Woodward (WWD) Fireside Chat summary

Introduction and agenda

• Host introduced the executive team, outlined required disclosures, and set the agenda to discuss recent performance, aerospace and industrial trends, and clarify market confusion.

Background and experience of the speaker

• CEO and CFO both joined recently, each with extensive aerospace and GE experience, bringing fresh perspectives to the management team.

Current industry trends

• Aerospace demand remains strong, but supply chain misalignments and inventory build-ups are causing temporary disruptions.

• Aftermarket for legacy fleets is plateauing at a high level, with new generation engine content expected to drive growth from 2027 onward.

• Defense sector is expected to grow, with guided weapons and major platforms contributing to near-term and multi-year growth.

• Industrial segment sees power generation as the largest growth opportunity, with marine and oil & gas stable or growing, and China On-Highway business volatile but trending positively.