Aerospace and defense company Curtiss-Wright (NYSE: CW) beat Wall Street’s revenue expectations in Q3 2026, with revenue up 9.6% year on year to $952.6 million. The company expects the full year’s revenue to be around $3.82 billion, close to analysts’ consensus estimates. Its non-GAAP profit of $3.94 per share was 4.8% above analysts’ consensus estimates.
For more on Curtiss-Wright, read our full research report for free.
Curtiss-Wright (CW) Q3 2026 highlights:
- Revenue $952.6 million vs S&P analysts’ consensus estimates of $935.8 million (9.6% year-on-year growth, 1.8% beat)
- Adjusted EPS $3.94 vs S&P analysts’ consensus estimates of $3.76 (4.8% beat)
- Revenue guidance The company slightly lifted its revenue guidance for the full year to $3.82 billion at the midpoint from $3.79 billion
- Adjusted EPS guidance Management raised its full-year adjusted EPS guidance to $15.50 at the midpoint, a 1.6% increase
- Operating margin 19.7%, in line with the same quarter last year
- Free cash flow margin 16.5%, down from 20.2% in the same quarter last year
- Market capitalization $18.38 billion
"We also remain committed to deploying our strong balance sheet to support disciplined and strategic capital allocation. We are on track to deliver near-record share repurchases in 2026 and continue to drive internal investments to support our future growth, which underscores our confidence in the business and our commitment to delivering consistent and superior results for our shareholders."
Revenue growth
A company’s long-term revenue performance is one signal of its overall quality. Even a weak business can perform well for one or two quarters, but a high-quality one grows for years. Curtiss-Wright’s revenue grew at a decent 8.8% compounded annual growth rate over the last five years. Its growth was slightly above the average industrials company and shows its offerings resonate with customers.
Long-term growth matters most, but within industrials, a half-decade historical view may miss cycles, industry trends or a company capitalizing on catalysts such as a new contract win or a successful product line. Curtiss-Wright’s annualized revenue growth of 10.1% over the last two years is above its five-year trend, suggesting its demand recently accelerated. 
A closer look at the company’s most important segments, Product and Services, which account for 85.8% and 14.2% of revenue, provides more detail on its revenue dynamics. Over the last two years, Curtiss-Wright’s Product revenue (aerospace & defense technology) averaged 10.5% year-on-year growth while its Services revenue (testing, maintenance and consulting) averaged 8.7% growth. 
This quarter, Curtiss-Wright reported year-on-year revenue growth of 9.6%, and its $952.6 million of revenue exceeded Wall Street’s consensus estimates by 1.8%.
Looking ahead, sell-side analysts expect revenue to grow 7.4% over the next 12 months, according to S&P, a slight deceleration versus the last two years. This projection is uninspiring and implies its products and services will face some demand challenges. Still, the company is tracking well in other measures of financial health.
Operating margin
Operating margin is an important measure of profitability as it shows the portion of revenue left after accounting for all core expenses, from the cost of goods sold to advertising and wages. It’s also useful for comparing profitability across companies with different levels of debt and tax rates because it excludes interest and taxes.
Curtiss-Wright has performed well over the last five years. It demonstrated strong profitability for an industrials business, with an average operating margin of 17.5%.
Looking at the trend in its profitability, Curtiss-Wright’s operating margin rose by 3.8 percentage points over the last five years, as its revenue growth gave it operating leverage.
In Q3, Curtiss-Wright generated an operating margin of 19.7%, in line with the same quarter last year. This indicates the company’s overall cost structure has been relatively stable.
Earnings per share
Long-term changes in earnings per share (EPS) matter for the same reason as long-term revenue growth. Compared to revenue, however, EPS highlights whether a company’s growth is profitable.
Curtiss-Wright’s EPS grew at a 15.3% compounded annual growth rate over the last five years, higher than its 8.8% annualized revenue growth. This indicates the company became more profitable on a per-share basis as it expanded.
A closer look at Curtiss-Wright’s earnings helps explain the drivers of its performance. Curtiss-Wright’s operating margin was flat this quarter but expanded by 3.8 percentage points over the last five years. In addition, its share count shrank by 10%. These are positive signs for shareholders because improving profitability and share buybacks boost EPS growth relative to revenue growth. 
As with revenue, analyzing EPS over a shorter period helps identify changes in the business.
For Curtiss-Wright, its two-year annual EPS growth of 17.6% was higher than its five-year trend. That acceleration is a positive sign, particularly given the already high base.
In Q3, Curtiss-Wright reported adjusted EPS of $3.94, up from $3.40 in the same quarter last year. The result beat analysts’ consensus estimates by 4.8%. Over the next 12 months, Wall Street expects Curtiss-Wright’s full-year EPS to grow 12.4% from $14.93 to $16.78, according to S&P.
Key takeaways from Curtiss-Wright’s Q3 results
Curtiss-Wright delivered some key positives in Q3, with revenue topping analysts’ consensus estimates and full-year EPS guidance coming in slightly above Wall Street’s consensus. Shares rose 3.5% to $468 immediately after the report.
Curtiss-Wright reported solid earnings, but one quarter doesn’t necessarily make the stock a buy. The latest quarter matters, but longer-term business quality and valuation are more important when deciding whether to invest in the stock. For more on Curtiss-Wright, read our full research report here (it’s free).
