Slide 1: Fourth Quarter and Fiscal Year 2024 Earnings Supplemental
Moog Fourth Quarter and Fiscal Year 2024 Earnings Supplemental November 2024 Shaping the way our world moves
Slide 2: Disclosures
Disclosures Cautionary Statement Regarding Forward Looking Information This presentation 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 wor
Slide 3: Fiscal Year 2024 Highlights
Fiscal Year 2024 Highlights Achieved Investor Day targets with strong financial performance Secured new orders built on strong technical capabilities and customer focus Matured and accelerated our 80/20 initiatives A moog 3 | SHAPING THE WAY OUR WORLD MOVES
Slide 4: Fourth Quarter 2024 Operational Highlights
Fourth Quarter 2024 Operational Highlights ▪ Conducted “Voice of the Customer” analysis covering a third of the business Customer Focus ▪ Completed AS9100 and FAA audits with zero findings ▪ Secured positions on “generational” defense opportunities ▪ Impacted by extreme weather events, delaying some
Slide 5: Fiscal Year 2024 Financial Headlines
Fiscal Year 2024 Financial Headlines $3.6B 12.4% $7.80 $21M Sales Adjusted Adjusted Free Cash Operating Earnings Flow* Margin* Per Share* * Non-GAAP measures, see appendix for reconciliations Operating margin expansion and sales growth drove strong EPS growth moog 5 | SHAPING THE WAY OUR WORLD MOVES
Slide 6: Fiscal Year 2024 Sales
Fiscal Year 2024 Sales USD in millions 9% $3,609 Sales FY’24 FY’23 Delta Comments $3,319 Space and Defense $ 1,018 $ 947 7% Strong broad-based defense demand Military Aircraft ** 812 720 13% Ramp of FLRAA program Commercial Aircraft ** 788 669 18% Production OEM ramps in widebody, narrowbody and bus
Slide 7: Fiscal Year 2024 Adjusted Operating Margin
Fiscal Year 2024 Adjusted Operating Margin* 150bps 12.4% Adjusted Operating FY’24 FY’23 Delta Comments Margins* (bps) 10.9% Space and Defense 13.4% 10.5% 290 Strong operating performance, including improved performance on space vehicle programs Military Aircraft ** 12.0% 9.0% 300 Cost absorption on
Slide 8: Fiscal Year 2024
Fiscal Year 2024 USD in millions, except for EPS FY’24 FY’23 Total Sales $ 3,609 $ 3,319 ► Record level, driven by defense market growth Adjusted Operating Profit* $ 449 $ 362 Adjusted Operating Margin* 12.4% 10.9% ► Meaningful progress in both pricing and simplification Interest $ 62 $ 64 ► Q4 FY’2
Slide 9: Adjusted Earnings Per Share Bridges
Adjusted Earnings Per Share* Bridges Full Year 2023 to 2024 Fourth Quarter 2023 to 2024 FY’23 Margin Employee Capitalization Higher Higher FY’24 Q4’23 Higher Capitalization Higher Higher Q4’24 Adj EPS expansion retention of interest non- effective Adj EPS Adj EPS profit from of interest non- effecti
Slide 10: Fourth Quarter 2024 Sales
Fourth Quarter 2024 Sales USD in millions 5% $917 Sales Q4’24 Q4’23 Delta Comments Space and Defense $ 263 $ 241 9% Strong European defense demand and higher launch vehicle activity $872 Military Aircraft ** 216 184 17% Ramp of FLRAA and other OEM production programs Commercial Aircraft ** 197 193 2
Slide 11: Fourth Quarter 2024 Adjusted Operating Margin
Fourth Quarter 2024 Adjusted Operating Margin* Adjusted Operating Q4’24 Q4’23 Delta Comments 12.5% 12.5% Margins* (bps) Space and Defense 13.5% 12.8% 70 Improved performance on space vehicle programs, pricing and profitable growth Military Aircraft ** 12.0% 7.5% 450 Lower research and development ex
Slide 12: Fiscal Year 2025 Guidance
Fiscal Year 2025 Guidance $3.7B 13.0% $8.20** 50-75% Sales Adjusted Adjusted Free Cash Operating Earnings Flow Margin* Per Share* Conversion* * Non-GAAP measures, see appendix for reconciliations ** Midpoint of ±$0.20 range Sales growth and margin expansion on-plan with investor day targets; stronge
Slide 13: 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* FY’25 (F) FY’24 Delta FY’25 (F) FY’24 Delta As of Oct’24 As of Oct’24 (bps) Space and Defense $ 1,085 $1,018 7% Space and Defense 14.2% 13.4% 80 Mi
Slide 14: Fiscal Year 2025 Guidance
Fiscal Year 2025 Guidance USD in millions, except for EPS FY’25 (F) FY’24 Delta As of Oct’24 Total Sales $ 3,700 $ 3,609 3% ► Growth across defense and commercial markets Adjusted Operating Profit* $ 482 $ 449 Adjusted Operating Margin* 13.0% 12.4% 60 bps Interest $ 68 $ 62 Tax Rate 24% 23% Adjusted
Slide 15: Key Takeaways
Key Takeaways Strong customer focus, driving organic growth opportunities Continued margin expansion through pricing and simplification FY 2025 will be another positive step on journey towards long-term targets Success driven by our employees, making it a great place to work moog 15 | SHAPING THE WA
Slide 16: Appendix
Appendix moog 16 | SHAPING THE WAY OUR WORLD MOVES
Slide 17: Reconciliation of Net Earnings to Adjusted EBITDA
Reconciliation of Net Earnings to Adjusted EBITDA USD in millions moog 17 | SHAPING THE WAY OUR WORLD MOVES
Slide 18: 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 shares and EPS moog 18 | SHAPING THE WAY OUR WORLD MOVES
Slide 19: Reconciliation to Adjusted Operating Profit and Margin
Reconciliation to Adjusted Operating Profit and Margin USD in millions moog 19 | SHAPING THE WAY OUR WORLD MOVES
Slide 20: Reconciliation to Free Cash Flow and Free Cash Flow Conversion
Reconciliation to Free Cash Flow and Free Cash Flow Conversion USD in millions moog 20 | SHAPING THE WAY OUR WORLD MOVES