Latest news with #Woodward
Forbes
13 hours ago
- Business
- Forbes
Deliciously Ella Expands Into The United States At Whole Foods Market
This year, Deliciously Ella has expanded to the United States, beginning with the launch of Oat Bars ... More that are now available nationwide at Whole Foods Market. Beginning as a personal blog in 2012, Deliciously Ella follows the journey of Ella Woodward as she began experimenting with plant-based cooking to help regain her health following a chronic illness diagnosis. 'I felt completely lost, both physically and mentally, and began exploring how diet and lifestyle might help regain my health,' says Woodward. At the time, there was very little content out there that made healthy eating feel inviting or achievable. Woodward claims it all felt restrictive or joyless, and she wanted to change that. Within two years, the site had over 120 million hits and a community built around it. In 2015, Woodward published her first cookbook, which became the fastest-selling debut cookbook ever in the United Kingdom, and then launched a plant-based app. 'We introduced our first products, starting with energy balls sold in Starbucks and Whole Foods Market in the UK shortly after that," she says. Since the first product launch in 2016, the brand now has more than 30 delicious, natural plant-based products, ranging from oat bars and cereals to chocolate-covered almonds. 'Our mission is simple: to help people eat real food again, with more plants, more of the time,' says Woodward. "We've built the business brick by brick. It's taken time, but it's allowed us to build something with real integrity. Our products are now category bestsellers, and we're proud to have built one of the UK's most trusted and recognized natural food brands. This year, Deliciously Ella has expanded to the United States, beginning with the launch of Oat Bars that are now available nationwide at Whole Foods. 'We wanted to wait until we could do it properly,' says Woodward. 'That meant building the right infrastructure, ensuring we could match the quality and consistency we're known for, and partnering with a retailer who truly shares our values. Whole Foods Market has long been that ideal partner. Launching our Oat Bars nationally with them has been a huge moment for the brand.' The bars are made with just a few ingredients that you can find in your kitchen cupboard. Deliciously Ella won't use emulsifiers, preservatives or anything ultra processed within the bars. 'I think that simplicity and honesty cut through, especially in a space where many labels are hard to decipher,' explains Woodward. The debut into the U.S. market has been huge for Deliciously Ella, but it's only the beginning. As with any launch, there was a period of trial and error, but Woodward wanted to make sure that the bars available in the U.S. were exactly the same as the ones available in the UK. 'We're incredibly proud that everything we make is free from additives, preservatives, flavourings, emulsifiers and anything ultra-processed,' says Woodward. 'That's a core part of who we are and something we'll never compromise on.' The debut into the U.S. market has been huge for the brand, but it's only the beginning. Deliciously Ella's next big focus is to expand the brand internationally, specifically within the U.S. The brand wants to open up with new retail partners and share the brand through events, collaborations and experiences. 'We're also publishing our eighth cookbook in early 2026 and just launched a new podcast, The Wellness Scoop, which had over one million downloads in the first two months and is quickly becoming a trusted space for evidence-based conversations on nutrition and health.'
Globe and Mail
2 days ago
- Business
- Globe and Mail
Woodward Q3 Sales Up 15 Percent
Key Points - Aerospace segment drove strong growth, with sales up 15.2% (GAAP) in Q3 FY2025 and margin expanding to 21.1%. - Free cash flow (non-GAAP) fell 27.8% year over year, - Management raised sales and adjusted EPS guidance for FY2025, but lowered adjusted free cash flow targets to $315–$350 million due to higher capital needs. These 10 stocks could mint the next wave of millionaires › Woodward (NASDAQ:WWD), a leading provider of control solutions for aerospace and industrial markets, released its earnings results for the third quarter of fiscal 2025 on July 28, 2025. The company reported revenue of $915 million (GAAP) for Q3 FY2025, outpacing consensus expectations of $886.15 million (GAAP). Earnings per share (EPS, GAAP) reached $1.76 for Q3 FY2025, also above the $1.63 analyst forecast (GAAP). This quarter was marked by a standout performance in the aerospace segment, despite ongoing difficulties in the industrial division and a marked drop in free cash flow. Overall, the company delivered improved profits and revenue (GAAP), but flagged soft spots and revised a key cash flow target downward. Metric Q3 2025 Q3 2025 Estimate Q3 2024 Y/Y Change EPS (GAAP) $1.76 $1.63 $1.63 8.0 % Revenue $915 million $886.15 million $847.7 million 8.0% EBIT (Non-GAAP) $137.2 million $131.9 million 4.0 % Free Cash Flow (Non-GAAP) $99 million $137 million (27.8 %) Revenue – Aerospace segment $596 million $518 million 15.2 % Revenue – Industrial segment $319 million $330 million -3.3 % Source: Analyst estimates provided by FactSet. Management expectations based on management's guidance, as provided in Q2 2025 earnings report. About Woodward: Business Overview and Focus Areas Woodward designs and manufactures advanced control systems for the aerospace and industrial markets. The company develops technology to manage and optimize energy use, including systems for controlling the flow of fluids, combustion, and electrical power, as well as devices for precision movement in critical machines. The company's success depends on several key focus areas. A strong presence in aerospace and defense, especially through involvement in platforms like the Boeing 787 and F-35, is vital. In the industrial sector, Woodward's controls are used in power generation, oil and gas, and transportation—sectors sensitive to broad economic and regulatory trends. The company invests heavily in research and development to meet new efficiency and emissions standards. Long-standing relationships with major customers also remain central to its growth strategy. Quarterly Highlights: Segment Trends, Financials, and Key Events Woodward's quarterly results drew strength from the aerospace division. Aerospace sales rose 15.2% compared to the prior year, led by strong demand in defense original equipment (OEM, meaning items provided to plane makers and the military) and commercial aftermarket (spare parts and servicing). Defense OEM sales were up more than 55% for the three months ended June 30, 2025 versus the prior year, while commercial aftermarket revenue jumped 30% (GAAP). Segment margin—a percentage showing how much profit is left after costs within the division—expanded to 21.1%, from 19.7% last year. Management cited pricing power and higher sales volumes as drivers behind these gains, noting some investments in manufacturing and innovation that partly offset that growth. However, executives also warned that the unusually strong surge in aftermarket sales, particularly spare parts, is not likely to repeat at the same level in coming quarters. The industrial division faced persistent weakness. Segment sales fell 3.2% year over year for the three months ended June 30, 2025, pressured by a continued drop in China on-highway natural gas truck demand—a key issue for the transportation business line. Transportation-related revenue fell 12.0% (GAAP). Oil and gas saw double-digit growth, while power generation revenue was roughly flat. The industrial margin dropped to 14.9 %, from 18.1 % in the prior year, reflecting reduced volumes and lower profit contribution from China business. Management acknowledged the "lumpy" nature of these industrial markets, with results swinging on the timing of large orders and projects. Research and development spending (GAAP) continued to rise, reaching $41.1 million, as Woodward pushed forward on new offerings. Among highlights was the MicroNet XT, an advanced turbine control system for marine and industrial engines, which began deliveries to the U.S. Navy for use in destroyer-class ships. Free cash flow (non-GAAP)—a metric that subtracts capital spending from operating cash generation—fell 27.8% compared to the same period last year. Management linked the decrease to higher working capital requirements. The company returned $45 million to shareholders through share repurchases and paid $17 million in dividends for the period. Looking Ahead: Guidance and Investor Focus Woodward raised its full-year sales guidance (GAAP) to the range of $3,450–3,525 million, up from the previous forecast of $3,375–3,500 million. Adjusted EPS (non-GAAP) guidance was also lifted to $6.50–6.75, up from $5.95–6.25. However, management