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Woodward, Inc. (NASDAQ: WWD) is a global leader in the design, manufacture, and service of energy conversion and control solutions for the aerospace and industrial equipment markets. Headquartered in Fort Collins, Colorado, Woodward serves two primary markets—aerospace and energy—through innovative integration of technologies into fuel, combustion, fluid, actuation, and electronic control systems. Leveraging advanced engineering capabilities, Woodward creates products that deliver high performance, reliability, and efficiency in some of the world's most challenging environments.
In the aerospace sector, Woodward's products enhance the performance and efficiency of commercial and defense aircraft, including propulsion and motion control systems. The company also provides aftermarket support, helping maintain and repair components to extend the lifecycle of critical aerospace equipment. Recently, Woodward secured a multi-year deal with Alliance Airlines to manage the maintenance, repair, and overhaul of their entire fleet, emphasizing the company's reputation for reliability and excellence.
On the energy front, Woodward develops control solutions that support the global transition to cleaner energy. Its products are designed to improve fuel efficiency and reduce emissions, addressing the increasing demand for sustainable energy management. The company's innovative systems are crucial for applications ranging from power generation to industrial engines.
Financially, Woodward has demonstrated robust growth performance. For fiscal 2023, Woodward reported net sales of $2.91 billion, a 22% increase from the previous year. Net earnings for the same period were $232 million, or $3.78 per share. The company’s operational excellence, combined with strategic investments, has driven significant revenue growth and margin expansion across both its Aerospace and Industrial segments.
Looking ahead, Woodward anticipates continued strong demand for its products and services. The company is committed to operational excellence, talent development, and ongoing innovation to sustain long-term growth and enhance shareholder value. In fiscal 2024, Woodward expects to maintain its positive trajectory, supported by increasing revenue and improving operational performance, particularly in the commercial aerospace market and the industrial sector's natural gas truck applications.
Woodward’s achievements have also been recognized on the Fortune 1000 list, reflecting its substantial contributions and commitment to creating value for stakeholders. The company’s diverse global footprint, including facilities in the United States, Europe, and Asia, positions it well to serve a broad customer base and leverage growth opportunities worldwide.
Woodward, Inc. (NASDAQ: WWD) has announced that it will report its fiscal 2023 second quarter financial results on May 1, 2023, at approximately 4:00 p.m. ET. A conference call will follow at 4:30 p.m. ET, providing an overview of the company's business and financial performance. Interested parties can listen to the call live on the company’s website or via telephone. An audio replay will be available for two weeks post-call. As a global leader in energy conversion and control solutions, Woodward aims to contribute to a cleaner, decarbonized world with its innovative technology. The company also includes a notice regarding forward-looking statements that could impact actual results versus projections.
Woodward, Inc. (NASDAQ: WWD) has appointed William (Bill) Lacey as the new Chief Financial Officer (CFO), effective May 8, 2023. Lacey brings extensive financial and operational experience, having served previously as Vice President of Finance at Amazon and CEO of Savant’s Lighting division. He boasts a notable 28-year career at General Electric (GE) in various senior leadership roles, including CFO of GE’s Healthcare and Wind Energy divisions. In his new role, Lacey will oversee Woodward’s financial operations and collaborate closely with the executive team to drive the company’s strategic initiatives. He replaces Mark Hartman, who is leaving the company. Lacey is expected to enhance Woodward's financial strategy and contribute to profitable growth, while also holding a Business Administration degree from Florida A&M University and relocating to Fort Collins, Colorado.
Woodward, Inc. (NASDAQ: WWD) has announced a quarterly dividend increase to $0.22 per share, up from $0.19, reflecting a commitment to returning value to shareholders. The dividend is payable on March 7, 2023, to stockholders on record as of February 21, 2023. This increase underscores the company’s financial health and confidence in future performance. Woodward specializes in energy conversion and control solutions across aerospace and industrial sectors, actively contributing to a cleaner, decarbonized world.
Woodward, Inc. (NASDAQ:WWD) reported a 14% increase in net sales for Q1 FY2023, totaling $619 million, compared to $542 million in Q1 FY2022. Net earnings remained flat at $30 million or $0.49 per share, up from $0.47 per share last year. Free cash flow fell to negative $19 million, down from $26 million. The company highlighted ongoing operational challenges due to supply chain issues and inflation, impacting profitability. Despite these challenges, Woodward's outlook for FY2023 remains unchanged, projecting total net sales between $2.60 billion and $2.75 billion.
Woodward, Inc. (NASDAQ: WWD) will announce its fiscal 2023 first quarter financial results at 4:00 p.m. EST on January 30, 2023. A conference call will follow at 4:30 p.m. EST to discuss the company's business and financial performance. Investors can access the call via the company's website or by phone, and a replay will be available until February 13, 2023. Woodward is a leader in energy conversion solutions for aerospace and industrial markets, contributing to a decarbonized world with its advanced technologies.
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