Woodward shares plunge on reduced guidance


Woodward Inc. shares
WWD,
+0.09%

On Monday, it fell 7.43% in extended trading after the aircraft component maker lowered its forecast for the entire year. The company’s stock closed trading on Monday with an increase of 0.09% to $104.79. Woodward reported in the third quarter a net profit of $39 million, or 64 cents per share, compared to a net profit of $49 million, or 74 cents per share, in the year-ago quarter. Analysts tracked by FactSet had forecast earnings of 91 cents a share. Woodward’s sales in the third quarter totaled $614 million, compared to $557 million in the same period last year. Citing “continued global supply chain and labor disruptions and net inflationary effects,” Woodward revised its full-year forecast to between $2.35 billion and $2.4 billion, from the previous forecast of $2.4 billion and $2.55 billion. Analysts polled by FactSet are looking for full-year revenue of $2.416 billion. Woodward shares, which is seen as better of the Boeing Company
BA,
+6.13%

Renewal of 787 Dreamliner deliveries, down 4.3% this year. S&P 500 index
SPX,
-0.28%

Decreased by 13.6% in 2022.



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