8-K
MOOG INC. (MOG-A)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
November 21, 2025
Date of Report (date of earliest event reported)
MOOG Inc.
(Exact name of registrant as specified in its charter)
| NY | 1-05129 | 16-0757636 | |
|---|---|---|---|
| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | |
| 400 Jamison Rd | East Aurora, | New York | 14052-0018 |
| (Address of Principal Executive Offices) | (Zip Code) |
(716) 652-2000
(Registrant's telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Class A common stock | MOG.A | New York Stock Exchange |
| Class B common stock | MOG.B | New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
o
| Item 2.02 | Results of Operations and Financial Condition |
|---|
On November 21, 2025, Moog Inc. (the “Company”) issued a press release discussing results of operations for the quarter and year ended September 27, 2025. A copy of the press release is included as exhibit 99.1 of this report.
The information in this report is being furnished pursuant to Item 2.02 of Form 8-K and shall not be deemed to be “filed” for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise be subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Exchange Act or the Securities Act of 1933, as amended, except as expressly stated by specific reference in such a filing.
| Item 8.01 | Other Events |
|---|
On November 21, 2025, the Company issued a press release announcing that the Company’s Board of Directors declared a quarterly dividend of $0.29 per share on the Company's issued and outstanding shares of Class A common stock and Class B common stock. The dividend will be paid on December 17, 2025 to all shareholders of record as of the close of business on December 8, 2025. A copy of the press release is included as Exhibit 99.2 of this report.
| Item 9.01 | Financial Statements and Exhibits |
|---|
(d)Exhibits.
| 99.1 | Press release dated November 21, 2025, announcing Moog Inc.’s results of operations for the quarter and year ended September 27, 2025. |
|---|---|
| 99.2 | Press release dated November 21, 2025, announcing cash dividend. |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| MOOG INC. | |||
|---|---|---|---|
| Dated: | November 21, 2025 | By: | /s/ Nicholas Hart |
| Name: | Nicholas Hart | ||
| Controller |
Document
| Release Date: | November 21, 2025 |
|---|---|
| IMMEDIATE |
Moog Inc. Reports Record Fourth Quarter 2025 Sales, Adjusted Operating Margin and Free Cash Flow; Issues Strong Fiscal 2026 Guidance
East Aurora, NY -- Moog Inc. (NYSE: MOG.A and MOG.B), a worldwide designer, manufacturer and systems integrator of high-performance precision motion and fluid controls and control systems, today reported record fiscal fourth quarter 2025 results and another year of outstanding performance. The results highlight continued progress against the company’s long-term financial objectives.
“We finished fiscal 2025 with an exceptional fourth quarter performance, achieving record financial results,” said Pat Roche, CEO. “This performance capped an outstanding year of delivering for our customers and driving continuous operational improvements. The momentum reflects our strategy in action across the business, and positions us to deliver continued value creation."
| (in millions, except per share results) | Three Months Ended | Twelve Months Ended | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Q4 2025 | Q4 2024(1) | Deltas | Q4 2025 | Q4 2024(1) | Deltas | |||||||||||
| Net sales | $ | 1,049 | $ | 919 | 14% | $ | 3,861 | $ | 3,609 | 7% | ||||||
| Operating margin | 11.9 | % | 10.1 | % | 180 bps | 11.6 | % | 11.2 | % | 40 bps | ||||||
| Adjusted operating margin | 13.7 | % | 13.5 | % | 20 bps | 13.0 | % | 12.7 | % | 30 bps | ||||||
| Diluted net earnings per share | $ | 2.01 | $ | 1.31 | 53% | $ | 7.33 | $ | 6.45 | 14% | ||||||
| Adjusted diluted net earnings per share | $ | 2.56 | $ | 2.15 | 19% | $ | 8.69 | $ | 7.84 | 11% | ||||||
| Net cash provided (used) by operating activities | $ | 241 | $ | 147 | $ | 93 | $ | 273 | $ | 198 | $ | 75 | ||||
| Free cash flow | $ | 199 | $ | 109 | $ | 90 | $ | 128 | $ | 21 | $ | 107 | ||||
| See the reconciliations of adjusted financial measures to the most directly comparable U.S. GAAP measures included in the financial statements herein for the periods ended September 27, 2025, and September 28, 2024.<br><br>(1) Amounts have been revised to reflect the correction of immaterial misstatements. See "Revision of Previously Issued Consolidated Financial Statements" section included herein for additional information. |
Quarter Highlights
•Quarterly records set for sales, adjusted operating margin, both earnings per share figures and free cash flow.
•Sales increased to over $1 billion, driven by record sales in each of the Space and Defense, Military Aircraft and Commercial Aircraft segments.
•Operating margin improved, reflecting stronger financial performance and lower simplification charges.
•Adjusted operating margin expanded, driven by operational strength, partially offset by tariff pressure.
•Diluted net earnings per share increased, benefiting from incremental profit from higher sales and lower simplification charges.
•Adjusted diluted net earnings per share increased, benefiting from incremental profit from higher sales.
•Record free cash flow driven by customer advances.
Year Highlights
•Record net sales reflect higher demand across the aerospace and defense portfolio.
•Twelve-month backlog increased 20%, reaching a record $3.0 billion.
•Operating margin and adjusted operating margin improved, both driven by stronger financial performance, partially offset by tariffs and last year's benefit from the Employee Retention Credit (ERC).
•Diluted net earnings per share and adjusted diluted net earnings per share increased, both driven by incremental profit from higher sales and expanded operating margin.
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Quarter Results
Sales in the fourth quarter of 2025 increased in all of the segments compared to the fourth quarter of 2024, driven by records in Commercial Aircraft, Space and Defense and Military Aircraft. Commercial Aircraft sales increased 27% to $252 million, driven by volume on major production programs and aftermarket associated with strong fleet utilization of the 787 and A350 programs. Space and Defense sales increased 17% to $307 million, reflecting broad-based demand across the defense portfolio, including missile controls and satellite components. Military Aircraft sales increased 10% to $236 million, driven by higher activity associated with the MV-75 program and by incremental pricing, primarily within aftermarket. Industrial sales increased 5% to $253 million as demand for medical devices and data center cooling pumps increased.
