WWD earnings analysis
What we found in WWD's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Woodward, Inc. delivered impressive Q2 results with a 23.4% increase in revenue to $1.09 billion and an EPS of $2.27, exceeding expectations. This strong performance was driven by substantial growth in both the Aerospace and Industrial segments, prompting management to raise full-year guidance.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Strong Revenue Growth
- Revenue surged by 23.4% year-over-year, reaching $1.09 billion.
- Exceeds EPS Expectations
- Reported EPS of $2.27, compared to estimates of $2.07, an increase of 27.5% from $1.78 in the prior year.
- Improved Margins
- Gross margin increased to 29.0%, up from 27.2%, reflecting better pricing and cost management.
- Aerospace Segment Growth
- Aerospace segment revenue rose by 24.8% to $703.3 million compared to $561.7 million last year.
- Industrial Segment Performance
- Industrial segment also grew, reporting $387.2 million in revenue, up from $321.9 million, a 20.2% increase.
- Cash Flow Improvement
- Free cash flow for the first half was $108.5 million, up from $60.4 million last year, indicating enhanced financial health.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Increased Restructuring Charges
- Restructuring charges amounted to $6.8 million in Q2, reflecting ongoing adjustments in business operations.
- Free Cash Flow Decline in Q1
- Free cash flow dropped to $70 million in Q1 from $181 million in Q4 2025, raising liquidity concerns.
- Rising Debt Levels
- Total debt increased to $1.12 billion from $702.2 million as of September 30, 2025, indicating a higher leverage ratio.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $2.27
- Gross margin
- 29.0%
- Segment
- Aerospace: $703.3M
- Segment
- Industrial: $387.2M
What they said about what is next.
Management raised full-year guidance based on strong demand and performance.
The filing reads better than the one before it.
What came before.
- 10-Q · May 1, 2025
- Woodward reported quarterly revenue of $883,629,000 (up $48,286,000 vs. Q2 prior year) and diluted EPS of $1.78 (vs. $1.56 prior year). Aerospace was the primary growth driver (Aerospace sales $561,729,000 vs.…
- 10-Q · February 4, 2025
- Woodward reported quarterly net sales of $772,725,000 (down $14,005,000 or 1.8% vs. $786,730,000) with diluted EPS of $1.42 (down $0.04 vs. $1.46). Aerospace grew while Industrial weakened; operating margin compressed…
- 10-K · November 26, 2024
- Woodward emphasizes its strategy of providing energy control and optimization solutions to Aerospace and Industrial OEMs and aftermarket customers, leveraging long certification cycles and deep customer collaboration as…
- 10-Q · August 2, 2024
- Woodward reported quarterly revenue of $847,688,000 and diluted EPS of $1.63 for the three months ended June 30, 2024, both higher than the prior-year quarter. Aerospace and Industrial segments both grew (Aerospace to…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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