Woodward, the Fort Collins-based company that specializes in control systems for engines, has increased its sales and adjusted earnings outlook for the full year. Following strong demand in the fiscal first quarter, the company now expects sales between $3.15 billion and $3.3 billion, surpassing its previous forecast of $3.1 billion to $3.25 billion. Analysts polled by FactSet are anticipating sales of $3.2 billion.
Additionally, Woodward is now projecting per-share earnings of $5 to $5.40, after excluding certain one-time items. This is an improvement from their earlier guidance of $4.75 to $5.20 per share. Analysts are anticipating earnings of $5.08 per share.
Chip Blankenship, the Chief Executive of Woodward, attributed the positive momentum to strong end-market demand and operational performance.
In the fiscal quarter that ended on December 31, sales rose by an impressive 27%, reaching $787 million. Comparatively, the company reported a profit of $90 million, or $1.46 per share, in contrast to $29.6 million or 49 cents per share in the same quarter the previous year.
