Financial Performance - Moog Inc. reported record net sales of $971 million for Q3 2025, a 7% increase from $905 million in Q3 2024[2][3]. - Diluted earnings per share reached $1.87, up 7% from $1.74 in the same quarter last year, while adjusted diluted earnings per share increased by 24% to $2.37[2][3]. - The operating profit for the three months ended June 28, 2025, was $111,867,000, compared to $105,380,000 in the prior year, reflecting an increase of 6.4%[26]. - The net earnings for the nine months ended June 28, 2025, were $194,466,000, up from $182,111,000 for the same period in 2024, indicating a growth of 6.5%[21]. - Diluted net earnings per share for the three months ended June 28, 2025, were $2.37, compared to $1.91 in the same period of 2024, marking a significant increase of 24.1%[21]. - Moog Inc. achieved an adjusted total operating profit of $131,680,000 for the three months ended June 28, 2025, compared to $111,309,000 in the same period of 2024, reflecting a growth of 18.3%[28]. - The adjusted net earnings for the nine months ended June 28, 2025, were $194,466 thousand, compared to $182,111 thousand for the same period in 2024, showing an increase of 6.5%[35]. Backlog and Guidance - The twelve-month backlog hit a record $2.7 billion, primarily driven by growth in Military Aircraft and Space and Defense sectors[6]. - Moog Inc. updated its FY 2025 guidance, increasing net sales expectations to $3.8 billion from $3.7 billion, while moderating free cash flow guidance to 30-50%[11]. - The operating margin guidance was adjusted to 11.9%, down from the previous estimate of 12.7% due to anticipated tariff pressures[11]. Segment Performance - Sales in the Commercial Aircraft segment increased by 16%, while Space and Defense sales grew by 11%[7]. - The Space and Defense segment reported an operating profit margin of 14.1% for the three months ended June 28, 2025, up from 12.7% in the prior year[28]. - The Military Aircraft segment's operating profit was adjusted to $26,059,000 for the three months ended June 28, 2025, compared to $24,574,000 in the same period of 2024, indicating a growth of 6.0%[28]. - The Industrial segment's adjusted operating profit for the three months ended June 28, 2025, was $32,388,000, compared to $29,213,000 in the same period of 2024, representing an increase of 7.5%[28]. Cash Flow and Assets - Free cash flow improved to $93 million, with a conversion rate exceeding 120%[10]. - Free cash flow for the nine months ended June 28, 2025, was $(70,578) thousand, a decline from $(88,061) thousand in the same period of 2024, indicating a worsening cash flow situation[35]. - The company reported a free cash flow conversion rate of 123% for the three months ended June 28, 2025, compared to a negative conversion of (3)% in the same period of 2024[35]. - Total assets increased to $4,396,574 thousand as of June 28, 2025, up from $4,093,626 thousand in the previous year, representing a growth of 7.4%[31]. - Cash and cash equivalents at the end of the period were $59,014 thousand, up from $51,518 thousand, marking an increase of 14.5%[33]. Liabilities and Inventory - Total current liabilities decreased slightly to $988,614 thousand from $999,027 thousand year-over-year, a reduction of 1.4%[31]. - Long-term debt, excluding current installments, rose to $1,081,674 thousand, an increase of 23.8% from $874,139 thousand in the previous year[31]. - The company’s total liabilities increased to $2,452,873 thousand, up from $2,232,993 thousand, representing a growth of 9.8%[31]. - Inventories increased to $924,682 thousand as of June 28, 2025, from $863,702 thousand, reflecting a rise of 7.1%[31]. Tax and Other Financial Metrics - The effective income tax rate for the three months ended June 28, 2025, was 22.8%, compared to 19.3% for the same period in 2024[21]. - Moog Inc. reported a total earnings before income taxes of $97,795,000 for the three months ended June 28, 2025, compared to $76,834,000 in the same period of 2024, reflecting a growth of 27.3%[21]. - Military Aircraft operating margin declined by 360 basis points to 8.0%, impacted by charges related to a product development termination[8]. - The adjusted operating margin rose to 13.6%, an increase of 130 basis points from 12.3% in the previous year[9]. - The company acquired COTSWORKS after the quarter-end, enhancing its Space and Defense product portfolio[6].
Moog(MOG_B) - 2025 Q3 - Quarterly Results