lowered its full-year adjusted free cash flow target to $315–350 million, down from $350–400 million. Key risks for investors include whether aerospace aftermarket and defense OEM demand can be sustained, and risks remain around continued China transportation weakness, tariff pressures of $10–15 million, and customer concentration, with the top five customers still accounting for a large share of total sales. Revenue and net income presented using U.S. generally accepted accounting principles (GAAP) unless otherwise noted. Where to invest $1,000 right now When our analyst team has a stock tip, it can pay to listen. After all, Stock Advisor's total average return is 1,041%* — a market-crushing outperformance compared to 183% for the S&P 500. They just revealed what they believe are the 10 best stocks for investors to buy right now, available when you join Stock Advisor. See the stocks » *Stock Advisor returns as of July 28, 2025
Yahoo
2 days ago
- Business
- Yahoo
Woodward Reports Third Quarter Fiscal Year 2025 Results
Raises 2025 Sales and Earnings Guidance on Strong Year-to-Date Performance and Outlook FORT COLLINS, Colo., July 28, 2025 (GLOBE NEWSWIRE) -- Today, Woodward, Inc. (NASDAQ:WWD) reported financial results for its third 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. Third Quarter Overview Third Quarter 2025 Year-to-Date 2025 Net Sales $915M, 8% $2.6B, 4% Net Earnings $108M, 6% $304M, 5% Adjusted Net Earnings1 - $294M, 1% Earnings Per Share (EPS) $1.76, 8% $4.96, 7% Adjusted EPS1 - $4.80, 2% Cash from Operations $126, -18% $238, -20% Free Cash Flow1 $99, -28% $159, -29% "We delivered strong results in the third quarter underpinned by robust demand across our end markets, coupled with disciplined execution by our global teams,' said Chip Blankenship, Chairman and Chief Executive Officer. 'The Aerospace segment generated substantial sales growth and margin expansion, driven by smart defense and commercial services. This was partially offset by lower commercial OEM and defense services, although both achieved sequential improvement. Our Industrial business again delivered double-digit sales growth in oil and gas and marine transportation. This was offset by an expected decrease in China on-highway natural gas truck sales. Based on our strong year-to-date performance and solid fourth quarter outlook, we are raising our full-year sales and earnings guidance. However, given the demands to support higher sales in a dynamic supply chain and production environment, we are lowering our full-year free cash flow guidance. We remain focused on growth, operational excellence, and innovation, which continue to position Woodward to deliver sustained long-term shareholder value.' Third Quarter and Fiscal Year 2025 Company Results Total Company Results(Dollars in millions, except per share amounts) Three Months Ended June 30 Nine Months Ended June 30 2025 2024 Year over Year 2025 2024 Year over Year Income Statement Total Sales $ 915 $ 848 8.0 % $ 2,572 $ 2,470 4.1 % Net Earnings 108 102 6.2 % 304 290 5.1 % Adjusted Net Earnings1 - - - 294 293 0.6 % EPS $ 1.76 $ 1.63 8.0 % $ 4.96 $ 4.65 6.7 % Adjusted EPS1 - - - $ 4.80 $ 4.70 2.1 % EBIT 137 132 4.1 % 394 382 3.0 % Adjusted EBIT1 - - - 381 386 -1.4 % Effective Tax Rate 14.5 % 16.4 % -190 bps 15.8 % 17.8 % -200 bps Adjusted Effective Tax Rate1 - - - 15.5 % 17.8 % -230 bps Cash Flow and Financial Position Cash from Operating Activities $ 126 $ 153 -18.0 % $ 238 $ 297 -20.0 % Capital Expenditures 27 16 67.0 % 79 72 8.8 % Free Cash Flow 99 137 -27.8 % 159 225 -29.2 % Dividends Paid 17 15 10.7 % 48 43 10.9 % Share Repurchases 45 305 - 124 305 - Total Debt - - - 933 923 1.1 % EBITDA1Leverage - - - 1.5x 1.5x - Segment Results Aerospace(Dollars in millions) Three Months Ended June 30 Nine Months Ended June 30 2025 2024 Year over Year 2025 2024 Year over Year Commercial OEM $ 175 $ 190 -7.6 % $ 497 $ 545 -8.8 % Commercial Aftermarket 215 166 30.0 % 581 467 24.4 % Defense OEM 150 97 55.7 % 401 281 42.7 % Defense Aftermarket 55 66 -16.2 % 173 183 -5.7 % Sales 596 518 15.2 % 1,652 1,476 11.9 % Segment Earnings 126 102 23.5 % 345 279 23.6 % Segment Margin % 21.1 % 19.7 % 140 bps 20.9 % 18.9 % 200 bps The increase in Aerospace segment earnings in the third quarter was primarily a result of price realization and volume, partially offset by planned strategic investments in manufacturing capabilities to meet current and future growth, inflation, and unfavorable mix. The