Woodward: Fiscal 1Q Earnings Snapshot
FORT COLLINS, Colo. (AP) _ Woodward Inc. (WWD) on Monday reported fiscal first-quarter earnings of $49.1 million.
The Fort Collins, Colorado-based company said it had net income of 77 cents per share. Earnings, adjusted for non-recurring costs, came to 96 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 74 cents per share.
The maker of cockpit controls and other equipment for the defense and aerospace markets posted revenue of $652.8 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $584.6 million.
Woodward expects full-year earnings in the range of $4.40 to $4.70 per share, with revenue in the range of $2.65 billion to $2.8 billion.
Woodward shares have increased 4 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $77.33, a climb of almost 2 percent in the last 12 months.