Financial Performance - Net sales for the three months ended June 28, 2025, were $971,363,000, representing an increase of 7.4% compared to $904,735,000 for the same period in 2024[11]. - Net earnings for the three months ended June 28, 2025, were $59,707,000, a 6.5% increase from $56,360,000 in the prior year[11]. - Total net sales for the nine months ended June 28, 2025, reached $2,816.52 million, compared to $2,691.89 million for the same period in 2024, indicating a growth of approximately 4.6%[102]. - Total operating profit for the three months ended June 28, 2025, was $111,867,000, compared to $105,380,000 for the same period in 2024, reflecting an increase of about 6.4%[11]. - Earnings before income taxes for the nine months ended June 28, 2025, were $220,140,000, up from $212,265,000 in the same period of 2024, indicating a growth of approximately 3.7%[11]. Assets and Liabilities - Total assets as of June 28, 2025, were $4,396,574,000, an increase from $4,093,626,000 as of September 28, 2024[18]. - The company’s total liabilities increased to $2,452,873,000 as of June 28, 2025, from $2,232,993,000 as of September 28, 2024, indicating a rise of about 9.8%[17]. - Long-term debt, excluding current installments, rose to $1,081,674,000 as of June 28, 2025, compared to $874,139,000 in the previous year[18]. - The fair value of long-term debt was $1,068,433 as of June 28, 2025, compared to its carrying value of $1,082,500[91]. Shareholder Equity and Dividends - Total shareholders' equity reached $1,943,701,000 as of June 28, 2025, compared to $1,860,633,000 as of September 28, 2024, reflecting a growth in equity[18]. - Cash dividends declared were $0.29 per share for the three months ended June 28, 2025, compared to $0.28 per share for the same period in 2024[21]. - The company declared a quarterly dividend of $0.29 per share on July 24, 2025, payable on August 26, 2025[110]. Research and Development - Research and development expenses decreased to $21,906,000 for the three months ended June 28, 2025, down 21.2% from $27,791,000 in the same period of 2024[11]. Cash Flow and Investments - Operating cash flow for the nine months ended June 28, 2025, was $32,463,000, down from $46,555,000 in 2024, indicating a decrease of 30.2%[27]. - The company reported a net cash used in investing activities of $92,398,000 for the nine months ended June 28, 2025, compared to $114,546,000 in 2024, showing a decrease of 19.4%[27]. - The company purchased outstanding shares for treasury amounting to $127,808,000 in 2025, compared to $21,832,000 in 2024, indicating a significant increase[27]. Segment Performance - Space and Defense segment net sales for the three months ended June 28, 2025, were $287.71 million, up from $258.41 million in the same period of 2024, reflecting a growth of about 11.3%[102]. - Military Aircraft segment net sales increased to $224.66 million for the three months ended June 28, 2025, compared to $207.18 million in the same period of 2024, marking an increase of approximately 8.5%[102]. - Commercial Aircraft segment net sales rose to $219.44 million for the three months ended June 28, 2025, compared to $189.37 million in 2024, reflecting a 15.87% increase[102]. Impairments and Reserves - The company reported an increase in asset impairment and inventory write-down to $10,988,000 in 2025 from $8,637,000 in 2024, representing a rise of 27.3%[27]. - The company has contract reserves of $69,832 as of June 28, 2025, reflecting anticipated losses on certain contracts[44]. Tax and Compliance - The effective tax rate for the three and nine months ended June 28, 2025, was 23.4%, compared to 20.5% and 22.7% for the same periods in 2024[16][95]. - The company does not expect any material change to its ongoing tax rate due to the recent tax law changes enacted on July 4, 2025[95]. Foreign Currency and Derivatives - The net gain from foreign currency contracts for the three months ended June 28, 2025, was $13,048, compared to a loss of $2,542 for the same period in 2024[86]. - The notional amount of outstanding foreign currency contracts was $45,035 million as of June 28, 2025, maturing through December 23, 2026[82].
Moog(MOG_A) - 2025 Q3 - Quarterly Report