Curtiss-Wright Corporation (NYSE:CW) Q1 2022 Results Earnings Conference Call May 5, 2022 10:00 AM ET

Company Participants

James Ryan - Vice President, Investor Relations

Lynn Bamford - President and Chief Executive Officer

Christopher Farkas - Vice President and Chief Financial Officer

Conference Call Participants

Peter Arment - Robert W. Baird

Nathan Jones - Stifel

Michael Ciarmoli - Truist Securities

Myles Walton - UBS

Kristine Liwag - Morgan Stanley

Christopher Rieger - Berenberg

Operator

Good day, and thank you for standing by. Welcome to the Curtiss-Wright First Quarter 2022 Financial Results Conference Call. [Operator Instructions] Please be advised that today's conference may be recorded. [Operator Instructions]

I would now like to hand the conference over to your host today, Jim Ryan, Vice President, Investor Relations. Please go ahead.

James Ryan

Thank you, Michelle, and good morning, everyone. Welcome to Curtiss-Wright's First Quarter 2022 Earnings Conference Call. Joining me on the call today are President and Chief Executive Officer, Lynn Bamford; and Vice President and Chief Financial Officer, Chris Farkas. Our call today is being webcast, and the press release as well as a copy of today's financial presentation is \available for download to the Investor Relations section of our company website at www.curtisswright.com.

A replay of this webcast also can be found on the website. Please note, today's discussion will include certain projections and statements that are forward-looking as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations, they are not guarantees of future performance. We detail those risks and uncertainties associated with our forward-looking statements in our public filings with the SEC.

As a reminder, the company's results include an adjusted non-GAAP view that excludes certain costs in order to provide greater transparency into Curtiss-Wright's ongoing operating and financial performance.

Any references to organic growth are on an adjusted basis and exclude foreign currency translation, acquisitions and divestitures unless otherwise noted. GAAP to non-GAAP reconciliations for current and prior year periods are available in the earnings release and on our website.

Now I would like to turn the call over to Lynn to get things started. Lynn?

Lynn Bamford

Thank you, Jim, and good morning, everyone. I'll begin our remarks by covering the key highlights of our first quarter 2022 performance and some notable events that are influencing our business. Then I'll turn the call over to Chris to provide a more detailed review of our financial results and our 2022 guidance. Finally, I'll wrap up our prepared remarks before we move to Q&A. Starting with our first quarter 2022 performance, our results were principally driven by the timing of revenues in our defense markets with overall sales below the prior year, but in line with our expectations.