MOOG Inc.

04/24/2026 | Press release | Distributed by Public on 04/24/2026 09:08

Quarterly Report for Quarter Ending March 28, 2026 (Form 10-Q)

Management's Discussion and Analysis of Financial Condition and Results of Operations.
The following should be read in conjunction with Management's Discussion and Analysis of Financial Condition and Results of Operations contained in the Company's Annual Report filed on Form 10-K for the fiscal year ended September 27, 2025. In addition, the following should be read in conjunction with our Consolidated Financial Statements and Notes to Consolidated Financial Statements contained herein. All references to years in this Management's Discussion and Analysis of Financial Condition and Results of Operations are to fiscal years. Amounts may differ due to rounding as dollar and percentage variances are computed based on reported values.
OVERVIEW
We are a worldwide designer, manufacturer and systems integrator of high performance precision motion and fluid control and control systems for a broad range of applications. We primarily operate in the aerospace and defense market, and also operate in the industrial and medical markets.
Within the aerospace and defense market, our products and systems include:
•Defense market - primary and secondary flight controls and components for military aircraft, tactical and strategic missile steering controls, defense ground vehicle systems including turreted weapon systems and various other defense components.
•Commercial aircraft market - primary and secondary flight controls and components for commercial aircraft.
•Space market - satellite avionics, propulsion and positioning controls and components, launcher thrust vector controls and components, as well as integrated space vehicles.
Outside of the aerospace and defense market, our products and systems in the industrial and medical markets span a wide range of applications including:
•Industrial market - various components and systems used in applications including: heavy industrial machinery used for metal forming and pressing, flight simulation motion control systems, energy exploration and generation products, material and automotive structural and fatigue testing systems, as well as liquid cooling pumps used in data centers.
•Medical market - pumps and sets for enteral clinical nutrition and infusion therapy, slip rings used in CT scan medical equipment and various components used in ultrasonic sensors and surgical handpieces.
We operate under four segments, Space and Defense, Military Aircraft, Commercial Aircraft and Industrial. Our principal manufacturing facilities are located in the United States, Philippines, United Kingdom, Germany, Italy, Costa Rica, China, Netherlands, Japan, Canada, India and Lithuania.
Under ASC 606, 65% of revenue was recognized over time for the three months ended March 28, 2026, using the cost-to-cost method of accounting. The over-time method of revenue recognition is predominantly used in Space and Defense, Military Aircraft and Commercial Aircraft. We use this method for U.S. Government contracts and repair and overhaul arrangements as we are creating or enhancing assets that the customer controls. In addition, many of our large commercial contracts qualify for over-time accounting as our performance does not create an asset with an alternative use and we have an enforceable right to payment for performance completed to date.
For the three months ended March 28, 2026, 35% of revenue was recognized at the point in time control transferred to the customer. This method of revenue recognition is used most frequently in Industrial. We use this method for commercial contracts in which the asset being created has an alternative use. We determine the point in time control transfers to the customer by weighing the five indicators provided by ASC 606. When control has transferred to the customer, profit is generated as cost of sales is recorded and as revenue is recognized.
Our products and technologies affect millions of people worldwide. Our solutions preserve national security, ensure safe air transportation, reduce industrial factory emissions and enhance patients' lives, while driving innovation. Moog engineers collaboratively design and manufacture the most advanced motion control products, to the highest quality standards, for use in demanding applications. By building on these core foundational capabilities, we believe we have achieved a leadership position in the high-performance, precision controls market, and are "Shaping the way our world moves™".
We leverage our engineering expertise and close customer relationships to solve complex technical problems. This approach has allowed us to expand, organically and through acquisitions, our high-performance components business to also offer the design, manufacture and integration of high-performance systems across multiple markets. We continue to expand our content on existing platforms as well, seeking to be the leading precision motion-controls supplier across the niche markets we serve. We are also modernizing operations through productivity-enhancing technologies and targeted talent development to strengthen operational performance.
