UNITED STATES	
SECURITIES AND EXCHANGE COMMISSION	
Washington, D.C. 20549	
 	
FORM 8-K	
 	
CURRENT REPORT	

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported): August 3, 2021
 
CURTISS-WRIGHT CORPORATION
(Exact Name of Registrant as Specified in Its Charter)
 
Delaware	 	001-00134	 	13-0612970	
(State or Other
Jurisdiction of
Incorporation)	 	(Commission File
Number)	 	(IRS Employer
Identification No.)	
 
130 Harbour Place Drive, Suite 300	 	
Davidson, NC	28036	
(Address of Principal Executive Offices)	(Zip Code)	
 
Registrant’s telephone number, including area code: (704) 869-4600
__________
Not applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered	
Common Stock	CW	New York Stock Exchange	

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

                                                                                                                              Emerging growth company          ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

SECTION 2 – FINANCIAL INFORMATION
 
ITEM 2.02.   RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

On Tuesday, August 3, 2021, the Company issued a press release announcing financial results for the second quarter ended June 30, 2021.  A conference call and webcast presentation will be held on Wednesday, August 4, 2021 at 10:00 am ET for management to discuss the Company’s second quarter 2021 financial results and updates to 2021 financial guidance. Lynn M. Bamford, President and Chief Executive Officer, and K. Christopher Farkas, Vice President and Chief Financial Officer, will host the call.  A copy of the press release and the webcast slide presentation are attached hereto as Exhibits 99.1 and 99.2.

The financial press release, access to the webcast, and the accompanying financial presentation will be posted on Curtiss-Wright's website at www.curtisswright.com. In addition, the Listen-Only dial-in number for domestic callers is (844) 220-4970, while international callers can dial (262) 558-6349.  For those unable to participate live, a webcast replay will be available for 90 days on the Company's website beginning one hour after the call takes place. A conference call replay will also be available for seven days.

Conference Call Replay:
Domestic           (855) 859-2056
International (404) 537-3406
Passcode 6349664

The information contained in this Current Report, including Exhibits 99.1 and 99.2, are being furnished and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities and Exchange Act of 1934 or otherwise subject to the liabilities of that Section. The information in this report shall not be incorporated by reference into any filing of the registrant with the SEC, whether made before or after the date hereof, regardless of any general incorporation language in such filings.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

         (a)  Not applicable.

         (b)  Not applicable.

(c)  Exhibits.

99.1 Press Release dated August 3, 2021

99.2 Presentation shown during investor and securities analyst webcast on August 4, 2021

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 	 	CURTISS-WRIGHT CORPORATION	

 	By:	/s/ K. Christopher Farkas	
 	 	K. Christopher Farkas	
 	 	Vice-President and	
 	 	Chief Financial Officer	

Date:      August 3, 2021	 	 	

EXHIBIT INDEX

Exhibit
Number	Description	
 	 	
99.1	Press Release dated August 3, 2021	
99.2	Presentation shown during investor and securities analyst webcast on August 4, 2021	

Exhibit 99.1

Curtiss-Wright Reports Second Quarter 2021 Financial Results; Raises Full-year 2021 Financial Guidance
DAVIDSON, N.C.--(BUSINESS WIRE)--August 3, 2021--Curtiss-Wright Corporation (NYSE: CW) reports financial results for the second quarter ended June 30, 2021.
Second Quarter 2021 Highlights:
·	Reported sales of $621 million, operating income of $95 million, operating margin of 15.2%, diluted earnings per share (EPS) of $1.49, and free cash flow of $66 million;
·	Adjusted sales of $609 million, up 14%;
·	Adjusted operating income of $95 million, up 24%;
·	Adjusted operating margin of 15.6%, up 120 basis points;
·	Adjusted diluted EPS of $1.56, up 22%; and
·	New orders of $679 million, up 11%, led by strong demand in our Commercial markets.
Raised Full-Year 2021 Financial Guidance:
·	Adjusted sales increased by $15 million due to ongoing recovery in general industrial market demand; Maintaining overall range of 7% to 9% sales growth;
·	Adjusted operating income increased to new range of 9% to 12% growth (previously 9% to 11%);
·	Adjusted operating margin increased by 10 basis points to new range of 16.7% to 16.8%, up 40 to 50 basis points compared with the prior year; and
·	Adjusted diluted EPS increased by $0.05 to new range of $7.15 to $7.35, up 9% to 12%.
“We delivered strong second quarter results, as Adjusted diluted EPS grew by 22%, led by solid sales growth across the majority of our markets, and improved profitability in the Aerospace & Industrial and Naval & Power segments,” said Lynn M. Bamford, President and CEO of Curtiss-Wright Corporation. “We also benefitted from the continued execution of our operational excellence initiatives and savings generated by our prior year restructuring actions to drive continued operating margin expansion. In addition, we continued to direct incrementally higher investments in research and development projects that target the highest growth vectors in our end markets and support our long-term organic growth. Based on our solid year-to-date results and outlook for the remainder of 2021, we have increased our full-year Adjusted guidance for sales, operating income, operating margin and diluted EPS.”
“As we introduced at our recent Investor Day event in May, we are executing with confidence on our new Pivot to Growth strategy to unlock significant value for our shareholders. Through a renewed focus on disciplined, strategic investments and the deployment of our new operational growth platform, we are well-positioned to deliver on our new three-year targets through 2023, which includes a 5% to 10% revenue CAGR, continued operating margin expansion with operating income growth greater than revenue growth, adjusted diluted EPS CAGR at or above 10%, and sustained free cash flow conversion above 110% on average.”

