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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.
Revenue by Segment
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%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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