Our long-term strategies to achieve our financial objectives focus on pricing and simplification initiatives. Our pricing strategy seeks recognition for the value we deliver to our customers across our markets. Our simplification initiatives, guided by 80/20 principles, include:
•shaping our product and business portfolio to invest in growth areas and to divest non-core assets,
•rationalizing our global footprint to meet current and future business volumes,
•focusing our factories to meet the specific needs of each market, and
•investing in automation and technologies to improve operational efficiency.
We aim to improve shareholder value through strategic revenue growth, both organic and acquired, manufacturing and operating efficiencies and utilizing low-cost manufacturing facilities without compromising quality. Historically and over the long-term, our capital deployment strategy has balanced strategic acquisitions, share buybacks and dividend payments to maximize shareholder returns. In the near term, our capital deployment prioritizes organic growth while opportunistically pursuing acquisitions that complement our business.
Acquisitions and Assets Held for Sale
See Note 3 - Acquisitions and Assets Held for Sale in the Consolidated Financial Statements included in Item 1, Financial Statements of this report for details.
CRITICAL ACCOUNTING POLICIES
On a regular basis, we evaluate the critical accounting policies used to prepare our consolidated financial statements, including revenue recognition on long-term contracts, contract reserves, reserves for inventory valuation and income taxes.
RECENT ACCOUNTING PRONOUNCEMENTS
See Note 1 - Basis of Presentation in the Consolidated Financial Statements included in Item 1, Financial Statements of this report for further information regarding Financial Accounting Standards Board issued ASUs.
CONSOLIDATED RESULTS OF OPERATIONS
Three Months Ended
Six Months Ended
(In millions, except per share data) March 28, 2026 March 29, 2025 $ Variance % Variance March 28, 2026 March 29, 2025 $ Variance % Variance
Net sales $ 1,052 $ 934 $ 118 13 % $ 2,152 $ 1,842 $ 310 17 %
Gross margin 27.3 % 27.5 % 27.0 % 27.2 %
Research and development expenses 27 24 2 9 % 51 48 3 7 %
Selling, general and administrative expenses as a percentage of sales 13.0 % 14.3 % 13.3 % 14.2 %
Interest expense 16 20 (4) (21 %) 33 36 (3) (9 %)
Restructuring expense 2 2 (1) 3 6 (3)
Other (1) 4 (5) (1) 3 (4)
Effective tax rate 24.8 % 24.2 % 23.5 % 23.5 %
Net earnings $ 82 $ 55 $ 27 50 % $ 161 $ 112 $ 49 43 %
Diluted earnings per share $ 2.55 $ 1.71 $ 0.84 49 % $ 5.01 $ 3.49 $ 1.52 44 %
Twelve-month backlog $ 3,310 $ 2,490 $ 820 33 %
Net sales increased across all our segments in the second quarter and in the first half of 2026 compared to the second quarter and the first half of 2025.
Gross margin decreased in the second quarter and first half of 2026 compared to the second quarter and first half of 2025, driven by higher tariffs across all our segments, particularly in Commercial Aircraft, partially offset by profitable sales growth in Space and Defense.
Research and development expenses increased in the second quarter and first half of 2026 compared to the second quarter and first half of 2025, driven by activities supporting our current and future growth programs in Space and Defense.
Selling, general and administrative expenses as a percentage of sales decreased in the second quarter and first half of 2026 compared to the second quarter and first half of 2025, reflecting the incremental benefit from higher sales volume.
Interest expense decreased in the second quarter and first half of 2026 compared to the second quarter and first half of 2025, driven by lower outstanding debt balances and lower interest rates.
In the second quarter and first half of 2026 and in the second quarter and first half of 2025, restructuring charges included charges for various simplification activities, primarily within Industrial and Space and Defense.
The effective tax rate was higher in the second quarter of 2026 compared to the second quarter of 2025, driven by recently enacted legislation. The effective tax rate was unchanged in the first half of 2026 compared to the first half of 2025, as discrete items, primarily related to equity-based compensation, offset by the recently enacted legislation.
