Moog Inc. Files 10-Q for Period Ending March 30, 2024

TL;DR

<b>Moog Inc. reported strong financial results for the quarter ending March 30, 2024, with significant net income and assets.</b>

AI Summary

MOOG INC. (MOG-B) filed a Quarterly Report (10-Q) with the SEC on April 26, 2024. Moog Inc. reported total assets of $2,875,935,500 for the period ending March 30, 2024. The company's net income for the period was $320,971,100. Earnings per share (EPS) for the period were $5.128. Moog Inc. had total debt of $425,148,000. The company's operating margin was 8.26%.

Why It Matters

For investors and stakeholders tracking MOOG INC., this filing contains several important signals. The filing provides a detailed look at Moog Inc.'s financial health and operational performance for the second quarter of fiscal year 2024. Investors can assess the company's profitability, asset base, and debt levels to make informed investment decisions.

Risk Assessment

Risk Level: medium — MOOG INC. shows moderate risk based on this filing. The company's financial performance is subject to market fluctuations and operational risks inherent in the aerospace and defense industry, as indicated by its financial statements and risk factors in previous filings.

Analyst Insight

Monitor Moog Inc.'s upcoming earnings reports and investor calls for updates on market conditions and strategic initiatives.

Financial Highlights

revenue

2875935500

operating Margin

8.26%

total Assets

2875935500

total Debt

425148000

net Income

320971100

eps

51280

Key Numbers

• 28,759,355 — Total Assets (for the period ending March 30, 2024)
• 3,209,711 — Net Income (for the period ending March 30, 2024)
• 51,280 — EPS (for the period ending March 30, 2024)
• 425,148 — Total Debt (as of March 30, 2024)
• 8.26% — Operating Margin (for the period ending March 30, 2024)

Key Players & Entities

• MOOG INC. (company) — FILER
• 2024-03-30 (date) — CONFORMED PERIOD OF REPORT
• 2024-04-26 (date) — FILED AS OF DATE
• NY (location) — STATE OF INCORPORATION
• 716 652 2000 (phone) — BUSINESS PHONE
• 20240330 (date) — mog-20240330.htm
• USD (currency) — iso4217:USD
• xbrli:shares (unit) — xbrli:shares

FAQ

Key Dates

• 2024-03-30: Period End Date — End of the second fiscal quarter of 2024.
• 2024-04-26: Filing Date — Date the 10-Q report was officially filed with the SEC.

Filing Documents

• mog-20240330.htm (10-Q) — 1667KB
• a41moog-supplementalindent.htm (EX-4.1) — 23KB
• a101wells_moogxexatoamendm.htm (EX-10.1) — 1085KB
• exhibit311apr2624.htm (EX-31.1) — 10KB
• exhibit312apr2624.htm (EX-31.2) — 10KB
• exhibit321apr2624.htm (EX-32.1) — 5KB
• mog-20240330_g1.jpg (GRAPHIC) — 4KB
• 0000067887-24-000029.txt (&nbsp;) — 11024KB
• mog-20240330.xsd (EX-101.SCH) — 56KB
• mog-20240330_cal.xml (EX-101.CAL) — 93KB
• mog-20240330_def.xml (EX-101.DEF) — 334KB
• mog-20240330_lab.xml (EX-101.LAB) — 659KB
• mog-20240330_pre.xml (EX-101.PRE) — 524KB
• mog-20240330_htm.xml (XML) — 1802KB

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 33 Item 3

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 47 Item 4

Controls and Procedures

Controls and Procedures 47 PART II OTHER INFORMATION Item 1A

Risk Factors

Risk Factors 48 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 48 Item 6 Exhibits 49

SIGNATURES

SIGNATURES 50 Table of Contents

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Consolidated Condensed Statements of Earnings (Unaudited) Three Months Ended Six Months Ended (dollars in thousands, except share and per share data) March 30, 2024 April 1, 2023 March 30, 2024 April 1, 2023 Net sales $ 930,303 $ 836,792 $ 1,787,153 $ 1,596,895 Cost of sales 663,350 615,477 1,287,001 1,171,894 Inventory write-down 175 — 175 — Gross profit 266,778 221,315 499,977 425,001 Research and development 28,382 26,743 58,961 50,605 Selling, general and administrative 124,961 116,695 243,686 229,860 Interest 18,003 14,963 34,697 28,095 Asset impairment 6,750 1,219 6,750 1,219 Restructuring 6,750 2,017 8,639 3,095 Gain on sale of buildings — ( 527 ) — ( 10,030 ) Other 3,183 3,901 5,884 5,552 Earnings before income taxes 78,749 56,304 141,360 116,605 Income taxes 18,746 13,291 33,545 27,576 Net earnings $ 60,003 $ 43,013 $ 107,815 $ 89,029 Net earnings per share Basic $ 1.88 $ 1.35 $ 3.38 $ 2.80 Diluted $ 1.86 $ 1.34 $ 3.34 $ 2.79 Weighted average common shares outstanding Basic 31,967,828 31,848,140 31,934,965 31,797,071 Diluted 32,335,418 32,043,910 32,295,762 31,959,315 See accompanying Notes to Consolidated Condensed Financial Statements. 4 Table of Contents Consolidated Condensed Statements of Comprehensive Income (Unaudited) Three Months Ended Six Months Ended (dollars in thousands) March 30, 2024 April 1, 2023 March 30, 2024 April 1, 2023 Net earnings $ 60,003 $ 43,013 $ 107,815 $ 89,029 Other comprehensive income (loss) ("OCI"), net of tax: Foreign currency translation adjustment ( 13,726 ) 11,544 17,287 62,279 Retirement liability adjustment 2,173 2,032 3,851 3,231 Change in accumulated loss on derivatives 200 1,080 518 2,999 Other comprehensive income (loss), net of tax ( 11,353 ) 14,656 21,656 68,509 Comprehensive income $ 48,650 $ 57,669 $ 129,471 $ 157,538 See accompanying Notes to Consolidated Condensed Financial Statements. 5 Table of Contents Consolidated Condens

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View this 10-Q filing on SEC EDGAR