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Jul 02, 2022
Moog Q3 2022 Earnings Report
Moog's third quarter results were announced, revealing a sales increase and strong earnings per share growth.
Key Takeaways
Moog Inc. reported a 9% increase in sales to $773 million for the third quarter ended July 2, 2022. GAAP diluted earnings per share were $1.57, including $0.03 per share in restructuring and impairment charges. Non-GAAP diluted adjusted earnings per share were $1.61, up 44% year-over-year. The company forecasts sales of $3.0 billion for fiscal year 2022.
Sales increased by 9% year-over-year, reaching $773 million.
GAAP diluted earnings per share were $1.57, which included $0.03 per share in restructuring and impairment charges.
Non-GAAP diluted adjusted earnings per share increased by 44% year-over-year to $1.61.
Consolidated 12-month backlog was $2.2 billion, up 10% from a year ago.
Forward Guidance
The company updated its fiscal 2022 projections and adjusted figures provided 90 days ago.
Positive Outlook
- Forecasted sales of $3.0 billion, unchanged from 90 days ago.
- Forecasted GAAP diluted earnings per share of $5.36, and adjusted diluted earnings per share of $5.65, both plus or minus $0.15.
- Forecasted GAAP operating margins of 9.9% and adjusted operating margins of 10.3%.
- Forecasted cash flow from operating activities of $276 million and adjusted cash flow from operating activities of $176 million.
- Forecasted GAAP effective tax rate of 22.3%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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