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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