Shares of Woodward (WWD +13.42%) rose on Tuesday after the aerospace and defense supplier reported strong quarterly growth metrics.
By the close of trading, Woodward's stock price was up more than 13%.
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Broad-based growth
Woodward's sales jumped 29% year over year to $996 million in its fiscal 2026 first quarter, which ended on Dec. 31.
The aircraft equipment manufacturer saw revenue in its aerospace division climb 29% to $635 million. Sales in the company's industrial segment, meanwhile, leaped 30% to $362 million.
The gains were fueled by rising demand for Woodward's products across multiple end markets, including commercial airlines, defense contractors, power generation companies, transportation providers, and oil and gas producers.
"Year-over-year growth was broad-based across both segments and reflected strong demand and disciplined execution by our global teams," CEO Chip Blankenship said in a press release.
NASDAQ: WWD
Key Data Points
Better still, Woodward's profitability improved as it scaled its operations. The industrial component maker's adjusted net earnings surged 62% to $134 million, or $2.17 per share. That handily surpassed Wall Street's estimates, which had called for adjusted per-share profits of $1.65.
Raised guidance
These strong results prompted Woodward to lift its full-year financial outlook. Management now expects sales growth of 14% to 18% in fiscal 2026, up from a prior forecast of 7% to 12%. The company also boosted its earnings-per-share target to between $8.20 and $8.60, up from $7.50 to $8.00.
Better still, Woodward increased its quarterly cash dividend by 14% to $0.32 per share.