Operating margin in the fourth quarter of 2025 increased 180 basis points to 11.9% compared to the fourth quarter of 2024, reflecting stronger performance and lower simplification charges. Industrial operating margin increased 860 basis points to 12.7%, reflecting both higher simplification charges incurred in the prior year, and the resulting current year benefits, partially offset by tariff pressure. Military Aircraft operating margin increased 210 basis points to 14.0%, driven by pricing activities as well as a favorable sales mix. Space and Defense operating margin was 10.2%, essentially flat year over year, as profitable sales growth was largely offset by charges associated with the settlement of a legal dispute. Commercial Aircraft operating margin decreased 400 basis points to 11.4%, primarily due to tariff pressure and an unfavorable sales mix.
Adjusted operating margin in the fourth quarter of 2025 increased 20 basis points to 13.7% compared to the fourth quarter of 2024. Military Aircraft adjusted operating margin increased 210 basis points to 14.1%, driven by pricing activities as well as a favorable sales mix. Space and Defense adjusted operating margin increased 190 basis points to 15.1%, driven by profitable sales growth, partially offset by investments in product development, business capture and operational readiness. Industrial adjusted operating margin increased 70 basis points to 13.9%, as a favorable sales mix and simplification initiatives more than offset tariff pressure. Commercial Aircraft adjusted operating margin decreased 440 basis points to 11.4%, primarily due to tariff pressure and an unfavorable sales mix.
Free cash flow for the quarter was a record $199 million, driven by strong cash generation from changes in working capital, in particular cash generated from customer advances. Capital expenditures were $42 million, reflecting continued investment in manufacturing operations.
Year Results
Sales for fiscal 2025 increased 7% compared to fiscal 2024, reflecting record sales in each of the Commercial Aircraft, Space and Defense and Military Aircraft segments. Commercial Aircraft sales increased 15% to $904 million, due to strong aftermarket demand and the ongoing widebody production ramps. Space and Defense sales increased 9% to $1.1 billion, driven by continued broad-based defense demand across the portfolio. Military Aircraft sales increased 9% to $888 million, driven by higher activity for the MV-75 and new production programs. Industrial sales decreased 4% to $956 million, due to divestitures completed at the beginning of the fiscal year.
Operating margin for fiscal 2025 increased 40 basis points to 11.6% compared to fiscal 2024, due to stronger financial performance across all of the segments. The increases were partially offset by tariffs, primarily in Commercial Aircraft and Industrial, and by last year's ERC benefit. Industrial operating margin increased 190 basis points to 11.3%, driven by the benefit of simplification initiatives. Military Aircraft operating margin increased 60 basis points to 11.1%, driven by stronger business performance and pricing benefits, partially offset by the gain from the sale of a mature product line. Space and Defense operating margin decreased 70 basis points to 11.8% due to last year's ERC benefit. Commercial Aircraft operating margin decreased 10 basis points to 12.4%, driven by pressure associated with tariffs, offset by the sale of a non-core product line as part of the portfolio shaping activities.
Record adjusted operating margin for fiscal 2025 increased 30 basis points to 13.0% compared to fiscal 2024, reflecting stronger financial performance across all of the segments. Industrial adjusted operating margin increased 80 basis points to 13.5%, due to the benefit from simplification initiatives, partially offset by tariff pressure. Military Aircraft adjusted operating margin increased 40 basis points to 12.3%, driven by stronger business performance and pricing benefits. Space and Defense adjusted operating margin increased 20 basis points to 13.5%, supported by profitable sales growth, partially offset by last year's ERC benefit and this year's investments to support growth. Commercial Aircraft adjusted operating margin decreased 30 basis points to 12.4%, reflecting tariff pressure, partially offset by a non-core product line sale.
Free cash flow for the year was $128 million, reflecting business investments to support the record level of sales, including capital expenditures and within working capital.
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Fiscal 2026 Financial Guidance
"Fiscal year 2026 will be another great year in which we continue to build our financial strength," said Jennifer Walter, CFO. "We will achieve a record level of sales, further expand our operating margin and make meaningful progress towards generating strong free cash flow."
Operating margin and adjusted operating margin for fiscal 2025 included approximately 50 basis points of tariff pressure. Operating margin and adjusted operating margin for fiscal 2026 is forecasted to include 80 basis points of tariff pressure.
| FY 2025 | |||||
|---|---|---|---|---|---|
| Net sales (in billions) | 4.2 | $ | 3.9 | ||
| Operating margin | % | 11.6 | % | ||
| Adjusted operating margin | % | 13.0 | % | ||
| Diluted net earnings per share(1) | 10.00 | $ | 7.33 | ||
| Adjusted diluted net earnings per share(1) | 10.00 | $ | 8.69 | ||
| Free cash flow conversion | % | 46 | % | ||
| (1) Diluted net earnings per share and Adjusted diluted net earnings per share figures are forecasted to be within range of +/- 0.20. |
All values are in US Dollars.
Conference call information
In conjunction with today’s release, Pat Roche, CEO, and Jennifer Walter, CFO, will host a conference call today beginning at 10:00 a.m. ET, which will be simultaneously broadcast live online. Listeners can access the call and supplemental financial materials at www.moog.com/investors/communications.
Cautionary Statement
This press release 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) our heavy dependence on government contracts that may not be fully funded or may be terminated; (iv) supply chain constraints and inflationary impacts on prices for raw materials and components used in our products; (v) failure of our subcontractors or suppliers to perform their contractual obligations; and (vi) our accounting estimations for over-time contracts and any changes we 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 press release, except as required by applicable law.
