standard on its Consolidated Financial Statements.

In December 2025, the FASB issued ASU 2025-10, Government Grants (Topic 832):

Accounting for Government Grants Received by Business Entities , which provides guidance on the recognition, measurement, and presentation of government grants.

The ASU is effective for annual reporting periods beginning with the year ending December 31, 2028, including interim periods within that period.

The Company early adopted this standard beginning in the first quarter of 2026 using the modified prospective approach.

The adoption did not have a material effect on the Condensed Consolidated Financial Statements.

Recently issued accounting standards to be adopted

In December 2024, the FASB issued ASU 2024-03 , Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40):

4 unchanged sentences

In September 2025, the FASB issued ASU 2025-06, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40):

Accounting for and Disclosure of Software Costs , which amends certain aspects of the accounting for and disclosure

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES

NOTES to CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

of internal-use software costs.

Accounting for and Disclosure of Software Costs , which amends certain aspects of the accounting for and disclosure of internal-use software costs.

The ASU is effective for annual reporting periods beginning with the year ending December 31, 2028.

1 unchanged sentence

The Company is currently evaluating the impact of adopting this standard on its Consolidated Financial Statements.

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES

NOTES to CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

The Corporation recognizes revenue when control of a promised good and/or service is transferred to a customer in an amount that reflects the consideration that the Corporation expects to be entitled to in exchange for that good and/or service.

7 unchanged sentences

If a performance obligation does not qualify for over-time revenue recognition, revenue is then recognized at the point-in-time in which control of the distinct good or service is transferred to the customer, typically based upon the terms of delivery.

The following table illustrates the approximate percentage of revenue recognized for performance obligations satisfied over-time versus at a point-in-time for the three and nine months ended September 30, 2025 and 2024:

Three Months Ended Nine Months Ended

September 30, September 30,

2025 2024 2025 2024

The following table illustrates the approximate percentage of revenue recognized for performance obligations satisfied over-time versus at a point-in-time for the three months ended March 31, 2026 and 2025:

Three Months Ended

Over-time 52 % 53 %

2 unchanged sentences

Backlog includes deferred revenue and amounts that will be invoiced and recognized as revenue in future periods.

Total backlog was approximately $ 3.9 billion as of September 30, 2025, of which the Corporation expects to recognize approximately 90 % as net sales over the next 36 months .

Total backlog was approximately $ 4.3 billion as of March 31, 2026, of which the Corporation expects to recognize approximatel y 90 % as net sales over the next 36 months .

The remainder will be recognized thereafter.

1 unchanged sentence

The following table presents the Corporation’s total net sales disaggregated by end market and customer type:

Total Net Sales by End Market and Customer Type Three Months Ended Nine Months Ended

September 30, September 30,

Total Net Sales by End Market and Customer Type Three Months Ended

(In thousands) 2026 2025

4 unchanged sentences

Commercial Aerospace 110,505 92,877

Total Aerospace & Defense $ 617,713 $ 566,140 $ 1,789,168 $ 1,598,602

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES

NOTES to CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Total Aerospace & Defense customers $ 641,432 $ 562,922

Power & Process $ 167,057 $ 142,934

General Industrial 105,198 99,789

Total Commercial $ 251,457 $ 232,778 $ 762,223 $ 698,274

Total Commercial customers $ 272,255 $ 242,723

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES

NOTES to CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Total $ 913,687 $ 805,645

5 unchanged sentences

The Corporation’s contract liabilities primarily consist of customer advances received prior to revenue being earned.

Revenue recognized during the three and nine months ended September 30, 2025 included in the contract liabilities balance as of January 1, 2025 was approximately $ 65 million and $ 276 million, respectively.

Revenue recognized during the three and nine months ended September 30, 2024 included in the contract liabilities balance as of January 1, 2024 was approximately $ 47 million and $ 207 million, respectively.

Revenue recognized during the three months ended March 31, 2026 and 2025 included in contract liabilities at the beginning of the respective years was approximately $ 170 million and $ 116 million, respectively.

Contract assets and contract liabilities are reported in the "Receivables, net" and "Deferred revenue" lines, respectively, within the Condensed Consolidated Balance Sheet.

The Corporation continually evaluates potential acquisitions that either strategically fit within the Corporation’s existing portfolio or expand the Corporation’s portfolio into new product lines or adjacent markets.

The Corporation has completed numerous acquisitions that have been accounted for as business combinations and have resulted in the recognition of goodwill in the Corporation's financial statements.

This goodwill arises because the acquisition purchase price reflects the future earnings and cash flow potential in excess of the earnings and cash flows attributable to the current product and customer set at the time of acquisition.

Thus, goodwill inherently includes the know-how of the assembled workforce, the ability of the workforce to further improve the technology and product offerings, and the expected cash flows resulting from these efforts.

Goodwill may also include expected synergies resulting from the complementary strategic fit these businesses bring to existing operations.

The Corporation allocates the purchase price at the date of acquisition based upon its understanding of the fair value of the acquired assets and assumed liabilities.

In the months after closing, as the Corporation obtains additional information about these assets and liabilities, including through tangible and intangible asset appraisals, and as the Corporation learns more about the newly acquired business, it is able to refine the estimates of fair value and more accurately allocate the purchase price.

Only items identified as of the acquisition date are considered for subsequent adjustment.

The Corporation will make appropriate adjustments to the purchase price allocation prior to completion of the measurement period, as required.

During the nine months ended September 30, 2025, the Corporation did not complete any acquisitions.

During the year ended December 31, 2024, the Corporation acquired two businesses for an aggregate purchase price of $ 235 million.

The Condensed Consolidated Statement of Earnings for the nine months ended September 30, 2025 includes $ 63 million of total net sales and $ 6 million of net losses from the Corporation's 2024 acquisitions.

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition for both 2024 acquisitions, inclusive of subsequent purchase price adjustments.

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES

NOTES to CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(In thousands)

Accounts receivable $ 24,476

Inventory 5,789

Other current and non-current assets 8,877

Property, plant, and equipment 11,716

Intangible assets 101,967

Operating lease right-of-use assets, net 1,858

Current and non-current liabilities ( 14,360 )

Deferred revenue ( 12,969 )

Deferred income taxes ( 15,528 )

Net tangible and intangible assets 111,826

Goodwill 122,824

Total purchase price $ 234,650

Goodwill deductible for tax purposes $ —

2024 Acquisitions

On April 1, 2024, the Corporation completed the acquisition of WSC for $ 34 million.

The Share Purchase Agreement contains representations and warranties customary for a transaction of this type, including a portion of the purchase price deposited in escrow as security for potential indemnification claims against seller.

The acquired business, which operates within the Naval & Power segment, is a provider of simulation technology that supports the design, commissioning, and reliable operation of commercial nuclear power generation and process plants.

