Woodward Lifts Full-year Outlook, Shares Up 8%

(RTTNews) - Woodward Inc. (WWD), a maker of energy-control components for aerospace and energy markets, Thursday lifted its outlook for the full year, driven by increase in sales orders. Shares of the company rose eight percent on the Nasdaq, following the news.

Financial Chief Robert Weber said, "Improved financial and operational performance, cost control initiatives, and increased confidence in sales volumes throughout our business are contributing to higher than previously expected earnings."

For fiscal year 2014, Woodward now expect earnings in the range of $2.35 to $2.45 per share, up from its prior outlook of $2.10 to $2.30 per share. Analysts polled by Thomson Reuters currently estimate earnings of $2.24 per share for 2014. Analysts' estimates typically exclude one-time items.

Fort Collins, Colorado-based Woodward now expects full-year net sales to be at the top end of its guidance range of $1.95 billion to $2.05 billion. Analysts currently see revenues of $1.99 billion for the year.

Woodward said it lifted its outlook based on the results for the first two months of the current quarter and updated firm orders for the rest of the year.

"Our markets continue to strengthen, and we expect increased sales growth and earnings leverage to positively impact our fiscal year 2015 performance as well," Chief Executive Thomas Gendron said.

WWD is currently trading at $48.22, up $3.55 or 7.95%, on a volume of 0.5 million shares.