increase in Aerospace segment earnings for the nine months ended June 30, 2025, was primarily a result of price realization and volume, partially offset by planned strategic investments in manufacturing capabilities to meet current and future growth, inflation, and unfavorable mix. Industrial (Dollars in millions) Three Months Ended June 30 Nine Months Ended June 30 2025 2024 Year over Year 2025 2024 Year over Year Transportation $ 144 $ 163 -12.0 % $ 402 $ 512 -21.4 % Power Generation 109 110 -0.2 % 326 315 3.5 % Oil and Gas 66 57 16.1 % 193 168 14.7 % Sales 319 330 -3.2 % 920 994 -7.4 % Segment Earnings 48 60 -20.3 % 134 192 -30.3 % Segment Margin % 14.9 % 18.1 % -320 bps 14.5 % 19.3 % -480 bps The decrease in Industrial segment earnings in the third quarter was primarily a result of lower China on-highway volume and inflation, partially offset by price realization. The decrease in Industrial segment earnings in the nine months ended June 30, 2025, was primarily a result of lower China on-highway volume and unfavorable mix, partially offset by price realization. Nonsegment(Dollars in millions) Three Months Ended June 30 Nine Months Ended June 30 2025 2024 Year over Year 2025 2024 Year over Year Nonsegment Expenses $ (36 ) $ (30 ) 21.8 % $ (85 ) $ (89 ) -4.2 % Adjusted Nonsegment Expenses - - - (98 ) (85 ) 15.6 % Fiscal Year 2025 Guidance Woodward, Inc. and SubsidiariesRevised Guidance(In millions, except per share amount and percentages) Prior FY25 Guidance Revised FY25 Guidance April 28, 2025 July 28, 2025 Total Company Sales $3,375 - $3,500 $3,450 - $3,525 Adjusted Effective Tax Rate ~19% ~17% Adjusted Free Cash Flow $350 - $400 $315 - $350 Capital Expenditures ~$115 No change Shares ~61.5 No change Adjusted EPS $5.95 - $6.25 $6.50 - $6.75 Segment Data Aerospace Sales Growth Up 8% to 13% Up 11% to 13% Segment Earnings (% of Sales) 20% - 21% 21% - 21.5% Industrial Sales Growth Down 7% to 9% Down 5% to 7% Segment Earnings (% of Sales) 13% - 14% ~14.5% Conference Call Woodward will hold an investor conference call at 5:00 p.m. ET, July 28, 2025, to provide an overview of the financial performance for its fiscal year 2025 and third quarter ending June 30, 2025, business highlights, and guidance for fiscal 2025. You are invited to listen to the live webcast of our conference call, or a recording, and view or download accompanying presentation slides at our website, You may also listen to the call by dialing 1-800-715-9871 (domestic) or 1-646-307-1963 (international). Participants should call prior to the start time to allow for registration; the Conference ID is 4675940. The call and presentation will be available on the website by selecting 'Investors/Events & Presentations' from the menu and will remain accessible on the company's website for one year. About Woodward, Inc. Woodward is the global leader in the design, manufacture, and service of energy conversion and control solutions for the aerospace and industrial equipment markets. Our purpose is to design and deliver energy control solutions our partners count on to power a clean future. Our innovative fluid, combustion, electrical, propulsion and motion control systems perform in some of the world's harshest environments. Woodward is a global company headquartered in Fort Collins, Colorado, USA. Visit our website at Cautionary Statement Information in this press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties, including, but not limited to, our focus on growth, operational excellence and innovation, including the outcome of such efforts on our long-term success and shareholder value; statements regarding our business, expectations and guidance for the fourth quarter and fiscal year 2025, our guidance for sales, segment sales growth as compared to the prior fiscal year, adjusted earnings per share, segment earnings margin, adjusted effective tax rate, free cash flow, capital expenditures, and diluted weighted average shares outstanding, as well as our assumptions and expectations regarding our guidance and the factors that may impact guidance, and anticipated trends in our business and markets. Factors that could cause actual results and the timing of certain events to differ materially from the forward-looking statements include, but are not limited to: (1) global economic uncertainty and instability, including a potential global or regional recession, inflation and the impact on customer demand and our costs and expenses; (2) changes in or