Curtiss-Wright’s Q2 Earnings Call: Our Top 5 Analyst Questions

August 13, 2025 at 01:42 AM EDT

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Curtiss-Wright’s second quarter results for 2025 reflected strong growth across its key defense and commercial nuclear markets, though the market responded negatively following the release. Management attributed the quarter’s performance to robust demand in its Naval and Power segment and ongoing momentum in Defense Electronics, supported by a 12% year-over-year sales increase. CEO Lynn Bamford highlighted the company’s “continued deployment of our operational growth platform,” which enabled higher organic growth and margin expansion. Management also noted the impact of strong order intake, with a book-to-bill ratio above 1.1, and a growing backlog that now exceeds $3.8 billion.

Is now the time to buy CW? Find out in our full research report (it’s free).

Curtiss-Wright (CW) Q2 CY2025 Highlights:

Revenue: $876.6 million vs analyst estimates of $851 million (11.7% year-on-year growth, 3% beat)
Adjusted EPS: $3.23 vs analyst estimates of $3.13 (3.3% beat)
Adjusted EBITDA: $187.6 million vs analyst estimates of $184.9 million (21.4% margin, 1.4% beat)
The company slightly lifted its revenue guidance for the full year to $3.41 billion at the midpoint from $3.39 billion
Adjusted EPS guidance for the full year is $12.85 at the midpoint, roughly in line with what analysts were expecting
Operating Margin: 17.8%, up from 16.4% in the same quarter last year
Market Capitalization: $18.9 billion

While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention.

Our Top 5 Analyst Questions From Curtiss-Wright’s Q2 Earnings Call

Scott Deuschle (Deutsche Bank) asked about Curtiss-Wright’s strong commercial aerospace growth compared to industry peers. CFO K. Christopher Farkas explained that the company’s diverse OEM customer base and conservative planning positioned it to benefit from mixed trends across platforms, despite broader industry destocking concerns.
Peter J. Arment (Baird) questioned the sustainability of Defense Electronics margins. Farkas cited ongoing restructuring, throughput improvements, and pricing discipline as margin drivers, but also cautioned on potential disruptions from ERP implementation and product mix changes later in the year.
Myles Walton (Wolfe Research) inquired about the M&A pipeline and capital allocation strategy. CEO Lynn Bamford noted that while some acquisition targets did not meet strategic criteria, the company remains active in pursuing bolt-on deals and will prioritize returning capital to shareholders through buybacks and dividends when appropriate.
Michael Louie D DiPalma (William Blair) sought clarification on Curtiss-Wright’s role in large-scale defense programs like Golden Dome and next-generation command and control. Bamford confirmed involvement in multiple new starts and emphasized growth in tactical communications and edge computing products.
Nathan Hardie Jones (Stifel) addressed R&D investment priorities amid strong tailwinds. Bamford discussed incremental investments in nuclear capacity, flight data recorders, and subsea technology, highlighting a willingness to ramp capital spending if revenue visibility improves.

Catalysts in Upcoming Quarters

In the coming quarters, our analysts will focus on (1) the pace of order conversion and backlog monetization in defense, especially as government funding dynamics shift; (2) evidence of accelerated growth in commercial nuclear through new SMR projects and AP1000 reactor awards; and (3) Curtiss-Wright’s ability to maintain margin expansion while executing ERP upgrades and restructuring. Progress on M&A and new product introductions will also be important signposts for the company’s strategic execution.

Curtiss-Wright currently trades at $505, in line with $509.12 just before the earnings. Is the company at an inflection point that warrants a buy or sell? Find out in our full research report (it’s free).

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Curtiss-Wright’s Q2 Earnings Call: Our Top 5 Analyst Questions

Curtiss-Wright (CW) Q2 CY2025 Highlights:

Our Top 5 Analyst Questions From Curtiss-Wright’s Q2 Earnings Call

Catalysts in Upcoming Quarters

High-Quality Stocks for All Market Conditions

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