Woodward Inc Stock Price, News & Analysis

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.

Woodward, Inc. (NASDAQ:WWD) reported Q1 2021 results showing net sales of $538 million, a 25% decline from $720 million a year prior. Net earnings were $42 million ($0.64 per share), down from $53 million ($0.83 per share) in Q1 2020. However, net cash from operations surged to $147 million from $27 million year-over-year. The Aerospace segment faced a 32% reduction in sales, while the Industrial segment fell 12%. The company remains cautious about future guidance due to the ongoing impact of COVID-19.

Woodward has appointed David Hess to its Board of Directors, effective immediately. Hess, 65, previously served as CEO of Arconic and held various executive roles at United Technologies for 38 years, including President of Pratt & Whitney. His extensive experience in the aerospace and defense sectors is expected to benefit Woodward's strategic direction. Hess holds degrees in Physics and Electrical Engineering, along with a Master's in Management from MIT. This leadership change aims to enhance collaboration and drive innovation within the company.

Woodward, Inc. (NASDAQ: WWD) will announce its fiscal 2021 Q1 financial results on February 1, 2021, at 4:00 p.m. EST, followed by a conference call at 4:30 p.m. EST. Interested parties can listen via the company’s website or by phone. Woodward specializes in control system solutions for aerospace and industrial markets, focusing on efficiency and reliability. Forward-looking statements in the release highlight the inherent risks and uncertainties that could affect actual outcomes.

Woodward has appointed Roger Alan Ross as the new President of Aero Systems, effective January 18. Ross brings over 25 years of aerospace experience, previously serving as President at StandardAero and holding executive roles at Esterline Technologies and United Technologies Aerospace Systems. His expertise in actuation, propulsion, and sensors aligns well with Woodward's operations in the aerospace sector. This strategic addition aims to enhance Woodward's growth and leadership in its markets, particularly in commercial and defense aircraft.