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Mar 31, 2024
Woodward Q2 2024 Earnings Report
Reported significant sales growth and margin expansion driven by operational excellence.
Key Takeaways
Woodward reported a strong second quarter with net sales increasing by 16% to $835 million and net earnings rising to $98 million, or $1.56 per share. The company's performance was driven by growth in both Aerospace and Industrial segments, leading to an increase in full-year guidance.
Net sales increased by 16% to $835 million compared to the same period last year.
Net earnings were $98 million, or $1.56 per share, up from $36 million, or $0.58 per share.
Aerospace segment sales grew by 14%, driven by commercial aerospace and modest defense sales growth.
Industrial segment sales increased by 20%, fueled by transportation growth in China and strong power generation sales.
Woodward
Woodward
Woodward Revenue by Segment
Revenue by Segment
Aerospace Revenue
CapyFin.comIndustrial Revenue
CapyFin.com Forward Guidance
Based on visibility into the third quarter demand for the China on-highway natural gas truck business and anticipated improved operational performance in the second half of fiscal 2024, Woodward is raising certain aspects of its full-year guidance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income