Woodward Q4 Profit Beats Analyst Estimates (WWD)

Energy control and fuel system leader for the aerospace and energy industries, Woodward (NASDAQ: WWD) reported better than expected Q4 profits on Wednesday. Woodward said that net sales increased by 8% in the fourth quarter to $528.7 million, against $489.3 million in the same period the previous year. Woodward per share were $0.66 in Q4, 2012 against $0.60 in the same period the previous year and $0.57 the consensus analyst estimate for the quarter.

With this Woodward has beat analyst expectations for two straight quarters. Woodward has been able to post better than expected results for two quarters in a row because of the better sales in the aerospace segment as compared to the energy segment where wind turbines are facing a tough market.

The total EBIT for Q4 was $72.4 million, a 12% increase from the $64.8 million in the same period the previous year. Free cash flow increased by 15% from $52.2 million the fourth quarter the previous year to $59.8 million in Q4, 2012.

Woodward reported higher sales when compared to the same quarter a year earlier and the previous quarter. Even though the economic downturn has hit Woodward’s wind turbine unit, the aerospace unit was able to grow as well as the natural gas unit of the energy segment.

The improved results in the face of an economic downturn demonstrate the effectiveness of Woodward’s diversified businesses in generating profits in all economic climates.

Full Year Results

For 2012, Woodward declared net sales of $1.87 billion, a growth of 9% from the $1.71 billion declared the previous year. Net earnings for Woodward went up by 7% to $141.6 million against $132.2 million the previous year.

Woodward also anticipates a continued growth in the aerospace and natural gas segments.

About Woodward

Fort Collins, Colorado-based Woodward works in the energy solutions segment to deliver innovative solutions for energy control. Woodward brings cutting-edge technology to fuel, fluid, combustion, actuation and electronic control systems for the energy and aerospace sectors. Woodward has localized operations in fourteen countries to be in a better position to respond to regional changes.

Woodward’s aerospace components and systems optimize performance of commercial, military and business aircraft. Woodward’s energy components and systems improve the performance of industrial steam and gas turbines, compressors, wind turbines, reciprocating engines, electrical grids and more. Woodward provides systems and components that help in the cleaner and efficient use of fuels. Woodward’s customers comprise both leading original equipment manufacturers and its customers.

Market Movement

On Wednesday investors were quick to welcome the better results posted by Woodward. Woodward shares went up by 7.7% to $34.53 with 1.5 million shares being traded.

While Woodward shares were in demand, other shares declined on Wednesday. For instance, Online Resources (NASDAQ: ORCC) declined by 19.6% to $2.17 with 540,139 shares changing hands. Another company that saw its shares decline was Pactera Technology International (NASDAQ: PACTV). Pactera fell by 13.3% to $7.15 with 229,634 shares traded. Caesars Entertainment (NASDAQ: CZR) saw shares fall by 11.7% to close Wednesday’s session at $4.54 with 451,595 shares changing hands.

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Published by Benjamin Roussey

Benjamin Roussey is from Sacramento, California. He has two master’s degrees and served four years in the U.S. Navy. His bachelor’s degree is from CSUS (1999) where he was on a baseball pitching scholarship. His second master’s degree is an MBA in Global Management from the University of Phoenix (2006). He has worked for small businesses, public agencies, and large corporations. He has lived in Korea and Saudi Arabia where he was an ESL instructor. Benjamin spends his time in between Northern California and Cabo San Lucas, Mexico, committing himself to his craft of freelance and website writing. http://www.facebook.com/ben.rouss