I&C Solutions

On December 31, 2024, the Corporation completed the acquisition of I&C Solutions (formerly referenced by the Company as Ultra Energy) for $ 201 million in cash, net of cash acquired, inclusive of additional consideration paid during the current year period.

The acquired business, which operates in the Naval & Power segment, is a designer and manufacturer of reactor protection systems, neutron monitoring systems, radiation monitoring systems, and temperature and pressure sensors.

The acquisition is subject to post-closing adjustments with the purchase price allocation not yet complete.

Receivables primarily include amounts billed to customers, unbilled charges on long-term contracts consisting of amounts recognized as sales but not billed, and other receivables.

Substantially all amounts of unbilled receivables are expected to be billed and collected within one year.

An immaterial amount of unbilled receivables are subject to retainage provisions.

The amount of claims and unapproved change orders within our receivables balances are immaterial.

The composition of receivables is as follows:

(In thousands) September 30, 2025 December 31, 2024

(In thousands) March 31, 2026 December 31, 2025

Billed receivables:

2 unchanged sentences

Recoverable costs and estimated earnings not billed, net of progress payments 451,941 412,410

Total receivables 1,002,972 938,730

Allowance for doubtful accounts ( 6,641 ) ( 6,386 )

( 6,855 ) ( 4,202 )

Receivables, net $ 996,331 $ 932,344

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES

NOTES to CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Inventoried costs contain amounts relating to long-term contracts and programs with long production cycles, a portion of which will not be realized within one year.

2 unchanged sentences

The composition of inventories is as follows:

(In thousands) September 30, 2025 December 31, 2024

(In thousands) March 31, 2026 December 31, 2025

Raw materials $ 289,576 $ 288,353

5 unchanged sentences

Inventories, net $ 640,642 $ 615,097

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES

NOTES to CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

The Corporation accounts for acquisitions by assigning the purchase price to acquired tangible and intangible assets and liabilities assumed.

Assets acquired and liabilities assumed are recorded at their fair values, and the excess of the purchase price over the amounts assigned is recorded as goodwill.

The changes in the carrying amount of goodwill for the nine months ended September 30, 2025 are as follows:

The changes in the carrying amount of goodwill for the three months ended March 31, 2026 are as follows:

(In thousands) Aerospace & Industrial Defense Electronics Naval & Power Consolidated

December 31, 2025 $ 328,165 $ 714,602 $ 649,723 $ 1,692,490

Adjustments (1)

— — ( 9,329 ) ( 9,329 )

Foreign currency translation adjustment ( 1,298 ) ( 2,919 ) ( 2,906 ) ( 7,123 )

September 30, 2025 $ 328,111 $ 713,816 $ 650,845 $ 1,692,772

(1) Amount includes post-closing purchase price adjustments related to the Corporation's acquisitions of WSC and I&C Solutions.

March 31, 2026 $ 326,867 $ 711,683 $ 646,817 $ 1,685,367

OTHER INTANGIBLE ASSETS, NET

2 unchanged sentences

The following tables present the cumulative composition of the Corporation’s intangible assets:

September 30, 2025 December 31, 2024

March 31, 2026 December 31, 2025

(In thousands) Gross Accumulated Amortization Net Gross Accumulated Amortization Net

5 unchanged sentences

(1) Programs include values assigned to major programs of acquired businesses and represent the aggregate value associated with the customer relationships, contracts, technology, and trademarks underlying the associated program.

Total intangible amortization expense for the nine months ended September 30, 2025 was $ 54 million, as compared to $ 43

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES

NOTES to CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

million in the comparable prior year period.

Total intangible amortization expense for the three months ended March 31, 2026 was $ 15 million, as compared to $ 18 million in the comparable prior year period.

The estimated future amortization expense of intangible assets over the next five years is as follows:

1 unchanged sentence

FAIR VALUE OF FINANCIAL INSTRUMENTS

The estimated fair value amounts were determined by the Corporation using available market information that is primarily based on quoted market prices for the same or similar issuances as of September 30, 2025.

Accordingly, all of the Corporation’s debt is valued as a Level 2 financial instrument.

1 unchanged sentence

Furthermore, the use of different methodologies to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date.

September 30, 2025 December 31, 2024

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES

NOTES to CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

March 31, 2026 December 31, 2025

(In thousands) Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value

13 unchanged sentences

100,000 93,641 100,000 94,153

4.64 % Senior notes due 2034

100,000 93,996 100,000 89,538

Borrowings under Revolving Credit Agreement due 2027 10,500 10,500 — —

Total debt 957,500 909,151 957,500 912,050

4 unchanged sentences

Defined Benefit Pension Plans

The following table is a consolidated disclosure of all domestic and foreign defined benefit pension plans as described in the Corporation’s 2024 Annual Report on Form 10-K filed with the SEC.

The components of net periodic pension cost for the three and nine months ended September 30, 2025 and 2024 were as follows:

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES

NOTES to CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Three Months Ended Nine Months Ended

September 30, September 30,

The following table is a consolidated disclosure of all domestic and foreign defined pension plans as described in the Corporation’s 2025 Annual Report on Form 10-K filed with the SEC.

The components of net periodic pension cost/(benefit) were as follows:

Three Months Ended

(In thousands) 2026 2025

4 unchanged sentences

Amortization of unrecognized actuarial loss 467 246

Cost of settlements/curtailments 1,614 — 1,614 —

Total net periodic pension cost $ ( 2,118 ) $ ( 3,684 ) $ ( 11,574 ) $ ( 10,528 )

The Corporation did not make any contributions to the Curtiss-Wright Pension Plan during the nine months ended September 30, 2025, and does not expect to do so throughout the remainder of the year.

Net periodic pension cost/(benefit) $ ( 4,517 ) $ ( 4,728 )

The Corporation did not make any contributions to the Curtiss-Wright Pension Plan during the three months ended March 31, 2026, and does not expect to do so throughout the remainder of the year.

Contributions to the foreign benefit plans are not expected to be material in 2026.

During the three and nine months ended September 30, 2025, the Company recognized settlement charges related to the retirement of a former executive.

The settlement charges represent events that are accounted for under guidance on employers’ accounting for settlements and curtailments of defined benefit pension plans.

Defined Contribution Retirement Plan

1 unchanged sentence

subsidiaries.

The employer contributions include both employer match and non-elective contribution components up to a maximum employer contribution of 7 % of eligible compensation.

During the three and nine months ended September 30, 2025, the expense relating to the plan was $ 6.3 million and $ 22.4 million, respectively.

During the three and nine months ended September 30, 2024, the expense relating to the plan was $ 5.7 million and $ 20.0 million, respectively.

The employer contributions include both employer match and non-elective contribution components up to a maximum employer contribution o f 7 % of eligible compensation.

The expense relating to the plan was $ 9 million for both the three months ended March 31, 2026 and 2025.