Contact: Aaron Astrachan
716.687.4225
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| Moog Inc. | ||||||||
|---|---|---|---|---|---|---|---|---|
| CONSOLIDATED STATEMENTS OF EARNINGS (UNAUDITED) | ||||||||
| (dollars in thousands, except per share data) | ||||||||
| Three Months Ended | Twelve Months Ended | |||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| September 27,<br>2025 | September 28, 2024 (1) | September 27,<br>2025 | September 28, 2024 (1) | |||||
| Net sales | $ | 1,049,138 | $ | 919,395 | $ | 3,860,624 | $ | 3,608,960 |
| Cost of sales | 759,830 | 657,660 | 2,794,802 | 2,589,525 | ||||
| Inventory write-down | 486 | 5,252 | 8,474 | 7,027 | ||||
| Gross profit | 288,822 | 256,483 | 1,057,348 | 1,012,408 | ||||
| Research and development | 23,679 | 26,021 | 93,671 | 112,773 | ||||
| Selling, general and administrative | 152,151 | 126,377 | 553,968 | 501,253 | ||||
| Interest | 18,489 | 17,397 | 72,075 | 66,330 | ||||
| Asset impairment and fair value adjustment | 2,374 | 15,287 | 5,374 | 22,149 | ||||
| Restructuring | 956 | 11,165 | 10,015 | 23,788 | ||||
| Gain on sale of buildings | — | (979) | — | (979) | ||||
| Other | 1,371 | 6,449 | 9,597 | 17,348 | ||||
| Earnings before income taxes | 89,802 | 54,766 | 312,648 | 269,746 | ||||
| Income taxes | 25,396 | 12,232 | 77,620 | 60,960 | ||||
| Net earnings | $ | 64,406 | $ | 42,534 | $ | 235,028 | $ | 208,786 |
| Net earnings per share | ||||||||
| Basic | $ | 2.03 | $ | 1.33 | $ | 7.42 | $ | 6.53 |
| Diluted | $ | 2.01 | $ | 1.31 | $ | 7.33 | $ | 6.45 |
| Weighted average common shares outstanding | ||||||||
| Basic | 31,666,286 | 31,988,662 | 31,680,280 | 31,954,689 | ||||
| Diluted | 32,083,845 | 32,458,411 | 32,082,601 | 32,359,338 | ||||
| (1) Amounts have been revised to reflect the correction of immaterial misstatements. See "Revision of Previously Issued Consolidated Financial Statements" section included herein for additional information. |
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| Moog Inc. | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| RECONCILIATION TO ADJUSTED NET EARNINGS, ADJUSTED DILUTED NET EARNINGS PER SHARE AND ADJUSTED EFFECTIVE TAX RATE (UNAUDITED) | ||||||||||||
| (dollars in thousands) | ||||||||||||
| Three Months Ended | Twelve Months Ended | |||||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| September 27,<br>2025 | September 28, 2024 (1) | September 27,<br>2025 | September 28, 2024 (1) | |||||||||
| Net Earnings as Reported | $ | 64,406 | $ | 42,534 | $ | 235,028 | $ | 208,786 | ||||
| Adjustments to Net Earnings: | ||||||||||||
| Program terminations(2) | (231) | — | 7,834 | 1,992 | ||||||||
| Simplification initiatives(3) | 8,876 | 28,837 | 27,080 | 43,293 | ||||||||
| Dispute resolution(4) | 10,455 | — | 11,917 | — | ||||||||
| Investment losses(5) | — | — | 3,000 | 5,294 | ||||||||
| Acquisition and integration(6) | 2,477 | (487) | 2,958 | (487) | ||||||||
| Other charges(7) | 573 | 2,889 | 2,573 | 3,305 | ||||||||
| Tax effect of adjustments | (4,385) | (4,117) | (11,705) | (8,339) | ||||||||
| Net Earnings as Adjusted | $ | 82,171 | $ | 69,656 | $ | 278,685 | $ | 253,844 | ||||
| Diluted Net Earnings Per Share | ||||||||||||
| As Reported | $ | 2.01 | $ | 1.31 | $ | 7.33 | $ | 6.45 | ||||
| As Adjusted | $ | 2.56 | $ | 2.15 | $ | 8.69 | $ | 7.84 | ||||
| Effective Income Tax Rate | ||||||||||||
| As Reported | 28.3 | % | 22.3 | % | 24.8 | % | 22.6 | % | ||||
| As Adjusted(8) | 24.1 | % | 19.0 | % | 23.5 | % | 21.4 | % | ||||
| The diluted net earnings per share associated with the adjustments in the table above may not reconcile when totaled due to rounding.<br><br>(1) As reported amounts have been revised to reflect the correction of immaterial misstatements. See "Revision of Previously Issued Consolidated Financial Statements" section included herein for additional information.<br><br>(2) Charges include costs related to the termination of significant development, production, or support programs, such as write-off and impairments of inventory and long-lived assets, contract termination costs, and other charges.<br><br>(3) Charges include costs related to footprint rationalization, portfolio shaping and legal entity re-organization activities, such as facility closure costs, employee severance and retention costs, write-off and impairments of inventory and long-lived assets, and other charges.<br><br>(4) Charges include costs related to a dispute with a customer. The circumstances giving rise to this matter are unique and outside the ordinary course of business. These charges consist primarily of third-party legal services and related settlement costs.<br><br>(5) Charges include impairment losses on minority investments.<br><br>(6) Charges include costs related to acquisition such as amortization of inventory fair value step-up and professional services fees. Charges also include costs related to integrating the businesses, such as employee severance and retention costs, professional services fees, legal entity and facility rationalization costs and other related charges.<br><br>(7) Other charges include business interruptions from natural causes, litigation matters, and other items that are not part of normal operations.<br><br>(8) Adjusted effective income tax rate excludes a charge associated with simplifying our legal entity structure. |
While management believes that these adjusted financial measures may be useful in evaluating the financial condition and results of operations of the Company, this information should be considered supplemental and is not a substitute for financial information prepared in accordance with GAAP.
