$WWD

Woodward, Inc.

CIK:0000108312|SEC Filings

Condensed Consolidated Statements of Earnings - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net sales	$ 1,109,705	$ 915,446	$ 3,196,727	$ 2,571,800
Costs and expenses:
Cost of goods sold	759,799	666,287	2,238,752	1,892,908
Selling, general and administrative expenses	106,465	88,703	303,735	242,241
Research and development costs	49,316	41,088	133,191	108,525
Restructuring charges	9,264		16,079
Interest expense	14,827	11,234	37,206	35,464
Interest income	(611)	(838)	(2,027)	(3,236)
Other income, net	(22,867)	(17,864)	(60,299)	(65,755)
Total costs and expenses	916,193	788,610	2,666,637	2,210,147
Earnings before income taxes	193,512	126,836	530,090	361,653
Income tax expense	46,837	18,388	115,683	57,165
Net earnings	$ 146,675	$ 108,448	$ 414,407	$ 304,488
Earnings per share:
Basic earnings per share	$ 2.47	$ 1.82	$ 6.95	$ 5.12
Diluted earnings per share	$ 2.4	$ 1.76	$ 6.76	$ 4.96
Weighted Average Common Shares Outstanding:
Basic	59,445	59,680	59,632	59,442
Diluted	61,018	61,488	61,317	61,374

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net earnings	$ 414,407	$ 304,488
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	91,013	84,096
Net loss (gain) on sale/disposal of assets and businesses	7,321	(19,470)
Stock-based compensation	28,653	25,490
Deferred income taxes	75,582	(1,504)
Changes in operating assets and liabilities:
Trade accounts receivable	(133,748)	(15,296)
Unbilled receivables (contract assets)	(70,120)	(39,361)
Costs to fulfill a contract	4,136	(11,384)
Inventories	(69,515)	(63,130)
Accounts payable and accrued liabilities	49,495	12,379
Contract liabilities	(11,193)	(1,416)
Income taxes	(35,468)	(25,994)
Retirement benefit obligations	(2,764)	(2,654)
Other	4,138	(8,268)
Net cash provided by operating activities	351,937	237,976
Cash flows from investing activities:
Payments for purchase of property, plant, and equipment	(156,337)	(78,537)
Proceeds from sales of assets		41
Proceeds from sales of investments	81
Proceeds from business divestitures	1,239	48,043
Payments for acquisitions, net of cash acquired	(131,778)	2,935
Net cash (used in) investing activities	(286,795)	(27,518)
Cash flows from financing activities:
Cash dividends paid	(54,902)	(48,195)
Proceeds from sales of treasury stock	55,070	96,064
Payments for repurchases of common stock	(553,438)	(124,276)
Borrowings on long-term debt	250,000
Borrowings on revolving lines of credit and short-term borrowings	3,002,740	1,957,900
Payments on revolving lines of credit and short-term borrowings	(2,532,353)	(1,821,900)
Payments of debt financing costs	(2,583)
Payments of long-term debt and finance lease obligations	(75,765)	(85,719)
Net cash provided by (used in) financing activities	88,769	(26,126)
Effect of exchange rate changes on cash and cash equivalents	(6,491)	6,557
Net change in cash and cash equivalents	147,420	190,889
Cash and cash equivalents at beginning of year	327,431	282,270
Cash and cash equivalents at end of period	$ 474,851	$ 473,159

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Sep. 30, 2025
Current assets:
Cash and cash equivalents	$ 474,851	$ 327,431
Accounts receivable, less allowance for uncollectible amounts of $15,012 and $9,725, respectively	1,012,481	831,116
Inventories	724,803	654,608
Income taxes receivable	43,880	1,553
Assets held for sale	19,953
Other current assets	62,590	69,706
Total current assets	2,338,558	1,884,414
Property, plant and equipment, net	1,087,764	986,623
Goodwill	893,956	832,288
Intangible assets, net	447,263	428,080
Deferred income tax assets	39,504	118,711
Other assets	389,356	380,027
Total assets	5,196,401	4,630,143
Current liabilities:
Short-term debt	592,426	122,300
Current portion of long-term debt	131,779	122,934
Accounts payable	328,957	289,417
Income taxes payable	65,196	59,655
Accrued liabilities	299,255	313,083
Liabilities held for sale	3,589
Total current liabilities	1,421,202	907,389
Long-term debt, less current portion	617,730	456,968
Deferred income tax liabilities	109,023	107,669
Other liabilities	574,652	591,727
Total liabilities	2,722,607	2,063,753
Commitments and contingencies (Note 22)
Stockholders' equity:
Preferred stock, par value $0.003 per share, 10,000 shares authorized, no shares issued	0	0
Common stock, par value $0.001455 per share, 150,000 shares authorized, 72,960 shares issued	106	106
Additional paid-in capital	559,850	482,259
Accumulated other comprehensive losses	(22,924)	(10,415)
Deferred compensation	1,878	1,741
Retained earnings	3,959,900	3,600,395
Stockholders' equity	4,498,810	4,074,086
Treasury stock at cost, 13,731 shares and 13,060 shares, respectively	(2,023,138)	(1,505,955)
Treasury stock held for deferred compensation, at cost, 26 shares and 28 shares, respectively	(1,878)	(1,741)
Total stockholders' equity	2,473,794	2,566,390
Total liabilities and stockholders' equity	$ 5,196,401	$ 4,630,143