Second Quarter 2021 Operating Results

(In millions)	Q2-2021	Q2-2020	Change	
Reported sales	$	621.5	 	$	550.0	 	13%	
Adjustments (1)	 	(12.1	)	 	(17.3	)	 	
Adjusted sales (1)	$	609.4	 	$	532.7	 	14%	
Reported operating income	$	94.6	 	$	55.3	 	71%	
Adjustments (1)	 	0.5	 	 	21.2	 	 	
Adjusted operating income (1)	$	95.0	 	$	76.6	 	24%	
Adjusted operating margin (1)	 	15.6	%	 	14.4	%	120 bps	

	Amounts may not add due to rounding.	
(1)	Adjusted results exclude (i) our build-to-print actuation product line supporting the Boeing 737 MAX program which we exited and our German valves business, which was classified as held for sale, both in the fourth quarter of 2020 impacting both periods; (ii) first year purchase accounting costs associated with acquisitions in both periods; and (iii) a non-cash impairment of capitalized development costs related to a commercial aerospace program, one-time costs associated with the relocation of our DRG business in the Naval & Power segment, and restructuring costs, which impacted the prior year period.	
·	Adjusted sales of $609 million, up $77 million, or 14%;
·	Aerospace & Defense market sales increased 11%, led by strong growth in naval defense and the contribution of the PacStar acquisition in ground defense, which more than offset lower aerospace defense revenues;
·	Commercial market sales increased 21%, principally due to strong demand in the general industrial market, as well as higher power & process market sales;
·	Adjusted operating income was $95 million, up 24%, while Adjusted operating margin increased 120 basis points to 15.6%. This improvement was driven by favorable overhead absorption on higher organic revenues in both our Aerospace & Industrial and Naval & Power segments, as well as the benefits of our prior year restructuring and ongoing company-wide operational excellence initiatives, which were partially offset by $5 million in higher research and development investments; and
·	Non-segment expenses of $10 million increased by $2 million compared with the prior year, due to higher environmental and other corporate expenses.

Free Cash Flow

(In millions)	Q2-2021	Q2-2020	Change	
Net cash provided by operating activities	$	75.1	 	$	140.4	 	(47%)	
Capital expenditures	 	(9.2	)	 	(10.7	)	14%	
Free cash flow	$	65.8	 	$	129.7	 	(49%)	
Adjustment to capital expenditures (DRG facility investment) (1)	 	-	 	 	2.0	 	-	
Restructuring (1)	 	-	 	 	4.1	 	-	
Adjusted free cash flow (1)	$	65.8	 	$	135.8	 	(51%)	

	Amounts may not add due to rounding.	
(1)	Adjusted free cash flow excludes a capital investment related to the new state-of-the-art naval facility in the Naval & Power segment and the cash impact from restructuring in the prior year period.	
·	Free cash flow of $66 million, defined as cash flow from operations less capital expenditures, decreased $64 million, or 49%, principally driven by the timing of collections and tax payments, partially offset by higher net earnings;
·	Capital expenditures decreased $1 million compared with the prior year, primarily due to lower capital investments as a result of the completion of our new DRG facility within the Naval & Power segment; and
·	Adjusted free cash flow of $66 million, down $70 million, or 51%.
New Orders and Backlog
·	New orders of $679 million increased 11% compared with the prior year period, generating overall book to bill of approximately 1.1x, driven by strong demand in our Commercial markets, most notably for industrial vehicle products; and
·	Backlog of $2.2 billion improved slightly from December 31, 2020, principally reflecting the rebound in commercial market demand.
Share Repurchase and Dividends
·	During the second quarter, the Company repurchased 100,719 shares of its common stock for approximately $13 million;
·	Year-to-date, the Company repurchased 206,208 shares for approximately $25 million; and
·	During the quarter, the Board of Directors declared a 6% increase in the quarterly dividend to $0.18 per share.
Other Items – Business Held for Sale
·	During the fourth quarter of 2020, the Company classified its German valves business (previously within its Commercial/Industrial segment) as held for sale and its results have been adjusted from comparisons between our current and prior year results, and full-year financial guidance.

Second Quarter 2021 Segment Performance
Aerospace & Industrial

(In millions)	Q2-2021	Q2-2020	Change	
Reported sales	$	199.7	 	$	177.4	 	13%	
Adjustments (1)	 	(5.8	)	 	(11.7	)	 	
Adjusted sales (1)	$	193.9	 	$	165.7	 	17%	
Reported operating income	$	32.0	 	$	9.6	 	233%	
Adjustments (1)	 	(1.5	)	 	3.2	 	 	
Adjusted operating income (1)	$	30.5	 	$	12.8	 	138%	
Adjusted operating margin (1)	 	15.7	%	 	7.7	%	800 bps	

	Amounts may not add due to rounding.	
(1)	Adjusted results exclude our build-to-print actuation product line supporting the Boeing 737 MAX program which we exited in the fourth quarter of 2020 impacting both periods and restructuring costs in the prior year period.	
·	Reported results reflected sales of $200 million, operating income of $32 million and operating margin of 16.0%;
·	Adjusted sales of $194 million, up $28 million, or 17%;
·	General industrial market revenue increased by nearly 40%, led by strong industrial vehicle demand for on- and off-highway platforms, and higher sales of surface treatment services due to improving economic conditions;
·	Commercial aerospace market revenues were essentially flat, as higher sales of sensors products on narrowbody platforms were mainly offset by lower actuation sales on widebody platforms; and
·	Adjusted operating income was $30 million, up 138% from the prior year, while Adjusted operating margin increased 800 basis points to 15.7%, reflecting strong absorption on higher general industrial market sales, and the benefits of our ongoing operational excellence and prior year restructuring initiatives.

