Woodward's stock dropped 17.67% despite beating Q3 earnings expectations and narrowing full-year earnings guidance.
Industrial component maker Woodward (WWD) reported a 17.67% drop in stock value despite beating Q3 earnings expectations. Woodward earned $1.63 per share, up from $1.51, and revenue reached $847.7M, although $5M below estimates. The company's strong aerospace sales and higher-margin aftermarket sales were offset by a slowdown in industrial growth due to China's demand decrease. Woodward narrowed its full-year earnings guidance to $5.80-$6.00 per share, down from the $5.98 consensus.
July 29, 2024
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