Woodward’s stock jumps as profit rises with aerospace (NASDAQ:WWD)

Woodward’s (NASDAQ:WWD) stock jumped 6.2% in extended trading Monday after the maker of energy conversion and control solutions reported better-than-estimated quarterly results.

Net earnings tripled to $90 million, or $1.46 a share, from $29.61 million, $0.49 a share, a year earlier.

Adjusted earnings of $1.45 a share beat the average estimate of $1.15 a share among Wall Street analysts.

The company’s sales rose 27% from a year earlier to $787 million, compared with the consensus estimate of about $755 million.

“In Aerospace, both OEM and aftermarket sales were strong this quarter,” Chip Blankenship, chairman and chief executive of Woodward (WWD), said in a statement. “We saw broad-based strength across Industrial, with significant expansion in transportation, mainly from our China on-highway business.”

Management raised its guidance for full-year sales to a range of $3.15 billion to $3.3 billion, up from its previous estimate of $3.1 billion to $3.25 billion on November 16.

The company also raised the forecast of adjusted earnings to $5 a share to $5.40 a share, compared with $4.75 a share to $5.20 a share previously.