50jili site Kendrick Lamar surprises with new album 'GNX' LOS ANGELES (AP) — Kendrick Lamar gave music listeners an early holiday present with a new album. The Grammy winner released his sixth studio album “GNX” on Friday. The 12-track project is the rapper’s first release since 2022’s “Mr. Morale & The Big Steppers.” Lamar’s new album comes just months after his rap battle with Drake. The rap megastar will headline February's Apple Music Super Bowl Halftime Show in New Orleans. The 37-year-old has experienced massive success since his debut album “good kid, m.A.A.d city” in 2012. Since then, he’s accumulated 17 Grammy wins and became the first non-classical, non-jazz musician to win a Pulitzer Prize. NBA memo to players urges increased vigilance regarding home security following break-ins MIAMI (AP) — The NBA is urging its players to take additional precautions to secure their homes following reports of recent high-profile burglaries of dwellings owned by Milwaukee Bucks forward Bobby Portis and Kansas City Chiefs teammates Patrick Mahomes and Travis Kelce. In a memo sent to team officials, a copy of which was obtained by The Associated Press, the NBA revealed that the FBI has connected some burglaries to “transnational South American Theft Groups” that are “reportedly well-organized, sophisticated rings that incorporate advanced techniques and technologies, including pre-surveillance, drones, and signal jamming devices.” Ancient meets modern as a new subway in Greece showcases archaeological treasures THESSALONIKI, Greece (AP) — Thessaloniki, Greece’s second-largest city, is opening a new subway system, blending ancient archaeological treasures with modern transit technology like driverless trains and platform screen doors. The project, which began in 2003, uncovered over 300,000 artifacts, including a Roman-era thoroughfare and Byzantine relics, many of which are now displayed in its 13 stations. Despite delays caused by preserving these findings, the inaugural line has been completed, with a second line set to open next year. Conor McGregor must pay $250K to woman who says he raped her, civil jury rules LONDON (AP) — A civil jury in Ireland has awarded more than $250,000 to a woman who says she was raped by mixed martial arts fighter Conor McGregor in a Dublin hotel penthouse after a night of heavy partying. The jury on Friday awarded Nikita Hand in her lawsuit that claimed McGregor “brutally raped and battered” her in 2018. The lawsuit says the assault left her heavily bruised and suffering from post-traumatic stress disorder. McGregor testified that he never forced her to do anything and that Hand fabricated her allegations after the two had consensual sex. McGregor says he will appeal the verdict. At least 19 people are sick in Minnesota from ground beef tied to E. coli recall U.S. health officials say at least 19 people in Minnesota have been sickened by E. coli poisoning tied to a national recall of more than 167,000 pounds of potentially tainted ground beef. Detroit-based Wolverine Packing Co. recalled the meat this week after Minnesota state agriculture officials reported multiple illnesses and found that a sample of the product tested positive for E. coli O157:H7, which can cause life-threatening infections. Symptoms of E. coli poisoning include fever, vomiting, diarrhea and signs of dehydration. Actor Jonathan Majors’ ex-girlfriend drops assault and defamation lawsuit against once-rising star NEW YORK (AP) — Jonathan Majors’ ex-girlfriend has dropped her assault and defamation lawsuit against the once-rising Hollywood star after reaching a settlement. Lawyers for Majors and Grace Jabbari agreed to dismiss the case with prejudice Thursday. Jabbari is a British dancer who had accused Majors of subjecting her to escalating incidents of physical and verbal abuse during their relationship. Representatives for Majors didn’t respond to emails seeking comment Friday. Jabbari’s lawyer said the suit was “favorably settled” and her client is moving on with “her head held high.” Majors was convicted of misdemeanor assault and harassment last December and sentenced to a yearlong counseling program. Hyundai, Kia recall over 208,000 electric vehicles to fix problem that can cause loss of power DETROIT (AP) — Hyundai and Kia are recalling over 208,000 electric vehicles to fix a pesky problem that can cause loss of drive power, increasing the risk of a crash. The recalls cover more than 145,000 Hyundai and Genesis vehicles including the 2022 through 2024 Ioniq 5, the 2023 through 2025 Ioniq 6, GV60 and GV70, and the 2023 and 2024 G80. Also included are nearly 63,000 Kia EV 6 vehicles from 2022 through 2024. The affiliated Korean automakers say in government documents that a transistor in a charging control unit can be damaged and stop charging the 12-volt battery. Dealers