The 10-second takeaway
For the quarter ended June 30 (Q3), Moog missed estimates on revenue and met expectations on earnings per share.
Compared to the prior-year quarter, revenue increased and GAAP earnings per share expanded significantly.
Margins improved across the board.
Moog chalked up revenue of $611.2 million. The seven analysts polled by S&P Capital IQ wanted to see sales of $625.3 million on the same basis. GAAP reported sales were 4.8% higher than the prior-year quarter's $583.0 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.85. The seven earnings estimates compiled by S&P Capital IQ forecast $0.85 per share. GAAP EPS of $0.85 for Q3 were 16% higher than the prior-year quarter's $0.73 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 30.0%, 100 basis points better than the prior-year quarter. Operating margin was 10.1%, 90 basis points better than the prior-year quarter. Net margin was 6.4%, 60 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $633.9 million. On the bottom line, the average EPS estimate is $0.92.
Next year's average estimate for revenue is $2.48 billion. The average EPS estimate is $3.33.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Moog is outperform, with an average price target of $47.00.
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