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| Moog Inc. | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| CONSOLIDATED SALES AND OPERATING PROFIT (UNAUDITED) | ||||||||||||
| (dollars in thousands) | ||||||||||||
| Three Months Ended | Twelve Months Ended | |||||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| September 27,<br>2025 | September 28, 2024 (1) | September 27,<br>2025 | September 28, 2024 (1) | |||||||||
| Net sales: | ||||||||||||
| Space and Defense | $ | 307,355 | $ | 262,824 | $ | 1,113,028 | $ | 1,018,148 | ||||
| Military Aircraft | 236,205 | 215,645 | 888,136 | 811,566 | ||||||||
| Commercial Aircraft | 252,171 | 199,242 | 903,879 | 788,100 | ||||||||
| Industrial | 253,407 | 241,684 | 955,581 | 991,146 | ||||||||
| Net sales | $ | 1,049,138 | $ | 919,395 | $ | 3,860,624 | $ | 3,608,960 | ||||
| Operating profit: | ||||||||||||
| Space and Defense | $ | 31,216 | $ | 26,554 | $ | 131,137 | $ | 126,885 | ||||
| 10.2 | % | 10.1 | % | 11.8 | % | 12.5 | % | |||||
| Military Aircraft | 33,086 | 25,606 | 98,757 | 85,503 | ||||||||
| 14.0 | % | 11.9 | % | 11.1 | % | 10.5 | % | |||||
| Commercial Aircraft | 28,654 | 30,729 | 111,793 | 98,877 | ||||||||
| 11.4 | % | 15.4 | % | 12.4 | % | 12.5 | % | |||||
| Industrial | 32,084 | 9,992 | 107,919 | 93,200 | ||||||||
| 12.7 | % | 4.1 | % | 11.3 | % | 9.4 | % | |||||
| Total operating profit | 125,040 | 92,881 | 449,606 | 404,465 | ||||||||
| 11.9 | % | 10.1 | % | 11.6 | % | 11.2 | % | |||||
| Deductions from operating profit: | ||||||||||||
| Interest expense | 18,490 | 17,398 | 72,075 | 66,330 | ||||||||
| Equity-based compensation expense | 4,039 | 3,658 | 16,708 | 14,959 | ||||||||
| Non-service pension expense | 1,864 | 3,119 | 7,719 | 12,685 | ||||||||
| Corporate and other expenses, net | 10,845 | 13,940 | 40,456 | 40,745 | ||||||||
| Earnings before income taxes | $ | 89,802 | $ | 54,766 | $ | 312,648 | $ | 269,746 | ||||
| (1) Amounts have been revised to reflect the correction of immaterial misstatements. See "Revision of Previously Issued Consolidated Financial Statements" section included herein for additional information. |
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| Moog Inc. | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| RECONCILIATION TO ADJUSTED OPERATING PROFIT AND MARGINS (UNAUDITED) | ||||||||||||
| (dollars in thousands) | ||||||||||||
| Three Months Ended | Twelve Months Ended | |||||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| September 27,<br>2025 | September 28, 2024 (1) | September 27,<br>2025 | September 28, 2024 (1) | |||||||||
| Space and Defense operating profit - as reported | $ | 31,216 | $ | 26,554 | $ | 131,137 | $ | 126,885 | ||||
| Simplification initiatives | 2,092 | 6,336 | 4,566 | 6,336 | ||||||||
| Dispute resolution | 10,455 | — | 11,917 | — | ||||||||
| Acquisition integration | 2,477 | — | 2,958 | — | ||||||||
| Other charges | 62 | 1,889 | 62 | 2,305 | ||||||||
| Space and Defense operating profit - as adjusted | $ | 46,302 | $ | 34,779 | $ | 150,640 | $ | 135,526 | ||||
| 15.1 | % | 13.2 | % | 13.5 | % | 13.3 | % | |||||
| Military Aircraft operating profit - as reported | $ | 33,086 | $ | 25,606 | $ | 98,757 | $ | 85,503 | ||||
| Program terminations | (231) | — | 7,834 | 1,992 | ||||||||
| Simplification initiatives | — | 335 | 591 | 4,067 | ||||||||
| Investment losses | — | — | — | 5,294 | ||||||||
| Other charges | 449 | — | 2,449 | — | ||||||||
| Military Aircraft operating profit - as adjusted | $ | 33,304 | $ | 25,941 | $ | 109,631 | $ | 96,856 | ||||
| 14.1 | % | 12.0 | % | 12.3 | % | 11.9 | % | |||||
| Commercial Aircraft operating profit - as reported | $ | 28,654 | $ | 30,729 | $ | 111,793 | $ | 98,877 | ||||
| Simplification initiatives | — | 241 | — | 649 | ||||||||
| Acquisition integration | — | (487) | — | (487) | ||||||||
| Other charges | — | 1,000 | — | 1,000 | ||||||||
| Commercial Aircraft operating profit - as adjusted | $ | 28,654 | $ | 31,483 | $ | 111,793 | $ | 100,039 | ||||
| 11.4 | % | 15.8 | % | 12.4 | % | 12.7 | % | |||||
| Industrial operating profit - as reported | $ | 32,084 | $ | 9,992 | $ | 107,919 | $ | 93,200 | ||||
| Program terminations | — | — | — | — | ||||||||
| Simplification initiatives | 3,084 | 21,925 | 18,223 | 32,241 | ||||||||
| Investment losses | — | — | 3,000 | — | ||||||||
| Other charges | 62 | — | 62 | — | ||||||||
| Industrial operating profit - as adjusted | $ | 35,230 | $ | 31,917 | $ | 129,204 | $ | 125,441 | ||||
| 13.9 | % | 13.2 | % | 13.5 | % | 12.7 | % | |||||
| Total operating profit - as adjusted | $ | 143,490 | $ | 124,120 | $ | 501,268 | $ | 457,862 | ||||
| 13.7 | % | 13.5 | % | 13.0 | % | 12.7 | % | |||||
| (1) As reported amounts have been revised to reflect the correction of immaterial misstatements. See "Revision of Previously Issued Consolidated Financial Statements" section included herein for additional information. |
While management believes that these adjusted financial measures may be useful in evaluating the financial condition and results of operations of the Company, this information should be considered supplemental and is not a substitute for financial information prepared in accordance with GAAP.