The twelve-month backlog as of March 28, 2026 increased as compared with the twelve-month backlog as of March 29, 2025. Military Aircraft's twelve-month backlog increased due to higher orders for new and current aircraft. Within Commercial Aircraft, we had higher orders for narrowbody and widebody OEM programs. Within Space and Defense, we had higher orders across the entire portfolio of the business, reflecting strong business capture and broad-based growth in both defense and space markets. Industrial's twelve-month backlog increased primarily due to higher demand for liquid cooling pumps used in data centers.
SEGMENT RESULTS OF OPERATIONS
Operating profit, as presented below, is net sales less cost of sales and other operating expenses, excluding interest expense, equity-based compensation expense, non-service pension expense and other corporate expenses. Cost of sales and other operating expenses are directly identifiable to the respective segment or allocated on the basis of sales, headcount or profit. Operating profit is reconciled to earnings before income taxes in Note 18 - Segments in the Notes to Consolidated Financial Statements included in this report.
Space and Defense
Three Months Ended Six Months Ended
(dollars in millions) March 28, 2026 March 29, 2025 $
Variance 		%
Variance 		March 28, 2026 March 29, 2025 $
Variance 		%
Variance
Net sales $ 314 $ 270 $ 43 16 % $ 638 $ 518 $ 120 23 %
Operating profit $ 43 $ 33 $ 10 32 % $ 86 $ 62 $ 24 40 %
Operating margin 13.8 % 12.1 % 13.5 % 11.9 %
Space and Defense net sales increased in the second quarter and first half of 2026 compared to the second quarter and first half of 2025, reflecting broad-based defense demand. Demand was particularly strong for space vehicles and missile controls.
Operating margin increased in the second quarter and first half of 2026 compared to the second quarter and first half of 2025, driven by profitable sales growth. This was partially offset by increased costs for business capture, product development and operational readiness.
Military Aircraft
Three Months Ended Six Months Ended
(dollars in millions) March 28, 2026 March 29, 2025 $
Variance 		%
Variance 		March 28, 2026 March 29, 2025 $
Variance 		%
Variance
Net sales $ 235 $ 214 $ 22 10 % $ 483 $ 427 $ 56 13 %
Operating profit $ 32 $ 24 $ 9 36 % $ 60 $ 47 $ 13 28 %
Operating margin 13.7 % 11.1 % 12.5 % 11.1 %
Military Aircraft net sales increased in the second quarter and first half of 2026 compared to the second quarter and first half of 2025.
In the second quarter of 2026 compared to the second quarter of 2025, military OEM sales increased $18 million, driven by higher activity on the MV-75 program. Military aftermarket sales increased $3 million.
In the first half of 2026 compared to the first half of 2025, military OEM sales increased $30 million, driven by higher activity on the MV-75 program. Military aftermarket sales increased $26 million, driven by a significant V-22 spares order in the first quarter of 2026.
Operating margin increased in the second quarter and first half of 2026 compared to the second quarter and first half of 2025, driven by profitable sales growth.
Commercial Aircraft
Three Months Ended Six Months Ended
(dollars in millions) March 28, 2026 March 29, 2025 $
Variance 		%
Variance 		March 28, 2026 March 29, 2025 $
Variance 		%
Variance
Net sales $ 247 $ 216 $ 31 15 % $ 515 $ 434 $ 81 19 %
Operating profit $ 29 $ 25 $ 4 16 % $ 58 $ 51 $ 7 13 %
Operating margin 11.9 % 11.8 % 11.2 % 11.8 %
Commercial Aircraft net sales increased in the second quarter and first half of 2026 compared to the second quarter and first half of 2025.
In the second quarter of 2026 compared to the second quarter of 2025, commercial OEM sales increased $28 million, driven by increased volume and pricing on certain production programs. Commercial aftermarket sales increased $3 million.
In the first half of 2026 compared to the first half of 2025, commercial OEM sales increased $57 million, driven by increased volume and pricing on certain production programs. Commercial aftermarket sales increased $23 million, driven by the timing of repair volumes in the first quarter of 2026.
Operating margin increased in the second quarter of 2026 compared to the second quarter of 2025. The increase was driven by pricing benefits, which were partially offset by tariff pressure.
