EXHIBIT 99.1 Exhibit 99.1 Curtiss-Wright Reports Fourth Quarter and Full-Year 2023 Financial Results; Issues Full-Year 2024 Guidance Reflecting Strong Growth in Sales, EPS and Free Cash Flow Company Delivers Record FY23 Sales, Profitability, EPS, Free Cash Flow and Orders DAVIDSON, N.C.--(BUSINESS WIRE)--February 14, 2024--Curtiss-Wright Corporation (NYSE: CW) reports financial results for the fourth quarter and full-year ended December 31, 2023. Fourth Quarter 2023 Highlights: Reported sales of $786 million, up 4%, operating income of $161 million, operating margin of 20.4%, and diluted earnings per share (EPS) of $3.11; Adjusted operating income of $163 million, up 2%; Adjusted operating margin of 20.8%; Adjusted diluted EPS of $3.16, up 8%; and Free cash flow (FCF) of $270 million, generating 221% Adjusted FCF conversion. Full-Year 2023 Highlights: Reported sales of $2.8 billion, up 11%, operating income of $485 million, operating margin of 17.0%, diluted EPS of $9.20 and Reported FCF of $403 million; Adjusted operating income of $494 million, up 11%; Adjusted operating margin of 17.4%; Adjusted diluted EPS of $9.38, up 15%; Adjusted FCF of $413 million, generating 114% Adjusted FCF conversion; Total share repurchases of $50 million; New orders of $3.1 billion, up 5%, reflecting solid demand in Aerospace & Defense (A&D) and Commercial markets, and book-to-bill of 1.1x; and Backlog of $2.9 billion, up 9%; "Curtiss-Wright ended the year with a strong fourth quarter financial performance that reflected better-than-expected sales growth, record quarterly Adjusted diluted EPS of $3.16 and strong free cash flow," said Lynn M. Bamford, Chair and CEO of Curtiss-Wright Corporation. "Our full-year 2023 results were highlighted by another year of strong operational performance, as we delivered record high sales and operating income driven by 10% organic growth, and improved profitability while continuing to ramp up our investments in research and development across the portfolio. We achieved record Adjusted free cash flow of $413 million, driven by 15% growth in Adjusted diluted EPS as well as our continued efforts to reduce working capital. Our results also reflected strong demand across our A&D and Commercial markets, which drove record new orders exceeding $3 billion and a book-to-bill of 1.1x. Overall, these results mark the final, successful year for the three year goals we established at our May 2021 Investor Day. I'm incredibly proud of the team's efforts to successfully execute our pivot to growth strategy and the momentum we now carry forward into 2024." "Looking ahead, our strong backlog entering the year supports our expectations to deliver total organic sales growth of 4% to 6% in 2024, including growth in all of our A&D and Commercial end markets. We expect to deliver continued operating margin expansion while increasing R&D investments, diluted EPS growth of 7% to 10%, and strong free cash flow generation ranging from $415 to $435 million. We remain well-positioned with strong alignment of our technologies to the favorable secular growth trends in each of our end markets, and confident in our ability to deliver profitable growth and drive long-term shareholder value." Fourth Quarter 2023 Operating Results (In millions) Q4-2023 Q4-2022 Change Reported Sales $ 786 $ 758 4 % Operating income $ 161 $ 157 2 % Operating margin 20.4 % 20.8 % (40 bps) Adjusted (1) Sales $ 786 $ 758 4 % Operating income $ 163 $ 160 2 % Operating margin 20.8 % 21.1 % (30 bps) (1) Reconciliations of Reported to Adjusted operating results are available in the Appendix. Sales of $786 million increased 4% compared with the prior year period; Total A&D market sales increased 5%, while total Commercial market sales increased 2%; In our