WWD - Why Shares in Woodward Powered Higher This Week
2024-05-03 10:06:57 ET
Shares in industrial and aerospace control products company Woodward (NASDAQ: WWD) rose 11.6% in the week to Friday morning. The move came after impressive fiscal second-quarter earnings were released at the start of the week.
The company's key customers are RTX , GE Aerospace, Boeing in the aerospace industry, Rolls Royce , Caterpillar , and Weichai Westport (fuel engines) in the industrial sector. Given this cast of aerospace customers and their strong exposure to a recovering aerospace market, it's not surprising that Woodward is seeing good momentum in its sales in 2024.
However, the big surprise came from the industrial segment, where management cited an increase "in the on-highway natural gas truck business in China, as well as strong sales in power generation and price realization."
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Why Shares in Woodward Powered Higher This Week