Woodward Profit Tops Estimates; Lifts Lower End Of FY Earnings Guidance

(RTTNews) - Woodward Inc (WWD) on Monday reported second-quarter net earnings of $43.9 million or $0.66 per share compared with $44.8 million or $0.66 per share last year.

Revenues for the quarter were higher at $493.2 million compared with $482.5 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.64 per share on revenues of $508 million for the quarter. Analysts' estimates typically exclude special items.

"We delivered a solid quarter despite anticipated economic challenges in our energy markets," said CEO Thomas Gendron. "Our outlook for the remainder of the fiscal year is on track and we expect to see continued strength in Aerospace and improvement in Energy."

For the full year 2015, the company now expects adjusted earnings of $2.70 to $2.90 per share, from prior guidance of $2.65 and $2.90 per share. It continues to expect revenues of $2.05 billion to $2.15 billion.

Analysts expect earnings of $2.81 per share on revenues of $2.11 billion for the year.

Woodward provides energy control and optimization solutions for the aerospace and energy markets.