Moog Inc

Latest Results (02.04.2026):

Moog Inc. — Fiscal third quarter 2025: the company reported record net sales of $971 million and record diluted adjusted EPS of $2.37 (GAAP diluted EPS $1.87). Sales rose 7% year‑over‑year, adjusted operating margin expanded to 13.6%, free cash flow for the quarter was $93 million (free cash flow conversion ~123%), and 12‑month backlog reached a record $2.7 billion. Management noted charges for a program termination and simplification initiatives that moderated GAAP operating margin to 11.5%.

Revenue & EPS

Net sales were a record $971.4M (up 7% vs Q3 2024). GAAP diluted EPS was $1.87 (+7% YoY); adjusted diluted EPS (excluding certain charges) was a record $2.37 (+24% YoY).

Margins

Reported operating margin was 11.5% (down 10 bps YoY) after $20M of discrete charges; adjusted operating margin rose to 13.6% (up 130 bps YoY) driven by favorable mix and one‑time IP/inventory sale, partly offset by tariff pressures.

Segment performance

Commercial Aircraft led growth (+16%) on strong aftermarket demand; Space & Defense +11% (satellite and missile programs); Military Aircraft +8% (FLRAA ramp); Industrial declined 4% due to early‑year divestitures.

Cash flow & capital spending

Net cash from operations was $125M for the quarter and free cash flow was $93M (capex ~$33M for the quarter, $103M YTD). Free cash flow conversion for the quarter was about 123%.

Backlog & bookings

Twelve‑month backlog reached a record $2.7 billion, with growth mainly from Military Aircraft and Space & Defense, reflecting strong order intake and aftermarket strength.

Charges, adjustments & one‑offs

Q3 included charges for a program termination and simplification initiatives (~$20M excluded from adjusted results). Adjusted results also benefited from the sale of intellectual property and inventory related to a non‑core product line.

Acquisition & portfolio actions

Moog completed the acquisition of COTSWORKS after the quarter to strengthen its Space & Defense product portfolio; earlier divestitures reduced Industrial sales but are part of the company’s simplification/portfolio‑shaping work.

Guidance update

Moog raised FY2025 sales guidance to $3.8B (from $3.7B). Guidance reflects tariff headwinds: operating margin guidance set at 11.9% (previously 12.7%) and adjusted operating margin guidance at 12.8% (previously 13.0%). FY diluted EPS guidance is $7.44 (adjusted EPS $8.25); free cash flow conversion guidance moderated to 30–50%.

Balance sheet & liquidity

Cash and equivalents were ~$58.2M at quarter end; receivables and unbilled receivables remain elevated (supporting growth). Long‑term debt increased (noted financing activity during the year) while shareholders’ equity stayed strong (~$1.94B).