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Mar 30, 2024
Moog Q2 2024 Earnings Report
Moog reported record sales and continued margin expansion.
Key Takeaways
Moog Inc. reported an exceptional second quarter with record sales of $930 million, an 11% increase compared to the prior year. Diluted earnings per share were $1.86, and adjusted diluted earnings per share reached $2.19, driven by margin enhancement efforts and strong business performance across all segments.
Net sales increased by 11% to $930 million, with a 26% increase in Commercial Aircraft sales.
Operating margin increased by 200 basis points to 12.0%, with business performance across all segments contributing an incremental 165 basis points.
Adjusted operating margin increased by 320 basis points to 13.6%, driven by underlying business performance and the Employee Retention Credit.
Twelve-month backlog increased 9% to a record level of $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
Fiscal year 2024 is shaping up to be another great year of financial performance, and we're on track to achieve our long-term financial targets. This year, our sales will grow by 7%, our adjusted operating margin will expand by 150 basis points and our adjusted earnings per share will increase by 18%.