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Woodward, Inc. (WWD - Free Report) has entered into a five-year Maintenance, Repair and Overhaul (MRO) Services agreement with Lufthansa Technik.
Woodward will be undertaking MRO services for Lufthansa pertaining to specific components it makes, and this work will be carried out at WWD's facilities in Rockford, IL, and Prestwick, the U.K.
Lufthansa Technik, a subsidiary of the Lufthansa Group, focuses on the maintenance and repair of civil aircraft, including commercial, VIP and specialized mission aircraft. They offer services like upgrades, modifications and digital fleet support, as well as designing cabin products and managing materials.
Woodward emphasized that this agreement strengthened the more than 25-year partnership with Lufthansa Technik. Also, it enhances Lufthansa Technik's support for all Woodward engine components, both widebody and narrowbody, ensuring continued reliable service
Headquartered in Fort Collins, CO, Woodward is an independent designer, manufacturer and service provider of energy control and optimization solutions for aerospace and industrial markets.
WWD is witnessing strong end-market demand, especially in the aerospace segment.
In the third quarter of fiscal 2024, the Aerospace segment reported net sales of $518 million, marking an 8% increase from the previous year. This growth is due to higher sales in commercial OEM and aftermarket sectors, driven by higher aircraft usage. Woodward benefits from solid demand in both business areas and strong operational performance.
The company’s bottom-line performance is being driven by price realization amid inflationary pressure.
The company has revised its fiscal 2024 guidance due to lower China on-highway deliveries and supply chain disruptions, including delayed supplier deliveries and customer pushouts. These issues are expected to delay cash collection on planned deliveries beyond the fiscal 2024 end.
Net sales are expected to be in the $3.25-$3.3 billion band compared with the previous guidance of $3.25-$3.35 billion. Industrial segment revenues are expected to increase in the band of 11-13% compared with the prior guided range of 13-15%.
Aerospace segment revenues are anticipated to increase in the range of 12-14%, unchanged from the previous guidance.
WWD currently carries a Zacks Rank #3 (Hold). Shares of the company have gained 23.6% in the past year compared with the sub-industry’s growth of 8.6%.
Image Source: Zacks Investment Research
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Woodward (WWD) & Lufthansa Ink 5-Year MRO Services Deal
Woodward, Inc. (WWD - Free Report) has entered into a five-year Maintenance, Repair and Overhaul (MRO) Services agreement with Lufthansa Technik.
Woodward will be undertaking MRO services for Lufthansa pertaining to specific components it makes, and this work will be carried out at WWD's facilities in Rockford, IL, and Prestwick, the U.K.
Lufthansa Technik, a subsidiary of the Lufthansa Group, focuses on the maintenance and repair of civil aircraft, including commercial, VIP and specialized mission aircraft. They offer services like upgrades, modifications and digital fleet support, as well as designing cabin products and managing materials.
Woodward emphasized that this agreement strengthened the more than 25-year partnership with Lufthansa Technik. Also, it enhances Lufthansa Technik's support for all Woodward engine components, both widebody and narrowbody, ensuring continued reliable service
Headquartered in Fort Collins, CO, Woodward is an independent designer, manufacturer and service provider of energy control and optimization solutions for aerospace and industrial markets.
WWD is witnessing strong end-market demand, especially in the aerospace segment.
In the third quarter of fiscal 2024, the Aerospace segment reported net sales of $518 million, marking an 8% increase from the previous year. This growth is due to higher sales in commercial OEM and aftermarket sectors, driven by higher aircraft usage. Woodward benefits from solid demand in both business areas and strong operational performance.
The company’s bottom-line performance is being driven by price realization amid inflationary pressure.
The company has revised its fiscal 2024 guidance due to lower China on-highway deliveries and supply chain disruptions, including delayed supplier deliveries and customer pushouts. These issues are expected to delay cash collection on planned deliveries beyond the fiscal 2024 end.
Net sales are expected to be in the $3.25-$3.3 billion band compared with the previous guidance of $3.25-$3.35 billion. Industrial segment revenues are expected to increase in the band of 11-13% compared with the prior guided range of 13-15%.
Aerospace segment revenues are anticipated to increase in the range of 12-14%, unchanged from the previous guidance.
WWD currently carries a Zacks Rank #3 (Hold). Shares of the company have gained 23.6% in the past year compared with the sub-industry’s growth of 8.6%.
Image Source: Zacks Investment Research
Stocks to Consider
Badger Meter, Inc. (BMI - Free Report) , sporting a Zacks Rank #1 (Strong Buy) at present, has a long-term earnings growth expectation of 17.9% and delivered an earnings surprise of 12.89%, on average, in the trailing four quarters. In the last reported quarter, BMI delivered an earnings surprise of 14.29%. You can see the complete list of today’s Zacks #1 Rank stocks here.
Arista Networks, Inc. (ANET - Free Report) , sporting a Zacks Rank #1 at present, has a long-term earnings growth expectation of 17.2% and delivered an earnings surprise of 15.02%, on average, in the trailing four quarters. In the last reported quarter, ANET delivered an earnings surprise of 8.25%.
Itron, Inc. (ITRI - Free Report) , carrying a Zacks Rank #2 (Buy) at present, has a long-term earnings growth expectation of 26% and delivered an earnings surprise of 57.02%, on average, in the trailing four quarters. In the last reported quarter, ITRI delivered an earnings surprise of 26.04%.