Moog Inc. reported record net sales of $1.049 billion for its fiscal fourth quarter, a 14% year‑over‑year increase that lifted adjusted operating margin to 13.7%, up 20 basis points from the prior year. Adjusted earnings per share reached $2.56, beating the consensus estimate of $2.22 and surpassing the $1.31 year‑ago figure. Free cash flow hit a record $199 million, up 83% from $109 million in the same quarter a year earlier.
The sales surge was driven by robust demand across Moog’s core aerospace and defense portfolio. The Space & Defense, Military Aircraft, and Commercial Aircraft segments all posted record revenue, supported by the MV‑75 program and incremental pricing. Margin expansion stemmed from lower simplification charges, pricing initiatives, and a favorable sales mix that offset modest tariff impacts of roughly 80 basis points expected in fiscal 2026.
Moog’s backlog reached a record $3.0 billion, reflecting sustained customer demand and a pipeline that supports the company’s growth trajectory. The company’s free‑cash‑flow generation was further bolstered by customer advances, as highlighted by CFO Jennifer Walter in the earnings presentation.
Management guided fiscal 2026 with net sales of about $4.2 billion, earnings per share of $10, and a free‑cash‑flow conversion rate near 60%. CEO Pat Roche emphasized that the quarter “capped an outstanding year of delivering for our customers and driving continuous operational improvements,” underscoring confidence in the company’s strategy and execution. The guidance signals strong confidence in continued demand, while the company remains mindful of tariff headwinds that could erode margins in the coming year.
The results demonstrate Moog’s ability to combine operational discipline with pricing power in a high‑margin, high‑technology business. Record sales, margin expansion, and free‑cash‑flow growth reinforce the company’s competitive position in the aerospace and defense market, while the guidance reflects a bullish outlook that balances optimism with awareness of external cost pressures.
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