Question · Q4 2025
Sheila Cuygle (represented by Kyle) asked for clarification on the 'muted' commercial aftermarket growth forecast for next year, specifically how LEAP and GTF growth compares to legacy engines by late calendar 2026, and the magnitude of any pull-forward or advanced buying observed in 2025. She also requested additional color on the 5% price realization forecast for next year, including its weighting by segment and subsegment.
Answer
Chairman and CEO Chip Blankenship explained that strong repair growth is expected for LEAP and GTF, with flat to slight growth for V2500 and CFM56. The 'muted' top-line growth is primarily due to lumpy spare end item orders in 2025, which are not currently forecasted to recur. CFO Bill Lacey confirmed the 5% price realization at the total Woodward level, noting that aerospace will slightly outpace industrial due to the JDAM price increase and catalog growth, while industrial will also see good price results.
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