Welcome to our dedicated page for Woodward news (Ticker: WWD), a resource for investors and traders seeking the latest updates and insights on Woodward stock.
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 Announces Leadership Transition
Woodward, Inc. (WWD) revealed that Thomas A. Gendron will retire as CEO and Chairman effective May 9, 2022, after 31 years with the company. Charles (Chip) Blankenship has been appointed as his successor. Gendron will remain with the company as a director through July 11, 2022, to ensure a smooth transition. Blankenship, a seasoned leader with experience in aerospace and industrial sectors, expressed his commitment to leading Woodward for future growth and delivering value to shareholders.
Woodward announced the appointment of William John Godsman as Corporate Vice President, Strategy and Business Development, effective May 2, 2022. Godsman will be responsible for directing strategy and overseeing digital transformation efforts. With over 25 years of experience in M&A and business development, he previously served at General Electric and Deutsche Bank. CEO Thomas A. Gendron expressed confidence in Godsman's capabilities to benefit Woodward significantly. Woodward is a leader in energy control solutions, focused on a cleaner, decarbonized world.
Woodward, Inc. (NASDAQ: WWD) will report its fiscal 2022 second quarter financial results on May 2, 2022, at 4:00 p.m. EDT. A conference call will follow at 4:30 p.m. EDT to discuss the company's business and financial performance. Interested parties can access the call via the company’s website or by phone, with replay options available until May 16, 2022. Woodward specializes in energy conversion and control solutions for aerospace and industrial markets, contributing to a cleaner, decarbonized world.
Woodward, Inc. (NASDAQ: WWD) will host an Investor Day on March 9, 2022, in New York City, focusing on its long-term strategy and growth forecasts. The event will start with registration at 7:30 a.m. EST, followed by presentations at 9:00 a.m. EST, and lunch afterward. Attendees must show proof of vaccination. A live webcast will be available on the company’s website, with a replay accessible until April 13, 2022. Woodward is a leader in energy conversion and control solutions for aerospace and industrial markets.
Woodward, Inc. (NASDAQ: WWD) has authorized a two-year stock repurchase program, allowing for the purchase of up to $800 million in shares, replacing the previous repurchase program. This initiative reflects the company's strong financial position and commitment to returning capital to shareholders through stock buybacks and dividends. CEO Thomas A. Gendron emphasized the importance of this strategy for capital deployment while supporting future business growth. The program aims to enhance shareholder value and leverage robust cash flow generation.
Woodward announced a dividend increase to $0.19 per share from $0.1625. This dividend is payable on March 7, 2022, to shareholders on record as of February 21, 2022. Woodward is a leader in energy conversion and control solutions, enabling a cleaner, decarbonized world. The company faces risks and uncertainties related to forward-looking statements regarding its operations and financial performance.
Woodward reported its Q1 fiscal 2022 results with net sales of $542 million, up 1% year-over-year. However, net earnings fell to $30 million or $0.47 per share, down from $42 million or $0.64 per share. Adjusted net earnings were $36 million or $0.56 per share. Operating cash flow dropped significantly to $39 million from $147 million. The company anticipates 2022 net sales between $2.45 billion and $2.65 billion, with challenges from ongoing COVID-19 disruptions.
Woodward, Inc. (NASDAQ: WWD) is set to announce its fiscal 2022 Q1 financial results on January 31, 2022, at approximately 4:00 p.m. EST. Following the release, the company will host a conference call at 4:30 p.m. EST to discuss its business and financial performance. Interested parties can access the call via Woodward's website or by phone. The company emphasizes its commitment to transparency with a replay available until February 14, 2022. Woodward specializes in control systems for aerospace and industrial markets, focusing on cleaner and more efficient solutions.
Woodward reported its fiscal year 2021 and Q4 results, showcasing net sales of $2.25 billion, down 10% from $2.50 billion in 2020. Q4 net sales increased by 7% to $570 million. Earnings per share for the year were $3.18, compared to $3.74 in 2020. Notably, free cash flow rose to $427 million from $302 million. CEO Thomas A. Gendron highlighted resilience amidst COVID-19 impacts and supply chain disruptions. For fiscal 2022, sales are projected between $2.45 and $2.65 billion, with earnings per share forecasted between $3.55 and $3.95.
Woodward, Inc. (NASDAQ: WWD) announced it will report its fiscal 2021 fourth quarter and full year financial results on November 18, 2021, at 4:00 p.m. EST. A conference call will follow at 4:30 p.m. EST, where an overview of the business and financial performance will be provided. Investors can participate via the company's website or by phone. Audio replays will be accessible until December 2, 2021. The company specializes in control system solutions for aerospace and industrial markets, promoting cleaner and more efficient equipment.
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