Moog Inc

Latest Results (24.06.2026):

Moog Inc. (fiscal third quarter 2025) reported record net sales of $971 million and record adjusted diluted EPS of $2.37 (GAAP diluted EPS $1.87), with 7% sales growth, improved adjusted operating margin and $93 million of free cash flow; the company also posted a record 12‑month backlog of $2.7 billion and closed a post‑quarter acquisition to strengthen its Space & Defense portfolio.

Key financials

Q3 2025 net sales $971M (+7% vs Q3 2024), GAAP diluted EPS $1.87 (+7%), adjusted diluted EPS $2.37 (+24%); net earnings $59.7M; adjusted operating margin 13.6% (vs 12.3% prior year).

Margins and adjustments

Reported operating margin was 11.5% (down 10 bps) as program termination charges and simplification initiative charges (~$20M of adjustments) offset operational gains; excluding these items adjusted operating margin improved 130 bps to 13.6%.

Segment performance

Commercial Aircraft led growth (+16%) driven by record aftermarket demand (segment margin up to 14.9%). Space & Defense sales +11% (margin 13.3%). Military Aircraft sales +8% but operating margin fell to 8.0% (charges tied to a program termination and R&D ramp). Industrial sales declined 4% due to divestitures; adjusted industrial margin improved on simplification benefits.

Cash flow and capital spend

Free cash flow for the quarter was $93M (free cash flow conversion >120% on adjusted earnings); capital expenditures were ~$33M. Net cash from operations improved to $125M for the quarter.

Backlog and M&A

Twelve‑month backlog reached a record $2.7B, led by Military Aircraft and Space & Defense demand. Moog acquired COTSWORKS after quarter‑end to bolster its Space & Defense product portfolio.

Guidance update

FY2025 sales guidance raised to $3.8B (from $3.7B). Adjusted operating margin guidance narrowed to 12.8% (reflecting tariff headwinds), diluted EPS guidance lowered to $7.44 (from $7.89) while adjusted diluted EPS guidance is $8.25. Free cash flow conversion guidance moderated to 30–50% (from prior 50%).

Balance sheet / financing notes

Cash and equivalents ~$58M; receivables and unbilled receivables remain elevated. Long‑term debt increased to ~$1.08B (June 28, 2025). Management cites working capital needs to support growth as a driver of the moderated FCF guidance.