FORT COLLINS, Colo. - Woodward , Inc. (NASDAQ:WWD) reported strong fourth quarter results that beat analyst expectations, sending shares up 8.1% in after-hours trading on Monday.
The aerospace and industrial equipment manufacturer posted adjusted earnings per share of $1.41, surpassing the analyst consensus of $1.26. Revenue came in at $854.5 million, also topping estimates of $810.57 million.
For the fourth quarter, Woodward's Aerospace segment saw sales jump 22% YoY to $552.8 million, driven by capacity improvements to meet customer demand. The Industrial segment reported a 6% YoY decline in sales to $301.7 million.
"We delivered record sales in fiscal 2024 with Woodward revenue exceeding $3 billion for the first time," said Chip Blankenship, Chairman and CEO. "Robust end market demand along with contributions from operational excellence fueled significant sales growth and earnings expansion."
For the full fiscal year 2024, Woodward reported net sales of $3.32 billion, up 14% from the previous year. Adjusted earnings per share for the year were $6.11, a 45% increase from fiscal 2023.
Looking ahead, Woodward provided fiscal 2025 guidance for sales between $3.30 billion and $3.50 billion and earnings per share in the range of $5.75 to $6.25.
The company expects continued strength in commercial aerospace markets and increased defense activity to drive growth in its Aerospace segment. However, it anticipates a significant decline in sales related to China's on-highway natural gas truck market in the Industrial segment.
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