Woodward reports net sales up 28 percent

FORT COLLINS  — Woodward Inc. (Nasdaq: WWD) beat analyst estimates in its fiscal year third quarter of 2019 as its aerospace sales took flight.

The Fort Collins-based designer and manufacturer of aerospace and industrial controller systems reported an earnings per share figure of $1.30, beating the highest analyst estimate of $1.23, and $752 million revenue, beating Wall Street’s consensus estimate by just more than $52 million.

The company reported aerospace sales of $499 million for the quarter, compared to $405 million in the same quarter last year, a 23 percent increase, while industrial sales increased 37.5 percent to $253 million for the quarter compared to the same quarter last year.

SPONSORED CONTENT

Prioritizing mental health in hospice care

Prioritizing mental health support alongside physical comfort, Pathways hospice care aims to enhance the quality of life for patients and their families during one of life's most challenging transitions.

However, Woodward said in its filing that it could lose a key revenue source for its renewables business due to the bankruptcy of Senvion GmbH, a German wind turbine manufacturer.

Woodward reported earnings after the markets closed Monday afternoon. The company’s share price fell 2.64 percent to $106.94, mostly due to the larger market sell-off caused by U.S.-China trade worries.