Woodward(US:WWD)2024-04-29 20:50Financial Performance - Sales increased by 16% year-over-year, reaching $835 million in Q2 Fiscal Year 2024, compared to $718 million in FY23[4, 6] - Adjusted net earnings rose by 63% to $101 million in Q2 FY24, up from $62 million in FY23[6] - Adjusted earnings per share (EPS) increased by 60% to $1.62 in Q2 FY24, compared to $1.01 in FY23[6] - Adjusted free cash flow YTD reached $90 million, a significant improvement from $(1) million in the previous year[4, 6] - Gross margin improved from 22.1% to 28.1%, a 600 bps increase, comparing Q2 FY23 to Q2 FY24[17] Segment Results - Aerospace - Aerospace segment sales increased by 14% to $498 million in Q2 FY24, up from $437 million in FY23[7, 13] - Aerospace segment earnings increased by 34% to $98 million[13] - Aerospace segment margin improved by 300 bps to 19.8%[13] - Commercial OEM sales grew by 15%, while Commercial Aftermarket sales grew by 18%[7] - Defense OEM sales increased by 4%, and Defense Aftermarket sales grew by 17%[9] Segment Results - Industrial - Industrial segment sales increased by 20% to $338 million in Q2 FY24, up from $281 million in FY23[15, 16] - Industrial segment earnings increased by 74% to $65 million[16] - Industrial segment margin improved by 590 bps to 19.3%[16] - Transportation sales grew by 46%, driven by strong demand in Asia[14] - Power Generation sales grew by 14%[14]