Woodward (WWD) Misses Q3 EPS by 23c

Woodward (NASDAQ: WWD) reported Q3 EPS of $0.74, $0.23 worse than the analyst estimate of $0.97. Revenue for the quarter came in at $557 million versus the consensus estimate of $617.09 million.

“We delivered significantly improved performance in the quarter compared to the prior year period. Global economies are beginning to recover; however, both of our segments were impacted by COVID, supply chain disruptions and regional market volatility,” said Thomas A. Gendron, Chairman and Chief Executive Officer. “Woodward continues to generate strong cash flow by leveraging our operational structure and optimizing working capital, which is enabling increased investments in growth opportunities and a return to our pre-COVID capital allocation strategy to drive long-term shareholder value.”

GUIDANCE:

While we expect sales, earnings and free cash flow results for the fourth quarter to be higher than the third quarter, considerable uncertainty remains with respect to the COVID-19 variants, global supply chain disruptions, and regional market volatility, all of which are expected to continue. Accordingly, we are not providing more detailed guidance at this time.

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

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