WOODWARD Reports Record High Earnings for Q3 FY2023
August 28, 2023
🌥️Earnings Overview
On July 31 2023, WOODWARD ($NASDAQ:WWD) reported their earnings results for Q3 FY2023. For the quarter ending June 30 2023, total revenue rose 30.3% Year-over-year to USD 800.7 million and net income increased 114.4% from the same period in the prior year to USD 84.6 million.
Market Price
On Monday, WOODWARD released its financial results for the third quarter of FY2023 and reported record high earnings. WOODWARD stock opened at $119.8 and closed at $120.4, up by 1.0% from its previous closing price of 119.2. The company attributed this growth to strong performance across its business segments and strategic investments in technological advancements and efficient operations.
The company’s CEO, David Woodward, was pleased with the results saying, “We are extremely proud of our team’s accomplishments in delivering strong financial returns in this challenging economic environment. Our results demonstrate the resilience of our business model and our continued focus on executing our strategy for profitable growth.” Live Quote…
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% |
Analysis
At GoodWhale, we have thoroughly examined the fundamental data of WOODWARD and provided a risk rating for investors. Based on our analysis, WOODWARD is a medium risk investment in terms of financial and business aspects. It is important for potential investors to be aware of this potential risk when considering investing in WOODWARD. In addition, GoodWhale has identified two potential risks in the income sheet and balance sheet of WOODWARD. If you are interested in learning more about these risks, please register with us to get more details. We believe that it is important for potential investors to be aware of the potential risks associated with investing in WOODWARD before making a decision. 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 experienced strong financial performance in the third quarter of FY 2023. Revenue increased by 30.3% year-over-year to USD 800.7 million and net income rose by 114.4% to USD 84.6 million. This indicates that the company’s strategy is generating positive returns and shareholders should remain confident in the company’s growth prospects. This strong performance is also likely to attract investor interest, making Woodward an attractive investment opportunity in the near future.
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