Woodward, Inc. (NASDAQ:WWD) Q4 2023 Earnings Call Transcript

Louis Raffetto: Okay. And then just last one. I know you gave the growth for the end markets in Industrial, but did you have the segment growth numbers for the year? For reciprocating engines in Industrial machinery?

Bill Lacey: No, no, don’t have that. We did not give that.

Dan Provaznik: And Louis, just for the end of the year — this is Dan Provaznik, you’ll see in our K tomorrow, we are going to be making a switch and showing that information in our K based on the three markets: transportation, oil and gas and power generation.

Chip Blankenship: It really reflects how we are running the business now.

Louis Raffetto: Makes sense. Thank you very much.

Chip Blankenship: Welcome.

Chip Blankenship: You’re welcome.

Operator: Your next question comes from the line of Gavin Parsons from UBS. Please state your question.

Gavin Parsons: Hey, guys. Thanks for the follow-up. Again, just one housekeeping. What is the Industrial book-to-bill for the year?

Chip Blankenship: I don’t think we have that in front of us, Gavin.

Gavin Parsons: Okay. No worries. The K is coming out really great.

Chip Blankenship: Yes. It’s strong. We are receiving lots of — plenty of orders to cover our build rates, but I guess I can’t quote you a number in a fraction right now.

Gavin Parsons: No worries. I’ll wait. And then it looks like no buyback implied in the share count? I know we talked about capital deployment at the beginning of the call, but are you assuming you accumulate cash throughout the year?

Bill Lacey: Yes. Right. Gavin, we don’t assume that through the year, and we’ll just continue to monitor it and make decisions as we go as it relates to share buybacks.

Gavin Parsons: Okay. Thanks again.

Chip Blankenship: You’re welcome.

Operator: Mr. Blankenship, there are no further questions at this time. I will now turn the conference back to you.

Chip Blankenship: Thank you, and thanks to everyone for joining us today. As a reminder, our Investor Day is scheduled for December 7 in New York City, and I look forward to seeing you there and sharing more at that time. Have a good day.

Operator: Ladies and gentlemen, that concludes the conference call today. If you would like to listen to a rebroadcast of this conference call, it will be available today at 7:30 p.m. Eastern Time by dialing 1-800-770-2030 for a U.S. call or 1-647-362-9199 for a non-U.S. call and by entering the access code 4278216. A rebroadcast will also be available at the company’s website, www.woodward.com for 14 days. We thank you for your participation on today’s conference call and ask that you please disconnect your line.