Operating margin decreased in the first half of 2026 compared to the first half of 2025. The decrease was driven by tariff pressure, which was partially mitigated by pricing benefits.
Industrial
Three Months Ended Six Months Ended
(dollars in millions) March 28, 2026 March 29, 2025 $
Variance 		%
Variance 		March 28, 2026 March 29, 2025 $
Variance 		%
Variance
Net sales $ 256 $ 234 $ 21 9 % $ 517 $ 463 $ 54 12 %
Operating profit $ 33 $ 27 $ 6 21 % $ 69 $ 53 $ 17 31 %
Operating margin 12.9 % 11.6 % 13.4 % 11.4 %
Industrial net sales increased in the second quarter and first half of 2026 compared to the second quarter and first half of 2025, driven by strong demand for data center cooling pumps and other industrial automation products, as well as a favorable impact of foreign currency translation.
Operating margin increased in the second quarter and first half of 2026 compared to the second quarter and first half of 2025, driven by lower charges related to simplification initiatives and the benefits from business optimization, partially offset by tariff pressure.
LIQUIDITY AND CAPITAL RESOURCES
Consolidated Statements of Cash Flows
Six Months Ended
(dollars in millions) March 28,
2026 		March 29,
2025 		$
Variance
Net cash provided (used) by:
Operating activities $ 85 $ (93) $ 178
Investing activities (64) (59) (5)
Financing activities 225 152 72
Operating activities
Net cash provided by operating activities was $85 million in the first half of 2026. Net cash used by operating activities was $93 million in the first half of 2025. The year-over-year improvement was primarily driven by higher net earnings and increased customer advances on multiple Commercial Aircraft, Military Aircraft and Space and Defense programs. Also, reduced estimated tax payments related to research and development expense capitalization rules and lower inventory usage drove the year-over-year improvement. Inventory decreased in Commercial Aircraft primarily due to delayed material receipts during the first half of 2026.
Investing activities
Net cash used by investing activities in the first half of 2026 included capital expenditures of $66 million.
Net cash used by investing activities in the first half of 2025 included $70 million of capital expenditures and $13 million of proceeds from the sales of businesses.
Financing activities
Net cash provided by financing activities in the first half of 2026 included $297 million of net borrowings on our credit facilities. This includes the issuance of $500 million of 5.5% senior notes. We also amended our $1.1 billion revolving credit facility and our $250 million term loan, extending the maturities of each out to five years. In addition, we made dividend payments of $19 million.
Net cash provided by financing activities in the first half of 2025 included $291 million of net borrowings on our credit facilities. Financing activities also included $100 million for shares under the authorized repurchase program and $18 million of cash dividends.
General
Cash flows from our operations, together with our various financing arrangements, fund on-going activities, debt service requirements, organic growth, acquisition opportunities and the ability to return capital to shareholders. We believe these sources of funding will be sufficient to meet our cash requirements for the next 12 months and for the foreseeable future thereafter.
At March 28, 2026, our cash balances were $308 million, the majority of which is held in the U.S. We regularly assess our cash needs, including repatriation of foreign earnings which may be subject to regulatory approvals and withholding taxes, where applicable by law. On April 3, 2026, we redeemed in full all $500 million aggregate principal amount of our outstanding 4.25% senior notes, due 2027, at a redemption price equal to 100.00%. See Note 9 - Indebtedness for additional details.
Financing Arrangements
In addition to operations, our capital resources include bank credit facilities and an accounts receivable financing program to fund our short and long-term capital requirements. We continuously evaluate various forms of financing to improve our liquidity and position ourselves for future opportunities, which, from time to time, may result in selling debt and equity securities to fund acquisitions or take advantage of favorable market conditions.
We are generally not required to obtain the consent of lenders of the Credit Facility before raising significant additional debt financing; however, certain limitations and conditions may apply that would require consent to be obtained. We have demonstrated our ability to secure consents to access debt markets. We have also been successful in accessing equity markets from time to time. We believe that we will be able to obtain additional debt or equity financing as needed.