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES

NOTES to CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

EARNINGS PER SHARE

1 unchanged sentence

A reconciliation of basic to diluted shares used in the earnings per share calculation is as follows:

Three Months Ended Nine Months Ended

September 30, September 30,

Three Months Ended

(In thousands) 2026 2025

2 unchanged sentences

Diluted weighted-average shares outstanding 37,058 37,851

There were approximately 5,000 and 33,000 shares issuable under equity-based awards that were excluded from the calculation of diluted earnings per share for the nine months ended September 30, 2025 and September 30, 2024, respectively, as they were anti-dilutive based on the average stock price during the period.

There were no anti-dilutive equity-based awards for the three months ended September 30, 2025 and September 30, 2024, respectively.

For the three months ended March 31, 2026, there were approximately 29,000 shares issuable under equity-based awards that were excluded from the calculation of diluted earnings per share as they were anti-dilutive based on the average stock price during the period.

There were no anti-dilutive shares for the three months ended March 31, 2025.

SEGMENT INFORMATION

The Corporation’s segments are composed of similar product groupings that serve the same or similar end markets.

Based on this approach, the Corporation has three reportable segments:

Aerospace & Industrial, Defense Electronics, and Naval & Power.

The Corporation’s measure of segment profit or loss is operating income.

1 unchanged sentence

Operating results by reportable segment were as follows:

Three Months Ended Nine Months Ended

September 30, September 30,

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES

NOTES to CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Three Months Ended

(In thousands) 2026 2025

18 unchanged sentences

Naval & Power 19,370 16,823

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES

NOTES to CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Total selling expenses $ 43,547 $ 39,055

9 unchanged sentences

Total other segment items $ 910 $ 1,253

Operating income (expense)

Operating income

Aerospace & Industrial $ 38,498 $ 29,922

2 unchanged sentences

Total Segment 170,202 139,234

Corporate and other (1)

Corporate and Eliminations (1)

( 10,693 ) ( 10,029 )

2 unchanged sentences

Aerospace & Industrial $ 7,999 $ 7,672

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES

NOTES to CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Defense Electronics 7,730 7,546

8 unchanged sentences

Total Consolidated $ 11,832 $ 15,773

(1) Includes pension and other postretirement benefit expense, certain environmental costs related to remediation at legacy sites, and certain other expenses.

(2) Other segment items includes restructuring expenses associated with the 2024 Restructuring Program.

(1) Corporate and Eliminations includes pension expense, environmental remediation and administrative expenses, legal, and other expenses.

(2) Other segment items includes restructuring expenses associated with the 2026 Restructuring Program in the current period and 2024 Restructuring Program in the prior period.

Adjustments to reconcile operating income to earnings before income taxes are as follows:

Three Months Ended Nine Months Ended

(In thousands) September 30, September 30,

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES

NOTES to CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Three Months Ended

(In thousands) 2026 2025

Earnings before taxes:

2025 2024 2025 2024

Total reportable segment operating income $ 170,202 $ 139,234

3 unchanged sentences

Earnings before income taxes $ 157,765 $ 125,092

(In thousands) September 30, 2025 December 31, 2024

(In thousands) March 31, 2026 December 31, 2025

Segment Assets

2 unchanged sentences

Naval & Power 2,064,052 2,018,076

Corporate and Other 385,185 520,691

Corporate 535,046 526,372

Total consolidated $ 5,270,081 $ 5,221,292

1 unchanged sentence

The cumulative balance of each component of accumulated other comprehensive income (AOCI), net of tax, is as follows:

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES

NOTES to CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(In thousands) Foreign currency translation adjustments, net Total pension and postretirement adjustments, net Accumulated other comprehensive income (loss)

December 31, 2024 $ ( 167,193 ) $ ( 76,032 ) $ ( 243,225 )

Other comprehensive income (loss) before reclassifications (1)

Other comprehensive income before reclassifications (1)

68,064 4,141 72,205

Amounts reclassified from accumulated other comprehensive income (1)

Net current period other comprehensive income (loss) ( 43,905 ) 13,903 ( 30,002 )

Amounts reclassified from accumulated other comprehensive loss (1)

— ( 2,792 ) ( 2,792 )

Net current period other comprehensive income 68,064 1,349 69,413

December 31, 2025 $ ( 99,129 ) $ ( 74,683 ) $ ( 173,812 )

1 unchanged sentence

( 20,776 ) 899 ( 19,877 )

Amounts reclassified from accumulated other comprehensive income (1)

Amounts reclassified from accumulated other comprehensive loss (1)

— ( 339 ) ( 339 )

Net current period other comprehensive income (loss) ( 20,776 ) 560 ( 20,216 )

September 30, 2025 $ ( 105,324 ) $ ( 80,604 ) $ ( 185,928 )

March 31, 2026 $ ( 119,905 ) $ ( 74,123 ) $ ( 194,028 )

(1) All amounts are after tax.

CONTINGENCIES AND COMMITMENTS

From time to time, the Corporation and its subsidiaries are involved in legal proceedings that are incidental to the operation of our business.

From time to time, the Corporation is involved in legal proceedings that are incidental to the operation of its business.

Some of these proceedings allege damages relating to asbestos and environmental exposures, intellectual property matters, copyright infringement, personal injury claims, employment and employee benefit matters, government contract issues, commercial or contractual disputes, and acquisitions or divestitures.

The Corporation continues to defend vigorously against all claims.

Although the ultimate outcome of any legal matter cannot be predicted with certainty, based on present information, including assessment of the merits of the particular claim, as well as current accruals and insurance coverage, the Corporation does not expect that such legal proceedings will have a material adverse impact on its condensed consolidated financial statements.

Although the ultimate outcome of any legal matter cannot be predicted with certainty, based on present information, including assessment of the merits of the particular claim, as well as current accruals and insurance coverage, the Corporation does not believe that the disposition of any of these matters, individually or in the aggregate, will have a material adverse effect on its condensed consolidated financial condition, results of operations, and cash flows.

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES

NOTES to CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Legal Proceedings

5 unchanged sentences

The Corporation enters into standby letters of credit agreements and guarantees with financial institutions and customers primarily relating to guarantees of repayment, future performance on certain contracts to provide products and services, and to secure advance payments from certain international customers.

As of September 30, 2025 and December 31, 2024, there were $ 26 million and $ 21 million of stand-by letters of credit outstanding, respectively, and $ 11 million and $ 15 million of bank guarantees outstanding, respectively.

As of March 31, 2026 and December 31, 2025, there were $ 29 million and $ 25 million of stand-by letters of credit outstanding, respectively.

As of March 31, 2026 and December 31, 2025, there were $ 15 million and $ 12 million of bank guarantees outstanding, respectively.

In addition, the Corporation is required to provide the Nuclear Regulatory Commission financial assurance demonstrating its ability to cover the cost of decommissioning its Cheswick, Pennsylvania facility upon closure, though the Corporation does not intend to close this facility.

