Woodward, Inc. Reports Earnings Results for the First Quarter of 2015; Provides Earnings Guidance for 2015
January 20, 2015 at 09:29 pm
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Woodward, Inc. reported earnings results for the first quarter of 2015. The company reported net sales for the quarter increased 13.7% to $487.6 million, compared to $429.0 million in first quarter 2014. Earnings per share were $0.66 in the quarter, compared to $0.34 in the first quarter of 2014. EBIT for the quarter was $63 million compared to $39 million for the same quarter of the prior year, an increase of 61%. Free cash flow was an outflow of $9 million for the quarter compared to an inflow of $7 million for the first quarter of 2014, including $9 million of increased capital expenditures. The company generated $38 million of cash flow from operations for the first quarter of fiscal 2015 compared to $44 million for the same period of the prior year, primarily related to higher sales in the first quarter of 2015. Capital expenditures were $47 million for the first quarter of fiscal 2015 compared to $37 million for the same period of the prior year, reflecting growth in spending related to its capacity expansion projects.
For 2015, the company announced sales are expected to be between $2.05 and $2.15 billion, and earnings per share expected to be between $2.65 and $2.90 per share.
Woodward, Inc. is an independent designer, manufacturer, and service provider of control solutions for the aerospace and industrial markets. It operates through two segments: Aerospace and Industrial. Its Aerospace segment designs, manufactures, and services systems and products for the management of fuel, air, and combustion and motion control. These products include fuel pumps, metering units, actuators, air valves, specialty valves, fuel nozzles, and thrust reverser actuation systems for turbine engines and nacelles, as well as flight deck controls, actuators, servocontrols, motors, and sensors. Its Industrial segment designs, produces, and services systems and products for the management of fuel, air, fluids, gases, motion, combustion, and electricity. These products include actuators, valves, pumps, fuel injection systems, solenoids, ignition systems, speed controls, electronics and software, and sensors. Its production facilities are in the United States, Europe, and Asia.
WOODWARD, INC. 