In the normal course of business, we are exposed to interest rate risk from our long-term debt. To manage these risks, we may enter into derivative instruments such as interest rate swaps which are used to adjust the proportion of total debt that is subject to variable and fixed interest rates.
On February 26, 2026, we entered into the Eighth Amended and Restated Loan Agreement (the "Credit Facility"), which amended and restated our prior credit agreement and, among other things, extended the maturity date of our revolving loan from October 27, 2027 to February 26, 2031. The revolving loan has aggregate commitments of $1.1 billion. The agreement also permits us to request incremental revolving commitments and/or one or more incremental term loan facilities in an aggregate amount of up to $400 million, upon satisfaction of certain conditions. The weighted-average interest rate on the outstanding revolving loan borrowings is based on SOFR plus the applicable margin, which was 1.25% at March 28, 2026. There were no outstanding borrowings as of March 28, 2026. The agreement also includes a $250 million term loan maturing on February 26, 2031. The term loan amortizes in quarterly installments of $5 million in 2027, $6 million in 2028, $11 million in 2029, $9 million in 2030, $6 million in 2031 and the remaining balance on the maturity date of February 26, 2031. The interest rate on the term loan borrowings was 4.93% and is based on SOFR plus the applicable margin, which was 1.25% at March 28, 2026. As of March 28, 2026, we were in compliance with all covenants.
The agreement for the revolving loan and term loan contains various covenants. The minimum for the interest coverage ratio, defined as the ratio of EBITDA to interest expense for the most recent four quarters, is 3.0. The maximum for the leverage ratio, defined as the ratio of net debt to EBITDA for the most recent four quarters, is 4.0. EBITDA is defined in the loan agreement as (i) the sum of net income, interest expense, income taxes, depreciation expense, amortization expense, other non-cash items reducing consolidated net income, non-cash equity-based compensation expenses, unusual or extraordinary non-recurring cash expenses and other synergies related to transactions minus (ii) other non-cash items increasing consolidated net income.
The SECT has a revolving loan with a borrowing capacity of $25 million, maturing on April 24, 2027. Interest was 5.91% as of March 28, 2026 and is based on SOFR plus a margin of 2.23%.
On March 24, 2026, we completed the sale of $500 million aggregate principal amount of 5.50% senior notes due October 15, 2034. Interest on the senior notes is payable semiannually on April 15 and October 15 of each year, beginning on October 15, 2026. The senior notes are senior unsecured obligations and are guaranteed on a senior unsecured basis by certain subsidiaries that are guarantors under the indenture. The indenture governing the senior notes contains certain restrictive covenants that, subject to important exceptions and limitations, limit our ability and the ability of certain of our subsidiaries to incur certain liens, enter into certain sale and leaseback transactions and consolidate, merge or sell substantially all of our assets. As of March 28, 2026, we were in compliance with all covenants under the indenture.
On March 4, 2026, we issued a notice of redemption to holders of our 4.25% senior notes due on December 15, 2027, to redeem and retire all of the outstanding notes. The notes were redeemed on April 3, 2026 at a redemption price equal to 100.00% of the principal amount thereof, plus accrued and unpaid interest to, but not including, the redemption date, pursuant to an early redemption right. We redeemed the $500 million aggregate principal amount of the notes using net proceeds available from the issuance of the 5.50% senior notes, together with cash on hand.
At March 28, 2026, we had $1.1 billion of unused capacity, including $1.1 billion from the revolving loan after considering standby letters of credit and other limitations.
Our Receivables Purchase Agreement, which matures on February 20, 2028, allows the Receivables Subsidiary to sell receivables to the Purchasers in amounts up to a $125 million limit so long as certain conditions are satisfied. The receivables are sold to the Purchasers in consideration for the Purchasers making payments of cash. Each Purchaser's share of capital accrues yield at a variable rate plus an applicable margin, which totaled 4.67% as of March 28, 2026.
We are in compliance with all covenants under each of our financing arrangements. See Note 4 - Receivables and Note 9 - Indebtedness.