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| Moog Inc. | ||||
|---|---|---|---|---|
| CONSOLIDATED BALANCE SHEETS (UNAUDITED) | ||||
| (dollars in thousands) | ||||
| September 27,<br>2025 | September 28, 2024 (1) | |||
| --- | --- | --- | --- | --- |
| ASSETS | ||||
| Current assets | ||||
| Cash and cash equivalents | $ | 62,013 | $ | 61,694 |
| Restricted cash | 200 | 123 | ||
| Receivables, net | 506,768 | 419,971 | ||
| Unbilled receivables | 744,352 | 690,572 | ||
| Inventories, net | 914,302 | 862,541 | ||
| Prepaid expenses and other current assets | 142,345 | 87,745 | ||
| Total current assets | 2,369,980 | 2,122,646 | ||
| Property, plant and equipment, net | 1,019,906 | 928,588 | ||
| Operating lease right-of-use assets | 52,799 | 52,591 | ||
| Goodwill | 842,313 | 833,764 | ||
| Intangible assets, net | 66,101 | 63,479 | ||
| Deferred income taxes | 22,459 | 23,884 | ||
| Other assets | 52,497 | 52,695 | ||
| Total assets | $ | 4,426,055 | $ | 4,077,647 |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||
| Current liabilities | ||||
| Current installments of long-term debt | $ | 1,563 | $ | — |
| Accounts payable | 318,402 | 293,888 | ||
| Accrued compensation | 106,040 | 104,027 | ||
| Contract advances and progress billings | 372,988 | 302,126 | ||
| Accrued liabilities and other | 320,075 | 313,373 | ||
| Total current liabilities | 1,119,068 | 1,013,414 | ||
| Long-term debt, excluding current installments | 944,123 | 874,139 | ||
| Long-term pension and retirement obligations | 157,218 | 167,161 | ||
| Deferred income taxes | 32,600 | 27,652 | ||
| Other long-term liabilities | 180,491 | 166,464 | ||
| Total liabilities | 2,433,500 | 2,248,830 | ||
| Shareholders’ equity | ||||
| Common stock - Class A | 43,864 | 43,835 | ||
| Common stock - Class B | 7,416 | 7,445 | ||
| Additional paid-in capital | 839,328 | 784,509 | ||
| Retained earnings | 2,834,548 | 2,635,950 | ||
| Treasury shares | (1,209,200) | (1,082,240) | ||
| Stock Employee Compensation Trust | (195,491) | (194,049) | ||
| Supplemental Retirement Plan Trust | (170,191) | (163,821) | ||
| Accumulated other comprehensive loss | (157,719) | (202,812) | ||
| Total shareholders’ equity | 1,992,555 | 1,828,817 | ||
| Total liabilities and shareholders’ equity | $ | 4,426,055 | $ | 4,077,647 |
| (1) Amounts have been revised to reflect the correction of immaterial misstatements. See "Revision of Previously Issued Consolidated Financial Statements" section included herein for additional information. |
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8
| Moog Inc. | |||
|---|---|---|---|
| CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) | |||
| (dollars in thousands) | |||
| --- | --- | --- | --- |
| September 28, 2024 (1) | |||
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Net earnings | 235,028 | $ | 208,786 |
| Adjustments to reconcile net earnings to net cash provided (used) by operating activities: | |||
| Depreciation | 85,878 | ||
| Amortization | 10,149 | ||
| Deferred income taxes | (29,651) | ||
| Equity-based compensation expense | 14,959 | ||
| Gain on sale of buildings | (979) | ||
| Asset impairment and inventory write-down | 29,176 | ||
| Other | 6,283 | ||
| Changes in assets and liabilities providing (using) cash: | |||
| Receivables | 35,962 | ||
| Unbilled receivables | (50,474) | ||
| Inventories | (131,330) | ||
| Accounts payable | 26,446 | ||
| Contract advances and progress billings | (41,717) | ||
| Accrued expenses | 7,900 | ||
| Accrued income taxes | 14,502 | ||
| Net pension and post retirement liabilities | 11,791 | ||
| Other assets and liabilities | 181 | ||
| Net cash provided (used) by operating activities | 197,862 | ||
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Acquisitions of businesses, net of cash acquired | (5,911) | ||
| Purchase of property, plant and equipment | (151,995) | ||
| Net proceeds from businesses sold | 1,627 | ||
| Net proceeds from buildings sold | 1,453 | ||
| Other investing transactions | (766) | ||
| Net cash provided (used) by investing activities | (155,592) | ||
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Proceeds from revolving lines of credit | 1,038,500 | ||
| Payments on revolving lines of credit | (1,029,500) | ||
| Proceeds from long-term debt | — | ||
| Payments on finance lease obligations | (6,037) | ||
| Payment of dividends | (35,476) | ||
| Proceeds from sale of treasury stock | 15,685 | ||
| Purchase of outstanding shares for treasury | (36,738) | ||
| Proceeds from sale of stock held by SECT | 28,202 | ||
| Purchase of stock held by SECT | (22,837) | ||
| Other financing transactions | — | ||
| Net cash provided (used) by financing activities | (48,201) | ||
| Effect of exchange rate changes on cash | 1,324 | ||
| Increase (decrease) in cash, cash equivalents and restricted cash | (4,607) | ||
| Cash, cash equivalents and restricted cash at beginning of year (2) | 69,144 | ||
| Cash, cash equivalents and restricted cash at end of period (2) | 62,213 | $ | 64,537 |
| (1) Amounts have been revised to reflect the correction of immaterial misstatements. See "Revision of Previously Issued Consolidated Financial Statements" section included herein for additional information.(2) Beginning of year cash balance at September 29, 2024 and end of year cash balance at September 28, 2024 includes cash related to assets held for sale of 2,720. |
All values are in US Dollars.