Defense Electronics

(In millions)	Q2-2021	Q2-2020	Change	
Reported sales	$	162.4	 	$	139.6	 	16%	
Adjustments (1)	 	1.1	 	 	0.2	 	 	
Adjusted sales (1)	$	163.4	 	$	139.8	 	17%	
Reported operating income	$	29.3	 	$	24.7	 	18%	
Adjustments (1)	 	1.6	 	 	8.8	 	 	
Adjusted operating income (1)	$	30.8	 	$	33.5	 	(8%)	
Adjusted operating margin (1)	 	18.9	%	 	24.0	%	(510 bps)	

	Amounts may not add due to rounding.	
(1)	Adjusted results exclude first year purchase accounting costs associated with acquisitions in both periods, and a non-cash impairment of capitalized development costs related to a commercial aerospace program and restructuring costs in the prior year period.	
·	Reported results reflected sales of $162 million, operating income of $29 million and operating margin of 18.0%;
·	Adjusted sales of $163 million, up $24 million, or 17%, principally driven by the contribution from the PacStar acquisition for tactical battlefield communications equipment within our ground defense market;
·	Aerospace defense market revenue declined due to the timing of sales of our embedded computing equipment on various programs;
·	Higher commercial aerospace market revenues reflect increased sales of avionics and flight test equipment on various domestic and international platforms; and
·	Adjusted operating income was $31 million, down 8% from the prior year, while Adjusted operating margin decreased 510 basis points to 18.9%, reflecting unfavorable mix in defense electronics and $4 million in higher research and development investments.

Naval & Power

(In millions)	Q2-2021	Q2-2020	Change	
Reported sales	$	259.4	 	$	233.0	 	11%	
Adjustments (1)	 	(7.4	)	 	(5.8	)	 	
Adjusted sales (1)	$	252.0	 	$	227.2	 	11%	
Reported operating income	$	43.1	 	$	29.1	 	48%	
Adjustments (1)	 	0.4	 	 	9.2	 	 	
Adjusted operating income (1)	$	43.5	 	$	38.3	 	13%	
Adjusted operating margin (1)	 	17.2	%	 	16.9	%	30 bps	

	Amounts may not add due to rounding.	
(1)	Adjusted results exclude our German valves business which was classified as held for sale in the fourth quarter of 2020 impacting both periods; and first year purchase accounting costs associated with acquisitions, one-time costs associated with the relocation of our DRG business and restructuring costs, all impacting the prior year period.	
	 	
·	Reported results reflected sales of $259 million, operating income of $43 million and operating margin of 16.6%;
·	Adjusted sales of $252 million, up $25 million, or 11%;
·	Strong naval defense market revenue growth primarily reflected higher production revenues on the CVN-80 and CVN-81 aircraft carrier programs;
·	Higher power & process market revenues reflected increased nuclear aftermarket maintenance supporting existing operating reactors, as well as higher industrial valve revenues to the oil and gas market; and
·	Adjusted operating income was $43 million, up 13% from the prior year, while Adjusted operating margin increased 30 basis points to 17.2%, driven by solid absorption on higher revenues, as well as the benefits of our prior year restructuring initiatives.

Full-Year 2021 Guidance
The Company is updating its full-year 2021 Adjusted financial guidance as follows:

(In millions, except EPS)	2021 Adjusted
Non-GAAP
Guidance
(Prior)	Changes to Adjusted Guidance	2021 Adjusted
Non-GAAP
Guidance
(Current)	2021 Adjusted Chg vs 2020 Restated	
Total Sales	$2,450 - $2,500	$15	$2,465 - $2,515	Up 7% - 9%	
Operating Income	$408 - $418	$3	$411 - $421	Up 9% - 12%	
Operating Margin	16.6% - 16.7%	10 bps	16.7% - 16.8%	Up 40 - 50 bps	
Effective Tax Rate	23.5%	50 bps	24.0%	 	
Diluted EPS	$7.10 - $7.30	$0.05	$7.15 - $7.35	Up 9% - 12%	
Diluted Shares Outstanding	41.3	(0.2)	41.1	 	
Free Cash Flow (FCF)	$330 - $360	-	$330 - $360	 	
Avg. FCF Conversion	~116%	-	~116%	 	

(1)	2021 Adjusted financial guidance used in comparisons to 2020 financial results excludes first year purchase accounting costs associated with acquisitions, as well as our build-to-print actuation product line supporting the Boeing 737 MAX program which we exited and our German valves business which was classified as held for sale, both in the fourth quarter of 2020.	
A more detailed breakdown of the Company’s 2021 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 in the new segment structure for 2020 and 2019 periods 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 second quarter 2021 financial results and updates to 2021 guidance at 10:00 a.m. ET on Wednesday, August 4, 2021. A live webcast of the call and the accompanying financial presentation, as well as a 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)

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES	
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (UNAUDITED)	
($'s in thousands, except per share data)	
 	 	 	 	 	 	 	 	 	 	
 	 	Three Months Ended	 	Six Months Ended	 	
 	 	June 30,	 	June 30,	 	
 	 	2021	 	 	2020	 	 	2021	 	 	2020	 	 	
 	 	 	 	 	 	 	 	 	 	
Product sales	 	$	515,392	 	 	 	$	466,445	 	 	 	$	1,024,367	 	 	 	$	964,374	 	 	 	
Service sales	 	106,103	 	 	 	83,602	 	 	 	194,187	 	 	 	186,904	 	 	 	
Total net sales	 	621,495	 	 	 	550,047	 	 	 	1,218,554	 	 	 	1,151,278	 	 	 	
 	 	 	 	 	 	 	 	 	 	
Cost of product sales	 	331,881	 	 	 	309,152	 	 	 	661,335	 	 	 	639,965	 	 	 	
Cost of service sales	 	64,895	 	 	 	54,869	 	 	 	122,743	 	 	 	124,708	 	 	 	
Total cost of sales	 	396,776	 	 	 	364,021	 	 	 	784,078	 	 	 	764,673	 	 	 	
 	 	 	 	 	 	 	 	 	 	
