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Mar 31, 2021
Woodward Q2 2021 Earnings Report
Woodward's second quarter results reflected encouraging signs of market recovery with sequential improvements in sales and earnings.
Key Takeaways
Woodward reported a 19% decrease in net sales to $581 million compared to the same quarter last year. Net earnings were $68 million, or $1.04 per share, compared to $91 million, or $1.41 per share, in the prior year. The company noted encouraging signs of market recovery with sequential improvement in both Aerospace and Industrial segments.
Net sales decreased by 19% year-over-year to $581 million.
Net earnings were $68 million, or $1.04 per share, compared to $91 million, or $1.41 per share, in the prior year.
Aerospace segment net sales decreased year-over-year but increased sequentially by 13%.
Industrial segment net sales decreased year-over-year but slightly increased excluding renewable power systems and related businesses.
Woodward
Woodward
Woodward Revenue by Segment
Revenue by Segment
Aerospace Revenue
CapyFin.comIndustrial Revenue
CapyFin.com Forward Guidance
Woodward is withholding guidance due to the uncertain economic landscape caused by the COVID-19 pandemic, despite optimism for economic recovery driven by vaccine rollouts.
Positive Outlook
- Ongoing rollout of vaccines across many countries is driving optimism for economic recovery.
Challenges Ahead
- Enduring turbulence caused by the COVID-19 pandemic.
- Significantly reduced global passenger travel.
- New viral variants continue to cloud near-term forecasts.
- Uncertain economic landscape.
- COVID-19 related impacts, which could disrupt production.
Revenue & Expenses
Visualization of income flow from segment revenue to net income