will inspect and replace the control unit and a fuse if needed. They also will update software. Christmas TV movies are in their Taylor Swift era, with two Swift-inspired films airing this year Two of the new holiday movies coming to TV this season have a Taylor Swift connection that her fans would have no problem decoding. “Christmas in the Spotlight” debuts Saturday on Lifetime. It stars Jessica Lord as the world’s biggest pop star and Laith Wallschleger, playing a pro football player, who meet and fall in love, not unlike Swift and her boyfriend, Kansas City Chiefs tight end Travis Kelce. On Nov. 30, Hallmark will air “Holiday Touchdown: A Chiefs Love Story.” Instead of a nod to Swift, it’s an ode to family traditions and bonding, like rooting for a sports team. Hallmark’s headquarters is also in Kansas City. Top football recruit Bryce Underwood changes commitment to Michigan instead of LSU, AP source says ANN ARBOR, Mich. (AP) — Top football recruit Bryce Underwood has flipped to Michigan after pledging to play at LSU. That's according to a person familiar with the situation who spoke to The Associated Press on condition of anonymity because they were not authorized to share the recruit’s plans to join the Wolverines. Underwood pinned a post on his Instagram account, showing a post in which On3.com reported that he has committed to Michigan. The 6-foot-3 quarterback played at Belleville High School about 15 miles east of Michigan's campus, and told LSU nearly a year ago he intended to enroll there. Emperor penguin released at sea 20 days after waddling onto Australian beach MELBOURNE, Australia (AP) — The only emperor penguin known to have swum from Antarctica to Australia has been released at sea 20 days after he waddled ashore on a popular tourist beach. The adult male was found on Nov. 1 on sand dunes in temperate southwest Australia about 2,200 miles north of the Antarctic coast. He was released Wednesday from a boat that traveled several hours from Western Australia state's most southerly city of Albany. His caregiver Carol Biddulph wasn't sure at first if the penguin would live. She said a mirror was important to his rehabilitation because they provide a sense of company. Biddulph said: “They’re social birds and he stands next to the mirror most of the time.”Mid-American Conference football goes all in on November weeknights for the TV viewersFORT COLLINS, Colo., Nov. 25, 2024 (GLOBE NEWSWIRE) -- Woodward, Inc. WWD today reported financial results for its fiscal year 2024 and fourth quarter ending September 30, 2024. All amounts are presented on an as reported (U.S. GAAP) basis unless otherwise indicated. All per share amounts are presented on a fully diluted basis. All comparisons are made to the same period of the prior year unless otherwise stated. All references to years are references to the Company's fiscal year unless otherwise stated. Fourth Quarter and Fiscal Year 2024 Overview Fourth Quarter 2024 Fiscal Year 2024 Net sales $855M, +10% $3.3B, +14% Earnings per share (EPS) $1.36, +2% $6.01, +59% Adjusted EPS 1 $1.41, +6% $6.11, +45% Cash from operations $142M, -7% $439M, +42% Free cash flow 1 $118M, -12% $343M, +48% "We delivered record sales in fiscal 2024 with Woodward revenue exceeding $3 billion for the first time. Robust end market demand along with contributions from operational excellence fueled significant sales growth and earnings expansion," said Chip Blankenship, Chairman and Chief Executive Officer. "In Aerospace, both commercial and defense OEM sales increased due to capacity improvements to meet customer demand, and commercial and defense aftermarket sales increased due to continued high aircraft utilization. Our Industrial business benefitted from increased sales in power generation and transportation. Our performance over the last year reflects the hard work and dedication of Woodward members to deliver on our value proposition and fulfill our purpose. We enter fiscal 2025 with strong momentum. In Aerospace, we anticipate increasing revenue and margin expansion driven by continued strength in commercial markets and increased defense activity. In Industrial, we expect broad-based market strength in power generation and marine transportation, offset by a significant decline in sales related to China on-highway natural gas trucks. We remain focused on growth, operational excellence and innovation to drive shareholder value." Fiscal 2024 Key Highlights Completed $55 million, multi-year transformation of Aerospace Maintenance, Repair and Overhaul (MRO) facility in Loves Park, Illinois, to prepare for aftermarket growth Signed three MRO agreements: To continue servicing Woodward-manufactured components for Lufthansa Technik To be exclusive Thrust Reverser Actuation System (TRAS) MRO contractor for CF34-10E powered fleet for Australia-based Alliance