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 same period of 2024[11] - The company reported a comprehensive income of $114,703,000 for the three months ended June 28, 2025, compared to $51,769,000 for the same period in 2024, reflecting a significant increase[15] - Net earnings for the nine months ended June 28, 2025, were $168,574,000, compared to $164,175,000 for the same period in 2024, reflecting a growth of 2.4%[27] - Total operating profit for the nine months ended June 28, 2025, was $322,331,000, compared to $311,928,000 for the same period in 2024, showing a growth of approximately 3.3%[11] - The company reported earnings before income taxes of $77,982,000 for the three months ended June 28, 2025, compared to $70,905,000 for the same period in 2024, marking an increase of about 9.3%[11] Expenses and Costs - 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] - Depreciation expenses increased to $69,292,000 for the nine months ended June 28, 2025, up from $64,302,000 in the prior year, representing an increase of 4.6%[27] - Operating lease cost for the three months ended June 28, 2025, was $8,261, compared to $7,897 for the same period in 2024, reflecting an increase of 4.6%[67] - Total finance lease cost for the nine months ended June 28, 2025, was $15,137, up from $10,251 in 2024, representing a 47.8% increase[67] 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] - 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 total shareholders' equity as of June 28, 2025, was $1,943,701,000, up from $1,860,633,000 as of September 28, 2024[18] - The company had outstanding foreign currency contracts with notional amounts of $45,035 as of June 28, 2025, maturing through December 23, 2026[82] Cash Flow - Net cash provided by operating activities was $32,463,000 for the nine months ended June 28, 2025, down from $46,555,000 in 2024, indicating a decrease of 30.2%[27] - The company had a net cash used in investing activities of $92,398,000 for the nine months ended June 28, 2025, compared to $114,546,000 for 2024[27] - 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] Segment Performance - Space segment net sales for the three months ended June 28, 2025, were $118.66 million, compared to $108.97 million in 2024, reflecting an increase of approximately 8.5%[102] - Defense segment net sales for the three months ended June 28, 2025, were $169.04 million, up from $149.44 million in 2024, marking a growth of about 13.1%[102] - Military Aircraft segment net sales rose to $224.66 million for the three months ended June 28, 2025, from $207.18 million in 2024, indicating an 8.00% increase[102] - Commercial Aircraft segment operating profit increased to $32.62 million for the three months ended June 28, 2025, compared to $24.37 million in 2024, a growth of 33.83%[104] Acquisitions and Investments - The company acquired Data Collection Limited for a purchase price of $5,911 on October 20, 2023, and COTSWORKS, Inc. for $63,000 on July 1, 2025[51][52] - The company recorded losses of $14,897 related to asset impairment and fair value adjustment from divesting a motors business in the Czech Republic and a hydraulic systems business in Luxembourg[53] 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] Shareholder Information - The diluted weighted-average shares outstanding for the three months ended June 28, 2025, were 31,896,949, a decrease from 32,409,370 in the same period of 2024[101] - The company declared a quarterly dividend of $0.29 per share, payable on August 26, 2025, to shareholders of record as of August 8, 2025[110]
Moog(MOG_B) - 2025 Q3 - Quarterly Report