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9
| Moog Inc. | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| RECONCILIATION OF NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES TO FREE CASH FLOW (UNAUDITED) | ||||||||||||
| (dollars in thousands) | ||||||||||||
| Three Months Ended | Twelve Months Ended | |||||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| September 27,<br>2025 | September 28, 2024 (1) | September 27,<br>2025 | September 28, 2024 (1) | |||||||||
| Net cash provided (used) by operating activities | $ | 240,689 | $ | 147,462 | $ | 273,086 | $ | 197,862 | ||||
| Purchase of property, plant and equipment | (41,690) | (38,172) | (144,731) | (151,995) | ||||||||
| Receivables Purchase Agreement | — | — | — | (25,000) | ||||||||
| Free cash flow | $ | 198,999 | $ | 109,290 | $ | 128,355 | $ | 20,867 | ||||
| Adjusted net earnings | $ | 82,171 | $ | 69,656 | $ | 278,685 | $ | 253,844 | ||||
| Free cash flow conversion | 242 | % | 157 | % | 46 | % | 8 | % | ||||
| (1) Amounts have been revised to reflect the correction of immaterial misstatements. See "Revision of Previously Issued Consolidated Financial Statements" section included herein for additional information. |
Free cash flow is defined as net cash provided (used) by operating activities, less purchase of property, plant and equipment, less the benefit from the Receivables Purchase Agreement. Free cash flow conversion is defined as free cash flow divided by adjusted net earnings. Free cash flow and free cash flow conversion are not measures determined in accordance with GAAP and may not be comparable with the measures as used by other companies. However, management believes these adjusted financial measures may be useful in evaluating the liquidity, financial condition and results of operations of the Company. This information should be considered supplemental and is not a substitute for financial information prepared in accordance with GAAP.
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10
| Moog Inc. |
|---|
| REVISION OF PREVIOUSLY ISSUED CONSOLIDATED FINANCIAL STATEMENTS |
During the preparation of our consolidated financial statements for the year ended September 27, 2025, management identified immaterial misstatements in previously issued consolidated financial statements and interim consolidated condensed financial statements, impacting prior periods.
The principal misstatement related to the accounting for a distinct group of long-term aftermarket service contracts with customers in the Commercial Aircraft segment. Specifically, there were inaccurate inputs used in the total costs at completion estimate within the over-time revenue recognition calculation for these contracts that accumulated over several years. Additionally, other unrelated immaterial misstatements, including an adjustment for the understatement of certain warranty costs, were also identified.
We evaluated the nature and magnitude of all identified misstatements to assess the materiality, including quantitative and qualitative considerations, and determined that the misstatements were not material, individually or in aggregate, to any previously issued quarterly or annual consolidated financial statements. However, correcting these misstatements entirely in the current period would have been material to our 2025 financial statements. As a result we have revised our prior period annual consolidated financial statements for 2023 and 2024 and our quarterly consolidated condensed financial statements for 2024 and 2025 to reflect the corrections in the periods in which the misstatements originated.
A summary of the corrections and their related impacts on each financial statement line items from our previously issued consolidated financial statements will be presented in Note 25 – Revision of Previously Issued Consolidated Financial Statements of our Annual Report on Form 10-K to be filed with the SEC and in the revised Consolidated Financial Statement tables below.
Shaping the way our world moves ™
11
| Moog Inc. | ||||||
|---|---|---|---|---|---|---|
| REVISION OF PREVIOUSLY ISSUED CONSOLIDATED FINANCIAL STATEMENTS<br>CONSOLIDATED STATEMENTS OF EARNINGS (UNAUDITED) | ||||||
| (dollars in thousands, except per share data) | ||||||
| Three Months Ended | ||||||
| --- | --- | --- | --- | --- | --- | --- |
| September 28,<br>2024 | ||||||
| As Reported | Revisions | As Revised | ||||
| Net sales | $ | 917,272 | $ | 2,123 | $ | 919,395 |
| Cost of sales | 666,541 | (8,881) | 657,660 | |||
| Inventory write-down | 5,252 | — | 5,252 | |||
| Gross profit | 245,479 | 11,004 | 256,483 | |||
| Research and development | 26,021 | — | 26,021 | |||
| Selling, general and administrative | 124,840 | 1,537 | 126,377 | |||
| Interest | 9,262 | 8,135 | 17,397 | |||
| Asset impairment and fair value adjustment | 15,287 | — | 15,287 | |||
| Restructuring | 11,165 | — | 11,165 | |||
| Gain on sale of buildings | (979) | — | (979) | |||
| Other | 4,335 | 2,114 | 6,449 | |||
| Earnings before income taxes | 55,548 | (782) | 54,766 | |||
| Income taxes | 12,503 | (271) | 12,232 | |||
| Net earnings | $ | 43,045 | $ | (511) | $ | 42,534 |