Gross profit	 	224,719	 	 	 	186,026	 	 	 	434,476	 	 	 	386,605	 	 	 	
 	 	 	 	 	 	 	 	 	 	
Research and development expenses	 	23,194	 	 	 	18,269	 	 	 	45,057	 	 	 	36,576	 	 	 	
Selling expenses	 	29,564	 	 	 	25,193	 	 	 	59,160	 	 	 	56,781	 	 	 	
General and administrative expenses	 	77,378	 	 	 	76,606	 	 	 	150,610	 	 	 	153,264	 	 	 	
Restructuring expenses	 	—	 	 	 	10,609	 	 	 	—	 	 	 	12,189	 	 	 	
 	 	 	 	 	 	 	 	 	 	
Operating income	 	94,583	 	 	 	55,349	 	 	 	179,649	 	 	 	127,795	 	 	 	
 	 	 	 	 	 	 	 	 	 	
Interest expense	 	10,180	 	 	 	8,515	 	 	 	20,139	 	 	 	16,004	 	 	 	
Other income, net	 	440	 	 	 	(4,105	)	 	 	5,283	 	 	 	1,427	 	 	 	
 	 	 	 	 	 	 	 	 	 	
Earnings before income taxes	 	84,843	 	 	 	42,729	 	 	 	164,793	 	 	 	113,218	 	 	 	
Provision for income taxes	 	(23,435	)	 	 	(11,711	)	 	 	(43,916	)	 	 	(30,439	)	 	 	
Net earnings	 	$	61,408	 	 	 	$	31,018	 	 	 	$	120,877	 	 	 	$	82,779	 	 	 	
 	 	 	 	 	 	 	 	 	 	
Net earnings per share:	 	 	 	 	 	 	 	 	 	
Basic earnings per share	 	$	1.50	 	 	 	$	0.75	 	 	 	$	2.95	 	 	 	$	1.97	 	 	 	
Diluted earnings per share	 	$	1.49	 	 	 	$	0.74	 	 	 	$	2.94	 	 	 	$	1.95	 	 	 	
 	 	 	 	 	 	 	 	 	 	
Dividends per share	 	$	0.18	 	 	 	$	0.17	 	 	 	$	0.35	 	 	 	$	0.34	 	 	 	
 	 	 	 	 	 	 	 	 	 	
Weighted average shares outstanding:	 	 	 	 	 	 	 	 	 	
Basic	 	40,915	 	 	 	41,629	 	 	 	40,921	 	 	 	42,092	 	 	 	
Diluted	 	41,088	 	 	 	41,855	 	 	 	41,092	 	 	 	42,362	 	 	 	

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES	
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)	
($'s in thousands, except par value)	
 	 	 	 	 	 	 	
 	 	 	June 30,	 	December 31,	 	
 	 	 	2021	 	 	2020	 	 	
Assets	 	 	 	 	 	
Current assets:	 	 	 	 	 	
 	Cash and cash equivalents	 	$	197,508	 	 	 	$	198,248	 	 	 	
 	Receivables, net	 	644,089	 	 	 	588,718	 	 	 	
 	Inventories, net	 	446,689	 	 	 	428,879	 	 	 	
 	Assets held for sale	 	29,687	 	 	 	27,584	 	 	 	
 	Other current assets	 	83,417	 	 	 	57,395	 	 	 	
 	Total current assets	 	1,401,390	 	 	 	1,300,824	 	 	 	
Property, plant, and equipment, net	 	366,789	 	 	 	378,200	 	 	 	
Goodwill	 	1,466,735	 	 	 	1,455,137	 	 	 	
Other intangible assets, net	 	568,604	 	 	 	609,630	 	 	 	
Operating lease right-of-use assets, net	 	144,274	 	 	 	150,898	 	 	 	
Prepaid pension asset	 	105,963	 	 	 	92,531	 	 	 	
Other assets	 	31,230	 	 	 	34,114	 	 	 	
 	Total assets	 	$	4,084,985	 	 	 	$	4,021,334	 	 	 	
 	 	 	 	 	 	 	
Liabilities	 	 	 	 	 	
Current liabilities:	 	 	 	 	 	
 	Current portion of long-term and short-term debt	 	100,000	 	 	 	100,000	 	 	 	
 	Accounts payable	 	166,253	 	 	 	201,237	 	 	 	
 	Accrued expenses	 	133,264	 	 	 	146,833	 	 	 	
 	Deferred revenue	 	260,358	 	 	 	253,411	 	 	 	
 	Liabilities held for sale	 	10,573	 	 	 	10,141	 	 	 	
 	Other current liabilities	 	104,024	 	 	 	98,755	 	 	 	
 	Total current liabilities	 	774,472	 	 	 	810,377	 	 	 	
Long-term debt	 	957,504	 	 	 	958,292	 	 	 	
Deferred tax liabilities, net	 	121,895	 	 	 	115,007	 	 	 	
Accrued pension and other postretirement benefit costs	 	97,143	 	 	 	98,345	 	 	 	
Long-term operating lease liability	 	127,136	 	 	 	133,069	 	 	 	
Long-term portion of environmental reserves	 	14,655	 	 	 	15,422	 	 	 	
Other liabilities	 	97,476	 	 	 	103,248	 	 	 	
 	Total liabilities	 	2,190,281	 	 	 	2,233,760	 	 	 	
 	 	 	 	 	 	 	
Stockholders' equity	 	 	 	 	 	
Common stock, $1 par value	 	49,187	 	 	 	49,187	 	 	 	
Additional paid in capital	 	119,946	 	 	 	122,535	 	 	 	
Retained earnings	 	2,776,884	 	 	 	2,670,328	 	 	 	
Accumulated other comprehensive loss	 	(297,531	)	 	 	(310,856	)	 	 	
Less: cost of treasury stock	 	(753,782	)	 	 	(743,620	)	 	 	
 	Total stockholders' equity	 	1,894,704	 	 	 	1,787,574	 	 	 	
 	 	 	 	 	 	 	
