- 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.
Xcel Energy Drives Toward Electric Vehicle Future in Colorado
New programs make it easier for customers to drive electric and save money
Xcel Energy announced today that a suite of electric vehicle charging programs is available, making EV charging easy, fast, and more affordable