A&D markets, we experienced solid growth in the defense markets principally driven by higher defense electronics revenues and higher sales of arresting systems equipment, as well as strong sales growth in the commercial aerospace market; In our Commercial markets, we experienced solid growth in the power & process markets, despite the wind down on the China Direct AP1000 program, while sales in the general industrial market were in-line with the prior year period; and Adjusted operating income was $163 million, up 2% compared with the prior year period, while Adjusted operating margin decreased 30 basis points to 20.8%, as favorable overhead absorption on higher revenues in all three segments was offset by unfavorable mix on products and higher investment in research and development. Fourth Quarter 2023 Segment Performance Aerospace & Industrial (In millions) Q4-2023 Q4-2022 Change Reported Sales $ 238 $ 223 7 % Operating income $ 44 $ 41 9 % Operating margin 18.5 % 18.2 % 30 bps Adjusted (1) Sales $ 238 $ 223 7 % Operating income $ 44 $ 41 7 % Operating margin 18.5 % 18.5 % 0 bps (1) Reconciliations of Reported to Adjusted operating results are available in the Appendix. Sales of $238 million, up $15 million, or 7%; Higher commercial aerospace market revenues reflected increased OEM sales of actuation and sensors products, as well as surface treatment services, on narrowbody and widebody platforms; In the defense markets, higher revenue in the aerospace defense market supporting various fighter jet programs was mainly offset by lower sales on ground missile launchers in the ground defense market; General industrial market revenue was essentially flat, as the benefit of new product introductions addressing the electrification of vehicles was mainly offset by lower sales on off-highway vehicle platforms; and Adjusted operating income was $44 million, up 7%, with a strong Adjusted operating margin of 18.5%, as favorable absorption on higher revenues was partially offset by the timing of development contracts. Defense Electronics (In millions) Q4-2023 Q4-2022 Change Reported Sales $ 240 $ 236 1 % Operating income $ 69 $ 70 (2 %) Operating margin 28.8 % 29.7 % (90 bps) Adjusted (1) Sales $ 240 $ 236 1 % Operating income $ 69 $ 70 (2 %) Operating margin 28.8 % 29.7 % (90 bps) (1) Reconciliations of Reported to Adjusted operating results are available in the Appendix. Sales of $240 million, up $3 million, or 1%; Aerospace defense market revenue declines principally reflected the timing of sales of our embedded computing equipment on various helicopter programs partially offset by higher sales of flight test instrumentation equipment on various fighter jet programs; Strong revenue growth in the ground defense market reflected higher sales of tactical battlefield communications equipment as well as higher sales of embedded computing equipment on the Stryker ground combat vehicle; Higher revenue in the naval defense market reflected increased sales of our embedded computing equipment supporting various domestic and international programs; and Adjusted operating income was $69 million, down 2% from the prior year period, while adjusted operating margin decreased 90 basis points to 28.8%, as favorable absorption on higher revenues was offset by unfavorable mix and higher investments in research and development. Naval & Power (In millions) Q4-2023 Q4-2022 Change Reported Sales $ 308 $ 298 3 % Operating income $ 57 $ 59 (3 %) Operating margin 18.5 % 19.7 % (120 bps) Adjusted (1) Sales $ 308 $ 298 3 % Operating income $ 59 $ 60 (2 %) Operating margin 19.3 % 20.3 % (100 bps) (1) Reconciliations of Reported to Adjusted operating results are available in the Appendix. Sales of $308 million, up $10 million, or 3%; Higher revenue