Woodward Inc
For the period ended Dec 31, 2024. Filed Feb 4, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 31, 2024 · Filed Feb 4, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Overview
Operational Highlights
Quarter to Date Highlights
| Three Months EndedDecember 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Net sales: | ||
| Aerospace segment | $493,882 | $460,756 |
| Industrial segment | 278,843 | 325,974 |
| Consolidated net sales | $772,725 | $786,730 |
| Earnings: | ||
| Aerospace segment | $94,725 | $79,002 |
| Segment earnings as a percent of segment net sales | 19.2% | 17.2% |
| Industrial segment | $40,197 | $66,881 |
| Segment earnings as a percent of segment net sales | 14.4% | 20.5% |
| Consolidated net earnings | $87,091 | $90,044 |
| Adjusted net earnings | $82,567 | $89,811 |
| Effective tax rate | 14.5% | 17.9% |
| Adjusted effective tax rate | 14.0% | 17.7% |
| Consolidated diluted earnings per share | $1.42 | $1.46 |
| Consolidated adjusted diluted earnings per share | $1.35 | $1.45 |
| Earnings before interest and taxes ("EBIT") | $112,818 | $119,683 |
| Adjusted EBIT | $106,975 | $119,118 |
| Earnings before interest, taxes, depreciation, and amortization ("EBITDA") | $140,694 | $148,508 |
| Adjusted EBITDA | $134,851 | $147,943 |
Adjusted net earnings, adjusted effective tax rate, adjusted earnings per share, EBIT, adjusted EBIT, EBITDA, and adjusted EBITDA are non-U.S. GAAP financial measures. A description of these measures as well as a reconciliation of these non-U.S. GAAP financial measures to the most directly comparable U.S. GAAP financial measures can be found under the caption “Non-U.S. GAAP Financial Measures” in this Item 2 – Management’s Discussion and Analysis of Financial Condition and Results of Operations.
Liquidity Highlights
Net cash provided by operating activities for the first three months of fiscal year 2025 was $34,516, compared to $46,789 for the first three months of fiscal year 2024. The decrease in net cash provided by operating activities in the first three months of fiscal year 2025 compared to the first three months of the prior fiscal year is primarily attributable to the timing of certain cash payments for accounts payable, partially offset by timing of cash received from customers as well as increases in working capital.
For the first three months of fiscal year 2025, free cash flow was $942, compared to $4,977 for the first three months of fiscal year 2024. We define free cash flow as net cash flow provided by operating activities less payments for property, plant, and equipment. The decrease in free cash flow for the first three months of fiscal year 2025 as compared to the same period of the prior fiscal year was primarily attributable to lower earnings, partially offset by lower capital expenditures. Free cash flow is a non-U.S. GAAP financial measure. A description of this measure as well as a reconciliation of this non-U.S. GAAP financial measure to the most directly comparable U.S. GAAP financial measure can be found under the caption “Non-U.S. GAAP Financial Measures” in this Item 2 – Management’s Discussion and Analysis of Financial Condition and Results of Operations.
At December 31, 2024, we held $283,726 in cash and cash equivalents and had total outstanding debt of $902,174. We have additional borrowing availability of $734,108, net of outstanding letters of credit, under our revolving credit agreement. At December 31, 2024, we also had additional borrowing capacity of $19,730 under various foreign lines of credit and foreign overdraft facilities.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.