Woodward, Inc. Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>Woodward, Inc. has filed its Q1 2024 10-Q report, detailing financial positions as of December 31, 2023.</b>

AI Summary

Woodward, Inc. (WWD) filed a Quarterly Report (10-Q) with the SEC on February 2, 2024. Woodward, Inc. filed a 10-Q report for the period ending December 31, 2023. The filing covers the first quarter of fiscal year 2024. Key financial elements mentioned include Property, Plant, and Equipment Net, and Accrued Liabilities Current. The company's fiscal year ends on September 30. Woodward, Inc. is incorporated in Delaware and operates in the Electrical Industrial Apparatus sector.

Why It Matters

For investors and stakeholders tracking Woodward, Inc., this filing contains several important signals. This 10-Q filing provides an updated snapshot of Woodward's financial health and operational segments for investors and analysts. The detailed financial information allows stakeholders to assess the company's performance and make informed investment decisions.

Risk Assessment

Risk Level: medium — Woodward, Inc. shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q), which inherently contains detailed financial information and risk disclosures, but does not indicate any immediate, severe financial distress or significant new risks.

Analyst Insight

Review the detailed financial statements and segment performance within the 10-Q to understand Woodward's current operational and financial standing.

Key Numbers

• 20231231 — Period of Report (Fiscal quarter end date)
• 20240202 — Filed As Of Date (Date the report was filed)
• 0930 — Fiscal Year End (Company's fiscal year end month and day)
• 3620 — Standard Industrial Classification (Industry code for Electrical Industrial Apparatus)

Key Players & Entities

• Woodward, Inc. (company) — Filer name
• 20231231 (date) — Period of report
• 20240202 (date) — Filed as of date
• DE (jurisdiction) — State of incorporation
• 3620 (sic_code) — Standard Industrial Classification
• 970-482-5811 (phone) — Business phone
• 19920703 (date) — Date of name change
• 001-39265 (filing_number) — SEC file number

FAQ

Risk Factors

• Regulatory Compliance [medium — regulatory]: The company must comply with various regulations impacting its operations and reporting.
• Market Demand Fluctuations [medium — market]: Changes in demand for its products in aerospace, defense, and industrial markets can affect revenue.
• Supply Chain Disruptions [medium — operational]: Disruptions in the global supply chain can impact production and delivery schedules.
• Interest Rate and Currency Risks [medium — financial]: The company is exposed to risks associated with fluctuations in interest rates and foreign currency exchange rates.
• Product Development and Innovation [medium — operational]: Failure to innovate and develop new products could lead to a loss of competitive advantage.

Key Dates

• 2023-12-31: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-02-02: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Key Financial Figures

• $0.001455 — ch registered Common Stock, par value $0.001455 per share WWD NASDAQ Global Select

Filing Documents

• wwd-20231231.htm (10-Q) — 2883KB
• wwd-ex10_1.htm (EX-10.1) — 40KB
• wwd-ex31_1.htm (EX-31.1) — 18KB
• wwd-ex31_2.htm (EX-31.2) — 18KB
• wwd-ex32_1.htm (EX-32.1) — 13KB
• 0000950170-24-010257.txt (&nbsp;) — 14493KB
• wwd-20231231.xsd (EX-101.SCH) — 1946KB
• wwd-20231231_htm.xml (XML) — 3239KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 1 Condensed Consolidated Statements of Earnings 1 Condensed Consolidated Statements of Comprehensive Earnings 2 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Cash Flows 4 Condensed Consolidated Statements of Stockholders' Equity 5 Notes to Condensed Consolidated Financial Statements 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 25

Forward Looking Statements

Forward Looking Statements 25 Overview 26 Results of Operations 27 Liquidity and Capital Resources 30 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 34 Item 4.

Controls and Procedures

Controls and Procedures 34

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 35 Item 1A.

Risk Factors

Risk Factors 35 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 35 Item 5. Other Information 35 Item 6. Exhibits 36

– FINANCI AL INFORMATION

PART I – FINANCI AL INFORMATION

Financi al Statements

Item 1. Financi al Statements WOODWARD, INC. CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (In thousands, except per share amounts) (Unaudited) Three Months Ended December 31, 2023 2022 Net sales $ 786,730 $ 618,619 Costs and expenses: Cost of goods sold 582,381 492,663 Selling, general and administrative expenses 74,511 63,187 Research and development costs 30,794 28,634 Interest expense 11,436 11,142 Interest income ( 1,473 ) ( 366 ) Other (income) expense, net ( 20,639 ) ( 8,390 ) Total costs and expenses 677,010 586,870 Earnings before income taxes 109,720 31,749 Income tax expense 19,676 2,143 Net earnings $ 90,044 $ 29,606 Earnings per share: Basic earnings per share $ 1.50 $ 0.50 Diluted earnings per share $ 1.46 $ 0.49 Weighted Average Common Shares Outstanding: Basic 60,021 59,667 Diluted 61,846 60,928 See accompanying Notes to Condensed Consolidated Financial Statements 1 WOODWARD, INC. CONDENSED CONSOLIDATED STATE MENTS OF COMPREHENSIVE EARNINGS (In thousands) (Unaudited) Three Months Ended December 31, 2023 2022 Net earnings $ 90,044 $ 29,606 Other comprehensive earnings: Foreign currency translation adjustments 23,841 30,227 Net (loss) on foreign currency transactions designated as hedges of net investments in foreign subsidiaries ( 1,866 ) ( 3,625 ) Taxes on changes in foreign currency translation adjustments ( 287 ) 1,344 Foreign currency translation and transactions adjustments, net of tax 21,688 27,946 Unrealized (loss) on fair value adjustment of derivative instruments ( 18,510 ) ( 32,588 ) Reclassification of net realized loss on derivatives to earnings 17,899 38,186 Taxes on changes in derivative transactions — ( 113 ) Derivative adjustments, net of tax ( 611 ) 5,485 Amortization of pension and other postretirement pla

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View this 10-Q filing on SEC EDGAR