MOOG INC. Files 10-Q for Period Ending December 30, 2023

TL;DR

<b>Moog Inc. filed its quarterly report (10-Q) for the period ending December 30, 2023, detailing its financial position.</b>

AI Summary

MOOG INC. (MOG-B) filed a Quarterly Report (10-Q) with the SEC on January 26, 2024. Moog Inc. reported financial results for the period ending December 30, 2023. The filing is a 10-Q, indicating a quarterly report. The company's fiscal year ends on September 28th. Moog Inc. is incorporated in New York. The filing includes data related to common stock, additional paid-in capital, retained earnings, and treasury stock.

Why It Matters

For investors and stakeholders tracking MOOG INC., this filing contains several important signals. This 10-Q filing provides investors with an updated view of Moog Inc.'s financial performance and position during the specified quarter. Understanding the details within this report is crucial for assessing the company's short-term financial health and operational trends.

Risk Assessment

Risk Level: low — MOOG INC. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags, indicating a routine disclosure.

Analyst Insight

Review the detailed financial statements and segment information within the 10-Q to understand Moog Inc.'s performance drivers and any emerging trends.

Key Numbers

• 20231230 — Period End Date (CONFORMED PERIOD OF REPORT)
• 20240126 — Filing Date (FILED AS OF DATE)
• 0928 — Fiscal Year End (FISCAL YEAR END)
• 28,753,750 — Value (Common Class A Shares)
• 3,202,563 — Value (Common Class B Shares)

Key Players & Entities

• MOOG INC. (company) — FILER
• MOOG INC. (company) — COMPANY CONFORMED NAME
• NY (location) — STATE OF INCORPORATION
• NY (location) — STATE
• 10-Q (document) — FORM TYPE
• 1934 Act (regulation) — SEC ACT
• 20231230 (date) — CONFORMED PERIOD OF REPORT
• 20240126 (date) — FILED AS OF DATE

Forward-Looking Statements

• The total outstanding share count for MOOG INC. will remain relatively stable in the near term, barring any major corporate actions. (MOOG INC.) — medium confidence, target: 2024-06-30

FAQ

Industry Context

Moog Inc. operates in the industrial machinery and equipment sector, specifically focusing on components and systems for aerospace, defense, and industrial markets.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial disclosures.

What Investors Should Do

1. Analyze the balance sheet details for changes in assets, liabilities, and equity.
2. Examine any footnotes or disclosures for specific operational or financial events.
3. Compare key figures to previous periods to identify trends.

Key Dates

• 2023-12-30: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-01-26: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This is a 10-Q filing for the quarter ending December 30, 2023. Specific comparative data from the previous filing (likely a 10-Q for the quarter ending September 30, 2023, or an annual 10-K) is not detailed in this header information.

Filing Documents

• mog-20231230.htm (10-Q) — 1305KB
• a101moogpsuformofagreement.htm (EX-10.1) — 78KB
• exhibit311jan2624.htm (EX-31.1) — 10KB
• exhibit312jan2624.htm (EX-31.2) — 10KB
• exhibit321jan2624.htm (EX-32.1) — 5KB
• mog-20231230_g1.jpg (GRAPHIC) — 4KB
• 0000067887-24-000010.txt (&nbsp;) — 8518KB
• mog-20231230.xsd (EX-101.SCH) — 55KB
• mog-20231230_cal.xml (EX-101.CAL) — 91KB
• mog-20231230_def.xml (EX-101.DEF) — 315KB
• mog-20231230_lab.xml (EX-101.LAB) — 706KB
• mog-20231230_pre.xml (EX-101.PRE) — 504KB
• mog-20231230_htm.xml (XML) — 1379KB

Financial Statements (Unaudited)

Financial Statements (Unaudited): Consolidated Condensed Statements of Earnings 4 Consolidated Condensed Statements of Comprehensive Income 5 Consolidated Condensed Balance Sheets 6 Consolidated Condensed Statements of Shareholders' Equity 7 Consolidated Condensed Statements of Cash Flows 9 Notes to Consolidated Condensed Financial Statements 10 Item 2

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 31 Item 3

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 44 Item 4

Controls and Procedures

Controls and Procedures 45 PART II OTHER INFORMATION Item 1A

Risk Factors

Risk Factors 46 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 46 Item 6 Exhibits 47

SIGNATURES

SIGNATURES 48 Table of Contents

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Consolidated Condensed Statements of Earnings (Unaudited) Three Months Ended (dollars in thousands, except share and per share data) December 30, 2023 December 31, 2022 Net sales $ 856,850 $ 760,103 Cost of sales 623,651 556,417 Gross profit 233,199 203,686 Research and development 30,579 23,862 Selling, general and administrative 118,725 113,165 Interest 16,694 13,132 Restructuring 1,889 1,078 Gain on sale of buildings — ( 9,503 ) Other 2,701 1,651 Earnings before income taxes 62,611 60,301 Income taxes 14,799 14,285 Net earnings $ 47,812 $ 46,016 Net earnings per share Basic $ 1.50 $ 1.45 Diluted $ 1.48 $ 1.44 Weighted average common shares outstanding Basic 31,902,101 31,746,001 Diluted 32,249,313 31,874,718 See accompanying Notes to Consolidated Condensed Financial Statements. 4 Table of Contents Consolidated Condensed Statements of Comprehensive Income (Unaudited) Three Months Ended (dollars in thousands) December 30, 2023 December 31, 2022 Net earnings $ 47,812 $ 46,016 Other comprehensive income ("OCI"), net of tax: Foreign currency translation adjustment 31,013 50,735 Retirement liability adjustment 1,678 1,199 Change in accumulated loss on derivatives 318 1,919 Other comprehensive income, net of tax 33,009 53,853 Comprehensive income $ 80,821 $ 99,869 See accompanying Notes to Consolidated Condensed Financial Statements. 5 Table of Contents Consolidated Condensed Balance Sheets (Unaudited) (dollars in thousands) December 30, 2023 September 30, 2023 ASSETS Current assets Cash and cash equivalents $ 126,398 $ 68,959 Restricted cash 430 185 Receivables, net 381,609 434,723 Unbilled receivables 760,561 706,601 Inventories, net 788,040 724,002 Prepaid expenses and other current assets 59,577 50,862 Total current assets 2,116,615 1,985,332 Property, plant and equipment, net 842,682 814,696 Operating lease right-of-use assets 59,489 56,067 Goodwill 833,413 821,301

View Full Filing

View this 10-Q filing on SEC EDGAR