The 10-second takeaway
For the quarter ended Dec. 29 (Q1), Moog missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue grew and GAAP earnings per share dropped.
Gross margins increased, operating margins contracted, net margins dropped.
Moog reported revenue of $620.8 million. The eight analysts polled by S&P Capital IQ expected net sales of $634.5 million on the same basis. GAAP reported sales were 3.4% higher than the prior-year quarter's $600.6 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 $0.75. The seven earnings estimates compiled by S&P Capital IQ forecast $0.81 per share. GAAP EPS of $0.75 for Q1 were 6.3% lower than the prior-year quarter's $0.80 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 31.0%, 20 basis points better than the prior-year quarter. Operating margin was 8.9%, 110 basis points worse than the prior-year quarter. Net margin was 5.5%, 60 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $652.4 million. On the bottom line, the average EPS estimate is $0.87.
Next year's average estimate for revenue is $2.63 billion. The average EPS estimate is $3.60.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Moog is outperform, with an average price target of $46.13.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.