Aerospace and defense company Woodward (NASDAQ: WWD) will be reporting earnings tomorrow afternoon. Here’s what to expect.
Woodward met analysts’ revenue expectations last quarter, reporting revenues of $772.7 million, down 1.8% year on year. It was a slower quarter for the company, with a significant miss of analysts’ adjusted operating income estimates and a slight miss of analysts’ organic revenue estimates.
Is Woodward a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Woodward’s revenue to be flat year on year at $835.6 million, slowing from the 16.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.46 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Woodward has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Woodward’s peers in the aerospace segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Boeing delivered year-on-year revenue growth of 17.7%, missing analysts’ expectations by 0.6%, and Textron reported revenues up 5.5%, topping estimates by 2.3%. Boeing traded up 8.5% following the results while Textron was also up 3.5%.
Read our full analysis of Boeing’s results here and Textron’s results here.
Investors in the aerospace segment have had fairly steady hands going into earnings, with share prices down 1.4% on average over the last month. Woodward is up 4.6% during the same time and is heading into earnings with an average analyst price target of $194.23 (compared to the current share price of $190.96).
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