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Woodward, Inc.

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Woodward witnessed further deterioration of the natural gas truck market in China and continued weakness in reciprocating engine power generation and other OEM large capital equipment projects. Moreover, persistent weakness in large capital projects remains one of the major dampeners for Woodward's industrial segment. This business has been witnessing continuous weakness for the past few quarters, which in turn has affected its financial results. This may have led the company’s shares to underperform the broader industry in last one year. Nevertheless, it stands to benefit from increased global usage of natural gas as a source of electricity and transportation fuel.

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