The Corporation has provided this financial assurance in the form of a $ 40 million surety bond.

RESTRUCTURING COSTS

In 2024, the Corporation commenced restructuring activities across all of its segments to support its ongoing effort of improving operating efficiency ("2024 Restructuring Program").

These activities, which primarily include workforce reductions, consolidation of facilities, and costs related to legal entity restructuring, have been substantially completed as of September 30, 2025.

Fo r the three and nine months ended September 30, 2025, these restructuring activities resulted in pre-tax charges of approximately $ 0.8 million and $ 2.8 million respectively, compared to pre-tax charges of approximately $ 3.3 million

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES

NOTES to CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

and $ 7.6 million for the three and nine months ended September 30, 2024.

As of September 30, 2025 and December 31, 2024, the restructuring liability associated with these restructuring activities was $ 0.4 million and $ 3.0 million, respectively.

These balances are reported within Other Current Liabilities on the Condensed Consolidated Balance Sheet.

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES

PART I- ITEM 2

5 unchanged sentences

(a) projections of or statements regarding return on investment, future earnings, interest income, sales, volume, other income, earnings or loss per share, growth prospects, capital structure, liquidity requirements, and other financial terms, (b) statements of plans and objectives of management, (c) statements of future economic performance;

(d) impacts on our business related to the continued shutdown of the U.S.

(d) impacts on our business related to another shutdown of the U.S.

government, ongoing supply chain disruptions, significant inflation, higher interest rates or deflation, labor shortages, U.S.

and foreign trade policies and tariffs or other impositions on imported goods, and measures taken by governments and private industry in response, as well as related to the ongoing conflict between Russia and Ukraine, and the related sanctions, (e) the effect of laws, rules, regulations, tax reform, new accounting pronouncements, and outstanding litigation on our business and future performance, and (f) statements of assumptions, such as economic conditions underlying other statements.

and foreign trade policies and tariffs or other impositions on imported goods, and measures taken by governments and private industry in response, as well as related to the ongoing conflict between Russia and Ukraine and the war/conflict in the Middle East, and the related sanctions, (e) the effect of laws, rules, regulations, tax reform, new accounting pronouncements, and outstanding litigation on our business and future performance, and (f) statements of assumptions, such as economic conditions underlying other statements.

Such forward-looking statements can be identified by the use of forward-looking terminology such as “anticipates,” “believes,” “continue,” “could,” “estimate,” “expects,” “intend,” “may,” “might,” “outlook,” “potential,” “predict,” “should,” “will,” as well as the negative of any of the foregoing or variations of such terms or comparable terminology, or by discussion of strategy.

18 unchanged sentences

RESULTS OF OPERATIONS

The following Management’s Discussion and Analysis of Financial Condition and Results of Operations (MD&A) is intended to help the reader understand the results of operations and financial condition of the Corporation for the three and nine month periods ended September 30, 2025.

The financial information as of September 30, 2025 should be read in conjunction with the financial statements for the year ended December 31, 2024 contained in our Form 10-K.

The financial information as of March 31, 2026 should be read in conjunction with the financial statements for the year ended December 31, 2025 contained in our Form 10-K filed with the SEC.

The MD&A is organized into the following sections:

9 unchanged sentences

The results of operations for acquisitions are incremental for the first twelve months from the date of acquisition.

The definition of “organic” excludes the effects of costs associated with our 2024 Restructuring Program and foreign currency translation.

The definition of “organic” excludes the effects of costs associated with our 2026 Restructuring Program in the current period and 2024 Restructuring Program in the prior period, and foreign currency translation.

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES

3 unchanged sentences

Condensed Consolidated Statements of Earnings

Three Months Ended Nine Months Ended

September 30, September 30,

(In thousands) 2025 2024 % change 2025 2024 % change

Three Months Ended

(In thousands) 2026 2025 % change

Aerospace & Industrial $ 254,919 $ 227,246 12 %

13 unchanged sentences

Net earnings $ 128,186 $ 101,337 26 %

New orders $ 926,884 $ 860,360 8 % $ 2,944,447 $ 2,757,117 7 %

Components of sales and operating income increase (decrease):

Three Months Ended Nine Months Ended

September 30, September 30,

2024 2025 vs.

Sales Operating Income Sales Operating Income

Three Months Ended

Sales Operating Income

Organic 12 % 24 %

Acquisitions 3 % (2 %) 2 % (1 %)

Restructuring — % 2 % — % 1 %

Foreign currency 1 % (1 %)

Total 13 % 23 %

Sales in the third quarter increased $70 million, or 9%, to $869 million, compared with the prior year period.

On a segment basis, sales from the Aerospace & Industrial, Defense Electronics, and Naval & Power segments increased $19 million, $10 million, and $41 million, respectively.

Sales during the nine months ended September 30, 2025 increased $255 million, or 11%, to $2,551 million, compared with the prior year period.

Sales during the three months ended March 31, 2026 increased $108 million, or 13%, to $914 million, compared with the prior year period.

On a segment basis, sales from the Aerospace & Industrial, Defense Electronics, and Naval & Power segments increased $28 million, $11 million, and $69 million, respectively.

Changes in sales by segment are discussed in further detail in the results by business segment section below.

Operating income during the three months ended March 31, 2026 increased $30 million, or 23%, to $160 million, compared with the prior year period, and operating margin increased 150 basis points to 17.5% compared with the same period in 2025.

Increases in operating income and operating margin were primarily due to favorable absorption on higher sales across all segments.

Operating income and operating margin in the Defense Electronics and Naval & Power segments also benefited from favorable product mix.

No n-segment operating expense of $11 million during the three months ended March 31, 2026 was essentially flat against the comparable prior year period.

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES

2 unchanged sentences

FINANCIAL CONDITION and RESULTS OF OPERATIONS, continued

Operating income in the third quarter increased $21 million, or 15%, to $166 million, and operating margin increased 100 basis points to 19.1% compared with the same period in 2024, due to increases across all segments.

In the Aerospace & Industrial segment, increases in operating income and operating margin were primarily due to favorable overhead absorption on higher sales, the benefits of the Company's restructuring initiatives, and favorable product mix.

Operating income and operating

margin in the Defense Electronics segment increased primarily due to favorable absorption on higher sales as well as the

benefits from our operational excellence initiatives.

In the Naval & Power segment, operating income increased primarily due to favorable overhead absorption on higher sales as well as the benefits from our operational excellence initiatives, while operating margin was negatively impacted primarily by first year purchase accounting costs associated with our acquisition of I&C Solutions.

Operating income during the nine months ended September 30, 2025 increased $78 million , or 21% , to $452 million , and operating margin increased 140 basis points to 17.7%, compared with the same period in 2024, due to increases across all segments.

