Aerospace division drives Woodward Q2 revenue growth

FORT COLLINS — Woodward Inc. (NASDAQ:WWD), a Fort Collins-based industrial and aerospace control systems maker, posted net revenues of $759 million for the second quarter of fiscal year 2019, up 38 percent over the same period in 2018.

Much of that sales growth was driven by Woodward’s aerospace segment, which accounted for $483 million of the company’s quarterly revenue.

“Woodward delivered strong second quarter performance. Our aerospace segment continues to deliver superior results driven by healthy [original equipment manufacturer] and aftermarket sales, and the Industrial segment is improving as expected, particularly in both natural gas and diesel engines,” Woodward CEO Thomas Gendron said in a prepared statement.

Woodward announced Monday it would bump its annual total sales outlook to $2.8 billion and $2.9 billion for the fiscal year.

“Although uncertainty remains in the second half of the year, we are encouraged by our first half performance and the continuing strength in our aerospace business, along with the increasing globalization of natural gas,” Gendron said. “As a result, we are raising our outlook for the full year and remain confident in our ability to deliver on our strategies to drive long-term value for our shareholders.”

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