Curtiss-Wright: 3 Key Takeaways for Long-Term Investors
On its third-quarter 2026 earnings call, held on Nov. 5, 2026, Curtiss-Wright (CW -4.04%) raised its full-year guidance across all major financial metrics after quarterly sales grew 10% year over year. Order momentum in defense and commercial nuclear markets provides long-term revenue visibility extending into the next decade. Three key takeaways from management explain how the company is positioning itself for sustained growth.
1. Commercial Nuclear Partnerships Expand Content Value
Curtiss-Wright is expanding its footprint in commercial nuclear power by supplying critical valves, pumps, and sensors for both traditional power plants and small modular reactors, which are compact nuclear reactors built in factories for faster deployment. Securing high-value design packages on platforms like the Rolls-Royce small modular reactor creates a multiyear revenue stream tied to global energy demand.
As a result, we now estimate our current content on the Rolls Royce SMR plant to be in excess of $100 million of revenue.
— Lynn Bamford, Chair and Chief Executive Officer
2. Record Order Backlog Secures Multiyear Defense Growth
Defense order bookings rose 27% in the Defense Electronics segment, driving total order backlog, which represents funded customer orders awaiting delivery, to $4.6 billion. Higher defense spending by the U.S. Department of Defense and NATO allies on fighter jets, naval shipbuilding, and tactical communications equipment ensures sustained demand for production.
Overall, Curtiss Wright’s robust and strengthening pipeline of new orders adds to an already strong backlog which is now up 12% year to date to a new record of approximately $4.6 billion
— Lynn Bamford, Chair and Chief Executive Officer
3. Supply Chain Management Protects Fourth-Quarter Delivery
To prevent component shortages from disrupting shipments of electronic assemblies, management created dedicated teams and purchased critical memory microchips in advance. Securing inventory ahead of time protects sales delivery schedules and operating margins, which measure the profit remaining after production costs are deducted.
If you look at it from the supply chain side, we saw early warning signs of component shortages last year and quickly took actions to secure component parts.
— Gary A. Ogilby, Senior Vice President Interim Chief Financial Officer, and Corporate Controller
Looking Ahead
Operational velocity and global facility expansions are accelerating across core markets, backed by rising NATO defense spending and long-term nuclear supply contracts. Entrenched positions on key flight platforms and specialized naval propulsion equipment provide structural market advantages as management allocates capital toward global infrastructure.
Several key priorities will help sustain our strong momentum, including continuing to drive execution velocity by streamlining our processes and increasing our market responsiveness and utilizing our strong free cash flow position to fuel the expansion of our operations globally across both existing and new facilities.
— Kevin Rayment, Executive Vice President and Chief Operating Officer
Free cash flow conversion rates above 105% give management the flexibility to compound earnings at a mid-teens percentage pace while funding strategic plant expansions.
I look forward to building on Curtiss-Wright’s successful strategy sustained profitable growth in 2027 and beyond. And continuing to deliver long term value for our shareholders.
— Kevin Rayment, Executive Vice President and Chief Operating Officer
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