Operating income and operating margin in the Defense Electronics segment increased primarily due to favorable absorption on higher sales, the benefits from our operational excellence initiatives, and favorable mix on defense electronics products.

In the Naval & Power segment, increases in operating income and operating margin were primarily due to favorable overhead absorption on higher sales, an unfavorable prior year period naval contract adjustment that did not recur in the current period, as well as the benefits from our operational excellence initiatives.

These increases were partially offset by higher investment in research and development.

Non-segment operating expense in the third quarter and nine months ended September 30, 2025 increased $2 million, or 18%, to $11 million, and $1 million, or 3%, to $32 million, primarily due to higher corporate costs.

Interest expense in the third quarter and nine months ended September 30, 2025 decreased $1 million, or 8%, to $10 million, and $2 million, or 6%, to $31 million, respectively, primarily due to lower borrowings under our revolving Credit Agreement (the “Credit Agreement” or “credit facility”) as well as the repayment of our $90 million 3.85% Senior Notes in February 2025.

Other income, net in the third quarter and nine months ended September 30, 2025 decreased $5 million, or 47%, to $5 million, and $6 million, or 21%, to $22 million, respectively, primarily due to lower interest income and higher overall pension costs against the comparable prior year periods.

The effective tax rate of 22.5% in the third quarter decreased compared to an effective tax rate of 22.6% in the prior year period, primarily due to the full year estimated benefit of the prior year’s legal entity restructuring in the current period.

The effective tax rate of 21.6% for the nine months ended September 30, 2025 decreased as compared to an effective tax rate of 22.2%, primarily due to the full year estimated benefit of the prior year’s legal entity restructuring in the current period, partially offset by higher provisional tax expense associated with foreign withholding taxes in the current period.

Comprehensive income in the third quarter was $107 million, compared to comprehensive income of $141 million in the prior year period.

The change was primarily due to the following:

• Foreign currency translation adjustments in the third quarter resulted in a $14 million comprehensive loss, compared to a $31 million comprehensive gain in the prior year period.

The comprehensive loss during the current period was primarily attributed to decreases in t he British Pound and Canadian dollar.

• Net earnings increas ed $14 million , primarily due to higher operating income.

Comprehensive income during the nine months ended September 30, 2025 was $405 million, compared to comprehensive income of $297 million in the prior year period.

Interest expense of $10 million during the three months ended March 31, 2026 was essentially flat against the comparable prior year period.

Other income, net during the three months ended March 31, 2026 increased $2 million , or 36%, to $8 million, primarily due to prior period losses on equity securities held for investment purposes that were acquired in conjunction with our I&C Solutions acquisition.

The effective tax rate for the three months ended March 31, 2026 of 18.7% decreased compared to an effective tax rate of 19.0% in the comparable prior year period, primarily due to increased tax benefits associated with stock-based compensation.

Comprehensive income for the three months ended March 31, 2026 was $108 million, compared to comprehensive income of $120 million in the prior year period.

The change was primarily due to the following:

• Foreign currenc y translation adjustments for the nine months ended September 30, 2025 resulted in a $62 million comprehensive gain, c ompared to a $10 million comprehensive gain in the prior period.

The co mprehensive gain during the current period was primarily attributed to increases in the British Pound and Canadian dollar.

• Net earnings increased $60 million, pr imarily due to higher operating income.

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES

PART I - ITEM 2

MANAGEMENT’S DISCUSSION and ANALYSIS of

FINANCIAL CONDITION and RESULTS OF OPERATIONS, continued

New orders in the third quarter increased $67 million from the comparable prior year period, primarily due to the timing of naval defense orders as well as an increase in orders for commercial nuclear products in the Naval & Power segment.

New orders also benefited from an increase in orders in the Aerospace & Industrial segment for sensors and actuation products as well as surface treatment services within our A&D markets.

These increases were partially offset by the timing of orders on aerospace and ground defense equipment in the Defense Electronics segment, including embedded computing and tactical communications products.

New orders during the nine months ended September 30, 2025 increased $187 million from the comparable prior year period, primarily due to the timing of naval defense orders as well as an increase in orders for commercial nuclear products in the Naval & Power segment.

New orders also benefited from an increase in orders in the Aerospace & Industrial segment for sensors products and surface treatment services within our A&D markets.

• Net earnings increased $27 million, primarily due to higher operating income.

• Foreign currency translation adjustments for the three months ended March 31, 2026 resulted in a $21 million comprehensive loss, compared to a $19 million comprehensive gain in the prior period.

The comprehensive loss during the current period was primarily attributed to decreases in the British Pound and Canadian dollar.

New orders during the three months ended March 31, 2026 increased $167 million, or 16%, from the prior year period to $1.2 billion, primarily due to an increase in orders for naval defense and commercial nuclear products in the Naval & Power segment.

New orders also benefited from the timing of orders on naval and ground defense equipment in the Defense Electronics segment as well as an increase in orders for actuation products on aerospace defense equipment in the Aerospace & Industrial segment.

Changes in new orders by segment are discussed in further detail in the "Results by Business Segment" section below.

2 unchanged sentences

The following tables summarize sales, operating income and margin, and new orders within the Aerospace & Industrial segment.

Three Months Ended Nine Months Ended

September 30, September 30,

(In thousands) 2025 2024 % change 2025 2024 % change

Three Months Ended

(In thousands) 2026 2025 % change

Sales $ 254,919 $ 227,246 12 %

Operating income 38,498 29,922 29 %

Operating margin 18.3 % 16.4 % 190 bps 16.0 % 14.7 % 130 bps

New orders $ 258,572 $ 229,506 13% $ 753,649 $ 705,072 7%

Operating margin 15.1 % 13.2 % 190 bps

Components of sales and operating income increase (decrease):

Three Months Ended Nine Months Ended

September 30, September 30,

2024 2025 vs.

Sales Operating Income Sales Operating Income

Three Months Ended

Sales Operating Income

Organic 10 % 30 %

2 unchanged sentences

Total 12 % 29 %

Sales in the Aerospace & Industrial segment are primarily generated from the general industrial and aerospace & defense markets, and, to a lesser extent, the power & process markets.

Sales in the third quarter increased $19 million, or 8%, to $248 million from the prior year period.

Sales in the commercial aerospace market benefited $12 million primarily due to higher demand for actuation equipment, sensors products, and surface treatment services on various narrow-body and wide-body platforms.

In the ground defense market, sales increased $8 million primarily due to higher sales of electromechanical actuation ("EM") equipment.

Sales during the nine months ended September 30, 2025 increased $33 million , or 5%, to $714 million from the prior year period.

In the commercial aerospace market, sales increased $23 million primarily due to higher demand for actuation equipment, sensors products, and surface treatment services on various narrow-body and wide-body platform s.

Sales in the Aerospace & Industrial segment are primarily generated from the commercial aerospace and general industrial markets, and to a lesser extent the defense and power & process markets.