Airlines For Turkish Technic to join Woodward's global licensed asset management provider network, in support of the growing LEAP fleet Expanded participation in next generation aircraft development and demonstrator projects: Selected as rotary actuation technology provider for the NASA and Boeing Transonic Truss-braced Wing X-66A aircraft demonstrator Selected to provide Trim Control Module for JetZero Blended Wing Body Demonstrator Broke ground on Glatten, Germany, expansion to add capacity to support power generation and transportation growth Continued progress in automation and operational excellence through the installation of additional industrial robots and cobots Fourth Quarter and Fiscal Year 2024 Company Results Total Company Results Three Months Ended September 30, Year Ended September 30, Dollars in millions, except per share amounts 2024 2023 Year over Year 2024 2023 Year over Year Income Statement Total Sales $ 855 $ 777 10 % $ 3,324 $ 2,915 14 % Net Earnings 83 83 1 % 373 232 61 % Adjusted Net Earnings 1 86 83 5 % 379 259 47 % EPS $ 1.36 $ 1.33 2 % $ 6.01 $ 3.78 59 % Adjusted EPS 1 $ 1.41 $ 1.33 6 % $ 6.11 $ 4.21 45 % EBIT 1 113 108 4 % 495 321 54 % Adjusted EBIT 1 117 108 8 % 504 356 42 % Effective Tax Rate 18.0 % 15.7 % 230 bps 17.8 % 15.7 % 210 bps Adjusted Effective Tax Rate 1 18.4 % 15.7 % 270 bps 18.0 % 16.8 % 120 bps Cash Flow and Financial Position Cash from operating activities $ 142 $ 153 -7 % $ 439 $ 309 42 % Free cash flow 118 134 -12 % 343 232 48 % Adjusted free cash flow 1 118 135 -13 % 348 238 46 % Dividends Paid 15 13 12 % 58 51 14 % Share Repurchases 86 100 -14 391 126 209 % Total Debt 872 722 21 % Debt to EBITDA 1 Leverage 1.4x 1.5x Segment Results Aerospace Three Months Ended September 30, Year Ended September 30, Dollars in millions 2024 2023 Year over Year 2024 2023 Year over Year Commercial OEM $ 194 $ 167 16 % $ 738 $ 651 13 % Commercial Aftermarket 174 142 22 % 641 548 17 % Defense OEM 126 90 40 % 407 369 10 % Defense Aftermarket 59 56 7 % 243 201 21 % Revenue 553 455 22 % 2,029 1,768 15 % Segment Earnings 106 78 35 % 385 290 33 % Segment Margin % 19.2 % 17.2 % 200 bps 19.0 % 16.4 % 260 bps The increase in segment earnings in the fourth quarter was primarily a result of price realization and higher volume, partially offset by inflation. The increase in segment earnings for the year was a result of price realization and higher volume, partially offset by inflation. Industrial Three Months Ended September 30, Year Ended September 30, Dollars in millions 2024 2023 Year over Year 2024 2023 Year over Year Transportation $ 131 $ 162 -19 % $ 642 $ 527 22 % Power generation 109 106 4 % 424 383 11 % Oil and gas 62 55 12 % 230 236 -3 % Revenue 302 322 -6 % 1,296 1,146 13 % Segment Earnings 38 54 -30 % 230 162 42 % Segment Margin % 12.6 % 16.9 % -430 bps 17.7 % 14.1 % 360 bps The decrease in segment earnings in the fourth quarter was primarily a result of lower volume and unfavorable mix, partially offset by price realization. The increase in segment earnings for the year was a result of price realization and higher volume, partially offset by unfavorable mix. Nonsegment Three Months Ended September 30, Year Ended September 30, Dollars in millions 2024 2023 Year over Year 2024 2023 Year over Year Nonsegment Expenses $ (31 ) $ (24 ) 28 % $ (120 ) $ (131 ) -8 % Adjusted Nonsegment Expenses (27 ) (24 ) 10 % (112 ) (96 ) 16 % Fiscal Year 2025 Guidance Woodward's fiscal 2025 guidance includes a continued strong demand environment and improving operational performance throughout the year. The Aerospace segment guidance includes increasing revenue and margin expansion driven by continued strength in commercial markets and increased defense activity. The Industrial segment guidance includes broad-based market strength in power generation and marine transportation, offset by a significant decline in sales related to China on-highway natural gas trucks. Our fiscal year 2025 guidance includes $40 million in sales related to China on-highway natural gas trucks, which would be a year-over-year decline of approximately $175 million. Woodward, Inc. and Subsidiaries Total Company Sales $3.30 billion - $3.50 billion Effective Tax Rate ~20% Capital Expenditures ~$115 million EPS $5.75 - $6.25 Free Cash Flow $350 million - $400 million Diluted shares outstanding ~61.5 million Segment Data Aerospace Sales up 6% - 13% Segment Earnings (% of Sales) 20% - 21% Industrial Sales down 7% - 11% Segment Earnings (% of Sales) 13% - 14% Conference Call Woodward will hold an investor conference call at 5:00 p.m. EST, November 25, 2024, to provide an overview of the financial performance for its fiscal year 2024 and fourth quarter ending September 30, 2024, business highlights, and outlook for fiscal 2025. You are invited to listen to the live webcast of our conference