in the aerospace defense market was primarily driven by increased sales of our arresting systems equipment supporting various domestic and international customers; Naval defense market revenue was essentially flat, as higher revenues on Columbia-class and Virginia-class submarines were mainly offset by the timing of revenues on the CVN-80 and CVN-81 aircraft carrier programs; Higher power & process market revenues reflected strong growth in industrial valve sales in the process market, and solid growth in the commercial nuclear market supporting increased development on Advanced Small Modular Reactors (ASMRs); Those increases were partially offset by lower China Direct AP1000 program revenues; and Adjusted operating income was $59 million, down 2% from the prior year period, while adjusted operating margin decreased 100 basis points to 19.3%, as favorable absorption on higher revenues was offset by unfavorable mix of products and timing of development contracts. Free Cash Flow (In millions) Q4-2023 Q4-2022 Change Net cash provided by operating activities $ 282 $ 292 (3 %) Capital expenditures (13 ) (9 ) 34 % Reported free cash flow $ 270 $ 283 (5 %) Adjusted free cash flow (1) $ 270 $ 299 (10 %) (1) A reconciliation of Reported to Adjusted free cash flow is available in the Appendix. Reported free cash flow of $270 million decreased $13 million, as higher cash earnings were more than offset by higher taxes; Adjusted free cash flow of $270 million decreased $29 million; and Capital expenditures increased approximately $3 million compared with the prior year period, primarily due to higher growth investments within the Naval & Power segment. New Orders and Backlog New orders of $685 million decreased 4% in the fourth quarter, reflecting timing in our Defense markets, partially offset by strong demand within our Commercial markets for nuclear aftermarket products as well as subsea pumps to the process market; Full-year 2023 new orders of $3.1 billion increased 5% and generated an overall book-to-bill of 1.1x, reflecting growth in our A&D and Commercial markets; and Backlog of $2.9 billion, up 9% from December 31, 2022, reflects strong demand in both our A&D and Commercial markets. Share Repurchase and Dividends During the fourth quarter, the Company repurchased 60,442 shares of its common stock for approximately $13 million; During full-year 2023, the Company repurchased 0.3 million shares for $50 million; and The Company also declared a quarterly dividend of $0.20 a share. Full-Year 2024 Guidance The Company's full-year 2024 financial guidance (1) is as follows: ($ in millions, except EPS) 2024 Guidance % Chg vs 2023 Adjusted Total Sales $2,960 - $3,010 Up 4% - 6% Operating Income $514 - $528 Up 4% - 7% Operating Margin 17.4% - 17.6% Up 0 - 20 bps Diluted EPS $10.00 - $10.30 Up 7% - 10% Free Cash Flow $415 - $435 Up 0% - 5% (1) Reconciliations of Reported to Adjusted 2023 operating results and 2024 financial guidance are available in the Appendix, and exclude first year purchase accounting costs associated with prior year acquisitions. ********** A more detailed breakdown of the Company’s 2024 financial guidance by segment and by market, as well as all reconciliations of Reported GAAP amounts to Adjusted non-GAAP amounts, can be found in the accompanying schedules. Historical financial results are available in the Investor Relations section of Curtiss-Wright’s website. Conference Call & Webcast Information The Company will host a conference call to discuss fourth quarter and full-year 2023 financial results and expectations for 2024 guidance at 10:00 a.m. ET on Thursday, February 15, 2024. A live webcast of the call and the accompanying financial presentation, as well as a webcast replay of the call, will be made