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Curtiss - Wright Corporation , Page 1 CURTISS- WRIGHT NEWS RELEASE CW LISTED NYSE CURTISS - WRIGHT REPORTS SECOND QUARTER 2021 FINANCIAL RESULTS ; RAISES FULL - YEAR 2021 FINANCIAL GUIDANCE DAVIDSON , N.C. - 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