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES

2 unchanged sentences

FINANCIAL CONDITION and RESULTS OF OPERATIONS, continued

ground defense market increased $11 million primarily due to higher sales of EM equipment.

In the aerospace defense market, sales increased $10 million primarily due to higher demand for actuation equipment and surface treatment services on various fighter jet programs.

These increases were partially offset by a slight reduction in the general industrial market, primarily due to reduced sales of industrial vehicle products to off-highway vehicle platforms.

Operating income in the third quarter increased $8 million, or 21%, to $45 million from the prior year period, and operating margin increased 190 basis points to 18.3%, primarily due to favorable overhead absorption on higher sales, the benefits of the Company's restructuring initiatives, and favorable product mix.

Operating income during the nine months ended September 30, 2025 increased $14 million , o r 14% , to $114 million from the prior year period, and operating margin increased 130 basis points to 16.0%, primarily due to favorable overhead absorption on higher sales, the benefits of the Company's restructuring initiatives, and favorable foreign currency translation.

New orders in the third quarter increased $29 million primarily due to an increase in orders for sensors and actuation products as well as surface treatment services within our A&D markets.

New orders during the nine months ended September 30, 2025 increased $49 million primarily due to an increase in orders for sensors products and surface treatment services within our A&D markets.

Sales during the three months ended March 31, 2026 increased $28 million, or 12%, to $255 million from the prior year period.

In the commercial aerospace market, sales increased $13 million primarily due to higher OEM sales of actuation equipment, sensors products, and surface treatment services on narrowbody and widebody platforms.

Sales in the aerospace defense market benefited from higher demand for sensors products, with sales increases in the ground defense market primarily due to higher sales of electromechanical actuation equipment.

Sales in the general industrial market benefited primarily from higher sales of industrial vehicle products to off-highway vehicle platforms.

Operating income during the three months ended March 31, 2026 increased $9 million, or 29%, to $38 million from the prior year period, and operating margin increased 190 basis points to 15.1%, primarily due to favorable overhead absorption on higher sales.

New orders during the three months ended March 31, 2026 increased $40 million, or 16%, from the prior year period to $291 million, primarily due an increase in orders for actuation products on aerospace defense equipment as well as an increase in orders for industrial vehicle products within our commercial markets.

Defense Electronics

The following tables summarize sales, operating income and margin, and new orders within the Defense Electronics segment.

Three Months Ended Nine Months Ended

September 30, September 30,

(In thousands) 2025 2024 % change 2025 2024 % change

Three Months Ended

(In thousands) 2026 2025 % change

Sales $ 256,288 $ 245,164 5 %

Operating income 71,927 67,449 7 %

Operating margin 29.2 % 26.2 % 300 bps 27.8 % 24.9 % 290 bps

New orders $ 250,467 $ 301,137 (17%) $ 719,735 $ 810,806 (11%)

Operating margin 28.1 % 27.5 % 60 bps

Components of sales and operating income increase (decrease):

Three Months Ended Nine Months Ended

September 30, September 30,

2024 2025 vs.

Sales Operating Income Sales Operating Income

Three Months Ended

Sales Operating Income

Organic 3 % 8 %

Restructuring — % 1 % — % 1 %

Foreign currency 2 % (1 %)

1 unchanged sentence

Sales in the Defense Electronics segment are primarily to the defense markets and, to a lesser extent, the commercial aerospace market.

Sales in the third quarter increased $10 million, or 4%, to $253 million from the prior year period.

In the naval defense market, sales increased primarily due to higher sales of embedded computing equipment supporting various domestic and international programs.

Sales in the commercial aerospace market primarily benefited from higher sales of embedded computing equipment on various international programs, partially offset by the timing of revenues on various domestic helicopter programs.

Sales during the nine months ended September 30, 2025 increased $68 million, or 10%, to $751 million from the prior year period.

In the aerospace defense market, sales increased $34 million primarily due to higher sales of embedded computing

Sales during the three months ended March 31, 2026 increased $11 million , or 5%, to $256 million from the prior year period.

Sales in the aerospace defense market benefited $13 million primarily due to higher demand for embedded computing and avionics equipment, partially offset by the timing of sales on various helicopter programs.

Sales increases in the commercial aerospace market were primarily due to higher sales of aerospace instrumentation equipment to OEM customers.

These increases were partially offset by lower sales in the naval defense market primarily due to the timing of embedded computing equipment sales supporting various domestic and international programs.

Operating income during the three months ended March 31, 2026 increased $4 million, or 7%, to $72 million, and operating margin increased 60 basis points from the prior year period to 28.1%, primarily due to favorable absorption on higher sales as well as favorable product mix.

These increases were partially offset by higher investment in research and development.

New orders during the three months ended March 31, 2026 increased $42 million, or 18%, from the prior year period to $278 million, primarily due to the timing of orders on naval and ground defense equipment.

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES

2 unchanged sentences

FINANCIAL CONDITION and RESULTS OF OPERATIONS, continued

equipment on various international programs as well as domestic unmanned aerial vehicle programs.

Sales in the naval defense market benefited $15 million primarily due to higher sales of embedded computing equipment supporting various domestic and international programs.

Sales in the ground defense market benefited $12 million primarily due to increased support for U.S.

ground vehicle modernization.

In the commercial aerospace market, sales benefited from increased demand and higher sales of our flight data recorder technology to OEM customers.

Operating income in the third quarter increased $10 million, or 16% , to $74 million compared to the prior year period, and operating margin increased 300 basis points from the prior year period to 29.2%, primarily due to favorable absorption on higher sales as well as the benefits from our operational excellence initiatives.

Operating income during the nine months ended September 30, 2025 increased $39 million , or 23% , to $209 million , and operating margin increased 290 basis points from the prior year period to 27.8%, primarily due to favorable absorption on higher sales, the benefits from our operational excellence initiatives, and favorable mix on defense electronics products.

New orders in the third quarter and nine months ended September 30, 2025 decreased $51 million and $91 million, respectively, primarily due to the timing of orders on aerospace and ground defense equipment, including embedded computing and tactical communications products.

Naval & Power

The following tables summarize sales, operating income and margin, and new orders within the Naval & Power segment.

Three Months Ended Nine Months Ended

September 30, September 30,

(In thousands) 2025 2024 % change 2025 2024 % change

Three Months Ended

(In thousands) 2026 2025 % change

Sales $ 402,480 $ 333,235 21 %

Operating income 59,777 41,863 43 %

Operating margin 15.7 % 16.2 % (50 bps) 14.7 % 14.4 % 30 bps

New orders $ 417,845 $ 329,717 27% $ 1,471,063 $ 1,241,239 19%

Operating margin 14.9 % 12.6 % 230 bps

Components of sales and operating income increase (decrease):

Three Months Ended Nine Months Ended

September 30, September 30,

2024 2025 vs.

