WOODWARD Reports Earnings Ahead of Forecast
August 5, 2023
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WOODWARD ($NASDAQ:WWD), a leading provider of control solutions for aerospace and defense markets, has recently reported earnings ahead of forecast. The company’s financial performance was bolstered by strong demand for its commercial aerospace and industrial businesses, helping them to beat analysts’ expectations. Woodward designs, develops, manufactures, and services energy-efficient solutions for the aerospace and industrial markets. Its product offering includes aircraft engines, rotating equipment controls, and other related products and systems. It serves customers worldwide, including military customers in the United States, Europe, and Asia-Pacific. Woodward is headquartered in Fort Collins, Colorado, and is traded on the New York Stock Exchange (NYSE: WWD).
The company’s recent positive performance comes as a result of its management’s focus on cost-containment and operational efficiency initiatives. Woodward has also benefited from its broad customer base and product diversification strategy. Going forward, analysts anticipate that Woodward will continue to experience growth in its global customer base and product portfolio. As one of the leading providers in the aerospace and defense industries, Woodward is well placed to capitalize on the increasing demand for its products and services.
Earnings
WOODWARD‘s earning report of FY2023 Q3 ending June 30 2021 revealed that they earned 556.67M USD in total revenue and 48.86M USD in net income. Compared to the previous year, there was a 9.4% decrease in total revenue and a 23.9% increase in net income. Over the last three years, WOODWARD’s total revenue has grown from 556.67M USD to 800.66M USD. This result was higher than the forecast, indicating that WOODWARD has had a positive financial performance.
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Woodward. More…
| Total Revenues | Net Income | Net Margin |
| 2.78k | 203.76 | 7.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Woodward. More…
| Operations | Investing | Financing |
| 263.25 | -90.24 | -120.73 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Woodward. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 4.01k | 1.92k | 33.51 |
Key Ratios Snapshot
Some of the financial key ratios for Woodward are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 0.9% | -8.3% | 10.1% |
| FCF Margin | ROE | ROA |
| 6.9% | 8.7% | 4.4% |
Share Price
WOODWARD reported earnings on Monday that exceeded analyst forecasts. The company’s stock opened at $119.8 and closed at $120.4, up 1.0% from the previous day’s closing price of $119.2. This marked a notable increase in share price, signaling investor optimism for the company’s future prospects. WOODWARD’s strong earnings report is a positive sign for the company and its shareholders. Live Quote…
Analysis
At GoodWhale, we conducted an analysis of WOODWARD‘s fundamentals. The Star Chart showed that WOODWARD has a high health score of 9/10, taking into account its cashflows and debt that indicate it can sustain its future operations in times of crisis. We classified WOODWARD as a ‘cow’, which is a type of company that has the track record of paying out consistent and sustainable dividends. We believe that investors looking for such companies to invest in would benefit from investing in WOODWARD, as it is strong in dividend, medium in asset, profitability and weak in growth. More…
Peers
The company has a broad portfolio of products and services, including power generation systems and components, aerospace components, and fluid power systems. Woodward Inc competes in the same market with Atec Inc, Senior PLC, and Radiant Energy Corp, all of whom offer similar solutions in the energy control and optimization space.
– Atec Inc ($OTCPK:ATCN)
Senior PLC is a manufacturing company that produces engineered components, systems and services for the transportation, automotive, energy and industrial markets. With a market cap of 521.76M as of 2022, Senior PLC is a mid-sized company that is well-positioned for further growth. The company’s 3.02% return on equity is indicative of its strong operational performance and solid financial position. Senior PLC has built a solid reputation for delivering superior products and services to its customers and is well-positioned to achieve continued success in the future.
Summary
Woodward is an industrial company that provides technologically advanced products and services to customers in the aerospace and energy markets. Furthermore, increased cost savings from its restructuring program should drive margin expansion. Highlighting strength in its core markets, Woodward has been able to grow its revenue despite the downturn. Analysts anticipate another strong fiscal year for the company, with estimates of double-digit growth in earnings per share.
At the same time, analysts expect Woodward’s profit margins to remain steady and for the stock to remain relatively undervalued compared to its peers. Investors considering Woodward should monitor the company’s progress in the aerospace and energy industries and keep an eye on its cost savings initiatives.
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