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Dec 31, 2020
Woodward Q1 2021 Earnings Report
Woodward's first quarter of fiscal year 2021 showed signs of stabilization in its markets, but the impact of COVID-19 remained an ever-present risk.
Key Takeaways
Woodward reported a decrease in net sales by 25 percent, with net sales of $538 million. Net earnings were $42 million, or $0.64 per share, compared to $53 million, or $0.83 per share, for the first quarter of fiscal 2020.
Net sales for the first quarter of fiscal 2021 were $538 million, a decrease of 25 percent compared to the first quarter of last year.
Net earnings were $42 million, or $0.64 per share, for the first quarter of 2021.
Aerospace segment net sales decreased by 32 percent to $322 million due to the impact of COVID-19 on passenger travel.
Industrial segment net sales decreased by 12 percent to $216 million, primarily due to the divestiture of RPS, a weak oil and gas market and the continued impact of the pandemic.
Woodward
Woodward
Woodward Revenue by Segment
Revenue by Segment
Aerospace Revenue
CapyFin.comIndustrial Revenue
CapyFin.com Forward Guidance
The dynamic and volatile nature of the COVID-19 global pandemic has continued to cause uncertainty in many of our markets. Given this uncertainty, and the protracted nature of this crisis, we will continue to withhold financial guidance, although we are encouraged that ongoing stabilization will lead to recovery across the globe.
Positive Outlook
- Ongoing rollout of vaccines across the globe has begun.
- Encouraged that ongoing stabilization will lead to recovery across the globe.
Challenges Ahead
- New viral variants and regional resurgences make forecasting the future of our business challenging in the near-term.
- Uncertainty caused by the COVID-19 global pandemic.
- Protracted nature of this crisis.
Revenue & Expenses
Visualization of income flow from segment revenue to net income