Woodward (WWD) Tops Q2 EPS by 52c

Woodward (NASDAQ: WWD) reported Q2 EPS of $1.61, $0.52 better than the analyst estimate of $1.09. Revenue for the quarter came in at $720 million versus the consensus estimate of $702.09 million.

Fiscal Year 2020 Outlook:

Due to the significant global uncertainty, Woodward has withdrawn full-year 2020 guidance as communicated on April 6, 2020.

Mr. Gendron concluded, “The unpredictable economic impacts related to the COVID-19 crisis on Woodward, as well as on our customers and suppliers, has made accurate forecasting extremely difficult. Woodward has a strong balance sheet and substantial available liquidity, primarily through cash on hand and existing revolver capacity, to weather these unprecedented conditions. Our focus will continue to be on cash flow as we manage through this challenging operating environment. We currently anticipate positive free cash flow in the second half of fiscal 2020 and throughout this downturn. In addition, as we have done in the past, we are strategically prioritizing our investments and intend to emerge stronger as a result.”

For earnings history and earnings-related data on Woodward (WWD) click here.

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