available on the internet by visiting the Investor Relations section of the Company’s website at www.curtisswright.com . (Tables to Follow) CURTISS-WRIGHT CORPORATION and SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (UNAUDITED) ($'s in thousands, except per share data) Three Months Ended Year Ended December 31, December 31, 2023 2022 2023 2022 Product sales $ 667,879 $ 646,263 $ 2,389,711 $ 2,135,882 Service sales 117,912 111,402 455,662 421,143 Total net sales 785,791 757,665 2,845,373 2,557,025 Cost of product sales 414,010 399,389 1,507,480 1,348,569 Cost of service sales 67,051 65,792 270,715 253,847 Total cost of sales 481,061 465,181 1,778,195 1,602,416 Gross profit 304,730 292,484 1,067,178 954,609 Research and development expenses 20,066 19,032 85,764 80,836 Selling expenses 36,306 31,199 137,088 121,586 General and administrative expenses 87,664 85,008 359,724 324,093 Loss on divestiture — — — 4,651 Operating income 160,694 157,245 484,602 423,443 Interest expense 10,961 13,665 51,393 46,980 Other income, net 7,117 1,434 29,861 12,732 Earnings before income taxes 156,850 145,014 463,070 389,195 Provision for income taxes (36,963 ) (35,991 ) (108,561 ) (94,847 ) Net earnings $ 119,887 $ 109,023 $ 354,509 $ 294,348 Net earnings per share: Basic earnings per share $ 3.14 $ 2.85 $ 9.26 $ 7.67 Diluted earnings per share $ 3.11 $ 2.82 $ 9.20 $ 7.62 Dividends per share $ 0.20 $ 0.19 $ 0.79 $ 0.75 Weighted average shares outstanding: Basic 38,232 38,296 38,283 38,386 Diluted 38,505 38,633 38,529 38,649 CURTISS-WRIGHT CORPORATION and SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (UNAUDITED) ($'s in thousands, except par value) December 31, December 31, 2023 2022 Assets Current assets: Cash and cash equivalents $ 406,867 $ 256,974 Receivables, net 732,678 723,304 Inventories, net 510,033 483,113 Other current assets 67,502 52,623 Total current assets 1,717,080 1,516,014 Property, plant, and equipment, net 332,796 342,708 Goodwill 1,558,826 1,544,635 Other intangible assets, net 557,612 620,897 Operating lease right-of-use assets, net 141,435 153,855 Prepaid pension asset 261,869 222,627 Other assets 51,351 47,567 Total assets $ 4,620,969 $ 4,448,303 Liabilities Current liabilities: Current portion of long-term and short-term debt $ — $ 202,500 Accounts payable 243,833 266,525 Accrued expenses 188,039 174,440 Deferred revenue 303,872 254,801 Other current liabilities 70,800 82,779 Total current liabilities 806,544 981,045 Long-term debt 1,050,362 1,051,900 Deferred tax liabilities 132,319 123,001 Accrued pension and other postretirement benefit costs 66,875 58,348 Long-term operating lease liability 118,611 132,275 Long-term portion of environmental reserves 12,784 12,547 Other liabilities 105,061 107,973 Total liabilities $ 2,292,556 $ 2,467,089 Stockholders' equity Common stock, $1 par value $ 49,187 $ 49,187 Additional paid in capital 140,182 134,553 Retained earnings 3,487,751 3,163,491 Accumulated other comprehensive loss (213,223 ) (258,916 ) Less: cost of treasury stock (1,135,484 ) (1,107,101 ) Total stockholders' equity 2,328,413 1,981,214 Total liabilities and stockholders' equity $ 4,620,969 $ 4,448,303 Use and Definitions 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 Adjusted (non-GAAP) measures provide investors with 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. 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. 