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CW · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Curtiss-Wright Corp. (CW) stock moving?
Curtiss-Wright beat Q3 consensus on Nov 4, with adjusted EPS of $3.94 against $3.76 expected and sales of $953M, up 10%. Orders rose 15% to $1.1B, backlog reached $4.6B (up 12% year-to-date), and free cash flow was $157M. Management raised FY2026 adjusted EPS guidance to $15.40-$15.60 and sales growth to 8-10%, and expects near-record buybacks. Despite this, the stock fell 9.2% on Nov 4 (from $497.76 to $452.13) and dropped to a $432.70 low on Nov 5 on 737K shares, the heaviest volume in the window. It has since recovered to $477.92 on Nov 10, still below the pre-earnings level. Analyst reaction is mixed: Guggenheim (Buy) cut its target to $674, while Piper Sandler (Neutral, $544), Citigroup (Neutral, $505) and Stifel (Hold, $472) all lowered targets. The price now sits between Stifel's and Citi's targets. Fresh defense contracts ($225M Navy in early Nov, $140M Electric Boat on Nov 10) support demand. Leadership transition risk exists, as CEO Kevin Rayment takes over Jan 1, 2027 and the CFO post is held on an interim basis.
News behind the analysis
- Citigroup Maintains Neutral on Curtiss-Wright, Lowers Price Target to $505Citigroup kept its Neutral rating on Curtiss-Wright and cut its price target to $505. The stock closed at $477.92 on Nov 10.
- Curtiss-Wright Announces Over $140M In Contracts From General Dynamics Electric Boat For Virginia-Class And Columbia-Class Submarine Propulsion EquipmentCurtiss-Wright won more than $140M in contracts from General Dynamics Electric Boat for submarine propulsion equipment. The award adds to its defense and naval backlog.
- Stifel Maintains Hold on Curtiss-Wright, Lowers Price Target to $472Stifel kept its Hold rating and cut its price target from $518 to $472. That target sits about 1% below the Nov 10 close.
- Guggenheim Maintains Buy on Curtiss-Wright, Lowers Price Target to $674Guggenheim maintained its Buy rating and lowered its price target from $786 to $674. It remains the most bullish of the recent analyst updates.
- Piper Sandler Maintains Neutral on Curtiss-Wright, Lowers Price Target to $544Piper Sandler kept its Neutral rating and cut its price target to $544 after the Q3 report.
- Curtiss-Wright Q3 Adj. EPS $3.94 Beats $3.76 Estimate, Sales $952.590M Beat $935.087M EstimateQ3 adjusted EPS of $3.94 and sales of $952.6M beat consensus. Orders rose 15% and backlog reached $4.6B, up 12% year-to-date.
- Curtiss-Wright Raises FY2026 Adj EPS Guidance from $15.10-$15.40 to $15.40-$15.60 vs $15.35 Est; Raises FY2026 Sales Guidance from $3.780B-$3.815B to $3.795B-$3.840B vs $3.801B EstFull-year 2026 adjusted EPS guidance rose to $15.40-$15.60 and sales guidance to $3.795B-$3.840B. Both ranges are above the prior guidance and slightly above consensus.
- Curtiss-Wright Awarded Over $225 Million in U.S. Navy ContractsCurtiss-Wright secured more than $225M in contracts from Bechtel Plant Machinery for U.S. Navy nuclear submarine and aircraft carrier programs.
- Curtiss-Wright Appoints COO Kevin Rayment As President, CEO, Effective Jan. 1, 2027Kevin Rayment, currently COO, will become President and CEO on Jan 1, 2027. The leadership change comes as the company runs its Pivot to Growth strategy.
- Curtiss-Wright Invests $30M To Expand Operations At Its Round Rock, Texas SiteCurtiss-Wright will invest $30M to expand its Round Rock, Texas facility to support nuclear energy and industrial applications.
About Curtiss-Wright Corp.
Curtiss-Wright is a North Carolina-based maker of engineered parts and systems, sold mainly to defense and aerospace customers and also to power, process and industrial markets. It stands out for its long-running work on US Navy submarines and aircraft carriers, rugged defense electronics, and parts for commercial nuclear power plants, including newer small modular reactors (SMRs).
How it makes money
It sells products, about 86% of revenue, and services, about 14%. It reports three segments: Aerospace & Industrial (actuation systems, sensors, industrial vehicle and valve products), Defense Electronics (rugged computers and electronics for aircraft and ground vehicles), and Naval & Power (pumps, valves and other equipment for Navy ships and nuclear and process plants). Aerospace and defense markets bring in roughly 70% of sales and commercial markets about 30%. The company expects full-year 2026 sales of about $3.8 billion (approximate).
What usually moves CW
- US defense budgets and Navy shipbuilding (submarines, aircraft carriers)
- Commercial nuclear power demand and small modular reactor (SMR) growth
- Commercial aircraft production rates
- New orders, backlog and contract timing
- Operating margin trends and full-year guidance changes