call, or a recording, and view or download accompanying presentation slides at our website, www.woodward.com 2 . You may also listen to the call by dialing 1-800-715-9871 (domestic) or 1-646-307-1963 (international). Participants should call prior to the start time to allow for registration; the Conference ID is 4675940. The call and presentation will be available on the website by selecting "Investors/Events & Presentations" from the menu and will remain accessible on the company's website for one year. About Woodward, Inc. Woodward is the global leader in the design, manufacture, and service of energy conversion and control solutions for the aerospace and industrial equipment markets. Our purpose is to design and deliver energy control solutions our partners count on to power a clean future. Our innovative fluid, combustion, electrical, propulsion and motion control systems perform in some of the world's harshest environments. Woodward is a global company headquartered in Fort Collins, Colorado, USA. Visit our website at www.woodward.com . Cautionary Statement Information in this press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties, including, but not limited to, anticipated continued strong demand, continued improvements in our operational performance, the results of our ongoing focus on growth, operational excellence and innovation, including whether such focus ultimately leads to long-term term success and enhanced shareholder value, and statements regarding our business and guidance for fiscal year 2025, including our guidance for sales, segment sales as compared to the prior fiscal year, earnings per share, segment earnings margin, effective tax rate, free cash flow, capital expenditures, and diluted weighted average shares outstanding, as well as our assumptions regarding our guidance, anticipated trends in our business and markets, including increased revenue and margin expansion in our Aerospace segment, strength in commercial aerospace markets, defense activity in our Aerospace segment, broad-based market strength in power generation and marine transportation in our Industrial segment, anticipated weakness in the China on-highway natural gas truck market, including our assumptions regarding sales and demand in fiscal 2025. Factors that could cause actual results and the timing of certain events to differ materially from the forward-looking statements include, but are not limited to: (1) global economic uncertainty and instability, including in the financial markets that affect Woodward, its customers, and its supply chain; (2) risks related to constraints and disruptions in the global supply chain and labor markets; (3) Woodward's long sales cycle; (4) risks related to Woodward's concentration of revenue among a relatively small number of customers; (5) Woodward's ability to implement and realize the intended effects of any restructuring efforts; (6) Woodward's ability to successfully manage competitive factors including expenses and fluctuations in sales; (7) changes and consolidations in the aerospace market; (8) Woodward's financial obligations including debt obligations and tax expenses and exposures; (9) risks related to Woodward's U.S. government contracting activities including potential changes in government spending patterns; (10) Woodward's ability to protect its intellectual property rights and avoid infringing the intellectual property rights of others; (11) changes in the estimates of fair value of reporting units or of long-lived assets; (12) environmental risks; (13) Woodward's continued access to a stable workforce and favorable labor relations with its employees; (14) Woodward's ability to manage various regulatory and legal matters; (15) risks from operating internationally; (16) cybersecurity and other technological risks; and other risk factors and risks described in Woodward's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended September 30, 2023, any subsequently filed Quarterly Report on Form 10-Q, as well as its Annual Report on Form 10-K for the year ended September 30, 2024, which we expect to file shortly, and other risks described in Woodward's filings with the Securities and Exchange Commission. The forward-looking statements contained in this press release are made as of the date hereof and Woodward assumes no obligation to update such statements, except as required by applicable law. Woodward, Inc. and Subsidiaries CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (Unaudited - in thousands except per share amounts) Three Months Ended September 30, Year Ended September 30, 2024 2023 2024 2023 Net sales $ 854,488 $ 777,070 $ 3,324,249 $ 2,914,566 Costs and expenses: Cost of goods sold 646,733 587,510 2,447,770 2,236,983 Selling, general and administrative expenses 77,729 65,944 307,499 269,692 Research and development