uncertainty with respect to global trade and economic policy, including tariff levels and retaliatory measures; (3) risks related to constraints and disruptions in the global supply chain and labor markets; (4) Woodward's long sales cycle; (5) risks related to Woodward's concentration of revenue among a relatively small number of customers; (6) Woodward's ability to implement and realize the intended effects of any restructuring efforts; (7) Woodward's ability to successfully manage competitive factors including expenses and fluctuations in sales; (8) changes and consolidations in the aerospace market; (9) Woodward's financial obligations including debt obligations and tax expenses and exposures; (10) risks related to Woodward's U.S. government contracting activities including potential changes in government spending patterns; (11) Woodward's ability to protect its intellectual property rights and avoid infringing the intellectual property rights of others; (12) changes in the estimates of fair value of reporting units or of long-lived assets; (13) environmental risks; (14) Woodward's continued access to a stable workforce and favorable labor relations with its employees; (15) Woodward's ability to manage various regulatory and legal matters; (16) risks from operating internationally; (17) cybersecurity and other technological risks; and other risk factors and risks described in Woodward's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended September 30, 2024, any subsequently filed Quarterly Report on Form 10-Q, as well as its Quarterly Report on Form 10-Q for the quarter ended June 30, 2025, which we expect to file shortly, and other risks described in Woodward's filings with the Securities and Exchange Commission. The forward-looking statements contained in this press release are made as of the date hereof and Woodward assumes no obligation to update such statements, except as required by applicable law. Woodward, Inc. and SubsidiariesCondensed Consolidated Statement of Earnings(Unaudited – In thousands) Three Months Ended June 30 Nine Months Ended June 30 2025 2024 2025 2024 Net sales $ 915,446 $ 847,688 $ 2,571,800 $ 2,469,761 Costs and expenses: Cost of goods sold 666,287 617,702 1,892,908 1,801,037 Selling, general, and administrative expenses 88,703 73,812 242,241 229,770 Research and development costs 41,088 38,728 108,525 105,987 Interest expense 11,234 11,516 35,464 34,482 Interest income (838 ) (1,728 ) (3,236 ) (4,494 ) Other (income) expense, net (17,864 ) (14,438 ) (65,755 ) (49,461 ) Total costs and expenses 788,610 725,592 2,210,147 2,117,321 Earnings before income taxes 126,836 122,096 361,653 352,440 Income taxes 18,388 20,021 57,165 62,765 Net earnings $ 108,448 $ 102,075 $ 304,488 $ 289,675 Earnings per share amounts: Basic earnings per share $ 1.82 $ 1.69 $ 5.12 $ 4.80 Diluted earnings per share $ 1.76 $ 1.63 $ 4.96 $ 4.65 Weighted average common shares outstanding: Basic 59,680 60,425 59,442 60,290 Diluted 61,488 62,522 61,374 62,295 Cash dividends paid per share $ 0.28 $ 0.25 $ 0.81 $ 0.72 Woodward, Inc. and SubsidiariesCondensed Consolidated Balance Sheets(Unaudited – In thousands) June 2025 September 2025 Assets Current assets: Cash and cash equivalents $ 473,159 $ 282,270 Accounts receivable 829,581 770,066 Inventories 657,121 609,092 Income taxes receivable 35,883 22,016 Other current assets 65,413 60,167 Total current assets 2,061,157 1,743,611 Property, plant, and equipment, net 942,103 940,715 Goodwill 813,779 806,643 Intangible assets, net 435,057 440,419 Deferred income tax assets 85,714 84,392 Other assets 374,040 353,135 Total assets $ 4,711,850 $ 4,368,915 Liabilities and stockholders' equity Current liabilities: Short-term debt $ 353,000 $ 217,000 Current portion of long-term debt 76,020 85,719 Accounts payable 284,029 287,457 Income taxes payable 35,768 40,692 Accrued liabilities 261,381 292,642 Total current liabilities 1,010,198 923,510 Long-term debt, less current portion 503,851 569,751 Deferred income tax liabilities 127,744 121,858 Other liabilities 601,491 577,380 Total liabilities 2,243,284 2,192,499 Stockholders' equity 2,468,566 2,176,416 Total liabilities and stockholders' equity $ 4,711,850 $ 4,368,915 Woodward, Inc. and SubsidiariesCondensed Consolidated Statements of Cash Flows(Unaudited – In thousands) Nine Months Ended June 30 2025 2024 Net cash provided by operating activities $ 237,976 $ 297,329 Cash flows from investing activities: Payments for purchase