Woodward Inc gains on Q3 profit beat

Woodward

18/11/2022 14:40

** Aerospace and energy controls manufacturer Woodward Inc's
 shares  WWD.O  rise 1.4% to $99.5 in early trade
    ** Co reports Q3 adj earnings of 84 cents/shr vs analysts'
estimates of 76 cents/shr - Refinitiv IBES data; beats EPS
estimates for fifth quarter out of 12 
    ** CEO Chip Blankenship says while co recorded strong demand
in the quarter, profitability was impacted by industry headwinds
including labor, raw material inflation and supply-chain
disruptions
    ** WWD forecasts FY23 EPS in the range of $3.15 - $3.60 vs
estimates of $3.58
    ** At least three brokerages raise PTs for stock
    ** Two of eleven brokerages rate the stock "strong buy",
eight "hold" and one "sell"; their median PT is $103 - Refinitiv
data
    ** Stock down 9.1% YTD
 (Reporting by Shristi  Achar A in Bengaluru)
 ((Shristi.AcharA@thomsonreuters.com;))