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 under GAAP excluding: (i) the impact of first year purchase accounting costs associated with acquisitions, specifically one-time inventory step-up, backlog amortization, deferred revenue adjustments and transaction costs; (ii) the sale or divestiture of a business or product line; (iii) pension settlement charges; and (iv) significant legal settlements, impairment costs, and costs associated with shareholder activism, as applicable. CURTISS-WRIGHT CORPORATION and SUBSIDIARIES RECONCILIATION OF AS REPORTED TO ADJUSTED (UNAUDITED) ($'s in thousands) Three Months Ended Three Months Ended December 31, 2023 December 31, 2022 % Change As Reported Adjustments Adjusted As Reported Adjustments Adjusted As Reported Adjusted Sales: Aerospace & Industrial $ 238,224 $ — $ 238,224 $ 223,258 $ — $ 223,258 7 % 7 % Defense Electronics 239,751 — 239,751 236,456 — 236,456 1 % 1 % Naval & Power 307,816 — 307,816 297,951 — 297,951 3 % 3 % Total sales $ 785,791 $ — $ 785,791 $ 757,665 $ — $ 757,665 4 % 4 % Operating income (expense): Aerospace & Industrial (1) $ 44,054 $ — $ 44,054 $ 40,599 $ 703 $ 41,302 9 % 7 % Defense Electronics 69,015 — 69,015 70,230 — 70,230 (2 )% (2 )% Naval & Power (2) 56,845 2,529 59,374 58,717 1,724 60,441 (3 )% (2 )% Total segments $ 169,914 $ 2,529 $ 172,443 $ 169,546 $ 2,427 $ 171,973 — % — % Corporate and other (9,221 ) — (9,221 ) (12,301 ) — (12,301 ) 25 % 25 % Total operating income $ 160,693 $ 2,529 $ 163,222 $ 157,245 $ 2,427 $ 159,672 2 % 2 % Operating margins: As Reported Adjusted As Reported Adjusted As Reported Adjusted Aerospace & Industrial 18.5 % 18.5 % 18.2 % 18.5 % 30 bps — bps Defense Electronics 28.8 % 28.8 % 29.7 % 29.7 % (90 bps) (90 bps) Naval & Power 18.5 % 19.3 % 19.7 % 20.3 % (120 bps) (100 bps) Total Curtiss-Wright 20.4 % 20.8 % 20.8 % 21.1 % (40 bps) (30 bps) Segment margins 21.6 % 21.9 % 22.4 % 22.7 % (80 bps) (80 bps) (1) Excludes purchase accounting adjustments in the prior period. (2) Excludes purchase accounting adjustments in the current and prior period and trailing costs associated with the divestiture of our German valves business. CURTISS-WRIGHT CORPORATION and SUBSIDIARIES RECONCILIATION OF AS REPORTED TO ADJUSTED (UNAUDITED) ($'s in thousands) Year Ended Year Ended December 31, 2023 December 31, 2022 % Change As Reported Adjustments Adjusted As Reported Adjustments Adjusted As Reported Adjusted Sales: Aerospace & Industrial $ 887,228 $ — $ 887,228 $ 836,035 $ — $ 836,035 6 % 6 % Defense Electronics 815,912 — 815,912 690,262 — 690,262 18 % 18 % Naval & Power 1,142,233 — 1,142,233 1,030,728 — 1,030,728 11 % 11 % Total sales $ 2,845,373 $ — $ 2,845,373 $ 2,557,025 $ — $ 2,557,025 11 % 11 % Operating income (expense): Aerospace & Industrial (1) $ 145,278 $ — $ 145,278 $ 136,996 $ 703 $ 137,699 6 % 6 % Defense Electronics 191,775 — 191,775 154,568 — 154,568 24 % 24 % Naval & Power (2) 189,227 9,198 198,425 177,582 14,056 191,638 7 % 4 % Total segments $ 526,280 $ 9,198 $ 535,478 $ 469,146 $ 14,759 $ 483,905 12 % 11 % Corporate and other (3) (41,678 ) — (41,678 ) (45,703 ) 4,876 (40,827 ) 9 % (2 )% Total operating income $ 484,602 $ 9,198 $ 493,800 $ 423,443 $ 19,635 $ 443,078 14 % 11 % Operating margins: As Reported Adjusted As Reported Adjusted As Reported Adjusted Aerospace & Industrial 16.4 % 16.4 % 16.4 % 16.5 % — bps (10 bps) Defense Electronics 23.5 % 23.5 % 22.4 % 22.4 % 110 bps 110 bps Naval & Power 16.6 % 17.4 % 17.2 % 18.6 % (60 bps) (120 bps) Total Curtiss-Wright 17.0 % 17.4 % 16.6 % 17.3 % 40 bps 10 bps Segment margins 18.5 % 18.8 % 18.3 % 18.9 % 20 bps (10 bps) (1) Excludes purchase accounting adjustments in the prior period. (2) Excludes purchase accounting adjustments in both periods and trailing costs associated with the divestiture of our German valves business. (3) Excludes costs associated with shareholder activism in the prior year period. CURTISS-WRIGHT CORPORATION and SUBSIDIARIES RECONCILIATION OF AS REPORTED SALES TO ADJUSTED SALES BY END MARKET (UNAUDITED) ($'s in thousands) Three Months Ended Three Months Ended December 31, 2023 December 31, 