of property, plant, and equipment (78,537 ) (72,193 ) Proceeds from sale of assets 41 84 Proceeds from business divestitures 48,043 900 Payments for short-term investments - (6,767 ) Proceeds from sales of short-term investments 2,935 9,737 Net cash used in investing activities (27,518 ) (68,239 ) Cash flows from financing activities: Cash dividends paid (48,195 ) (43,457 ) Proceeds from sales of treasury stock 96,064 90,142 Payments for repurchases of common stock (124,276 ) (304,811 ) Borrowings on revolving lines of credit and short-term borrowings 1,957,900 2,258,600 Payments on revolving lines of credit and short-term borrowings (1,821,900 ) (1,983,800 ) Payments of long-term debt and finance lease obligations (85,719 ) (75,644 ) Net cash used in financing activities (26,126 ) (58,970 ) Effect of exchange rate changes on cash and cash equivalents 6,557 765 Net change in cash and cash equivalents 190,889 170,885 Cash and cash equivalents at beginning of year 282,270 137,447 Cash and cash equivalents at end of period $ 473,159 $ 308,332 Woodward, Inc. and SubsidiariesSegment Net Sales and Net Earnings(Unaudited – In thousands) Three Months Ended June 30 Nine Months Ended June 30 2025 2024 2025 2024 Segment net sales: Aerospace 595,990 517,560 1,651,601 1,475,828 Industrial 319,456 330,128 920,199 993,933 Total consolidated net sales $ 915,446 $ 847,688 $ 2,571,800 $ 2,469,761 Segment earnings*: Aerospace 125,740 101,842 345,081 279,295 As a percent of segment net sales 21.1 % 19.7 % 20.9 % 18.9 % Industrial 47,622 59,717 133,786 191,842 As a percent of segment net sales 14.9 % 18.1 % 14.5 % 19.3 % Total segment earnings $ 173,362 $ 161,559 $ 478,867 $ 471,137 Nonsegment expenses (36,130 ) (29,675 ) (84,986 ) (88,709 ) EBIT $ 137,232 $ 131,884 $ 393,881 $ 382,428 Interest expense, net (10,396 ) (9,788 ) (32,228 ) (29,988 ) Consolidated earnings before income taxes $ 126,836 $ 122,096 $ 361,653 $ 352,440 Payments for property, plant and equipment $ 26,547 $ 15,892 $ 78,537 $ 72,193 Depreciation expense $ 21,482 $ 20,661 $ 63,238 $ 61,494 There were no adjustments to net earnings, earnings per share, adjusted effective tax rate, adjusted nonsegment, and adjusted income tax expense in the three months ended June 30, 2025 or the three months ended June 30, 2024. Woodward, Inc. and SubsidiariesReconciliation of Net Earnings to Adjusted Earnings1(Unaudited – In thousands, except per share amounts) Nine Months Ended June 30 2025 2024 Net Earnings Earnings Per Share Net Earnings Earnings Per Share Net Earnings (U.S. GAAP) $ 304,488 $ 4.96 $ 289,675 $ 4.65 Non-U.S. GAAP Adjustments Product rationalization1 (20,524 ) (0.33 ) - - Non-recurring gain related to a previous acquisition1 - - (4,803 ) (0.08 ) Business development activities1 7,310 0.12 5,902 0.09 Certain non-restructuring separation costs2 - - 2,666 0.05 Tax Effect of Non-U.S. GAAP Net Earnings Adjustments 3,130 0.05 (729 ) (0.01 ) Total non-U.S. GAAP Adjustments (10,084 ) (0.16 ) 3,036 0.05 Adjusted Net Earnings(Non-U.S. GAAP) $ 294,404 $ 4.80 $ 292,711 $ 4.70 Presented in the line item "Other (income) expense, net" in Woodward's Condensed Consolidated Statement of Earnings. Presented in item "Selling, general and administrative" expenses in Woodward's Condensed Consolidated Statement of Earnings. Woodward, Inc. and SubsidiariesReconciliation of Income Tax Expenseto Adjusted Income Tax Expense1(Unaudited – In thousands) Nine Months Ended June 30 2025 2024 Income tax expense (U.S. GAAP) $ 57,165 $ 62,765 Tax Effect of Non-U.S. GAAP Net Earnings Adjustments (3,130 ) 729 Adjusted Income Tax Expense (Non-U.S. GAAP) $ 54,035 $ 63,494 Adjusted Income Tax Rate (Non-U.S. GAAP) 15.5 % 17.8 % Woodward, Inc. and SubsidiariesReconciliation of Net Earning to EBIT1(Unaudited – In thousands) Three Months Ended June 30 2025 2024 Net Earnings (U.S. GAAP) $ 108,448 $ 102,075 Income Tax Expense 18,388 20,021 Interest Expense 11,234 11,516 Interest Income (838 ) (1,728 ) EBIT (Non-U.S. GAAP) 137,232 131,884 Woodward, Inc. and SubsidiariesReconciliation of Net Earning to EBIT1and Adjusted EBIT1(Unaudited – In thousands) Nine Months Ended June 30 2025 2024 Net Earnings (U.S. GAAP) $ 304,488 $ 289,675 Income Tax Expense 57,165 62,765 Interest Expense 35,464 34,482 Interest Income (3,236 ) (4,494 ) EBIT (Non-U.S. GAAP) 393,881 382,428 Total non-U.S. GAAP Adjustments (13,214 ) 3,765 Adjusted EBIT (Non-U.S. GAAP) $ 380,667 $ 386,193 Woodward, Inc. and SubsidiariesReconciliation of Net