costs 34,689 32,061 140,676 132,095 Restructuring charges - - - 5,172 Interest expense 13,477 11,736 47,959 47,898 Interest income (1,964 ) (1,361 ) (6,458 ) (2,751 ) Other (income) expense, net (17,707 ) (16,860 ) (67,168 ) (50,291 ) Total costs and expenses 752,957 679,030 2,870,278 2,638,798 Earnings before income taxes 101,531 98,040 453,971 275,768 Income taxes 18,235 15,388 81,000 43,400 Net earnings $ 83,296 $ 82,652 $ 372,971 $ 232,368 Earnings per share amounts: Basic earnings per share $ 1.40 $ 1.38 $ 6.21 $ 3.88 Diluted earnings per share $ 1.36 $ 1.33 $ 6.01 $ 3.78 Weighted average common shares outstanding: Basic 59,437 60,103 60,076 59,908 Diluted 61,385 62,039 62,084 61,482 Cash dividends paid per share $ 0.2500 $ 0.2200 $ 0.9700 $ 0.8500 Woodward, Inc. and Subsidiaries CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited - in thousands) September 30, September 30, 2024 2023 Assets Current assets: Cash and cash equivalents $ 282,270 $ 137,447 Accounts receivable 770,066 749,859 Inventories 609,092 517,843 Income taxes receivable 22,016 14,120 Other current assets 60,167 50,183 Total current assets 1,743,611 1,469,452 Property, plant, and equipment, net 940,715 913,094 Goodwill 806,643 791,468 Intangible assets, net 440,419 452,363 Deferred income tax assets 84,392 58,550 Other assets 353,135 325,276 Total assets $ 4,368,915 $ 4,010,203 Liabilities and stockholders' equity Current liabilities: Short term borrowings 217,000 - Current portion of long term debt 85,719 75,817 Accounts payable 287,457 234,328 Income taxes payable 40,692 44,435 Accrued liabilities 292,642 262,616 Total current liabilities 923,510 617,196 Long-term debt, less current portion 569,751 645,709 Deferred income tax liabilities 121,858 132,819 Other liabilities 577,380 543,490 Total liabilities 2,192,499 1,939,214 Stockholders' equity 2,176,416 2,070,989 Total liabilities and stockholders' equity $ 4,368,915 $ 4,010,203 Woodward, Inc. and Subsidiaries CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited - in thousands) For the Year Ended September 30, 2024 2023 Net cash provided by operating activities $ 439,089 $ 308,543 Cash flows from investing activities: Payments for purchase of property, plant, and equipment (96,280 ) (76,500 ) Proceeds from sale of assets 2,292 488 Proceeds from business divestiture 1,800 - Payments for business acquisition, net of cash acquired - 878 Proceeds from sales of short-term investments 9,738 7,692 Payments for purchases of short-term investments (6,767 ) (6,109 ) Net cash used in investing activities (89,217 ) (73,551 ) Cash flows from financing activities: Cash dividends paid (58,286 ) (51,027 ) Proceeds from sales of treasury stock 89,875 50,749 Payments for repurchases of common stock (390,819 ) (126,380 ) Borrowings on revolving lines of credit and short-term borrowings 2,962,800 2,323,500 Payments on revolving lines of credit and short-term borrowings (2,745,800 ) (2,390,300 ) Payments of debt financing costs - (2,236 ) Payments of long-term debt and finance lease obligations (75,817 ) (779 ) Net cash used in financing activities (218,047 ) (196,473 ) Effect of exchange rate changes on cash and cash equivalents 12,998 (8,916 ) Net change in cash and cash equivalents 144,823 29,603 Cash and cash equivalents at beginning of year 137,447 107,844 Cash and cash equivalents at end of year $ 282,270 $ 137,447 Woodward, Inc. and Subsidiaries SEGMENT NET SALES AND EARNINGS (Unaudited - in thousands) Three Months Ended September 30, Year Ended September 30, 2024 2023 2024 2023 Net sales: Aerospace $ 552,790 $ 454,870 $ 2,028,618 $ 1,768,103 Industrial 301,698 322,200 1,295,631 1,146,463 Total consolidated net sales $ 854,488 $ 777,070 $ 3,324,249 $ 2,914,566 Segment earnings*: Aerospace $ 106,065 $ 78,281 $ 385,360 $ 290,104 As a percent of segment net sales 19.2 % 17.2 % 19.0 % 16.4 % Industrial 38,015 54,451 229,857 161,622 As a percent of segment net sales 12.6 % 16.9 % 17.7 % 14.1 % Total segment earnings 144,080 132,732 615,217 451,726 Nonsegment expenses (31,036 ) (24,317 ) (119,745 ) (130,811 ) EBIT 113,044 108,415 495,472 320,915 Interest expense, net (11,513 ) (10,375 ) (41,501 ) (45,147 ) Consolidated earnings before income taxes $ 101,531 $ 98,040 $ 453,971 $ 275,768 *This schedule reconciles segment earnings, which exclude certain costs, to consolidated earnings before taxes. Payments for property, plant and equipment $ 24,087 $ 19,358 $ 96,280 $ 76,500 Depreciation expense $ 21,084 $ 20,942 $ 82,578 $ 82,154 Woodward, Inc. and Subsidiaries RECONCILIATION OF EARNINGS TO ADJUSTED NET EARNINGS 1 (Unaudited - in thousands, except per share amounts) Three Months Ended September 30, 2024 Three Months Ended September 30, 2023 Before Income Tax Net of Income Tax Per Share, Net of Income Tax Before Income Tax Net of Income Tax Per Share, Net