2022 % Change As Reported Adjustments Adjusted Sales As Reported Adjustments Adjusted Sales Change in As Reported Sales Change in Adjusted Sales Aerospace & Defense markets: Aerospace Defense $ 171,527 $ — $ 171,527 $ 172,763 $ — $ 172,763 (1 %) (1 %) Ground Defense 87,691 — 87,691 81,348 — 81,348 8 % 8 % Naval Defense 187,240 — 187,240 183,418 — 183,418 2 % 2 % Commercial Aerospace 92,723 — 92,723 77,178 — 77,178 20 % 20 % Total Aerospace & Defense $ 539,181 $ — $ 539,181 $ 514,707 $ — $ 514,707 5 % 5 % Commercial markets: Power & Process 136,541 — 136,541 131,598 — 131,598 4 % 4 % General Industrial 110,069 — 110,069 111,360 — 111,360 (1 %) (1 %) Total Commercial $ 246,610 $ — $ 246,610 $ 242,958 $ — $ 242,958 2 % 2 % Total Curtiss-Wright $ 785,791 $ — $ 785,791 $ 757,665 $ — $ 757,665 4 % 4 % Year Ended Year Ended December 31, 2023 December 31, 2022 % Change As Reported Adjustments Adjusted Sales As Reported Adjustments Adjusted Sales Change in As Reported Sales Change in Adjusted Sales Aerospace & Defense markets: Aerospace Defense $ 551,622 $ — $ 551,622 $ 479,743 $ — $ 479,743 15 % 15 % Ground Defense 308,008 — 308,008 219,739 — 219,739 40 % 40 % Naval Defense 720,013 — 720,013 694,015 — 694,015 4 % 4 % Commercial Aerospace 324,949 — 324,949 276,519 — 276,519 18 % 18 % Total Aerospace & Defense $ 1,904,592 $ — $ 1,904,592 $ 1,670,016 $ — $ 1,670,016 14 % 14 % Commercial markets: Power & Process 509,998 — 509,998 472,300 — 472,300 8 % 8 % General Industrial 430,783 — 430,783 414,709 — 414,709 4 % 4 % Total Commercial $ 940,781 $ — $ 940,781 $ 887,009 $ — $ 887,009 6 % 6 % Total Curtiss-Wright $ 2,845,373 $ — $ 2,845,373 $ 2,557,025 $ — $ 2,557,025 11 % 11 % CURTISS-WRIGHT CORPORATION and SUBSIDIARIES RECONCILIATION OF AS REPORTED TO ADJUSTED DILUTED EARNINGS PER SHARE (UNAUDITED) Three Months Ended Year Ended December 31, December 31, 2023 2022 2023 2022 Diluted earnings per share - As Reported $ 3.11 $ 2.82 $ 9.20 $ 7.62 First year purchase accounting adjustments 0.02 0.05 0.15 0.18 Divested German valves business 0.03 — 0.03 0.14 Costs associated with shareholder activism — — — 0.10 Pension settlement charges — 0.05 — 0.09 Diluted earnings per share - Adjusted (1) $ 3.16 $ 2.92 $ 9.38 $ 8.13 (1) All adjustments are presented net of income taxes. 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 contributions from acquisitions and results of operations from divested businesses or product lines during the last twelve months, and impacts from foreign currency fluctuations. Three Months Ended December 31, 2023 vs. 2022 Aerospace & Industrial Defense Electronics Naval & Power Total Curtiss-Wright Sales Operating income Sales Operating income Sales Operating income Sales Operating income As Reported 7% 9% 1% (2%) 3% (3%) 4% 2% Less: Acquisitions 0% 0% 0% 0% 0% 0% 0% 0% Divestiture-related costs 0% 0% 0% 0% 0% 1% 0% 1% Foreign currency (1%) 0% 0% 0% 0% 1% (1%) 0% Organic 6% 9% 1% (2%) 3% (1%) 3% 3% Year Ended December 31, 2023 vs. 2022 Aerospace & Industrial Defense Electronics Naval & Power Total Curtiss-Wright Sales Operating income Sales Operating income Sales Operating income Sales Operating income As Reported 6% 6% 18% 24% 11% 7% 11% 14% Less: Acquisitions 0% 0% 0% 0% (4%) 0% (2%) 0% Divestiture-related costs 0% 0% 0% 0% 0% (2%) 0% (1%) Foreign currency 0% 0% 0% (3%) 0% 0% 1% (1%) Organic 6% 6% 18% 21% 7% 5% 10% 12% 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 net cash provided by operating activities less capital expenditures. Adjusted free cash flow excludes: (i) payments associated with the Westinghouse legal settlement and (ii) executive pension payments. 