Woodward, Inc. (WWD) has seen a decrease of 5.7% in the aftermarket because the company announced its first-quarter fiscal year 2022 results. However, the last trading session closed at $110.27 with an increase of 1.3%.
The first-quarter fiscal year 2022 Results by WWD – Learn more
WWD announced the first quarter fiscal year 2022 results on 31st January 2022. The company reported net sales of about $542 million with net earnings of $30 million. Not only this but the Adjusted net earnings were $36 million. In the first quarter of 2022, EBIT came out to be $45 million, which is less than that of $56 million in the same period last year. In addition, the EBIT totaled $53 million with an effective tax rate was 19.7%, 12.6 percent more than that of the previous year. Lastly, the adjusted effective tax rate was 20.6%.
What’s next?
Despite the fact that most market segments showed indications of recovery during the quarter, persistent COVID-19-related disruptions, such as distribution network bottlenecks and labor shortages, had a negative impact on operations and caused some consumer shipment delays. Furthermore, passenger traffic in the aerospace industry is improving, but defense spending has remained steady.
The Industrial division benefited from increased demand in maritime transportation and power generation, as well as a rebounding oil and gas industry, however, the China natural gas truck market remained difficult. Despite market forecasts for a patchy rebound, WWD is seeing indications of life across the board, and the company remains confident in its ability to fulfill its fiscal 2022 target.
The fiscal Year 2021 Results – What’s going on?
WWD reported the fiscal year 2021 results on 18th November 2021. The company reported net sales of $570 million with net sales of about $2.25 billion. Not only this but earnings per share were $3.18. In the fourth quarter of 2021, EBIT came out to be $69 million, less than that of $77 million in the previous quarter. Furthermore, adjusted EBIT was $74 million, up from $65 million in the same quarter of 2020. Last but not the least, in the fiscal year 2021, adjusted EBIT was $284 million, down from $343 million the previous year.
