Curtiss-Wright CEO Lynn Bamford on Nuclear Renaissance, Defense Spending, and AI

Commercial Nuclear Power Growth

• 💡 Curtiss-Wright, though a century-old company, is experiencing significant growth in its commercial nuclear sector, which currently represents 12% of its portfolio.
• 🚀 The company is a critical supplier for existing nuclear plants in the US, Canada, and the UK, focusing on plant life extensions from 60 to 80 years.
• 🧩 Curtiss-Wright is also a key partner for major Small Modular Reactor (SMR) players like X-Energy, Terapower, and Rolls-Royce, anticipating $20 to over $120 million in content per reactor.

The Nuclear Renaissance and Future Demand

• 📈 Bamford believes a new nuclear renaissance is imminent, with potential for $1.5 billion in business driven by Eastern Europe.
• ⚡ Recent US administration executive orders have energized the nuclear industry, aiming for 10 large reactors under construction by 2030.
• 🤝 Curtiss-Wright has a long-standing partnership with Westinghouse and is actively preparing to be a significant supplier for these new reactor projects.

Defense Sector Expansion

• 🎯 The defense sector is a vital part of Curtiss-Wright's portfolio, with growth opportunities in both the US and Europe.
• 🚢 Key areas include shipbuilding, funding the industrial base, army modernization, and air force dominance, all supported by the 2026 defense budget.
• 🌐 International defense spending is also robust, presenting further opportunities for the company.

Leveraging AI and Advanced Computing

• 🧠 Curtiss-Wright has partnered with Nvidia to gain access to embedded computing, networking, and AI technologies.
• 🛰️ This partnership aims to bring advanced computing capabilities to the tactical edge of the battlefield, enabling faster data processing and action.
• ⚡ The goal is to provide soldiers with a significant advantage by enabling computing in previously inaccessible areas.

Capital Allocation Strategy

• 💰 Curtiss-Wright is focused on strategic capital allocation, with a primary goal of purposeful acquisitions.
• 📈 After identifying potential targets that did not meet strategic and financial filters, the company announced a share buyback program to return capital to shareholders.