Woodward, Inc. (NASDAQ: WWD) shares are rising sharply on the charts today, gaining 13.22% in pre-market trading to $203.00 after posting robust financial results. In fiscal 2024, WWD’s revenue broke all previous records and surpassed $3 billion for the first time. This milestone reflects strong market demand combined with operational excellence that drove significant growth in both sales and earnings.
Aerospace Division Drives Growth
In its Aerospace segment, Woodward (WWD) reported increased sales across both commercial and defense original equipment manufacturers (OEMs), facilitated by enhanced production capacity to meet customer demands. Aftermarket sales also surged, benefiting from high aircraft utilization rates.
The industrial segment demonstrated strength as well, with notable increases in power generation and transportation-related sales. These results highlight the company’s dedication to fulfilling its value proposition and maintaining its purpose-driven approach.
Fiscal 2025 Outlook: Momentum Continues
Entering fiscal 2025, Woodward projects further revenue and margin growth in Aerospace, buoyed by robust commercial markets and heightened defense activity. In the Industrial segment, while broad-based growth in power generation and marine transportation is anticipated, a decline in sales tied to China’s on-highway natural gas truck market is expected to offset some gains.
Strategic Investments and Partnerships
Woodward’s recent $55 million transformation of its Aerospace Maintenance, Repair, and Overhaul (MRO) facility in Loves Park, Illinois, underscores its commitment to supporting aftermarket growth. The company also inked three critical MRO agreements:
- Lufthansa Technik: Continued servicing of Woodward-manufactured components.
- Alliance Airlines: Exclusive MRO contractor for the Thrust Reverser Actuation System on its CF34-10E-powered fleet.
- Turkish Technic: Partnership in Woodward’s global licensed asset management provider network for the expanding LEAP fleet.
Additionally, Woodward secured a prominent role in next-generation aerospace projects, including NASA and Boeing’s Transonic Truss-Braced Wing X-66A demonstrator and JetZero’s Blended Wing Body Demonstrator.
Global Expansion and Automation Enhancements
To support growth in power generation and transportation, Woodward began expanding its Glatten, Germany, facility. The company also advanced automation efforts, incorporating industrial and collaborative robots to enhance operational efficiency. These strategic actions position Woodward for sustained growth and innovation in the coming years.
