Woodward Inc (NASDAQ:WWD) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Woodward Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 22.73% to $0.51 in the quarter versus EPS of $0.66 in the year-earlier quarter.
Revenue: Rose 5.12% to $483.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: reported adjusted EPS income of $0.51 per share. By that measure, the company missed the mean analyst estimate of $0.69. It missed the average revenue estimate of $549.87 million.
Quoting Management: “This quarter reflected improved operating performance in both the Aerospace and Energy segments, excluding our renewable power systems business, as a result of our lean initiatives focusing on operational excellence,” said Thomas A. Gendron, Chairman and Chief Executive Officer. “The special charges recorded in the quarter were necessary to align the renewable power business in response to ongoing unfavorable industry conditions.”
Key Stats (on next page)…
Revenue decreased 0.35% from $485.51 million in the previous quarter. EPS increased 0% from $0.51 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.59 to a profit $0.58. For the current year, the average estimate has moved down from a profit of $2.25 to a profit of $2.24 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)