Dividends and Common Stock
We believe we can create long term value for our shareholders by continuing to invest in our business through both capital expenditures as well as investments in new market opportunities. We will also continue exploring opportunities to make strategic acquisitions and return capital to shareholders.
We are currently paying quarterly cash dividends on our Class A and Class B common stock and expect to continue to do so for the foreseeable future. See the Consolidated Statement of Shareholders' Equity and Cash Flows, of Part I, Item 1, Financial Information, of this report for additional details.
The Board of Directors authorized a share repurchase program that permits repurchases for both Class A and Class B common stock, and allows us to buy up to an aggregate 3 million common shares. There are approximately 1.7 million common shares remaining under this authorization. See the Consolidated Statement of Shareholders' Equity and Cash Flows, of Part I, Item 1, Financial Information and Part II, Item 2, Unregistered Sales of Equity Securities and Use of Proceeds, of this report for additional details.
Off Balance Sheet Arrangements
We do not have any material off balance sheet arrangements that have or are reasonably likely to have a material future effect on our financial condition, results of operations or cash flows.
Contractual Obligations and Commercial Commitments
Our contractual obligations and commercial commitments have not changed materially from the disclosures in our Annual Report on Form 10-K for the year ended September 27, 2025. See Note 7 - Leases, Note 9 - Indebtedness, Note 13 - Employee Benefit Plans and Note 20 - Commitments and Contingencies, of Part I, Item 1, Financial Information, of this report for additional details.
ECONOMIC CONDITIONS AND MARKET TRENDS
We operate primarily within the aerospace and defense market and also in the industrial and medical markets. A common factor throughout our markets is the continuing demand for technologically advanced products.
Our aerospace and defense businesses currently represent 76% of our 2026 sales. Our defense market, which currently represents 52% of our 2026 sales, is directly affected by defense funding levels and product demand, which have recently increased. Our commercial aircraft market, which currently represents 24% of our 2026 sales, aligns with our customers' plans. Within our various industrial markets, which collectively represented 24% of our 2026 sales, our customers are affected by a broad range of factors.
Aerospace and Defense
Within aerospace and defense, we serve three end markets: defense, commercial aircraft and space.
The defense market is dependent on military spending for development and production programs. We have a growing development program order book for future generation aircraft and turret programs, and we strive to embed our technologies within these high-performance military programs of the future, including the Textron Bell MV-75. Aircraft production programs are typically long-term in nature, offering predictable capacity needs and future revenues. We maintain positions on numerous high priority programs, including the Lockheed Martin F-35 Lightning II. The large installed base of our products leads to attractive aftermarket sales and service opportunities. The tactical and strategic missile, missile defense and defense vehicle controls markets are dependent on many of the same market conditions as military aircraft, including overall military spending and program funding levels. At times when there are perceived threats to national security, U.S. and European defense spending can increase; at other times, defense spending can decrease. Future levels of defense spending have increased in the near-term given the current global tensions, and are subject to governmental approvals.
The commercial OEM aircraft market depends on a number of factors, including both the increasing global demand for air travel and increasing fuel prices. Both factors contributed to the demand for new, more fuel-efficient aircraft with lower operating costs that led to large production backlogs for Boeing and Airbus. Boeing and Airbus are producing widebody aircraft at rates to support their projected demand while working through their current supply-chain constraints. Any adjustments to their production rates affect the timing of the demand for our flight control systems.
The commercial aftermarket is driven by usage and the age of the existing aircraft fleet for passenger and cargo aircraft, which drives the need for maintenance and repairs. We have seen higher demand levels for our maintenance services and spare parts due to the increased number of flight hours across existing fleets.
The space market is comprised of three customer markets: civil, U.S. defense and commercial space. The civil market, namely NASA, is driven by investment for exploration activities. The U.S. defense market is driven by government-authorized levels of defense spending, including funding for defense-related satellite and space vehicle technologies. Levels of U.S. defense spending could increase as there is growing emphasis on space as the next frontier of potential future conflicts. The commercial space market is driven by demand for small satellites, which increases the demand for increased launch vehicle capacity. Our launch vehicle and satellite components and systems will continue to benefit from increased investments in each of these markets.
