Strong Start to 2025
Curtiss-Wright exceeded expectations with a 13% year-over-year increase in sales, reaching $806 million. Operating income increased by 34%, with a 260 basis point expansion in operating margins.
Record Backlog and New Orders
The company reported a record backlog exceeding $3.6 billion and new orders increased by 13% year-over-year to over $1 billion, resulting in a book-to-bill ratio of 1.26.
Raised Full Year 2025 Guidance
Curtiss-Wright raised its guidance for 2025, now expecting sales to grow by 8% to 9%. Operating margins are anticipated to increase by 80 to 100 basis points, reaching a record high of 18.3% to 18.5%.
Defense Electronics Segment Performance
The Defense Electronics segment saw a 16% sales growth and delivered a record first-quarter operating margin of 27.5%.
Positive Free Cash Flow Outlook
Free cash flow improved by 5% year-over-year in the first quarter, and the full-year guidance was raised to $495 million to $515 million, indicating a 27% increase over 2024.