 	Total liabilities and stockholders' equity	 	$	4,084,985	 	 	 	$	4,021,334	 	 	 	

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES	
SEGMENT INFORMATION (UNAUDITED)(1)	
($'s in thousands)	

 	 	Three Months Ended	 	Six Months Ended	
 	 	June 30,	 	June 30,	
 	 	 	 	 	 	Change	 	 	 	 	 	Change	
 	 	 	2021	 	 	 	2020	 	 	%	 	 	2021	 	 	 	2020	 	 	%	
Sales:	 	 	 	 	 	 	 	 	 	 	 	 	
Aerospace & Industrial	 	$	199,713	 	 	$	177,411	 	 	13	%	 	$	380,044	 	 	$	404,139	 	 	(6	%)	
Defense Electronics	 	 	162,351	 	 	 	139,613	 	 	16	%	 	 	343,563	 	 	 	279,194	 	 	23	%	
Naval & Power	 	 	259,431	 	 	 	233,023	 	 	11	%	 	 	494,947	 	 	 	467,945	 	 	6	%	
 	 	 	 	 	 	 	 	 	 	 	 	 	
Total sales	 	$	621,495	 	 	$	550,047	 	 	13	%	 	$	1,218,554	 	 	$	1,151,278	 	 	6	%	
 	 	 	 	 	 	 	 	 	 	 	 	 	
Operating income (expense):													
Aerospace & Industrial	 	$	31,977	 	 	$	9,615	 	 	233	%	 	$	51,002	 	 	$	41,755	 	 	22	%	
Defense Electronics	 	 	29,271	 	 	 	24,736	 	 	18	%	 	 	65,894	 	 	 	48,799	 	 	35	%	
Naval & Power	 	 	43,095	 	 	 	29,146	 	 	48	%	 	 	81,152	 	 	 	57,256	 	 	42	%	
 	 	 	 	 	 	 	 	 	 	 	 	 	
Total segments	 	$	104,343	 	 	$	63,497	 	 	64	%	 	$	198,048	 	 	$	147,810	 	 	34	%	
Corporate and other	 	 	(9,760	)	 	 	(8,148	)	 	(20	%)	 	 	(18,399	)	 	 	(20,015	)	 	8	%	
 	 	 	 	 	 	 	 	 	 	 	 	 	
Total operating income	 	$	94,583	 	 	$	55,349	 	 	71	%	 	$	179,649	 	 	$	127,795	 	 	41	%	
 	 	 	 	 	 	 	 	 	 	 	 	 	
Operating margins:													
Aerospace & Industrial	 	 	16.0	%	 	 	5.4	%	 	1,060 bps	 	 	13.4	%	 	 	10.3	%	 	310 bps	
Defense Electronics	 	 	18.0	%	 	 	17.7	%	 	30 bps	 	 	19.2	%	 	 	17.5	%	 	170 bps	
Naval & Power	 	 	16.6	%	 	 	12.5	%	 	410 bps	 	 	16.4	%	 	 	12.2	%	 	420 bps	
Total Curtiss-Wright	 	 	15.2	%	 	 	10.1	%	 	510 bps	 	 	14.7	%	 	 	11.1	%	 	360 bps	
 	 	 	 	 	 	 	 	 	 	 	 	 	
Segment margins	 	 	16.8	%	 	 	11.5	%	 	530 bps	 	 	16.3	%	 	 	12.8	%	 	350 bps	
 	 	 	 	 	 	 	 	 	 	 	 	 	
(1) Amounts reported under realigned segment reporting structure.	 	 	 	 	

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES	 	
RECONCILIATION OF REPORTED SALES TO ADJUSTED SALES BY END MARKET (UNAUDITED)	 	
($'s in thousands)	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
 	 	Three Months Ended	 	Three Months Ended	 	 	
 	 	June 30, 2021	 	June 30, 2020	 	2021 vs. 2020	
 	 	Reported Sales	 	Adjustments	 	Adjusted Sales	 	Reported Sales	 	Adjustments	 	Adjusted Sales	 	Change in
Adjusted Sales	
Aerospace & Defense markets:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Aerospace Defense (1)	 	$	99,977	 	 	$	—	 	 	$	99,977	 	 	$	109,305	 	 	$	201	 	 	$	109,506	 	 	(9%)	
Ground Defense (1)	 	48,221	 	 	1,080	 	 	49,301	 	 	20,029	 	 	—	 	 	20,029	 	 	146%	
Naval Defense	 	177,724	 	 	—	 	 	177,724	 	 	164,941	 	 	—	 	 	164,941	 	 	8%	
Commercial Aerospace (2)	 	71,555	 	 	(5,784)	 	 	65,771	 	 	71,084	 	 	(11,710)	 	 	59,374	 	 	11%	
Total Aerospace & Defense	 	$	397,477	 	 	$	(4,704)	 	 	$	392,773	 	 	$	365,359	 	 	$	(11,509)	 	 	$	353,850	 	 	11%	
 	
