mogb - MOGB STOCK NEWS

Moog Inc. reported record sales and continued margin expansion for the second quarter of 2024. Net sales increased by 11%, operating margin improved by 200 basis points, and adjusted operating margin increased by 320 basis points. Diluted earnings per share grew by 39%, and adjusted diluted earnings per share rose by 54%. The company's free cash flow also improved by $17 million. Sales increased across all segments, with Commercial Aircraft sales up by 26%, Space and Defense by 9%, Military Aircraft by 11%, and Industrial by 4%. Moog Inc. provided a positive financial outlook for fiscal year 2024, with expected growth in net sales, adjusted operating margin, and earnings per share.

Moog Inc. (NYSE: MOG.A and MOG.B) will announce its second quarter fiscal 2024 earnings on April 26, 2024, with a conference call hosted by CEO Pat Roche and CFO Jennifer Walter. The call will be broadcast live online, with supplemental materials available on the company's website.

Moog to supply flight control content for the aircraft

The Company (NYSE: MOG.A and MOG.B) has announced a quarterly dividend of $.25 per share for its Class A and Class B common stock. The total cash outflow for the dividend is estimated at $8 million. Payment will be made on August 30, 2021, to shareholders on record as of August 13, 2021. Future dividends will depend on the Board of Directors' discretion. Moog Inc. specializes in the design and manufacturing of precision control components for various industries, including military and commercial sectors.

Moog Inc. (NYSE: MOG.A, MOG.B) will announce its third quarter fiscal 2021 earnings on July 30, 2021, for the period ending July 3, 2021. A conference call will be held at 10:00 a.m. ET, hosted by Chairman and CEO John Scannell and CFO Jennifer Walter. The call will be accessible via the company’s investor relations website. Supplemental data will be made available about 90 minutes prior to the call and is archived for 30 days. Moog designs and manufactures precision control components for military and commercial applications.

Moog Inc. (NYSE: MOG.A and MOG.B) has signed an agreement to sell its Navigation Aids (Navaids) business to Thales, a segment that constitutes under 1% of Moog's annual sales. This divestiture is not expected to incur any material costs for the company. The Navaids division, based in Salt Lake City, specializes in radio frequency navigation beacons for both military and civilian uses. The agreement will proceed pending regulatory review and other customary conditions. Financial specifics of the deal were not disclosed.

Moog Inc. (NYSE: MOG.A and MOG.B) announced a significant contract with Leonardo DRS to supply 28 Reconfigurable Integrated-weapons Platform (RIwP) turrets for the U.S. Army’s M-SHORAD Inc. 1 program. This award includes 30 turrets in total, highlighting Moog's capacity to deliver nine prototypes rapidly for Army evaluation. The RIwP integrates various weapon systems, enhancing battlefield flexibility and targeting capabilities. This contract marks Moog's first record production contract for RIwP, reinforcing its position as a leading turret supplier for military applications.

Moog Inc. (MOG.A, MOG.B) has announced a quarterly dividend of $0.25 per share for its Class A and Class B common stock. This dividend will be paid on June 1, 2021, to shareholders of record as of May 14, 2021, representing an estimated cash outlay of $8 million. Future dividends will depend on the Board's discretion, influenced by various financial factors.

Moog Inc. reported second-quarter results with sales of $736 million, down 4% year-over-year. Diluted earnings per share increased by 2% to $1.51, including a $0.18 one-time pension curtailment gain. Operating margins dropped to 9.8% from 11.0% in the previous year. The company forecasts full-year sales of $2.84 billion and diluted EPS of $5.00. The Aircraft Controls segment suffered a 11% revenue drop, while the Space and Defense segment grew by 7%. Consolidated backlog reached $1.9 billion, a 5% increase.