good everyone. and Don, you, afternoon, Thank
the solid Woodward performance. delivered in XXXX quarter's seen a start as first to fiscal
to strong continued Aerospace segment results. deliver Our
from performed Industrial as gas with Our associated anticipated headwinds segment and softening aftermarket. oil and
company to platforms in powerful and Before which significant exciting value like develop in a I'd to together, the combine merger we the solutions Hexcel our our Coming and will January to for announced create turning news provide innovative with revisit Corporation equals. expects Woodward shareholders. our of leading for markets, to customers
customers form innovations upon will Hexcel in Woodward smarter, technology cleaner, our the solutions safer that of to focused build and provider deliver developing and two on industry sectors. premier companies a integrated leading rich for Aerospace Industrial these system legacies
a and enhanced and Hexcel energy reduced ownership, opportunity be for safety defined such creating future exciting cost lower evolution. the Woodward efficiency the critical believe delivering We of be at flight platforms next-generation emissions, of forefront of an by will to
compelling. are The benefits financial of the merger
sheet strong Hexcel billion more about will $X.X for XX%. fiscal forma basis, Woodward than of respective margin opportunities growth. have a a significant on balance would revenue have enhanced Woodward of and EBITDA our revenue with For Hexcel XXXX pro
$X.X closing. billion of market within the share Hexcel. represent We on Woodward anticipated XX intend which cap to executing deploy after program months of approximately cash towards includes repurchases, would expected This share XX% repurchase an
this target, with increasing year. our March with dividend initial an of dividend its $X.XX We share, quarterly have cash current also on will Woodward X To payment to effective target is dividend align yield this X%. per of
my pleased I'm counterpart, Stanage, with two teams collaboration together. in Nick these Hexcel to bring
next to a for seamless to and close the steps work hard take Over our the this merger months, at necessary be integration several companies. we'll prepare of
As to in calendar the reminder, of year third the a quarter transaction XXXX. expected is close
to uncertainty in as to robust our passenger the to flight driving market. moving return the Now narrow-body our XXX be rates improved production the sustained global initial trends the Woodward Aerospace quarter. increased aerospace segment Airbus a provisioning first Despite growth strong to are continues by Commercial utilization of continues timing around aftermarket well from MAX as activities. and markets, service, strong Boeing supported had which benefit
related aircraft, In remains as and MAX. commercial to Woodward aftermarket at rotorcraft, upgrade military and due U.S. Defense to programs platforms well drove budgets aftermarket Defense, and fixed-wing including weapons. guided strong XXX the demand improve as weather to delays spending increased combat helping activity the global Strong us further is readiness. initiative Defense
execution. generation, to and markets; market our from as Turning increases power upgrade stabilize demand planning industrial Industrial transition power initiatives to the global turbine to continues gas domestic
on We share growth. revenue is turbine our content which driving continue new programs, and to expand market increasing our
and determined Woodward was addition, resource area allocation. we renewables focus our no business longer for from the In of capital perspective key a investment
Group and divestiture with relay for renewable to the We our protective million. business today's our of Aurelius are streamlining systems power $XX.X power generation announced businesses
in our transition close this third expect quarter. We to
approximately that to As fiscal on zero margins XXXX. Industrial impact approximately sales modest basis a XXXX the favorable the will earnings margins. be divestiture points reduced and result divestiture, The impact related of on $XX by a will million for XXXX will million be and $XX of XXX we have Industrial impact estimate
gas V revenue compliant as negatively China quarter trucks pre-buy previous orders rates natural from and sales of for transportation, production the were for impacted VI large truck compliant China had strong which In the trucks, recovered quarters. in China
gas, for instead Chinese gas access natural strong of of to China government in China's anticipate enforces natural as improves. incentivizes and trucks natural the and regulations as diesel We gas use continue emission demand to the
are developing by gas driven countries. and long-term promising, Oil prospects
market drilling the within the softening, a near-term North capital to pricing American economy, amid market. volatility, particularly slowing decreased global and activity, is the investments related However, reduced
summary, while the by MAX oil strong truck offset solid, In the are gas and gas. aftermarket setbacks gas partially In turbines and ongoing overall China expected Aerospace natural XXX recovering in with offsetting Industrial, in sales market stronger to Defense. remained be softness are the
focused As combination look the we operational superior while look we remainder our and and created delivering opportunities on Hexcel, to of shareholder the year, to by the of value. forward remaining expected performance the Woodward
turn it over me discuss financials. the let Now, Jack to to