Earning to EBITDA1(Unaudited – In thousands) Three Months Ended June 30 2025 2024 Net Earnings (U.S. GAAP) $ 108,448 $ 102,075 Income Tax Expense 18,388 20,021 Interest Expense 11,234 11,516 Interest Income (838 ) (1,728 ) Amortization of intangible assets 7,172 8,131 Depreciation Expanse 21,482 20,661 EBITDA (Non-U.S. GAAP) 165,886 160,676 Woodward, Inc. and SubsidiariesReconciliation of Net Earning to EBITDA1and Adjusted EBITDA1(Unaudited – In thousands) Nine Months Ended June 30 2025 2024 Net Earnings (U.S. GAAP) $ 304,488 $ 289,675 Income Tax Expense 57,165 62,765 Interest Expense 35,464 34,482 Interest Income (3,236 ) (4,494 ) Amortization of Intangible Assets 20,858 25,348 Depreciation Expanse 63,238 61,494 EBITDA (Non-U.S. GAAP) 477,977 469,270 Total non-U.S. GAAP Adjustments (13,214 ) 3,765 Adjusted EBITDA (Non-U.S. GAAP) $ 464,763 $ 473,035 Woodward, Inc. and SubsidiariesReconciliation of Non-Segment Expenses to Adjusted Non-Segment Expenses1 (Unaudited – In thousands) Nine Months Ended June 30 2025 2024 Non-Segment Expenses (U.S. GAAP) $ (84,986 ) $ (88,709 ) Product rationalization (20,524 ) - Non-recurring gain related to a previous acquisition - (4,803 ) Business development activities 7,310 5,902 Certain non-restructuring separation costs - 2,666 Adjusted Non-Segment Expenses (Non-U.S. GAAP) $ (98,200 ) $ (84,944 ) Woodward, Inc. and SubsidiariesReconciliation of Cash Flow from Operating Activitiesto Free Cash Flow1 (Unaudited – In thousands) Nine Months Ended June 30 2025 2024 Net cash provided by operating activities (U.S. GAAP) $ 237,976 $ 297,329 Payments for property, plant, and equipment (78,537 ) (72,193 ) Free cash flow (Non-U.S. GAAP) $ 159,439 $ 225,136 1Adjusted and Non-U.S. GAAP Financial Measures: Adjusted net earnings, adjusted earnings per share, adjusted EBIT, adjusted EBITDA, adjusted income tax expense, adjusted effective tax rate, and adjusted nonsegment expenses exclude, as applicable (i) product rationalization, (ii) a non-recurring gain related to a previous acquisition, (iii) costs related to business development activities, and (iv) certain non-restructuring separation costs. The product rationalization adjustment pertains to gains related to the elimination of certain product lines. The Company believes that these excluded items are short‐term in nature, not directly related to the ongoing operations of the business, and therefore, the exclusion of them illustrates more clearly how the underlying business of Woodward is performing. Guidance with respect to non-U.S. GAAP measures as provided in this release excludes, as applicable, (i) product rationalization, and (ii) business development activities. EBIT (earnings before interest and taxes), EBITDA (earnings before interest, taxes, depreciation and amortization), free cash flow, adjusted net earnings, adjusted earnings per share, adjusted EBIT, adjusted EBITDA, adjusted income tax expense, adjusted effective tax rate, and adjusted nonsegment expenses are financial measures not prepared and presented in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP). Management uses EBIT and adjusted EBIT to evaluate Woodward's operating performance without the impacts of financing and tax related considerations. Management uses EBITDA and adjusted EBITDA in evaluating Woodward's operating performance, making business decisions, including developing budgets, managing expenditures, forecasting future periods, and evaluating capital structure impacts of various strategic scenarios. Management also uses free cash flow, which is derived from net cash provided by or used in operating activities less payments for property, plant, and equipment in reviewing the financial performance of Woodward's various business segments and evaluating cash generation levels. Securities analysts, investors, and others frequently use EBIT, EBITDA, and free cash flow in their evaluation of companies, particularly those with significant property, plant, and equipment, and intangible assets that are subject to amortization. The use of any of these non-U.S. GAAP financial measures is not intended to be considered in isolation of, or as a substitute for, the financial information prepared and presented in accordance with U.S. GAAP. Because adjusted net earnings, adjusted earnings per share, EBIT, EBITDA, adjusted EBIT, and adjusted EBITDA exclude certain financial information compared with net earnings, the most comparable U.S. GAAP financial measure, users of this financial information should consider the information that is excluded. Free cash flow does not necessarily represent funds available for discretionary use and is not necessarily a measure of our ability to fund our cash needs. Woodward's calculations of EBIT, EBITDA, adjusted net earnings, adjusted earnings per share, adjusted EBIT, adjusted EBITDA, adjusted effective tax rate, adjusted nonsegment expenses, and free cash flow may differ from similarly titled measures used by other companies, limiting their usefulness as comparative measures. 