| Net earnings per share | ||||||
| Basic | $ | 1.35 | $ | (0.02) | $ | 1.33 |
| Diluted | $ | 1.33 | $ | (0.02) | $ | 1.31 |
| Twelve Months Ended | ||||||
| --- | --- | --- | --- | --- | --- | --- |
| September 28,<br>2024 | ||||||
| As Reported | Revisions | As Revised | ||||
| Net sales | $ | 3,609,160 | $ | (200) | $ | 3,608,960 |
| Cost of sales | 2,605,214 | (15,689) | 2,589,525 | |||
| Inventory write-down | 7,027 | — | 7,027 | |||
| Gross profit | 996,919 | 15,489 | 1,012,408 | |||
| Research and development | 112,773 | — | 112,773 | |||
| Selling, general and administrative | 494,887 | 6,366 | 501,253 | |||
| Interest | 62,112 | 4,218 | 66,330 | |||
| Asset impairment and fair value adjustment | 22,149 | — | 22,149 | |||
| Restructuring | 23,788 | — | 23,788 | |||
| Gain on sale of buildings | (979) | — | (979) | |||
| Other | 14,376 | 2,972 | 17,348 | |||
| Earnings before income taxes | 267,813 | 1,933 | 269,746 | |||
| Income taxes | 60,593 | 367 | 60,960 | |||
| Net earnings | $ | 207,220 | $ | 1,566 | $ | 208,786 |
| Net earnings per share | ||||||
| Basic | $ | 6.48 | $ | 0.05 | $ | 6.53 |
| Diluted | $ | 6.40 | $ | 0.05 | $ | 6.45 |
Shaping the way our world moves ™
12
| Moog Inc. | ||||||||
|---|---|---|---|---|---|---|---|---|
| REVISION OF PREVIOUSLY ISSUED CONSOLIDATED FINANCIAL STATEMENTS<br>CONSOLIDATED SALES AND OPERATING PROFIT (UNAUDITED) | ||||||||
| (dollars in thousands) | Three Months Ended | |||||||
| --- | --- | --- | --- | --- | --- | --- | ||
| September 28,<br>2024 | ||||||||
| As Reported | Revisions | As Revised | ||||||
| Net sales: | ||||||||
| Space and Defense | $ | 262,824 | $ | — | $ | 262,824 | ||
| Military Aircraft | 215,645 | — | 215,645 | |||||
| Commercial Aircraft | 197,119 | 2,123 | 199,242 | |||||
| Industrial | 241,684 | — | 241,684 | |||||
| Net sales | $ | 917,272 | $ | 2,123 | $ | 919,395 | ||
| Operating profit: | ||||||||
| Space and Defense | $ | 27,179 | $ | (625) | $ | 26,554 | ||
| Military Aircraft | 25,535 | 71 | 25,606 | |||||
| Commercial Aircraft | 21,634 | 9,095 | 30,729 | |||||
| Industrial | 9,065 | 927 | 9,992 | |||||
| Total operating profit | 83,413 | 9,468 | 92,881 | |||||
| Deductions from operating profit: | ||||||||
| Interest expense | 9,262 | 8,136 | 17,398 | |||||
| Equity-based compensation expense | 3,658 | — | 3,658 | |||||
| Non-service pension expense | 3,119 | — | 3,119 | |||||
| Corporate and other expenses, net | 11,826 | 2,114 | 13,940 | |||||
| Earnings before income taxes | $ | 55,548 | $ | (782) | $ | 54,766 | ||
| Twelve Months Ended | ||||||||
| --- | --- | --- | --- | --- | --- | --- | ||
| September 28,<br>2024 | ||||||||
| As Reported | Revisions | As Revised | ||||||
| Net sales: | ||||||||
| Space and Defense | $ | 1,018,148 | $ | — | $ | 1,018,148 | ||
| Military Aircraft | 811,566 | — | 811,566 | |||||
| Commercial Aircraft | 788,300 | (200) | 788,100 | |||||
| Industrial | 991,146 | — | 991,146 | |||||
| Net sales | $ | 3,609,160 | $ | (200) | $ | 3,608,960 | ||
| Operating profit: | ||||||||
| Space and Defense | $ | 127,354 | $ | (469) | $ | 126,885 | ||
| Military Aircraft | 85,858 | (355) | 85,503 | |||||
| Commercial Aircraft | 91,472 | 7,405 | 98,877 | |||||
| Industrial | 90,657 | 2,543 | 93,200 | |||||
| Total operating profit | 395,341 | 9,124 | 404,465 | |||||
| Deductions from operating profit: | ||||||||
| Interest expense | 62,112 | 4,218 | 66,330 | |||||
| Equity-based compensation expense | 14,959 | — | 14,959 | |||||
| Non-service pension expense | 12,685 | — | 12,685 | |||||
| Corporate and other expenses, net | 37,772 | 2,973 | 40,745 | |||||
| Earnings before income taxes | $ | 267,813 | $ | 1,933 | $ | 269,746 |
Shaping the way our world moves ™
13
| Moog Inc. | ||||||
|---|---|---|---|---|---|---|
| REVISION OF PREVIOUSLY ISSUED CONSOLIDATED FINANCIAL STATEMENTS<br>CONSOLIDATED BALANCE SHEETS (UNAUDITED) | ||||||
| (dollars in thousands) | ||||||
| September 28,<br>2024 | ||||||
| --- | --- | --- | --- | --- | --- | --- |
| As Reported | Revisions | As Revised | ||||
| ASSETS | ||||||
| Current assets | ||||||
| Cash and cash equivalents | $ | 61,694 | $ | — | $ | 61,694 |
| Restricted cash | 123 | — | 123 | |||
| Receivables, net | 419,971 | — | 419,971 | |||
| Unbilled receivables | 709,014 | (18,442) | 690,572 | |||
| Inventories, net | 863,702 | (1,161) | 862,541 | |||
| Prepaid expenses and other current assets | 86,245 | 1,500 | 87,745 | |||
| Total current assets | 2,140,749 | (18,103) | 2,122,646 | |||
| Property, plant and equipment, net | 929,357 | (769) | 928,588 | |||
| Operating lease right-of-use assets | 52,591 | — | 52,591 | |||
| Goodwill | 833,764 | — | 833,764 | |||
| Intangible assets, net | 63,479 | — | 63,479 | |||
| Deferred income taxes | 20,991 | 2,893 | 23,884 | |||
| Other assets | 52,695 | — | 52,695 | |||
| Total assets | $ | 4,093,626 | $ | (15,979) | $ | 4,077,647 |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||
| Current liabilities | ||||||
| Accounts payable | $ | 292,988 | $ | 900 | $ | 293,888 |
| Accrued compensation | 101,127 | 2,900 | 104,027 | |||
| Contract advances and progress billings | 299,732 | 2,394 | 302,126 | |||
