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Woodward, Inc. reports developments tied to its aerospace and industrial control systems business. The company designs, manufactures, and services components such as fuel controls, pumps, actuators, valves, sensors, electronics, ignition systems, fuel injection systems, and flight deck controls for turbine engines, aircraft, power generation, transportation, and oil and gas applications.
Recurring Woodward news includes quarterly results and outlook updates for its Aerospace and Industrial segments, cash dividend declarations, board and governance changes, and customer or service-network agreements. Recent company announcements also cover licensed repair service facility arrangements and parts distribution for commercial aviation engines, including support for Woodward components used in CFM LEAP, GEnx, and CF34 platforms.
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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.
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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.
Woodward, Inc. (NASDAQ:WWD) announced a collaboration with Airbus to provide the Fuel Cell Balance of Plant (BoP) solution for the ZEROe demonstrator, aimed at developing a zero-emission aircraft by 2035. This partnership emphasizes Woodward's advanced design capabilities and fuel technologies, crucial for hydrogen propulsion. Woodward's contributions include monitoring and control systems for hydrogen fuel. The President of Woodward Aerospace expressed pride in supporting Airbus's decarbonization goals through this innovative project.
Woodward reported its fiscal 2022 results, showing a 6% increase in net sales to $2.38 billion, driven by strong demand. However, net earnings fell to $172 million ($2.71 per share) from $209 million ($3.18 per share) due to industry challenges including inflation and supply chain disruptions. Fourth-quarter sales rose 12% to $640 million, but net earnings increased only slightly to $54 million. The company anticipates 2023 sales between $2.60 billion and $2.75 billion, with expected growth in Aerospace (14-19%), though supply chain risks remain a concern.
Woodward, Inc. (NASDAQ: WWD) will announce its fiscal 2022 fourth quarter and full year financial results on November 17, 2022, at 4:00 p.m. EST. A conference call will follow at 4:30 p.m. EST, providing insights into the company's business and financial performance. Investors can participate via the company's website or by phone. Woodward is a leader in energy conversion and control solutions for aerospace and industrial markets, dedicated to contributing to a cleaner, decarbonized world. Forward-looking statements in the release include risks and uncertainties regarding future performance.