Woodward (NASDAQ: WWD) reported Q2 EPS of $0.60, $0.06 worse than the analyst estimate of $0.66. Revenue for the quarter came in at $500 million versus the consensus estimate of $499.21 million.

• Net sales for the second quarter of 2017 were $500 million, compared to $479 million for the second quarter of last year.
• Net earnings for the second quarter of 2017 were $38 million, or $0.60 per share, compared to $41 million, or $0.65 per share, in the second quarter of 2016.
• Aerospace segment sales grew 10 percent and earnings increased 15 percent, while Industrial segment sales and earnings decreased 5 percent and 12 percent, respectively, as compared to the prior year quarter.
• Net cash generated from operating activities for the first half of fiscal 2017 was $130 million, compared to $362 million for the prior year. Free cash flow1 was $87 million for the first half of 2017, compared to $262 million for the same period of the prior year. The prior year included $250 million of proceeds from the formation of the joint venture with GE.

“Our Aerospace segment performance was strong this quarter and we are beginning to reap the benefits from strategic investments to increase market share on next generation aircraft programs,” said Thomas A. Gendron, Chairman and Chief Executive Officer. “While certain areas of the Industrial segment are showing signs of recovery, we are still experiencing challenges. Overall, we remain well-positioned to achieve our fiscal year expectations.”

For earnings history and earnings-related data on Woodward (WWD) click here.