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Dec 30, 2023
Moog Q1 2024 Earnings Report
Moog reported sales growth and margin expansion, increasing full-year earnings per share guidance.
Key Takeaways
Moog Inc. reported a strong start to fiscal year 2024, with net sales increasing by 13% to $857 million and adjusted diluted earnings per share rising by 22% to $1.53. The company also raised its full-year sales and earnings per share guidance.
Net sales increased 13%, driven by growth across all four segments, including a near 50% increase in Commercial Aircraft.
Adjusted operating margin expanded 90 basis points to 11.3%.
Adjusted diluted earnings per share increased 22%.
Twelve-month backlog increased 6% to $2.5 billion due to growth across our aerospace and defense businesses.
Moog
Moog
Moog Revenue by Segment
Revenue by Segment
Commercial Aircraft Revenue
CapyFin.com Forward Guidance
Moog is raising its sales and earnings per share guidance for the year based on its first quarter results, and are holding its operating margin guidance. Sales in fiscal year 2024 will grow by 5%, operating margin will expand by 110 basis points and earnings per share will increase by 12%.