of Income Tax Net Earnings (U.S. GAAP) $ 101,531 $ 83,296 $ 1.36 $ 98,040 $ 82,652 $ 1.33 Non-U.S. GAAP adjustments: Non-recurring gain related to a previous acquisition - - - - - - Business development activities - - - - - - Non-recurring charge related to a previous acquisition 4,378 3,129 0.05 - - - Certain non-restructuring separation costs - - - - - - Specific charge for excess and obsolete inventory - - - - - - Product rationalization - - - - - - Non-recurring charge related to customer collections - - - - - - Restructuring charges - - - - - - Total non-U.S. GAAP adjustments 4,378 3,129 0.05 - - - Adjusted net earnings (Non-U.S. GAAP) $ 105,909 $ 86,425 $ 1.41 $ 98,040 $ 82,652 $ 1.33 Woodward, Inc. and Subsidiaries RECONCILIATION OF EARNINGS TO ADJUSTED NET EARNINGS 1 (Unaudited - in thousands, except per share amounts) Year Ended September 30, 2024 Year Ended September 30, 2023 Before Income Tax Net of Income Tax Per Share, Net of Income Tax Before Income Tax Net of Income Tax Per Share, Net of Income Tax Net Earnings (U.S. GAAP) $ 453,971 $ 372,971 $ 6.01 $ 275,768 $ 232,368 $ 3.78 Non-U.S. GAAP adjustments: Non-recurring gain related to a previous acquisition (4,803 ) (3,433 ) (0.06 ) - - - Business development activities 5,902 4,456 0.07 - - - Non-recurring charge related to a previous acquisition 4,378 3,129 0.05 - - - Certain non-restructuring separation costs 2,666 2,013 0.04 2,208 1,661 0.03 Specific charge for excess and obsolete inventory - - - 11,995 9,016 0.15 Product rationalization - - - 10,504 7,896 0.13 Non-recurring charge related to customer collections - - - 4,997 3,761 0.06 Restructuring charges - - - 5,172 3,874 0.06 Total non-U.S. GAAP adjustments 8,143 6,165 0.10 34,876 26,208 0.43 Adjusted net earnings (Non-U.S. GAAP) $ 462,114 $ 379,136 $ 6.11 $ 310,644 $ 258,576 $ 4.21 Woodward, Inc. and Subsidiaries RECONCILIATION OF NET EARNINGS TO EBIT 1 AND ADJUSTED EBIT 1 (Unaudited - in thousands) Three Months Ended September 30, Year Ended September 30, 2024 2023 2024 2023 Net earnings (U.S. GAAP) $ 83,296 $ 82,652 $ 372,971 $ 232,368 Income taxes 18,235 15,388 81,000 43,400 Interest expense 13,477 11,736 47,959 47,898 Interest income (1,964 ) (1,361 ) (6,458 ) (2,751 ) EBIT (Non-U.S. GAAP) 113,044 108,415 495,472 320,915 Non-U.S. GAAP adjustments* 4,378 - 8,143 34,876 Adjusted EBIT (Non-U.S. GAAP) $ 117,422 $ 108,415 $ 503,615 $ 355,791 *See Reconciliation of Net Earnings to Adjusted Net Earnings 1 tables above for the list of Non-U.S. GAAP adjustments made in the applicable periods. Woodward, Inc. and Subsidiaries RECONCILIATION OF NET EARNINGS TO EBITDA 1 AND ADJUSTED EBITDA 1 (Unaudited - in thousands) Three Months Ended September 30, Year Ended September 30, 2024 2023 2024 2023 Net earnings (U.S. GAAP) $ 83,296 $ 82,652 $ 372,971 $ 232,368 Income taxes 18,235 15,388 81,000 43,400 Interest expense 13,477 11,736 47,959 47,898 Interest income (1,964 ) (1,361 ) (6,458 ) (2,751 ) Amortization of intangible assets 8,244 9,500 33,592 37,589 Depreciation expense 21,084 20,942 82,578 82,154 EBITDA (Non-U.S. GAAP) 142,372 138,857 611,642 440,658 Non-U.S. GAAP adjustments* 4,378 - 8,143 34,876 Adjusted EBITDA (Non-U.S. GAAP) $ 146,750 $ 138,857 $ 619,785 $ 475,534 *See Reconciliation of Net Earnings to Adjusted Net Earnings 1 tables above for the list of Non-U.S. GAAP adjustments made in the applicable periods. Woodward, Inc. and Subsidiaries RECONCILIATION OF NONSEGMENT EXPENSES TO ADJUSTED NONSEGMENT EXPENSES 1 (Unaudited - in thousands) Three Months Ended September 30, Year Ended September 30, 2024 2023 2024 2023 Nonsegment expenses (U.S. GAAP) $ 31,036 $ 24,317 $ 119,745 $ 130,811 Non-recurring gain related to a previous acquisition - - 4,803 - Business development activities - - (5,902 ) - Non-recurring charge related to a previous acquisition (4,378 ) - (4,378 ) - Certain non-restructuring separation costs - - (2,666 ) (2,208 ) Specific charge for excess and obsolete inventory - - - (11,995 ) Product rationalization - - - (10,504 ) Restructuring charges - - - (5,172 ) Non-recurring charge related to customer collections - - - (4,997 ) Adjusted nonsegment expenses (Non-U.S. GAAP) $ 26,658 $ 24,317 $ 111,602 $ 95,935 Woodward, Inc. and Subsidiaries RECONCILATION OF CASH FLOW FROM OPERATING ACTIVITIES TO FREE CASH FLOW 1 AND ADJUSTED FREE CASH FLOW 1 (Unaudited - in thousands) Three Months Ended September 30, Year Ended September 30, 2024 2023 2024 2023 Net cash provided by operating activities (U.S. GAAP) $ 141,760 $ 152,913 $ 439,089 $ 308,543 Payments for property, plant and equipment (24,087 ) (19,358 ) (96,280 ) (76,500 ) Free cash flow (Non-U.S. GAAP) 117,673 133,555 342,809 232,043 Cash received for a non-recurring matter related to a previous acquisition - - (4,803 ) - Cash paid for business development activities - - 5,902 - Cash paid for