Aerospace Segment Growth
The Aerospace segment sales increased by 7% to $494 million, with commercial aftermarket up 19%, defense OEM up 21%, and defense aftermarket up 8%.
Core Industrial Growth
Core industrial sales, excluding China on-highway, were up 7%, driven by strength in marine transportation, power generation, and oil and gas markets.
Operational Improvements
Operational improvements and lean transformation efforts have led to better productivity and cost efficiency, contributing to stable operations and improved margins.
Strategic Acquisitions
Woodward signed a definitive agreement to acquire Safran Electronics & Defense electromechanical actuation business, enhancing technology offerings and increasing content on the Airbus A350.
Strong Aftermarket Performance
Commercial aftermarket activity remains healthy, driven by high utilization rates and shop visit rates of legacy aircraft and engines.