Woodward, Inc. has recently released its 10-Q report, providing a detailed look at its financial performance. The company operates through two segments, Aerospace and Industrial. The Aerospace segment provides control solutions for turbine engines and nacelles, flight deck controls, and aftermarket maintenance services. The Industrial segment offers control systems for industrial gas turbines, steam turbines, and other industrial applications.
In the second quarter of fiscal year 2025, Woodward reported consolidated net sales of $883.6 million, representing a 5.8% increase from the same period in fiscal year 2024. For the first half of fiscal year 2025, consolidated net sales totaled $1.66 billion, up 2.1% from the same period in fiscal year 2024.
The Aerospace segment reported net sales of $561.7 million in the second quarter of fiscal year 2025, compared to $497.5 million in the same period of fiscal year 2024. For the Industrial segment, net sales were $321.9 million in the second quarter of fiscal year 2025, down from $337.8 million in the same period of fiscal year 2024.
Woodward's consolidated net earnings for the second quarter of fiscal year 2025 were $108.9 million, an increase from $97.6 million in the same period of fiscal year 2024. The company's adjusted net earnings for the first half of fiscal year 2025 were $185.9 million, compared to $190.6 million in the same period of fiscal year 2024.
The company's effective tax rate for the second quarter of fiscal year 2025 was 18.1%, down from 19.1% in the same period of fiscal year 2024. For the first half of fiscal year 2025, the effective tax rate was 16.5%, compared to 18.6% in the same period of fiscal year 2024.
Woodward reported net cash provided by operating activities of $112.3 million for the first half of fiscal year 2025, down from $144.1 million in the first half of fiscal year 2024. The company's free cash flow for the first half of fiscal year 2025 was $60.4 million, a decrease from $87.8 million in the first half of fiscal year 2024.
At March 31, 2025, Woodward held $364.1 million in cash and cash equivalents and had total outstanding debt of $911.9 million. The company also had additional borrowing availability of $731.0 million under its revolving credit agreement.
Woodward's gross margin for the second quarter of fiscal year 2025 was 27.2%, down from 28.1% in the same period of fiscal year 2024. The company's gross margin for the first half of fiscal year 2025 was 25.9%, compared to 27.0% in the first half of fiscal year 2024.
As a result of these announcements, the company's shares have moved 2.7% on the market, and are now trading at a price of $192.65. If you want to know more, read the company's complete 10-Q report here.
