SPY408.32+8.23 2.06%
DIA327.10+4.32 1.34%
IXIC11,984.52+321.73 2.76%

Moog Q2 Results Beat Street View

Benzinga · 04/29/2022 13:45
  • Moog Inc (NYSE: MOG-A) reported second-quarter sales growth of 4.7% year-over-year to $770.79 million, beating the consensus of $758.21 million.
  • Adjusted EPS improved to $1.49 (+12% Y/Y), beating the consensus of $1.28.
  • Segment sales: Aircraft Controls $311.3 million (+2% Y/Y), Space & Defense Controls $223.3 million (+8% Y/Y), and Industrial Systems $235.2 million (+5% Y/Y).
  • The gross margin expanded by 50 bps to 27.6%. Adjusted operating profit was $82 million (+13% Y/Y), and the margin expanded by 80 bps to 10.6%.
  • Moog’s net cash provided by operating activities YTD was $180.18 million, compared to $137.36 million a year ago.
  • The consolidated 12-month backlog was $2.3 billion, up 17% Y/Y.
  • Dividend: Moog declared a quarterly dividend of $0.26 per share of Class A common stock and Class B common stock, payable on May 31, 2022, to all shareholders of record on May 13, 2022.
  • FY22 Outlook: Moog expects sales of ~$3 billion, operating margins of 10.0%, and adjusted operating margins of 10.3%.
  • It expects GAAP EPS of $5.24 (prior guidance of $5.83) and adjusted EPS of $5.50, both plus or minus $0.20.
  • Moog sees cash flow from operating activities of $328 million and adjusted cash flow from operating activities of $228 million.
  • Price Action: MOG.A shares are trading lower by 2.92% at $82.26 on the last check Friday.