Free Research Report as Moog’s Sales Grew 6% and Adjusted EPS Advanced 11%

LONDON, UK / ACCESSWIRE / February 06, 2018 / Active-Investors.com has just released a free earnings report on Moog Inc. (NYSE: MOG-A). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=MOG-A. The Company reported its first quarter fiscal 2018 operating and financial results on January 26, 2018. The aerospace contractor reported better than expected revenue and earnings, and provided guidance for fiscal year 2018. Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Moog most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

For the first quarter ended December 30, 2017, Moog's sales grew 6% to $627.54 million compared to $589.67 million in Q1 FY17. Approximately 25% of the reported quarter's growth was attributed to strong foreign currencies routed to the US dollar. The Company's revenue numbers topped analysts' estimates by $8.76 million.

During Q1 FY18, Moog's gross profit totaled $184.11 million compared to $172.11 million in Q1 FY17. The Company's operating margin came in at 10.6% for the reported quarter, up from 8.9% in the year earlier same quarter.

For Q1 FY18, Moog reported a net income of $1.30 million, or $0.04 per diluted share, compared to $30.56 million, or $0.84 per diluted share, in Q1 FY17. The Company's reported quarter results included a transition tax on Moog's offshore cash and earnings results of $0.85 per share; a charge for estimated withholding taxes of $0.41 per share; a charge for the revaluation of the Company's deferred taxes of $0.03 per share, offset by a benefit of $0.07 per share related to the reduction of the corporate tax rate to 21% from 35%; and an incremental tax benefit of $0.33 per share.

Moog's non-GAAP adjusted earnings were $0.93 per share, up 11% from the year ago comparable period, and ahead of Wall Street's estimates of $0.88 per share.

Segment Results

During Q1 FY18, Moog's Aircraft Controls segment's sales grew 4% to $278.53 million on a y-o-y basis. The segment's commercial aircraft revenues advanced 10% to $154 million. For the reported quarter, the segment's sales of OEM products to Airbus increased 14%, driven by strong A350 sales, while Boeing OEM products sales were mostly unchanged at $61 million.

For Q1 FY18, Moog's Aircraft Controls segment's military aircraft sales fell 3% to $124 million on a y-o-y basis. Military OEM products sales were 2% higher at $82 million, while military aftermarket sales declined 10%, attributed to lower B-2 and V-22 activity. The Aircraft Controls segment reported an operating profit of $30.77 million, or 11.0% of sales, in Q1 FY18 compared to $23.11 million, or 8.6% of sales, in Q1 FY17.

Moog's Space and Defense segment's sales advanced 9% to $133.39 million for Q1 FY18. The segment's Defense sales were 11% higher on strong sales into military vehicle applications in the US and Europe, while Space sales were 5% higher, partly due to increased sales of satellite avionics products. The Space and Defense segment's operating profit came in at $16.29 million, or 12.2% of sales, in the reported quarter compared to $9.09 million, or 7.4% of sales, in the prior year's corresponding quarter.

During Q1 FY18, Moog's Industrial System segment's sales totaled $215.61 million, reflecting a growth of 9% on a y-o-y basis. The segment's sales were higher in the four major markets served, with a particularly strong sales in industrial automation. Moog's consolidated 12-month backlog was $1.3 billion at the end of the reported quarter.

Outlook

For the fiscal year 2018, Moog is forecasting revenues of $2.62 billion and operating margins of 11.0%. The Company is estimating GAAP forecasted earnings per share to be approximately $3.43, plus or minus $0.20, including the impacts of the Tax Reform, and non-GAAP adjusted diluted earnings per share of $4.10, plus or minus $0.20, excluding the impacts of the Tax Reform.

Stock Performance Snapshot

February 05, 2018 - At Monday's closing bell, Moog's stock fell 8.44%, ending the trading session at $81.98.

Volume traded for the day: 163.27 thousand shares, which was above the 3-month average volume of 118.21 thousand shares.

Stock performance in the previous six-month period – up 8.83%; and past twelve-month period – up 20.99%

After yesterday's close, Moog's market cap was at $2.97 billion.

Price to Earnings (P/E) ratio was at 26.51.

The stock is part of the Industrial Goods sector, categorized under the Aerospace/Defense Products & Services industry.

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