non-recurring matter unrelated to the ongoing operations of the businesses - - 2,725 - Cash paid for certain non-restructuring separation costs - - 985 977 Cash paid for restructuring charges - 1,613 - 5,207 Adjusted free cash flow (Non-U.S. GAAP) 117,673 135,168 347,618 238,227 1 Adjusted and Non-U.S. GAAP Financial Measures : Adjusted net earnings, adjusted earnings per share, adjusted EBIT, adjusted EBITDA, adjusted effective tax rate, and adjusted nonsegment expenses exclude, as applicable, (i) a non-recurring gain related to a previous acquisition, (ii) costs related to business development activities, (iii) non-recurring charge related to a previous acquisition, (iv) certain non-restructuring separation costs, (v) a specific charge for excess and obsolete inventory, (vi) product rationalization, (vii) a non-recurring charge related to customer collections, and (viii) restructuring charges. The product rationalization adjustment pertains to a non-recurring write-off of inventory and assets related to the elimination of certain product lines. The specific charge for excess and obsolete inventory pertains to a non-recurring process change that resulted in the identification and write down of certain excess inventory unrelated to product rationalization. The non-recurring charge related to customer collections pertains to a discrete process issue that was identified and corrected. The Company believes that these excluded items are short‐term in nature, not directly related to the ongoing operations of the business, and therefore, the exclusion of them illustrates more clearly how the underlying business of Woodward is performing. Adjusted free cash flow is free cash flow (defined below) minus cash received for a non-recurring matter related to a previous acquisition, plus cash paid for (i) business development activities, (ii) a non-recurring matter unrelated to the ongoing operations of the business, (iii) certain non-restructuring separation costs and (iv) restructuring charges. Management believes these adjustments to free cash flow better portray Woodward's operating performance. EBIT (earnings before interest and taxes), EBITDA (earnings before interest, taxes, depreciation and amortization), free cash flow, adjusted free cash flow, adjusted net earnings, adjusted earnings per share, adjusted EBIT, adjusted EBITDA, adjusted effective tax rate, and adjusted nonsegment expenses are financial measures not prepared and presented in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP). Management uses EBIT and adjusted EBIT to evaluate Woodward's operating performance without the impacts of financing and tax related considerations. Management uses EBITDA and adjusted EBITDA in evaluating Woodward's operating performance, making business decisions, including developing budgets, managing expenditures, forecasting future periods, and evaluating capital structure impacts of various strategic scenarios. Management also uses free cash flow, which is derived from net cash provided by or used in operating activities less payments for property, plant, and equipment, as well as adjusted free cash flow (as described above), in reviewing the financial performance of Woodward's various business segments and evaluating cash generation levels. Securities analysts, investors, and others frequently use EBIT, EBITDA and free cash flow in their evaluation of companies, particularly those with significant property, plant, and equipment, and intangible assets that are subject to amortization. The use of any of these non-U.S. GAAP financial measures is not intended to be considered in isolation of, or as a substitute for, the financial information prepared and presented in accordance with U.S. GAAP. Because adjusted net earnings, adjusted earnings per share, EBIT, EBITDA, adjusted EBIT, and adjusted EBITDA exclude certain financial information compared with net earnings, the most comparable U.S. GAAP financial measure, users of this financial information should consider the information that is excluded. Free cash flow and adjusted free cash flow do not necessarily represent funds available for discretionary use and is not necessarily a measure of our ability to fund our cash needs. Woodward's calculations of EBIT, EBITDA, adjusted net earnings, adjusted earnings per share, adjusted EBIT, adjusted EBITDA, adjusted effective tax rate, adjusted nonsegment expenses, free cash flow, and adjusted free cash flow may differ from similarly titled measures used by other companies, limiting their usefulness as comparative measures. 2 Website, Facebook, X : Woodward has used, and intends to continue to use, its Investor Relations website, LinkedIn page, Facebook page, and X handle as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Contact: Dan Provaznik Director, Investor Relations 970-498-3849 Dan.Provaznik@woodward.com © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