| Accrued liabilities and other | 305,180 | 8,193 | 313,373 | |||
| Total current liabilities | 999,027 | 14,387 | 1,013,414 | |||
| Long-term debt, excluding current installments | 874,139 | — | 874,139 | |||
| Long-term pension and retirement obligations | 167,161 | — | 167,161 | |||
| Deferred income taxes | 27,738 | (86) | 27,652 | |||
| Other long-term liabilities | 164,928 | 1,536 | 166,464 | |||
| Total liabilities | 2,232,993 | 15,837 | 2,248,830 | |||
| Shareholders’ equity | ||||||
| Common stock - Class A | 43,835 | — | 43,835 | |||
| Common stock - Class B | 7,445 | — | 7,445 | |||
| Additional paid-in capital | 784,509 | — | 784,509 | |||
| Retained earnings | 2,668,723 | (32,773) | 2,635,950 | |||
| Treasury shares | (1,082,240) | — | (1,082,240) | |||
| Stock Employee Compensation Trust | (194,049) | — | (194,049) | |||
| Supplemental Retirement Plan Trust | (163,821) | — | (163,821) | |||
| Accumulated other comprehensive loss | (203,769) | 957 | (202,812) | |||
| Total shareholders’ equity | 1,860,633 | (31,816) | 1,828,817 | |||
| Total liabilities and shareholders’ equity | $ | 4,093,626 | $ | (15,979) | $ | 4,077,647 |
Shaping the way our world moves ™
14
| Moog Inc. | |||||
|---|---|---|---|---|---|
| REVISION OF PREVIOUSLY ISSUED CONSOLIDATED FINANCIAL STATEMENTS<br>CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) | |||||
| (dollars in thousands) | |||||
| --- | --- | --- | --- | --- | --- |
| Revisions | As Revised | ||||
| CASH FLOWS FROM OPERATING ACTIVITIES | |||||
| Net earnings | 207,220 | $ | 1,566 | $ | 208,786 |
| Adjustments to reconcile net earnings to net cash provided (used) by operating activities: | |||||
| Depreciation | 2,921 | 85,878 | |||
| Amortization | — | 10,149 | |||
| Deferred income taxes | 2,084 | (29,651) | |||
| Equity-based compensation expense | — | 14,959 | |||
| Gain on sale of buildings | — | (979) | |||
| Asset impairment and inventory write-down | — | 29,176 | |||
| Other | (229) | 6,283 | |||
| Changes in assets and liabilities providing (using) cash: | |||||
| Receivables | 12,700 | 35,962 | |||
| Unbilled receivables | (53,330) | (50,474) | |||
| Inventories | (4,352) | (131,330) | |||
| Accounts payable | — | 26,446 | |||
| Contract advances and progress billings | 42,579 | (41,717) | |||
| Accrued expenses | (18,593) | 7,900 | |||
| Accrued income taxes | (1,717) | 14,502 | |||
| Net pension and post retirement liabilities | — | 11,791 | |||
| Other assets and liabilities | 11,889 | 181 | |||
| Net cash provided (used) by operating activities | (4,482) | 197,862 | |||
| CASH FLOWS FROM INVESTING ACTIVITIES | |||||
| Acquisitions of businesses, net of cash acquired | — | (5,911) | |||
| Purchase of property, plant and equipment | 4,023 | (151,995) | |||
| Net proceeds from businesses sold | — | 1,627 | |||
| Net proceeds from buildings sold | — | 1,453 | |||
| Other investing transactions | — | (766) | |||
| Net cash provided (used) by investing activities | 4,023 | (155,592) | |||
| CASH FLOWS FROM FINANCING ACTIVITIES | |||||
| Proceeds from revolving lines of credit | — | 1,038,500 | |||
| Payments on revolving lines of credit | — | (1,029,500) | |||
| Payments on finance lease obligations | 459 | (6,037) | |||
| Payment of dividends | — | (35,476) | |||
| Proceeds from sale of treasury stock | — | 15,685 | |||
| Purchase of outstanding shares for treasury | — | (36,738) | |||
| Proceeds from sale of stock held by SECT | — | 28,202 | |||
| Purchase of stock held by SECT | — | (22,837) | |||
| Net cash provided (used) by financing activities | 459 | (48,201) | |||
| Effect of exchange rate changes on cash | — | 1,324 | |||
| Increase (decrease) in cash, cash equivalents and restricted cash | — | (4,607) | |||
| Cash, cash equivalents and restricted cash at beginning of year (1) | — | 69,144 | |||
| Cash, cash equivalents and restricted cash at end of period | 64,537 | $ | — | $ | 64,537 |
| (1) Ending cash balance at September 28, 2024 includes cash related to assets held for sale of 2,720. |
All values are in US Dollars.
Shaping the way our world moves ™
15
Document
| Release Date: | November 21, 2025 |
|---|---|
| IMMEDIATE |
Moog Inc. Announces Cash Dividend
East Aurora, NY – The Board of Directors of Moog Inc. (NYSE: MOG.A and MOG.B) declared a quarterly dividend of $0.29 per share on the Company’s issued and outstanding shares of Class A and Class B common stock. The dividend will be paid on December 17, 2025, to all shareholders of record as of the close of business on December 8, 2025.
The dividend represents a net use of cash of approximately $9 million. Future declarations of quarterly dividends are subject to the determination and discretion of Moog’s Board of Directors.
About Moog Inc.
Moog Inc. is a worldwide designer, manufacturer, and integrator of precision control components and systems. Moog’s high-performance systems control military and commercial aircraft, satellites, space vehicles, launch vehicles, defense systems, missiles, automated industrial machinery, marine and medical equipment. Additional information about the company can be found at www.moog.com.
Contact: Aaron Astrachan
716.687.4225
Shaping the way our world moves ™