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Woodward Reports First Quarter Fiscal Year 2025 Results
~Results in Line with Expectations, on Track to Deliver Full-Year Guidance~ FORT COLLINS, Colo., Feb. 03, 2025 (GLOBE NEWSWIRE) -- Woodward, Inc. (NASDAQ:
About this update from Woodward, Inc.
[{"type":"text","content":"~Results in Line with Expectations, on Track to Deliver Full-Year Guidance~ FORT COLLINS, Colo., Feb. 03, 2025 (GLOBE NEWSWIRE) -- Woodward, Inc. (NASDAQ: WWD) today reported financial results for its first quarter of fiscal year 2025. All amounts are presented on an as reported (U.S. GAAP) basis unless otherwise indicated. All per share amounts are presented on a fully diluted basis. All comparisons are made to the same period of the prior year unless otherwise stated. All references to years are references to the Company’s fiscal year unless otherwise stated. First Quarter Overview First Quarter 2025Net sales$773M, -2%Net earnings$87M, -3%Adjusted net earnings¹$83M, -8%Earnings per share (EPS)$1.42, -3%Adjusted EPS¹$1.35, -7%Cash from operations$35M, -26%Free cash flow¹$1M, -81% “We’re pleased with our strong start to 2025, as our first quarter results were in line with our expectations. Our Aerospace segment performed well with growth in both sales and margin despite a pause in deliveries for some Boeing product lines and a reduced delivery rate in others,” said Chip Blankenship, Chairman and Chief Executive Officer. “High aircraft utilization continued to drive both commercial and defense aftermarket demand. As anticipated, increased smart defense demand contributed to strong sales in the quarter. In Industrial, broad-based strength in power generation, oil & gas, and marine transportation was offset by an expected decline in sales related to China on-highway natural gas trucks. “First quarter results reflect the effective execution of our strategy, reinforcing our confidence in our ability to achieve our full-year guidance. We remain committed to operational excellence, innovation and delivering profitable growth to build a stronger, more focused Woodward.” First Quarter Fiscal Year 2025 Company Results Total Company Results Three Months Ended December 31,Dollars in millions, except per share amounts 2024 2023 Year over YearIncome Statement Total Sales $773 $787 -2%Net Earnings 87 90 -3%Adjusted Net Earnings 83 90 -8%EPS $1.42 $1.46 -3%Adjusted EPS $1.35 $1.45 -7%EBIT 113 120 -6%Adjusted EBIT¹ 107 119 -10%Effective Tax Rate 14.5% 17.9% -340bpsAdjusted Effective Tax Rate¹ 14.0% 17.7% -370bps Cash Flow and Financial Position Cash from operating activities $35 $47 -26%Free cash flow 1 5 -81% Dividends Paid $15 $13 12%Share Rep...