Woodward sees stock price jump after reporting record sales

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, boosted its stock price in early trading Tuesday after reporting record revenues in fiscal 2024. 

The company posted net sales of $855 million in the fourth quarter, up 10% year over year, and $3.3 billion in revenues for the full year, up 14% from fiscal 2023. 

“We delivered record sales in fiscal 2024 with Woodward revenue exceeding $3 billion for the first time. Robust end market demand along with contributions from operational excellence fueled significant sales growth and earnings expansion,” Woodward CEO Chip Blankenship said in a prepared statement. “In Aerospace, both commercial and defense OEM sales increased due to capacity improvements to meet customer demand, and commercial and defense aftermarket sales increased due to continued high aircraft utilization. Our Industrial business benefitted from increased sales in power generation and transportation. Our performance over the last year reflects the hard work and dedication of Woodward members to deliver on our value proposition and fulfill our purpose.”

As of 10:45 a.m. Tuesday, Woodward’s stock price was $190.54, up 6.27% on the day.

Looking ahead to fiscal year 2025, Woodward projects full-year sales of $3.3 billion to $3.5 billion.

“We enter fiscal 2025 with strong momentum. In Aerospace, we anticipate increasing revenue and margin expansion driven by continued strength in commercial markets and increased defense activity,” Blankenship said in a statement. “In Industrial, we expect broad-based market strength in power generation and marine transportation, offset by a significant decline in sales related to China on-highway natural gas trucks. We remain focused on growth, operational excellence and innovation to drive shareholder value.”

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