Stock Story -
Aerospace and defense company Woodward (NASDAQ:WWD) will be announcing earnings results tomorrow after market close. Here's what you need to know.
Woodward beat analysts' revenue expectations by 3.3% last quarter, reporting revenues of $835.3 million, up 16.3% year on year. It was a stunning quarter for the company, with an impressive beat of analysts' organic revenue estimates and optimistic earnings guidance for the full year.
Is Woodward a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Woodward's revenue to grow 6.5% year on year to $853.1 million, slowing from the 30.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.52 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Woodward has only missed Wall Street's revenue estimates once over the last two years, exceeding top-line expectations by 4.6% on average.
Looking at Woodward's peers in the aerospace segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Textron (NYSE:TXT) delivered year-on-year revenue growth of 3%, meeting analysts' expectations, and Hexcel reported revenues up 10.1%, topping estimates by 3%. Textron traded down 1.8% following the results while Hexcel was also down 7.5%.
Read the full analysis of Textron's and Hexcel's results on StockStory.
There has been positive sentiment among investors in the aerospace segment, with share prices up 10.9% on average over the last month. Woodward is up 6.8% during the same time and is heading into earnings with an average analyst price target of $191.9 (compared to the current share price of $183.13).