Industrial
The industrial market consists of industrial automation products, simulation and test products and energy generation and exploration products.
The industrial market we serve with our industrial automation products is influenced by several factors including capital investment levels, the pace of product and technology innovation, economic conditions and cost-reduction efforts. A portion of our industrial automation customers serve the automotive market as well as the data center cooling market.
Our simulation and test market mainly includes flight simulation products which are largely affected by the same factors as our commercial aircraft market. Demand for our flight simulation systems will match the airline training market and the change in domestic and foreign flight hours.
Our energy generation and exploration products operate in a market that is influenced by changing oil and natural gas prices, global urbanization and the resulting change in supply and demand for global energy. Drivers for global energy growth include investments in power generation infrastructure and exploration of new oil and gas resources.
Medical
The medical market consists of medical devices and medical component products. The medical market we serve, in general, is influenced by economic conditions, regulatory environments, hospital and outpatient clinic spending on equipment, population demographics, medical advances, patient demands and the need for precision control components and systems. Advances in medical technology and treatments have resulted in the greater need for medical services, which drive the demand for our medical devices and medical component offerings.
Foreign Currencies
We are affected by the movement of foreign currencies compared to the U.S. dollar. About one-sixth of our 2025 sales were denominated in foreign currencies. During the first six months of 2026, average foreign currency rates generally strengthened against the U.S. dollar to the comparable 2025 period. The translation of the results of our foreign subsidiaries into U.S. dollars increased sales by $23 million compared to the same period one year ago.
Cautionary Statement
Information included or incorporated by reference in this report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which can be identified by words such as: "may," "will," "should," "believes," "expects," "expected," "intends," "plans," "projects," "approximate," "estimates," "predicts," "potential," "outlook," "forecast," "anticipates," "presume," "assume" and other words and terms of similar meaning (including their negative counterparts or other various or comparable terminology). These forward-looking statements are made pursuant to the Private Securities Litigation Reform Act of 1995, are neither historical facts nor guarantees of future performance and are subject to several factors, risks and uncertainties, the impact or occurrence of which could cause actual results to differ materially from the expected results described in the forward-looking statements.
Although it is not possible to create a comprehensive list of all factors that may cause our actual results to differ from the results expressed or implied by our forward-looking statements or that may affect our future results, some of these factors and other risks and uncertainties are described in Item 1A "Risk Factors" of our Annual Report on Form 10-K and in our other periodic filings with the Securities and Exchange Commission ("SEC") and include, but are not limited to, risks relating to: (i) our operation in highly competitive markets with competitors who may have greater resources than we possess; (ii) our operation in cyclical markets that are sensitive to domestic and foreign economic conditions and events; (iii) current and future geopolitical conditions and events, including wars, armed conflicts, sanctions, trade restrictions and related disruptions to global markets and supply chains; (iv) our heavy dependence on government contracts that may not be fully funded, delayed or terminated; (v) our ability to remediate the material weakness in internal control over financial reporting and maintain effective disclosure controls and procedures; (vi) supply chain constraints and inflationary impacts on prices for raw materials and components used in our products; (vii) failure of our subcontractors or suppliers to perform their contractual obligations; (viii) risks related to information systems interruptions, intrusions, cybersecurity threats or new software implementations; and (ix) our accounting estimates for over-time contracts and any changes we may need to make thereto. You should evaluate all forward-looking statements made in this press release in the context of these risks and uncertainties.
While we believe we have identified and discussed in our SEC filings the material risks affecting our business, there may be additional factors, risks and uncertainties not currently known to us or that we currently consider immaterial that may affect the forward-looking statements we make herein. Given these factors, risks and uncertainties, investors should not place undue reliance on forward-looking statements as predictive of future results. Any forward-looking statement speaks only as of the date on which it is made, and we disclaim any obligation to update any forward-looking statement made in this report, except as required by applicable law.
MOOG Inc. published this content on April 24, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on April 24, 2026 at 15:09 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]