2Website, Facebook, LinkedIn: Woodward has used, and intends to continue to use, its Investor Relations website, LinkedIn page, and Facebook page as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Contact: Dan Provaznik Director, Investor
Yahoo
3 days ago
- Business
- Yahoo
Woodward (WWD) Reports Earnings Tomorrow: What To Expect
Aerospace and defense company Woodward (NASDAQ:WWD) will be reporting results this Monday after market hours. Here's what to look for. Woodward beat analysts' revenue expectations by 5.7% last quarter, reporting revenues of $883.6 million, up 5.8% year on year. It was a strong quarter for the company, with a solid beat of analysts' organic revenue estimates and an impressive beat of analysts' EBITDA estimates. Is Woodward a buy or sell going into earnings? Read our full analysis here, it's free. This quarter, analysts are expecting Woodward's revenue to grow 4.4% year on year to $885.2 million, slowing from the 5.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.64 per share. Heading into earnings, analysts covering the company have grown increasingly bullish with revenue estimates seeing 3 upward revisions over the last 30 days (we track 10 analysts). Woodward has missed Wall Street's revenue estimates twice over the last two years. 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. AAR delivered year-on-year revenue growth of 14.9%, beating analysts' expectations by 8.6%, and Textron reported revenues up 5.4%, topping estimates by 2.4%. AAR traded up 13.4% following the results while Textron was down 8.9%. Read our full analysis of AAR's results here and Textron's results here. There has been positive sentiment among investors in the aerospace segment, with share prices up 6.7% on average over the last month. Woodward is up 5.3% during the same time and is heading into earnings with an average analyst price target of $266.31 (compared to the current share price of $259). Today's young investors likely haven't read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next. StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Business
- Yahoo
Woodward (WWD) Reports Earnings Tomorrow: What To Expect
Aerospace and defense company Woodward (NASDAQ:WWD) will be reporting results this Monday after market hours. Here's what to look for. Woodward beat analysts' revenue expectations by 5.7% last quarter, reporting revenues of $883.6 million, up 5.8% year on year. It was a strong quarter for the company, with a solid beat of analysts' organic revenue estimates and an impressive beat of analysts' EBITDA estimates. Is Woodward a buy or sell going into earnings? Read our full analysis here, it's free. This quarter, analysts are expecting Woodward's revenue to grow 4.4% year on year to $885.2 million, slowing from the 5.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.64 per share. Heading into earnings, analysts covering the company have grown increasingly bullish with revenue estimates seeing 3 upward revisions over the last 30 days (we track 10 analysts). Woodward has missed Wall Street's revenue estimates twice over the last two years. 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. AAR delivered year-on-year revenue growth of 14.9%, beating analysts' expectations by 8.6%, and Textron reported revenues up 5.4%, topping estimates by 2.4%. AAR traded up 13.4% following the results while Textron was down 8.9%. Read our full analysis of AAR's results here and Textron's results here. There has been positive sentiment among investors in the aerospace segment, with share prices up 6.7% on average over the last month. Woodward is up 5.3% during the same time and is heading into earnings with an average analyst price target of $266.31 (compared to the current share price of $259). Today's young investors likely haven't read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next. StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.