Commercial markets:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Power & Process (3)	 	125,333	 	 	(7,413)	 	 	117,920	 	 	112,787	 	 	(5,835)	 	 	106,952	 	 	10%	
General Industrial	 	98,685	 	 	—	 	 	98,685	 	 	71,901	 	 	—	 	 	71,901	 	 	37%	
Total Commercial	 	224,018	 	 	(7,413)	 	 	216,605	 	 	184,688	 	 	(5,835)	 	 	178,853	 	 	21%	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Curtiss-Wright	 	$	621,495	 	 	$	(12,117)	 	 	$	609,378	 	 	$	550,047	 	 	$	(17,344)	 	 	$	532,703	 	 	14%	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
 	 	Six Months Ended	 	Six Months Ended	 	 	
 	 	June 30, 2021	 	June 30, 2020	 	2021 vs. 2020	
 	 	Reported Sales	 	Adjustments	 	Adjusted Sales	 	Reported Sales	 	Adjustments	 	Adjusted Sales	 	Change in
Adjusted Sales	
Aerospace & Defense markets:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Aerospace Defense (1)	 	$	210,993	 	 	$	—	 	 	$	210,993	 	 	$	211,133	 	 	$	201	 	 	$	211,334	 	 	0%	
Ground Defense (1)	 	103,967	 	 	2,160	 	 	106,127	 	 	42,686	 	 	—	 	 	42,686	 	 	149%	
Naval Defense	 	355,629	 	 	—	 	 	355,629	 	 	330,633	 	 	—	 	 	330,633	 	 	8%	
Commercial Aerospace (2)	 	128,824	 	 	(8,383)	 	 	120,441	 	 	171,765	 	 	(30,405)	 	 	141,360	 	 	(15%)	
Total Aerospace & Defense	 	$	799,413	 	 	$	(6,223)	 	 	$	793,190	 	 	$	756,217	 	 	$	(30,204)	 	 	$	726,013	 	 	9%	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Commercial markets:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Power & Process (3)	 	230,837	 	 	(12,996)	 	 	217,841	 	 	236,713	 	 	(12,708)	 	 	224,005	 	 	(3%)	
General Industrial	 	188,304	 	 	—	 	 	188,304	 	 	158,348	 	 	—	 	 	158,348	 	 	19%	
Total Commercial	 	$	419,141	 	 	$	(12,996)	 	 	$	406,145	 	 	$	395,061	 	 	$	(12,708)	 	 	$	382,353	 	 	6%	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Curtiss-Wright	 	$	1,218,554	 	 	$	(19,219)	 	 	$	1,199,335	 	 	$	1,151,278	 	 	$	(42,912)	 	 	$	1,108,366	 	 	8%	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
(1) Adjustments exclude first year purchase accounting adjustments associated with acquisitions.	
(2) Adjustments exclude our build-to-print actuation product line supporting the Boeing 737 MAX program which we exited in the fourth quarter of 2020.	
(3) Adjustments exclude our German valves business which was classified as held for sale in the fourth quarter of 2020.	

Use 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 non-GAAP measures provide investors with additional insight into the Company’s ongoing business performance. 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.
The Company’s presentation of its financials and guidance includes an Adjusted (non-GAAP) view that excludes (i) the results of a build-to-print actuation product line supporting the Boeing 737 MAX program which we exited and a German valves business classified as held for sale, both in the fourth quarter of 2020; (ii) significant restructuring costs in 2020 associated with its operations, including one-time actions taken in response to COVID-19; (iii) a non-cash impairment of capitalized development costs related to a commercial aerospace program in the prior period; (iv) first year purchase accounting costs associated with its acquisitions in both periods, including one-time inventory step-up, backlog amortization, deferred revenue adjustments and transaction costs; and (v) one-time transition and IT security costs, and capital investments, specifically associated with the relocation of the DRG business in the Naval & Power segment in the prior period. Transition costs include relocation of employees and equipment as well as overlapping facility and labor costs associated with the relocation. We believe this Adjusted view will provide improved transparency in order to better measure Curtiss-Wright’s ongoing operating and financial performance and better comparisons of our key financial metrics to our peers. 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 Sales, Operating Income, Operating Margin, Net Earnings and Diluted Earnings per Share (EPS) under GAAP excluding: (i) the impact of first year purchase accounting costs associated with acquisitions for current and prior year periods, specifically one-time inventory step-up, backlog amortization, deferred revenue adjustments and transaction costs; (ii) one-time transition and IT security costs associated with the relocation of a business in the prior year period; (iii) the non-cash impairment of capitalized development costs related to a commercial aerospace program in the prior year period; (iv) significant restructuring costs in 2020 associated with its operations, (v) a build-to-print actuation product line supporting the Boeing 737 MAX program which we exited, and (vi) the results of a German valves business classified as held for sale in the fourth quarter of 2020.
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 the impact of restructuring costs, foreign currency fluctuations and contributions from acquisitions made during the last twelve months.

 	Three Months Ended	
 	June 30,	
 	2021 vs. 2020	
 	Aerospace & Industrial	 	Defense Electronics	 	Naval & Power	 	Total Curtiss-Wright	
 	Sales	 	Operating
income	 	Sales	 	Operating
income	 	Sales	 	Operating
income	 	Sales	 	Operating
income	
Organic	10%	 	174%	 	(6%)	 	12%	 	10%	 	24%	 	6%	 	46%	
Acquisitions	0%	 	0%	 	22%	 	9%	 	0%	 	0%	 	6%	 	4%	
Restructuring	0%	 	59%	 	0%	 	7%	 	0%	 	26%	 	0%	 	26%	
Foreign Currency	3%	 	0%	 	0%	 	(10%)	 	1%	 	(2%)	 	1%	 	(5%)	
Total	13%	 	233%	 	16%	 	18%	 	11%	 	48%	13%	 	71%	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
 	Six Months Ended	
 	June 30,	
 	2021 vs. 2020	
 	Aerospace & Industrial	 	Defense Electronics	 	Naval & Power	 	Total Curtiss-Wright	
 	Sales	 	Operating
income	 	Sales	 	Operating
income	 	Sales	 	Operating
income	 	Sales	 	Operating
income	
Organic	(8%)	 	8%	 	(1%)	 	26%	 	4%	 	28%	 	(1%)	 	26%	
Acquisitions	0%	 	0%	 	23%	 	12%	 	0%	 	0%	 	6%	 	4%	
Restructuring	0%	 	14%	 	0%	 	5%	 	0%	 	16%	 	0%	 	14%	
Foreign Currency	2%	 	0%	 	1%	 	(8%)	 	2%	 	(2%)	 	1%	 	(3%)	
Total	(6%)	 	22%	 	23%	 	35%	 	6%	 	42%	6%	 	41%	

