Woodward boost sales, earnings, raises guidance
FORT COLLINS — Woodward Inc. (Nasdaq: WWD), a Fort Collins company that designs, manufactures and services energy-conversion and control solutions for the aerospace and industrial equipment markets, improved its year-over-year sales and earnings in the second quarter of fiscal 2024, resulting in a hike in the company’s full-year 2024 revenue guidance.
In the most recent period, Woodward posted net earnings of $98 million on sales of $835 million. That’s up from net earnings of $36 million on $718 million in revenue during the second quarter of 2023.
“Our improving operational performance allows us to capitalize on robust demand for Woodward products and services across both aerospace and industrial markets. Based on these improvements and better visibility, we are raising certain aspects of our full-year guidance,” Woodward CEO Chip Blankenship said in a prepared statement. “As we drive profitable growth, operational excellence, and innovation, we remain well positioned to deliver long term shareholder value.”
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In January, Woodward projected full-year 2024 sales of $3.15 billion to $3.3 billion. Guidance has now been raised to the range of $3.25 billion to $3.35 billion.
