Slide 1: First Quarter 2024 Earnings Supplemental
moog FIRST QUARTER 2024 EARNINGS SUPPLEMENTAL January 2024 Shaping the way our world moves™
Slide 2: Disclosures
Disclosures Cautionary Statement Regarding Forward Looking Information This presentation and accompanying oral discussion contains forward-looking statements, which can be identified by labels such as “FY’24 (F)” and by words such as: “may,” “will,” “should,” “believes,” “expects,” “expected,” “inte
Slide 3: First Quarter 2024 Highlights
First Quarter 2024 Highlights Strong financial performance, ahead of plan Positive customer feedback reflected in bookings Impressive employee engagementA feedback moog | SHAPING THE WAY OUR WORLD MOVES™
Slide 4: Operational Highlights
Operational Highlights ULA recognition of Moog as innovative supplier of the year Customer Focus Substantial new orders on RIwP and Space Vehicles Medical Devices audit with zero non-conformances Glassdoor rating of Moog as #21 in Top 100 “Best places to work” People, Community Higher enga
Slide 5: Financial Headlines – Current quarter
Financial Headlines – Current quarter $857M 11.3% $1.53 $23M Sales Adjusted Adjusted Free Cash Operating Earnings Flow** Margin* Per Share* * Non-GAAP measures, see appendix for reconciliations ** Free Cash Flow includes a $25 million benefit due to the expansion of our securitization facility Stron
Slide 6: Current Quarter Sales
Current Quarter Sales USD in millions $857 13% Sales Q1’23 Q1’24 Delta Comments Space and Defense $218 $230 6% Higher demand across broad range of defense and space applications Military Aircraft * $178 $186 5% Ramp up of V-280 program Commercial Aircraft * $132 $194 47% Continued market recovery in
Slide 7: Current Quarter Adjusted Operating Margin
Current Quarter Adjusted Operating Margin* 90bps 11.3% Adjusted Operating Q1’23 Q1’24 Delta Comments Margins * (bps) Space and Defense 9.4% 11.0% 160 Production efficiencies and benefits from pricing Military Aircraft 8.5% 10.5% 200 Increased activity on the V-280 program and a favorable sales mix 1
Slide 8: Current Quarter Free Cash Flow
Current Quarter Free Cash Flow * USD in millions Cash Flows Q1’24 Comments Adjusted Net Earnings* $49 Solid earnings Securitization expansion 25 Increasing balance from $100M to $125M Net Working Capital (33) Negatively impacted by timing of compensation payments Physical inventory growth offset by
Slide 9: Current Year Guidance: Segments
Current Year Guidance: Segments USD in millions Current Year Guidance vs Prior Year Current Year Guidance vs Prior Year Sales Adjusted Operating Margin* Delta As of Jan’24 FY’23 FY’24 (F) Delta As of Jan’24 FY’23 FY’24 (F) (bps) Space and Defense $947 $1,015 7% Space and Defense 10.5% 13.5% 300 Mili
Slide 10: Current Year Guidance
Current Year Guidance USD in millions except for EPS Current Year Guidance vs Prior Year As of Jan’24 FY’23 FY’24 (F) Total Sales $3,319 $3,500 ► Sales increase by 5% Adjusted Operating Profit* $362 $420 ► Benefits from higher sales and key initiatives Interest $64 $67 Tax Rate ~20% ~24% ► Tax rate
Slide 11: First Quarter 2024 Key Takeaways
First Quarter 2024 Key Takeaways Solid quarter and great start to fiscal 2024 On-plan to deliver on investor day goals Great Place to Work with highly engaged employees moog | SHAPING THE WAY OUR WORLD MOVES™
Slide 12: Appendix
Appendix moog | SHAPING THE WAY OUR WORLD MOVES™
Slide 13: Reconciliation of Net Earnings to Adjusted EBITDA
Reconciliation of Net Earnings to Adjusted EBITDA USD in millions moog | SHAPING THE WAY OUR WORLD MOVES™
Slide 14: Reconciliation to Adjusted Net Earnings and Diluted Earnings Per Share
Reconciliation to Adjusted Net Earnings and Diluted Earnings Per Share USD in millions except for EPS moog | SHAPING THE WAY OUR WORLD MOVES™
Slide 15: Reconciliation to Adjusted Operating Profit and Margin
Reconciliation to Adjusted Operating Profit and Margin USD in millions moog | SHAPING THE WAY OUR WORLD MOVES™
Slide 16: Reconciliation to Free Cash Flow
Reconciliation to Free Cash Flow USD in millions moog | SHAPING THE WAY OUR WORLD MOVES™