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 cash flow provided by operating activities less capital expenditures. Adjusted free cash flow for 2020 excludes: (i) a capital investment in the Naval & Power segment related to the new, state-of-the-art naval facility principally for DRG; (ii) a voluntary contribution to the Company’s corporate defined benefit pension plan made in the first quarter of 2020; and (iii) the cash impact from restructuring in 2020. The Corporation discloses adjusted free cash flow conversion because it measures the proportion of net earnings converted into free cash flow and is defined as adjusted free cash flow divided by adjusted net earnings.

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES	
NON-GAAP FINANCIAL DATA (UNAUDITED)	
($'s in thousands)	

 	 	Three Months Ended	 	Six Months Ended	
 	 	June 30,	 	June 30,	
 	 	2021	 	2020	 	2021	 	2020	
 	 	 	 	 	 	 	 	 	
Net cash provided by operating activities	$	75,079	 	 	$	140,367	 	 	$	48,476	 	 	$	(52,209)	 	
Capital expenditures	(9,234)	 	 	(10,687)	 	 	(17,771)	 	 	(29,324)	 	
Free cash flow	$	65,845	 	 	$	129,680	 	 	$	30,705	 	 	$	(81,533)	 	
Voluntary pension contribution	 	—	 	 	—	 	 	—	 	 	150,000	 	
Adjustment to capital expenditures (DRG facility investment)	 	—	 	 	1,998	 	 	—	 	 	9,675	 	
Restructuring	 	—	 	 	4,076	 	 	—	 	 	4,741	 	
Adjusted free cash flow	$	65,845	 	 	$	135,754	 	 	$	30,705	 	 	$	82,883	 	
Adjusted free cash flow conversion	101	%	 	247	%	 	24	%	 	74	%	

CURTISS-WRIGHT CORPORATION	
2021 Guidance (New Segment Structure)	
As of August 3, 2021	
($'s in millions, except per share data)	
															 	
		2020
Adjusted
Non-GAAP) (1)	 	Exiting
Non-Core
Operations	 	2020
Adjusted (2,4)
(Non-GAAP)	 	2021
Reported
Guidance
(GAAP)	 	Exiting
Non-Core
Operations	2021
Adjustments (3)
(Non-GAAP)	 	2021
Adjusted Guidance (3)
(Non-GAAP)	
								Low	High					Low	High		2021 Chg vs
2020 Adjusted	
Sales:																		
Aerospace & Industrial		$	805	 		$	(67	)		$	738	 		$	774	 	$	789	 		$	(14	)	$	-	 		$	760	 	$	775	 		3 - 5	%	
Defense Electronics		 	611	 		 	-	 		 	611	 		 	745	 	 	760	 		 	-	 	 	-	 		 	745	 	 	760	 		22 - 24	%	
Naval & Power		 	977	 		 	(26	)		 	951	 		 	991	 	 	1,011	 		 	(31	)	 	-	 		 	960	 	 	980	 		1 - 3	%	
Total sales		$	2,393	 		$	(93	)		$	2,300	 		$	2,510	 	$	2,560	 		$	(45	)	$	-	 		$	2,465	 	$	2,515	 		7 to 9%	
																	 	
Operating income:																		
Aerospace & Industrial		$	114	 		$	(16	)		$	98	 		$	117	 	$	120	 		$	(2	)	$	-	 		$	115	 	$	118	 		17 - 21	%	
Defense Electronics		 	144	 		 	-	 		 	144	 		 	153	 	 	158	 		 	-	 	 	6	 		 	159	 	 	164	 		10 - 13	%	
Naval & Power		 	171	 		 	-	 		 	171	 		 	176	 	 	181	 		 	(2	)	 	-	 		 	174	 	 	179	 		2 - 5	%	
Total segments		 	429	 		 	(16	)		 	413	 		 	446	 	 	459	 		 	(4	)	 	6	 		 	448	 	 	461	 			
Corporate and other		 	(38	)		 	-	 		 	(38	)		 	(37	)	 	(39	)		 	-	 	 	-	 		 	(37	)	 	(39	)			
Total operating income		$	391	 		$	(16	)		$	375	 		$	409	 	$	419	 		$	(4	)	$	6	 		$	411	 	$	421	 		9 to 12%	
																	 	
Interest expense		$	(36	)		$	-	 		$	(36	)		$	(41	)	$	(41	)		$	-	 	$	-	 		$	(41	)	$	(41	)			
Other income, net		 	21	 		 	-	 		 	21	 		 	13	 	 	13	 		 	-	 	 	3	 		 	16	 	 	17	 			
Earnings before income taxes		 	377	 		 	(16	)		 	361	 		 	381	 	 	392	 		 	(4	)	 	9	 		 	386	 	 	397	 			
Provision for income taxes		 	(88	)		 	4	 		 	(85	)		 	(91	)	 	(94	)		 	1	 	 	(2	)		 	(93	)	 	(95	)			
Net earnings		$	289	 		$	(12	)		$	277	 		$	290	 	$	298	 		$	(3	)	$	7	 		$	294	 	$	302	 			
																	 	
