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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.
Revenue by Segment
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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