Woodward to Close California Plant, Divest Legacy Products in Portfolio Streamlining
WWD sits 39% above its 52-week low of $233.31.
Summary
Woodward will close its Santa Clarita, CA production facility by December 2027, affecting about 400 roles. The company is selling legacy commercial rotorcraft, land systems, and business jet products along with the campus, with the sale expected to close in fiscal 2027. Military flight-control production moves to Spartanburg, SC, which is under construction and set to open summer 2027. Woodward expects pre-tax charges of $34M to $47.5M, mainly for employee-related costs and contract terminations. This follows the 8-K filed earlier today and aligns with the company's stated portfolio streamlining efforts. The Spartanburg site will also produce Airbus A350 spoiler actuation systems, adding new capacity.
At the time of this announcement, WWD was trading at $325.16 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $19.2B. The 52-week trading range was $233.31 to $450.92. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.