Diluted earnings per share		$	6.87	 		$	(0.29	)		$	6.59	 		$	7.05	 	$	7.25	 		$	(0.07	)	$	0.17	 		$	7.15	 	$	7.35	 		9 to 12%	
Diluted shares outstanding		 	42.0	 				 	42.0	 		 	41.1	 	 	41.1	 					 	41.1	 	 	41.1	 			
Effective tax rate		 	23.4	%				 	23.4	%		 	24.0	%	 	24.0	%					 	24.0	%	 	24.0	%			
																	 	
Operating margins:																		
Aerospace & Industrial		 	14.2	%		 	NM	 		 	13.3	%		 	15.1	%	 	15.2	%		+10 bps	 	-	 		 	15.1	%	 	15.3	%		180 to 200 bps	
Defense Electronics		 	23.6	%		 	NM	 		 	23.6	%		 	20.5	%	 	20.7	%		 	-	 	+80 bps		 	21.3	%	 	21.5	%		(210 to 230 bps)	
Naval & Power		 	17.5	%		 	NM	 		 	18.0	%		 	17.8	%	 	17.9	%		+40 bps	 	-	 		 	18.2	%	 	18.3	%		20 to 30 bps	
Total operating margin		 	16.3	%		 	NM	 		 	16.3	%		 	16.3	%	 	16.4	%		+20 bps	+20 bps		 	16.7	%	 	16.8	%		40 to 50 bps	
																	 	
Free cash flow		$	394	 		$	-	 		$	394	 		$	330	 	$	360	 		 	-	 	 	-	 		$	330	 	$	360	 			
																	 	
Notes: Full year amounts may not add due to rounding. All financial information by reportable segment for the 2020 and 2021 reporting periods reflects the Corporation’s first quarter 2021 segment reorganization.	
(1) A reconciliation of our 2020 GAAP to our 2020 Non-GAAP Adjusted figures are provided in our February 24, 2021 press release.	
(2) 2020 Adjusted financials are defined as Reported Operating Income, Operating Margin, Net Income and Diluted EPS under GAAP excluding restructuring costs, first year purchase accounting costs, specifically one-time backlog amortization and transaction costs associated with acquisitions, a non-cash impairment of capitalized development costs related to a commercial aerospace program, and one-time transition and IT security costs related to the relocation of the DRG business, as well as a $10 million non-cash currency translation loss (within non-operating income) related to the liquidation of a foreign legal entity. 2020 financial results excludes our build-to-print actuation product line supporting the Boeing 737 MAX program which we exited, as well as our German valves business which was classified as held for sale, both in the fourth quarter of 2020.	
(3) 2021 Adjusted financials are defined as Reported Operating Income, Operating Margin, Net Income and Diluted EPS under GAAP excluding our build-to-print actuation product line supporting the Boeing 737 MAX program which we exited, as well as our German valves business which was classified as held for sale, both in the fourth quarter of 2020, first year purchase accounting costs, specifically one-time backlog amortization and transaction costs associated with acquisitions, and a one-time, $3 million pension settlement charge related to the retirement of two former executives (within non-operating income).	
(4) Free Cash Flow is defined as cash flow from operations less capital expenditures. 2020 Adjusted Free Cash Flow guidance excludes a $150 million voluntary contribution made in January to the Company’s corporate defined benefit pension plan, a $20 million cash impact from restructuring, and a $10 million capital investment related to the new, state-of-the-art naval facility principally for DRG.	

				 	
CURTISS-WRIGHT CORPORATION	
2021 Sales Growth Guidance by End Market	
As of August 3, 2021	
				 	
		2021 % Change vs 2020	 	
Aerospace & Defense Markets		Prior	Current	% Total Sales	
Aerospace Defense		2 - 4%	2 - 4%	19%	
Ground Defense		100 - 105%	100 - 105%	9%	
Naval Defense		Flat	0 - 2%	28%	
Commercial Aerospace		Flat	Flat	10%	
Total Aerospace & Defense		7 - 9%	7 - 9%	66%	
		 	 	 	
Commercial Markets		 	 	 	
Power & Process		3 - 5%	1 - 3%	18%	
General Industrial		9 - 11%	15 - 17%	15%	
Total Commercial		6 - 8%	6 - 8%	34%	
		 	 	 	
Total Curtiss-Wright Sales		7 - 9%	7 - 9%	100%	
				 	
Note: Amounts may not add due to rounding.	
(1) This table reflects the Company's first quarter 2021 End Market Structure and Realignment, where all Commercial Aerospace market revenues shifted into a newly defined Total Aerospace & Defense market.	
(2) The Power & Process end market is comprised of a) Nuclear and b) Process, while the General Industrial end market is comprised of a) Industrial Vehicles and b) Industrial Automation and Services.	
(3) Based on these changes, all of our general industrial businesses operate within the Aerospace & Industrial segment, and the majority of the Company’s nuclear and process revenues operate within the Naval & Power segment.	

About Curtiss-Wright Corporation
Curtiss-Wright Corporation (NYSE:CW) is a global innovative company that delivers highly engineered, critical function products and services to the Aerospace and Defense markets, and to the Commercial markets including Power, Process and General Industrial. Building on the heritage of Glenn Curtiss and the Wright brothers, Curtiss-Wright has a long tradition of providing reliable solutions through trusted customer relationships. The company employs approximately 8,200 people worldwide. For more information, visit www.curtisswright.com.
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, future cash flow from operations, and potential impacts of the COVID-19 pandemic are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended ("Securities Act"), Section 21E of the Securities Exchange Act of 1934, as amended ("Exchange Act") and 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; changes in the competitive marketplace and/or customer requirements; a change in government spending; an inability to perform customer contracts at anticipated cost levels; the impact of a global pandemic or national epidemic, 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, 2020 and subsequent reports filed with the Securities and Exchange Commission.
This press release and additional information are available at www.curtisswright.com.
Contacts
Jim Ryan
(704) 869-4621
Jim.Ryan@curtisswright.com

Exhibit 99.2