Aerospace and defense company Woodward (NASDAQ: WWD) will be reporting earnings this Wednesday after market close. Here’s what to expect.
Woodward beat analysts’ revenue expectations last quarter, reporting revenues of $996.5 million, up 29% year on year. It was an incredible quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.
Is Woodward a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Woodward’s revenue to grow 13.8% year on year, improving from the 5.8% increase it recorded in the same quarter last year.
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 multiple times 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. AAR delivered year-on-year revenue growth of 24.6%, beating analysts’ expectations by 4.1%, and Boeing reported revenues up 14%, topping estimates by 2.9%. AAR traded up 9.9% following the results while Boeing was also up 6.8%.
Read our full analysis of AAR’s results here and Boeing’s results here.
There has been positive sentiment among investors in the aerospace segment, with share prices up 15.1% on average over the last month. Woodward is up 7.3% during the same time and is heading into earnings with an average analyst price target of $431 (compared to the current share price of $366.48).
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