Woodward Lowers Earnings Forecast; Shares Tumble In Pre-Market Trading

Shares of Woodward WWD dipped about 16% in pre-market trading after the company lowered its full-year earnings outlook. Woodward projects to report Q3 earnings of around $0.40 per share, on revenue of around $460 million. However, analysts estimated earnings of $0.60 per share on revenue of $490.8 million. Woodward cut its full-year earnings view to $1.90 to $2.00 per share, versus its earlier forecast of $2.20 to $2.35 per share. It cut its full-year revenue forecast to $1.85 billion to $1.90 billion, versus its earlier forecast of $1.85 billion to $1.95 billion. Analysts were projecting earnings of $2.25 per share on revenue of $1.91 billion. Woodward shares tumbled 15.95% to $30.30 in pre-market trading.