Sales Operating Income Sales Operating Income

Three Months Ended

Sales Operating Income

Organic 20 % 43 %

Acquisitions 4 % (7 %) 6 % (4 %)

Restructuring — % — % — % — %

Foreign currency 1 % — %

1 unchanged sentence

Sales in the Naval & Power segment are primarily to the naval defense and power & process markets, and, to a lesser extent, the aerospace defense market.

Sales in the third quarter increased $41 million, or 12%, to $368 million from the prior year period.

In the naval defense market, sales increased $23 million primarily due to the timing of production on the Columbia-class and Virginia-class submarine programs as well as higher sales of aftermarket fleet services and aircraft handling systems equipment to international customers.

Sales in the power & process market increased $20 million primarily due to the incremental impact from our I&C Solutions acquisition as well as higher commercial nuclear aftermarket sales supporting the maintenance of existing operating reactors and development of next-generation advanced reactors.

Sales during the three months ended March 31, 2026 increased $69 million, or 21%, to $402 million from the prior year period.

In the naval defense market, sales increased $35 million primarily due to the timing of production on the Virginia-class and Columbia-class submarine programs, as well as higher sales of aftermarket fleet services.

Sales in the power & process market increased $25 million primarily due to higher sales of commercial nuclear products supporting the maintenance of existing operating reactors and transition from development to the initial prototype stage on next-generation advanced reactors.

In the aerospace defense market, sales increased $10 million primarily due to higher sales of arresting systems equipment supporting various international customers.

Operating income during the three months ended March 31, 2026 increased $18 million, or 43%, to $60 million, and operating margin increased 230 basis points from the prior year period to 14.9%, primarily due to favorable overhead absorption on higher sales as well as favorable product mix.

These increases were partially offset by higher investment in research and development.

New orders during the three months ended March 31, 2026 increased $85 million, or 16% , from the prior year period to $616 million , primarily due to an increase in orders for naval defense and commercial nuclear products.

SUPPLEMENTARY INFORMATION

The table below depicts sales by end market and customer type, as it helps provide an enhanced understanding of our businesses and the markets in which we operate.

The table has been included to supplement the discussion of our operating results.

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES

2 unchanged sentences

FINANCIAL CONDITION and RESULTS OF OPERATIONS, continued

Sales during the nine months ended September 30, 2025 increased $154 million, or 16%, to $1,086 million from the prior year period.

In the naval defense market, sales increased $92 million primarily due to higher demand and the timing of production on the Columbia-class and Virginia-class submarine programs as well as higher sales of aftermarket fleet services and aircraft handling systems equipment to international customers .

Sales in the power & process market increased $66 million primarily due to the incremental impact from our I&C Solutions acquisition as well as higher commercial nuclear aftermarket sales supporting the maintenance of existing operating reactors and development of next-generation advanced reactors.

Operating income in the third quarter increased $5 million , or 9% , to $58 million against the comparable prior year period, primarily due to favorable overhead absorption on higher sales as well as the benefits from our operational excellence initiatives.

These increases were partially offset by higher research and development in the current period.

Operating margin decreased 50 basis points from the prior year period to 15.7%, primarily due to first year purchase accounting costs associated with our acquisition of I&C Solutions as well as higher investment in research and development in the current period.

Operating income during the nine months ended September 30, 2025 increased 25 million, or 19% , to 160 million, and operating margin increased 30 basis points from the prior year period to 14.7%, primarily due to favorable overhead absorption on higher sales, an unfavorable prior year period naval contract adjustment that did not recur in the current period, as well as the benefits from our operational excellence initiatives.

These increases were partially offset by higher investment in research and development.

New orders in the third quarter and nine months ended September 30, 2025 increased $88 million and $230 million, respectively, primarily due to the timing of naval defense orders as well as an increase in orders for commercial nuclear products.

SUPPLEMENTARY INFORMATION

The table below depicts sales by end market and customer type, as it helps provide an enhanced understanding of our businesses and the markets in which we operate.

The table has been included to supplement the discussion of our consolidated operating results.

Total Net Sales by End Market and Customer Type Three Months Ended Nine Months Ended

September 30, September 30,

(In thousands) 2025 2024 % change 2025 2024 % change

Net Sales by End Market and Customer Type Three Months Ended

(In thousands) 2026 2025 % change

Aerospace & Defense markets:

10 unchanged sentences

Aerospace & Defense markets

Sales in the third quarter increased $52 million, or 9%, to $618 million against the comparable prior year period, primarily due to higher sales in the naval defense and commercial aerospace markets.

Sales in the naval defense market increased primarily

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES

PART I - ITEM 2

MANAGEMENT’S DISCUSSION and ANALYSIS of

FINANCIAL CONDITION and RESULTS OF OPERATIONS, continued

due to the timing of production on the Columbia-class and Virginia-class submarine programs as well as higher sales of aftermarket fleet services and aircraft handling systems equipment to international customers.

Sales in the naval defense market also benefitted from higher sales of embedded computing equipment supporting various domestic and international programs .

In the commercial aerospace market, sales increased primarily due to higher demand for actuation equipment, sensors products, and surface treatment services on various narrow-body and wide-body platforms as well as higher sales of our flight data recorder technology to OEM customers.

Sales during the nine months ended September 30, 2025 increased $191 million, or 12%, to $1,789 million, primarily due to higher sales across all markets.

Sales in the aerospace defense market increased primarily due to higher sales of embedded computing equipment on various international programs as well as domestic unmanned aerial vehicle programs.

Sales in the aerospace defense market also benefited from higher demand for actuation equipment on various fighter jet programs .

Sales in the ground defense market increased primarily due to higher sales of electromechanical actuation equipment as well as increased support for U.S.

ground vehicle modernization.

Sales increases in the naval defense market were primarily due to higher demand as well as the timing of production on the Columbia-class and Virginia-class submarine programs as well as higher sales of aftermarket fleet services and aircraft handling systems equipment to international customers.

Sales in the naval defense market also benefited from higher demand for embedded computing equipment supporting various domestic and international programs.

Sales in the commercial aerospace market primarily benefited from higher OEM demand for sensors products and surface treatment services on narrowbody and widebody platforms as well as increased demand and higher sales of our flight data recorder technology to OEM customers.

Sales during the three months ended March 31, 2026 increased $79 million, or 14%, to $641 million, primarily due to higher sales across all markets.

Sales in the aerospace defense market increased primarily due to higher sales of embedded computing and avionics equipment, arresting systems equipment supporting various international customers, and sensors products.

The ground defense market benefited primarily from higher sales of electromechanical actuation equipment.

Sales increases in the naval defense market were primarily due to the timing of production on the Virginia-class and Columbia-class submarine programs, as well as higher sales of aftermarket fleet services.

In the commercial aerospace market, sales increased primarily due to higher OEM sales of actuation equipment, sensors products, and surface treatment services on narrowbody and widebody platforms as well as higher sales of aerospace instrumentation equipment to OEM customers.

