Woodward (WWD) Q4 Earnings Miss Estimates, Revenues Up Y/Y
Zacks Investment Research | Nov 18, 2019 08:46PM ET
Woodward, Inc. (NASDAQ:WWD) reported mixed fourth-quarter fiscal 2019 financial results, wherein earnings declined year over year but revenues jumped. The company’s performance was primarily driven by strong product portfolios and healthy market fundamentals in Aerospace and Industrial segments. However, customer bankruptcy in the renewables business was on the downside.
Net Earnings
On a GAAP basis, net earnings for the fiscal fourth quarter were $66.8 million or $1.03 per share compared with $74.5 million or $1.16 per share in the year-ago quarter. The year-over-year decline despite top-line growth was attributable to higher operating costs and income tax expense.
Adjusted net earnings for the fiscal fourth quarter came in at $78.7 million or $1.22 per share compared with $89.1 million or $1.39 per share in the year-ago quarter. The bottom line missed the Zacks Consensus Estimate by 7 cents.
Net earnings for fiscal 2019 were $259.6 million or $4.02 per share compared with $180.4 million or $2.82 per share a year ago. The improvement was primarily due to top-line growth.
Woodward, Inc. Price, Consensus and EPS Surprise
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