Woodward 3Q Results: Postgame Scorecard
Woodward's (NASDAQ:WWD) net income fell in the third quarter.
Earnings and Revenue The company fell short of estimates with EPS of 40 cents a share and revenues of $460.2 million. Analysts were expecting EPS of 45 cents a share and revenues of $464.6 million.
The company's net income for the quarter was $28.3 million. This is a 21.5% decline from last year. Revenue climbed 5% from $438.5 million in the same period last year.
Company Fundamental Trends With last quarter's falling profit, The company ends a run of at least four consecutive quarters of year-over-year profit increases. The company's revenue has grown during at least each of the past four quarters on a year-over-year basis.
History Against Expectations The company missed estimates last quarter after meeting expectations the quarter before. It reported net income of 55 cents.
Official Comment: "Operational issues and increased investments in awarded system programs in our Aerospace segment have combined to make this a challenging quarter," said Thomas A. Gendron, Chairman and Chief Executive Officer. "Ongoing worldwide economic uncertainty is also pressuring sales growth."
Estimates provided by Zacks Investment Research and company fundamentals from Xignite Financials.