European stocks bounced around Monday while US equities shook off early weakness to push higher as investors waited to see if a so-called Santa Claus rally sweeps over the market. Global stock markets had a tumultuous time last week, spiraling lower after the US Federal Reserve signaled fewer interest rate cuts than had been expected for 2025. But it ended on a positive note as traders welcomed below-forecast US inflation data that raised hopes about the health of the world's biggest economy. That helped Asian markets move higher on Monday, but the positive trend faltered in Europe and stumbled initially in the United States. "Another up leg in US yields not only put pressure on stock indices but also drove the greenback higher," said IG analyst Axel Rudolph. But after a sluggish start, US stocks rose progressively in a quiet session with analysts pointing to low pre-holiday trading volumes. "Stocks didn't really have any direction in the morning, then we got this tech rally that just sort of drifted higher all day," said Steve Sosnick of Interactive Brokers. Analysts view elevated Treasury bond yields as a threat to year-end gains in an historically strong period of the calendar. Known as a Santa Claus rally, there are various explanations for the phenomenon including seasonal optimism and end-of-year tax considerations. But there remains some trepidation among investors as Donald Trump prepares to return to the White House, pledging to cut taxes, slash regulations and impose tariffs on imports, which some economists warn could reignite inflation. "The initial response to the US election was positive as investors focused on the obvious tailwinds to profitability: lower corporate tax rates and less regulation," said Ronald Temple, chief market strategist at Lazard. "However, I expect much more dispersion within the equity market when the reality of a much-less-friendly trade environment sets in." In Europe, the FTSE 100 moved higher as the pound slid following data that showed that the UK economy stagnated in the third quarter, revised down from initial estimates of 0.1 percent growth. Official data out of Spain on Monday showed that the Spanish economy grew 0.8 percent in the third quarter as domestic consumption and exports increased, comfortably outstripping the European Union average. In company news, shares in crisis-hit German auto giant Volkswagen lost more than three percent on the back of news Friday that it plans to axe 35,000 jobs by 2030 in a drastic cost-cutting plan. Shares in Japanese auto giant Honda rose over three percent after it announced Monday an agreement to launch merger talks with struggling compatriot Nissan that could create the world's third largest automaker. New York - Dow: UP 0.2 percent at 42,906.95 (close) New York - S&P 500: UP 0.7 percent at 5,974.89 (close) New York - Nasdaq Composite: UP 1.0 percent at 19,764.89 (close) London - FTSE 100: UP 0.2 percent at 8,102.72 (close) Paris - CAC 40: FLAT at 7,272.32 (close) Frankfurt - DAX: DOWN 0.2 percent at 19,848.77 (close) Tokyo - Nikkei 225: UP 1.2 percent at 39,161.34 (close) Hong Kong - Hang Seng Index: UP 0.8 percent at 19,883.13 (close) Shanghai - Composite: DOWN 0.5 percent at 3,351.26 (close) Euro/dollar: DOWN at $1.0408 from $1.0430 on Friday Pound/dollar: DOWN at $1.2531 from $1.2570 Dollar/yen: UP at 157.14 yen from 156.31 yen Euro/pound: UP at 83.03 pence from 82.97 pence West Texas Intermediate: DOWN 0.3 percent at $69.24 per barrel Brent North Sea Crude: DOWN 0.4 percent at $72.63 per barrel burs-jmb/jgc

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NoneStocks closed higher on Wall Street at the start of a holiday-shortened week. The S&P 500 rose 0.7% Monday. Several big technology companies helped support the gains, including chip companies Nvidia and Broadcom. The Dow Jones Industrial Average added 0.2%, and the Nasdaq composite rose 1%. Honda’s U.S.-listed shares rose sharply after the company said it was in talks about a combination with Nissan in a deal that could also include Mitsubishi Motors. Eli Lilly rose after announcing that regulators approved Zepbound as the first prescription medicine for adults with sleep apnea. Treasury yields rose in the bond market. On Monday: The S&P 500 rose 43.22 points, or 0.7%, to 5,974.07. The Dow Jones Industrial Average rose 66.69 points, or 0.2%, to 42,906.95. The Nasdaq composite rose 192.29 points, or 1%, to 19,764.89. The Russell 2000 index of smaller companies fell 4.93 points, or 0.2%, to 2,237.44. For the year: The S&P 500 is up 1,204.24 points, or 25.2%. The Dow is up 5,217.41 points, or 13.8%. The Nasdaq is up 4,753.53 points, or 31.7%. The Russell 2000 is up 210.36 points, or 10.4%.

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