Woodward (NASDAQ: WWD) reported Q2 EPS of $1.40, $0.35 better than the analyst estimate of $1.05. Revenue for the quarter came in at $671 million versus the consensus estimate of $660.23 million.

• Net sales were $759 million, up 38 percent. Organic net sales1 were $671 million, up 22 percent
• Earnings per share increased to $1.20, up from $0.60
• Adjusted earnings per share1 was $1.40, up from $0.82
• Cash from operations for the first six months of 2019 was $141 million; free cash flow1 was $87 million
• Raising fiscal year 2019 sales and earnings outlook

“Woodward delivered strong second quarter performance. Our Aerospace segment continues to deliver superior results driven by healthy OEM and aftermarket sales, and the Industrial segment is improving as expected, particularly in both natural gas and diesel engines,” said Thomas A. Gendron, Chairman and Chief Executive Officer of Woodward. “Although uncertainty remains in the second half of the year, we are encouraged by our first half performance and the continuing strength in our aerospace business, along with the increasing globalization of natural gas. As a result, we are raising our outlook for the full year and remain confident in our ability to deliver on our strategies to drive long-term value for our shareholders.”

GUIDANCE:

Woodward sees FY2019 EPS of $4.60-$4.80, versus the consensus of $4.63. Woodward sees FY2019 revenue of $2.8-2.9 billion, versus the consensus of $2.74 billion.

“As we look to the full year, we are seeing ongoing strong performance in our Aerospace segment and steady improvement in our Industrial segment. As a result, we are increasing our outlook,” said Mr. Gendron.

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