Moog Q2 Results Beat Street View

Moog Inc (NYSE: MOG-A) reported second-quarter sales growth of 4.7% year-over-year to $770.79 million, beating the consensus of $758.21 million.
Adjusted EPS improved to $1.49 (+12% Y/Y), beating the consensus of $1.28.
Segment sales: Aircraft Controls $311.3 million (+2% Y/Y), Space & Defense Controls $223.3 million (+8% Y/Y), and Industrial Systems $235.2 million (+5% Y/Y).
The gross margin expanded by 50 bps to 27.6%. Adjusted operating profit was $82 million (+13% Y/Y), and the margin expanded by 80 bps to 10.6%.
Moog’s net cash provided by operating activities YTD was $180.18 million, compared to $137.36 million a year ago.
The consolidated 12-month backlog was $2.3 billion, up 17% Y/Y.
Dividend: Moog declared a quarterly dividend of $0.26 per share of Class A common stock and Class B common stock, payable on May 31, 2022, to all shareholders of record on May 13, 2022.
FY22 Outlook: Moog expects sales of ~$3 billion, operating margins of 10.0%, and adjusted operating margins of 10.3%.
It expects GAAP EPS of $5.24 (prior guidance of $5.83) and adjusted EPS of $5.50, both plus or minus $0.20.
Moog sees cash flow from operating activities of $328 million and adjusted cash flow from operating activities of $228 million.
Price Action: MOG.A shares are trading lower by 2.92% at $82.26 on the last check Friday.

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