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 Year Ended December 31, December 31, 2023 2022 2023 2022 Net cash provided by operating activities $ 282,372 $ 292,389 $ 448,089 $ 294,776 Capital expenditures (12,629 ) (9,428 ) (44,666 ) (38,217 ) Free cash flow $ 269,743 $ 282,961 $ 403,423 $ 256,559 Westinghouse legal settlement — — 10,000 15,000 Pension payment to former executives — 15,753 — 23,967 Adjusted free cash flow $ 269,743 $ 298,714 $ 413,423 $ 295,526 Adjusted free cash flow conversion 221 % 265 % 114 % 94 % CURTISS-WRIGHT CORPORATION 2024 Guidance As of February 14, 2024 ($'s in millions, except per share data) 2023 Reported (GAAP) 2023 Adjustments (Non-GAAP) (1,2) 2023 Adjusted (Non-GAAP) (1,2) 2024 Reported Guidance (GAAP) Low High 2024 Chg vs 2023 Adjusted Sales: Aerospace & Industrial $ 887 $ — $ 887 $ 915 $ 930 3 - 5 % Defense Electronics 816 — 816 857 872 5 - 7 % Naval & Power 1,142 — 1,142 1,188 1,208 4 - 6 % Total sales $ 2,845 $ — $ 2,845 $ 2,960 $ 3,010 4 to 6% Operating income: Aerospace & Industrial $ 145 $ — $ 145 $ 152 $ 156 5 - 8 % Defense Electronics 192 — 192 198 203 3 - 6 % Naval & Power 189 9 198 202 207 2 - 5 % Total segments 526 9 535 552 567 Corporate and other (42 ) — (42 ) (38 ) (39 ) Total operating income $ 485 $ 9 $ 494 $ 514 $ 528 4 to 7% Interest expense $ (51 ) $ — $ (51 ) $ (45 ) $ (46 ) Other income, net 30 — 30 33 35 Earnings before income taxes 463 9 472 503 518 Provision for income taxes (109 ) (2 ) (111 ) (118 ) (122 ) Net earnings $ 355 $ 6 $ 361 $ 385 $ 396 Diluted earnings per share $ 9.20 $ 0.18 $ 9.38 $ 10.00 $ 10.30 7 to 10% Diluted shares outstanding 38.5 38.5 38.5 38.5 Effective tax rate 23.4 % 23.4 % 23.5 % 23.5 % Operating margins: Aerospace & Industrial 16.4 % 16.4 % 16.6 % 16.8 % 20 to 40 bps Defense Electronics 23.5 % 23.5 % 23.1 % 23.3 % (40) to (20) bps Naval & Power 16.6 % 17.4 % 17.0 % 17.2 % (40) to (20) bps Total operating margin 17.0 % 17.4 % 17.4 % 17.6 % 0 to 20 bps Free cash flow $ 403 $ 10 $ 413 $ 415 $ 435 Notes: Full year amounts may not add due to rounding. (1) 2023 Adjusted financials exclude the impact of first year purchase accounting adjustments. (2) Free Cash Flow is defined as cash flow from operations less capital expenditures. 2023 Adjusted Free Cash Flow excluded a legal settlement payment of $10 million. CURTISS-WRIGHT CORPORATION 2024 Sales Growth Guidance by End Market As of February 14, 2024 2024 % Change vs 2023 Adjusted % Total Sales Aerospace & Defense Markets Aerospace Defense 5 - 7% 20% Ground Defense 4 - 6% 11% Naval Defense 3 - 5% 25% Commercial Aerospace 10 - 12% 12% Total Aerospace & Defense 5 - 7% 67% Commercial Markets Power & Process 3 - 5% 18% General Industrial 1 - 3% 15% Total Commercial 2 - 4% 33% Total Curtiss-Wright Sales 4 - 6% 100% Note: Sales percentages may not add due to rounding. About Curtiss-Wright Corporation Curtiss-Wright Corporation (NYSE:CW) is a global integrated business that provides highly engineered products, solutions and services mainly to Aerospace & Defense markets, as well as critical technologies in demanding Commercial Power, Process and Industrial markets. We leverage a workforce of approximately 8,600 highly skilled employees who develop, design and build what we believe are the best engineered solutions to the markets we serve. Building on the heritage of Glenn Curtiss and the Wright brothers, Curtiss-Wright has a long tradition of providing innovative solutions through trusted customer relationships. 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, and future cash flow from operations, are forward-looking statements within the meaning of 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; 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, 2023, 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

the item shown at left

other guidance in this release

Text is the filed exhibit, verbatim.