Woodward Q1 net sales up 14% to $619M; EPS flat at $0.49; free cash flow negative $19M

Fiscal Year 2023 Outlook Woodward’s previously stated fiscal 2023 outlook remains unchanged. Woodward’s fiscal 2023 outlook assumes improving operational and financial performance while continuing to navigate a challenging industry-wide environment. The supply chain and labor disruptions are anticipated to begin to subside during the second half of the fiscal year. However, the timing of improvement is uncertain and results could be negatively impacted if supply chain and labor disruptions do not improve as anticipated. The strong demand environment, as well as increased price realization, are expected to continue. Total net sales for fiscal 2023 are expected to be between $2.60 billion and $2.75 billion.

Woodward Reports First Quarter Fiscal Year 2023 Results FORT COLLINS, Colo., Jan. 30, 2023 (GLOBE NEWSWIRE) -- Woodward, Inc. (NASDAQ:WWD) today reported financial results for its first quarter of fiscal year 2023. (All amounts are presented on an as reported (U.S. GAAP) basis unless otherwise indicated. All per share amounts are presented on a fully diluted basis. All comparisons are made to the same period of the prior year unless otherwise stated.) First Quarter Overview Net sales were $619 million, compared to $542 million, an increase of 14 percent. Net earnings were $30 million, or $0.49 per share.