Commercial markets

Sales in the third quarter increased $19 million, or 8%, to $251 million against the comparable prior year period.

Sales in the power & process market increased primarily due to the incremental impact from our I&C Solutions acquisition as well as higher commercial nuclear aftermarket sales supporting the maintenance of existing operating reactors and development of next-generation advanced reactors.

Sales in the general industrial market were essentially flat.

Sales during the nine months ended September 30, 2025 increased $64 million, or 9%, to $762 million.

Sales in the power & process market increased primarily due to the incremental impact from our I&C Solutions and WSC acquisitions as well as higher commercial nuclear aftermarket sales supporting the maintenance of existing operating reactors and development of next-generation advanced reactors.

Sales in the general industrial market were essentially flat.

Sales during the three months ended March 31, 2026 increased $30 million, or 12%, to $272 million.

In the power & process market, sales increased primarily due to higher sales of commercial nuclear products supporting the maintenance of existing operating reactors and transition from development to the initial prototype stage on next-generation advanced reactors.

Sales in the general industrial market benefited primarily from higher sales of industrial vehicle products to off-highway vehicle platforms.

LIQUIDITY AND CAPITAL RESOURCES

4 unchanged sentences

In some cases, these payments can exceed the costs incurred on a project.

Condensed Consolidated Statements of Cash Flows Nine Months Ended

(In thousands) September 30, 2025 September 30, 2024

Cash provided by (used for):

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES

PART I - ITEM 2

MANAGEMENT’S DISCUSSION and ANALYSIS of

FINANCIAL CONDITION and RESULTS OF OPERATIONS, continued

Condensed Consolidated Statements of Cash Flows Three Months Ended

(In thousands) March 31, 2026 March 31, 2025

Cash provided by (used in):

Operating activities

5 unchanged sentences

Effect of exchange-rate changes on cash (2,714) 3,653

Net increase (decrease) in cash and cash equivalents (159,615) 36,983

Net cash provided by operating activities increased $48 million from the prior year period, primarily due to higher cash earnings.

This increase was partially offset by higher working capital.

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES

PART I - ITEM 2

MANAGEMENT’S DISCUSSION and ANALYSIS of

FINANCIAL CONDITION and RESULTS OF OPERATIONS, continued

Net cash used for investing activities decreased $17 million from the prior year period, primarily due to our acquisition of WSC in the prior year period.

This decrease was partially offset by higher capital expenditures in the Aerospace & Industrial and Naval & Power segments during the current period.

Net cash used for financing activities increased $267 million from the prior year period, primarily due to higher repurchases of common stock during the current period as well as the repayment of our $90 million 3.85% Senior Notes in February 2025.

Net decrease in cash and cash equivalents $ (27,898) $ (158,583)

Net cash used in operating activities decreased $33 million from the prior year period, primarily due to higher cash earnings and improved working capital in the current period.

Net cash used in investing activities decreased $13 million from the prior year period, primarily due to additional consideration paid in the prior year period pertaining to our I&C Solutions acquisition.

Net cash used in financing activities decreased $91 million from the prior year period, primarily due to the repayment of our 3.85% Senior Notes in February 2025.

Refer to the "Financing Activities" section below for further details.

Financing Activities

The Corporation’s debt outstanding had an average interest rate of 3.8% for both the three and nine months ended September 30, 2025, respectively, and 3.8% for both the three and nine months ended September 30, 2024, respectively.

The Corporation’s average debt outstanding was $982 million and $988 million for the three and nine months ended September 30, 2025, respectively, and $1.0 billion for both the three and nine months ended September 30, 2024, respectively.

The Corporation’s debt outstanding had an average interest rate o f 3.8% for both the three months ended March 31, 2026 and 2025.

The Corporation’s average debt outstanding was $965 million an d $1,021 million for the three months ended March 31, 2026 and 2025, respectively.

Credit Agreement

As of September 30, 2025, the Corporation had approximately $10 million of outstanding borrowings under the Credit Agreement and $26 million in letters of credit supported by the Credit Agreement.

The unused credit available under the Credit Agreement as of September 30, 2025 was $714 million, which could be borrowed without violating any of our debt covenants.

As of March 31, 2026, the Corporation had approximately $29 million in letters of credit supported by the credit facility.

The unused credit available under the credit facility as of March 31, 2026 was $721 million, which could be borrowed without violating any of our debt covenants.

Repurchase of common stock

During the nine months ended September 30, 2025, the Corporation repurchased approximately 684,000 shares of its common stock for $325 million.

During the nine months ended September 30, 2024, the Corporation repurchased approximately 455,000 shares of its common stock for $138 million.

For the three months ended March 31, 2026, the Corporation repurchased approximately 22,000 shares of its common stock for $14 million.

For the three months ended March 31, 2025, the Corporation repurchased approximately 42,000 shares of its common stock for $14 million.

Cash Utilization

1 unchanged sentence

We believe that our cash and cash equivalents, cash flow from operations, available borrowings under the credit facility, and ability to raise additional capital through the credit markets are sufficient to meet both the short-term and long-term capital needs of the organization.

The Corporation made dividend payments of $17 million and $16 million during the nine months ended September 30, 2025 and September 30, 2024, respectively.

Additionally, beginning in the second quarter of 2025, the Corporation increased its quarterly dividend to $0.24 per share.

Debt Compliance

As of the date of this report, we were in compliance with all debt agreements and credit facility covenants, including our most restrictive covenant, which is our debt to capitalization limit of 60%.

The debt to capitalization limit is a measure of our indebtedness (as defined per the notes purchase agreement and credit facility) to capitalization, where capitalization equals debt plus equity, and is the same for and applies to all of our debt agreements and credit facility.

As of September 30, 2025, we had the ability to borrow additional debt of $2.7 billion without violating our debt to capitalization covenant.

The debt to capitalization limit is a measure of our indebtedness (as defined in the notes purchase agreement and credit facility) to capitalization, where capitalization equals debt plus equity, and is the same for and applies to all of our debt agreements and credit facility.

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES

2 unchanged sentences

FINANCIAL CONDITION and RESULTS OF OPERATIONS, continued

As of March 31, 2026, we had the ability to borrow additional debt of approximately $2.9 billion without violating our debt to capitalization covenant.

CRITICAL ACCOUNTING POLICIES

5 unchanged sentences

Securities and Exchange Commission on February 12, 2026, in the Notes to the Consolidated Financial Statements, Note 1, and the Critical Accounting Policies section of Management’s Discussion and Analysis of Financial Condition and Results of Operations.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

There have been no material changes in our market risk during the nine months ended September 30, 2025.

Information regarding market risk and market risk management policies is more fully described in "Item 7A.

Quantitative and Qualitative Disclosures about Market Risk" of our 2024 Annual Report on Form 10-K.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements