Moog Inc. Earnings Call Transcripts
Fiscal Year 2026
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Delivered double-digit revenue and EPS growth, with record backlog and strong performance across all segments. Raised FY 2026 guidance for sales and EPS, despite increased tariff pressures and Middle East impacts, and continued robust demand in defense, aerospace, and industrial markets.
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Leadership has driven a transformation focused on 80/20 analysis, customer and product rationalization, and operational excellence, resulting in improved margins, major contract wins, and readiness for growth in missile programs. Tariff impacts have been mitigated, and a more strategic M&A approach is underway.
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Q1 delivered over 20% revenue growth and record sales across all segments, with strong margin and EPS gains. FY26 guidance was raised for sales and EPS, driven by robust defense, commercial aerospace, and industrial demand, while tariff and order timing effects were noted.
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Aerospace and defense-focused firm is experiencing robust growth in defense and commercial aerospace, driven by strong demand for missile systems, military aircraft, and widebody programs. Operational and financial transformation has exceeded targets, with continued investment in capacity and efficiency.
Fiscal Year 2025
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Record sales and margin expansion were achieved in FY 2025, with strong growth in aerospace and defense. FY 2026 guidance projects continued sales and EPS growth, with ongoing focus on cash flow and margin improvement despite tariff pressures.
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Aerospace and defense-focused technology provider is seeing strong growth in defense and commercial aerospace, with robust aftermarket sales and a stable industrial/medical segment. Margin expansion is driven by pricing and simplification, while recent acquisitions enhance technology offerings.
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Record sales and adjusted EPS were achieved, with strong margins and robust free cash flow. FY25 guidance was raised across all segments, despite tariff headwinds and higher working capital needs, while productivity and portfolio simplification drove efficiency gains.
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Record Q2 sales and improved margins were achieved, with strong defense and aftermarket performance offsetting commercial OEM softness. Tariffs pose a $10–$20 million risk to FY25 profit, but mitigation actions are underway. Guidance for sales, margin, and EPS is reiterated.
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Strong Q1 sales and margin growth were offset by negative free cash flow due to inventory build and incentive payments, but cash flow is expected to improve in the second half. Growth is driven by defense, space, and medical segments, with ongoing margin expansion and operational improvements. Long-term strategies focus on automation, structural changes, and expanding major programs like FLRAA.
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Q1 FY25 saw strong sales growth, record defense and commercial bookings, and margin expansion, with robust performance in military, commercial, and space segments. Guidance for FY25 is reaffirmed, with improved free cash flow expected in H2 and continued operational enhancements.
Fiscal Year 2024
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Record FY 2024 sales and margin expansion were driven by strong aerospace and defense demand, pricing, and simplification initiatives. FY 2025 guidance calls for continued sales and margin growth, with elevated CapEx to support future opportunities and some headwinds from industrial softness and facility recovery.
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Margin expansion is driven by pricing power and simplification, with ongoing portfolio optimization and 80/20 deployment. Defense and commercial aerospace segments show strong demand, while supply chain and inventory management improvements support cash flow goals.
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Strong Q3 results featured 6% sales growth, 12.3% adjusted margin, and 39% higher EPS year-over-year. FY24 guidance was raised for sales and EPS, with robust defense and commercial performance and continued margin expansion.