Woodward Second Quarter 2023 Earnings: Revenues Beat Expectations, EPS Lags
Woodward (NASDAQ:WWD) Second Quarter 2023 Results
Key Financial Results
Revenue: US$718.2m (up 22% from 2Q 2022).
Net income: US$35.5m (down 26% from 2Q 2022).
Profit margin: 4.9% (down from 8.2% in 2Q 2022). The decrease in margin was driven by higher expenses.
EPS: US$0.59 (down from US$0.77 in 2Q 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Woodward Revenues Beat Expectations, EPS Falls Short
Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) missed analyst estimates by 20%.
Looking ahead, revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Aerospace & Defense industry in the US.
Performance of the American Aerospace & Defense industry.
The company's shares are up 13% from a week ago.
Balance Sheet Analysis
Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. See our latest analysis on Woodward's balance sheet health.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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