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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 today announced a quarterly cash dividend of $0.1625 per share, set for payment on November 29, 2021. Shareholders of record by November 15, 2021 will be eligible to receive this dividend. Woodward is recognized for its innovative control systems for the aerospace and industrial sectors, emphasizing cleaner and more efficient equipment. The company, headquartered in Fort Collins, Colorado, aims to maintain strong customer relationships while navigating market challenges.
Woodward, Inc. (NASDAQ:WWD) announced the appointment of Rajeev Bhalla, 58, to its Board of Directors, effective September 20, 2021. Bhalla brings extensive experience, having served as CFO for CIRCOR International, Sikorsky Aircraft, and Pratt & Whitney. His strategic insights in aerospace, defense, and industrial markets align with Woodward’s objectives. Chairman Thomas A. Gendron emphasized Bhalla's financial acumen and boardroom experience, which are expected to benefit the company significantly. Bhalla holds a Bachelor’s degree in Business Administration and is a CPA.
Woodward reported third-quarter fiscal 2021 results with net sales of $557 million, up 6% from $524 million a year ago. Net earnings and adjusted net earnings stood at $49 million, or $0.74 per share, compared to $38 million, or $0.61 per share in Q3 2020. The aerospace segment grew by 11%, reaching $341 million, while the industrial segment saw sales of $216 million. Year-to-date, net sales totaled $1.68 billion, down from $1.96 billion in 2020. Despite the challenges from COVID-19 and supply chain disruptions, Woodward's cash flow improved, with free cash flow at $297 million.
Woodward, Inc. (NASDAQ:WWD) declared a cash dividend of $0.1625 per share for Q3, payable on August 30, 2021, to stockholders of record as of August 16, 2021. The company focuses on control system solutions and components for aerospace and industrial markets, offering innovative technologies that enhance equipment efficiency and reliability. Woodward, headquartered in Fort Collins, Colorado, aims to support its customers' needs in cleaner and more reliable operations.
Woodward, Inc. (NASDAQ: WWD) will release its fiscal 2021 third quarter financial results on August 2, 2021, at 4:00 p.m. EDT. A conference call for investors will follow at 4:30 p.m. EDT, providing insights into the company's financial performance. Interested parties can listen live on the company's website or via phone. The release will include forward-looking statements subject to risks that might affect actual results. Detailed performance factors are discussed in Woodward's Annual Report and subsequent filings.
Woodward, Inc. (NASDAQ: WWD) reported its Q2 fiscal 2021 results, revealing net sales of $581 million, a 19% decline from $720 million in Q2 2020. Net earnings were $68 million or $1.04 per share, down from $91 million or $1.41 per share a year earlier. However, sequentially, net sales rose 8% and net earnings increased 64%. The aerospace segment saw net sales of $365 million, while industrial sales were $217 million. The ongoing pandemic continues to challenge recovery, leading to uncertain future guidance.
Woodward, Inc. (NASDAQ:WWD) declared a quarterly cash dividend of $0.1625 per share, payable on June 1, 2021. The record date for stockholders is May 18, 2021. Woodward, based in Fort Collins, Colorado, provides control system solutions for aerospace and industrial applications, helping customers improve equipment efficiency and reliability. The company continues to focus on innovation in fluid and motion control systems, serving both original equipment manufacturers and end users.
Woodward, Inc. (NASDAQ: WWD) will report its fiscal 2021 Q2 financial results on May 3, 2021, at 4:00 p.m. EDT. A conference call will follow at 4:30 p.m. EDT to discuss business and financial performance. Interested parties can listen live on the company’s website or via phone. An audio replay will be available until May 17, 2021. Woodward specializes in control system solutions for aerospace and industrial markets, aiding clients in delivering cleaner and more efficient equipment. Forward-looking statements in the release include risks and uncertainties that may affect actual performance.
Woodward, Inc. (NASDAQ: WWD) has reinstated its quarterly cash dividend at $0.1625 per share, increasing from $0.08125 in the previous quarter. This dividend is scheduled for payment on March 8, 2021, for shareholders on record as of February 22, 2021. The company attributes this significant increase to successful strategic actions taken amid the COVID-19 pandemic and a strengthened balance sheet as global markets stabilize. CEO Thomas A. Gendron expressed confidence in the company's recovery and commitment to generating shareholder value.
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