Slide 1: Second Quarter 2024 Earnings Supplemental
moog SECOND QUARTER 2024 EARNINGS SUPPLEMENTAL April 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: Second Quarter 2024 Highlights
Second Quarter 2024 Highlights Exceptionally strong quarter with record sales and strong margins Awards for innovation and supplier excellence Confidence in delivering planned Amargin enhancements moog | SHAPING THE WAY OUR WORLD MOVES™
Slide 4: Second Quarter 2024 Operational Highlights
Second Quarter 2024 Operational Highlights Gold medal for innovation in construction industry Four Meteorite space vehicles on orbit Customer Focus “Best in Class Performance” supplier award from semiconductor equipment manufacturer Great Place to Work across our global operations People, Comm
Slide 5: Second Quarter 2024 Financial Headlines
Second Quarter 2024 Financial Headlines $930M 13.6% $2.19 $(84M) Sales Adjusted Adjusted Free Cash Operating Earnings Flow* Margin* Per Share* * Non-GAAP measures, see appendix for reconciliations Strong performance in the quarter provides confidence in the full year moog | SHAPING THE WAY OUR WORLD
Slide 6: Current Quarter Sales
Current Quarter Sales USD in millions 11% $930 Sales Q2’24 Q2’23 Delta Comments Space and Defense $ 267 $ 246 9% Strong defense demand Military Aircraft ** 203 183 11% Ramp-up of the FLRAA program; sale of mature aftermarket product line Commercial Aircraft ** 208 164 26% Growth in widebody platform
Slide 7: Current Quarter Adjusted Operating Margin
Current Quarter Adjusted Operating Margin* 320bps 13.6% Adjusted Operating Q2’24 Q2’23 Delta Comments Margins* (bps) 10.4% Space and Defense 15.9% 11.7% 420 Improved performance on space vehicle programs; Employee Retention Credit Military Aircraft ** 13.4% 9.4% 400 Sale of a mature product line; Em
Slide 8: Current Quarter Free Cash Flow
Current Quarter Free Cash Flow* USD in millions Free Cash Flow includes Q2’24 Comments Adjusted Net Earnings* $ 71 Operating profit associated with higher sales; Employee Retention Credit Net Working Capital (129) Unfavorable timing of collections; work-down of customer advances; growth in physical
Slide 9: Current Year Guidance: Segment Sales
Current Year Guidance: Segment Sales USD in millions Current Year Guidance vs Prior Year Comments As of Apr’24 FY’24 (F) FY’23 Delta Space and Defense $ 1,000 $ 947 6% Strong defense demand Military Aircraft 775 720 8% Full year of FLRAA program Commercial Aircraft 825 669 23% Production ramps on wi
Slide 10: Change in Current Year Guidance: Segment Sales & Margins
Change in Current Year Guidance: Segment Sales & Margins USD in millions Sales Adjusted Operating Margin* As of As of As of As of Delta Delta Apr’24 Jan’24 Apr’24 Jan’24 (bps) Space and Defense $ 1,000 $ 1,015 $(15) Space and Defense 13.4% 13.5% (10) Military Aircraft 775 745 30 Military Aircraft 12
Slide 11: Change in Current Year Guidance
Change in Current Year Guidance USD in millions except for EPS Current: Prior: FY’24 As of: Apr’24 Jan’24 Total Sales $ 3,550 $ 3,500 ► Reflects strong second quarter sales Adjusted Operating Profit* $ 438 $ 420 ► Employee Retention Credit and profit on higher sales Adjusted Operating Margin* 12.4%
Slide 12: Second Quarter 2024 Key Takeaways
Second Quarter 2024 Key Takeaways Exceptional quarter with record sales and strong margins Strong organic growth Confidence that the full-year outlook will deliver on plan FY24 Sales up 7%; OM up 150 bps; EPS up 18% vs FY23 moog | SHAPING THE WAY OUR WORLD MOVES™
Slide 13: Appendix
Appendix moog | SHAPING THE WAY OUR WORLD MOVES™
Slide 14: 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 15: 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 16: 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 17: Reconciliation to Free Cash Flow
Reconciliation to Free Cash Flow USD in millions moog | SHAPING THE WAY OUR WORLD MOVES™