Woodward grows revenue for fourth quarter, 2018

FORT COLLINS — Woodward Inc. (Nasdaq: WWD) posted a fourth quarter earnings per share of $1.16, missing analyst expectations by 7 cents.

The company’s earnings still grew significantly from Q4 2017. Earnings per share grew from 98 cents in Q4 2017 to $1.16 in Q4 2018. Net earnings grew from $62.2 million to $74.5 million.

The company’s revenue grew 18.6 percent year-over-year to $719.36 million, beating analyst expectations by $31.2 million.

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Woodward specializes in designing and manufacturing components for the aerospace and industrial segments. Earlier this year, it completed its acquisition of L’Orange.

For the full year, its earnings per share fell from $3.16 in 2017 to $2.82 in 2018. Net earnings fell from $200 million to $180 million in 2018. Net sales grew from $2.1 billion in 2017 to $2.3 billion in 2018.

Woodward said it expects its total net sales to be between $2.65 billion and $2.8 billion in its 2019 fiscal year.