Woodward boosts net sales, earnings in third quarter

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, reported higher year-over-year net sales and net earnings in the third quarter of fiscal 2024. 

Net sales were $848 million in the most recent period, up from $801 million in the third quarter of 2023.

Woodward posted net earnings of $102 million, or $1.63 per share, in the third quarter this year. That’s compared with net earnings of $85 million, or $1.37 per share, in the same period last year.

“We delivered a solid quarter, driven by robust end-market demand and the dedicated efforts of all our members,” Woodward CEO Chip Blankenship said in a prepared statement. “In Aerospace, increased utilization drove strong aftermarket demand in the third quarter. Total Industrial growth moderated as expected. Industrial benefited from increased sales in power generation as well as transportation despite flat China on-highway shipments year-over-year. In this dynamic market, we remain focused on growth, operational excellence, and innovation, which continue to position Woodward to deliver sustained long-term shareholder value.”

Woodward narrowed its previous full-year 2024 sales guidance range from $3.25 billion to $3.35 billion to a range of $3.25 billion to $3.3 billion.