Bullish Stock to Watch: Woodward, Inc. Common Stock (NASDAQ: WWD) Stock

Free $100 Forex No-Deposit Bonus

Woodward, Inc. Common Stock (NASDAQ: WWD) stock rose over 1.5% on November 23rd, 2020 (as of  9:30 am GMT-5; Source: Google finance) after the company posted better than expected results for the fourth quarter of FY 20. The company has reported adjusted net earnings for the fourth quarter of 2020 of $48 million compared to $79 million for the fourth quarter of the prior year.

Aerospace segment net sales for the fourth quarter of fiscal 2020 has fallen to $336 million, compared to $506 million for the fourth quarter a year ago, which represents a decline of 34%. The segment posted the earnings for the fourth quarter of 2020 of $58 million, compared to $111 million for the fourth quarter of last year. Segment earnings as a percent of segment net sales were 17.4% for the fourth quarter of 2020, compared to 22% in the same quarter of the prior year. Industrial segment net sales for the fourth quarter of fiscal 2020 fell 15% to $195 million. Industrial segment earnings for the fourth quarter of 2020 were 9.6 percent of segment net sales, compared to 4.8 percent of segment net sales for prior year quarter. Industrial segment earnings increased mainly due to cost reduction initiatives, which was partially offset by the impact of lower sales volume.

WWD in the fourth quarter of FY 20 has reported the adjusted earnings per share of 75 cents, beating the analysts’ estimates for the adjusted earnings per share of 54 cents, according to the Zacks Consensus Estimate. The company had reported 28 percent fall in the adjusted revenue to $531.26 million in the fourth quarter of FY 20, beating the analysts’ estimates for revenue by 2.10%.

Additionally, the company generated the net cash provided by operating activities for fiscal year 2020 of $349 million, compared to $391 million for the prior year. The payments for property, plant, and equipment for 2020 had fallen to $47 million, compared to $99 million for 2019. The company generated the adjusted free cash flow of $315 million for 2020. The increase in adjusted free cash flow was mainly due to lower capital expenditures, aggressive cost control and effective working capital management. Total debt stood at $838 million at the end of September, 2020, compared to $1.08 billion at September 30, 2019. During fiscal year 2020, $51 million was returned to stockholders by the company in the form of $38 million of dividends and $13 million of repurchased shares.

Copyright © 2021. All Rights Reserved. FXDailyReport.Com
Risk Warning: Trading CFDs is a high risk activity and you may lose more than your initial deposit. You should never invest money that you cannot afford to lose. FXDailyReport.com will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets.