Woodward beats analysts’ expectations, grows revenue

FORT COLLINS — Woodward Inc. (Nasdaq: WWD), a designer and manufacturer for aerospace and industrial components, beat analyst expectations by 6 cents per share, with fourth-quarter earnings per share of 98 cents.

Net earnings, however, fell slightly from the same period last year. Earnings for the fourth quarter of 2016 were $63 million, compared to $62 million this year. Earnings per share were 98 cents this quarter and 99 cents per share for the same quarter the prior year.

Revenue grew 2.7 percent year-over-year, growing to $607 million for the fourth quarter and beating analyst expectations by $8.8 million.

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For the entire year, net sales were $2.1 billion, a 4 percent increase compared to $2.02 billion the prior year.

Net earnings also grew 11 percent year-over-year, from $181 million in 2016 to $201 million in 2017. Earnings per share grew from $2.85 to $3.16.

In 2018, Woodward expects net sales to be between $2.2 billion and $2.3 billion. Earnings per share for the whole year are expected to be between $3.20 and $3.50.