Slide 1: Third Quarter 2024 Earnings Supplemental
moog THIRD QUARTER 2024 EARNINGS SUPPLEMENTAL August 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: Third Quarter 2024 Highlights
Third Quarter 2024 Highlights Achieved strong sales growth driven by defense and commercial end markets Improved operating margins through better operational performance and sales mix Confident in delivering full-year results A moog | SHAPING THE WAY OUR WORLD MOVES
Slide 4: Third Quarter 2024 Operational Highlights
Third Quarter 2024 Operational Highlights ▪ Strong customer engagement at Farnborough, RIAT, Eurosatory Customer Focus ▪ Once-in-a-generation defense opportunities in pipeline ▪ Facility clearance enables new classified awards ▪ Purpose driven employee engagement drives medical devices performance P
Slide 5: Third Quarter 2024 Financial Headlines
Third Quarter 2024 Financial Headlines $905M 12.3% $1.91 $(2M) Sales Adjusted Adjusted Free Cash Operating Earnings Flow* Margin* Per Share* * Non-GAAP measures, see appendix for reconciliations Operating performance and sales growth drive 39% EPS* growth moog | SHAPING THE WAY OUR WORLD MOVES
Slide 6: Third Quarter 2024 Sales
Third Quarter 2024 Sales USD in millions $905 6% Sales Q3’24 Q3’23 Delta Comments Space and Defense $ 258 $ 242 7% Strong U.S. and European defense demand Military Aircraft ** 207 176 18% Ramp of FLRAA and other OEM production programs $850 Commercial Aircraft ** 189 179 6% Production ramp in widebo
Slide 7: Third Quarter 2024 Adjusted Operating Margin
Third Quarter 2024 Adjusted Operating Margin* 12.3% 210bps Adjusted Operating Q3’24 Q3’23 Delta Comments Margins* (bps) Space and Defense 12.7% 7.8% 490 Improved performance on space vehicle programs 10.2% Military Aircraft ** 11.9% 10.5% 140 Cost absorption on the FLRAA program Commercial Aircraft
Slide 8: Third Quarter 2024 Free Cash Flow
Third Quarter 2024 Free Cash Flow* USD in millions Free Cash Flow includes Q3’24 Comments Adjusted Net Earnings* $ 62 Operating profit associated with strong margin expansion and higher sales Net Working Capital (51) Work-down of customer advances; unfavorable timing of collections; physical invento
Slide 9: Current Year Guidance: Segment Sales
Current Year Guidance: Segment Sales USD in millions Current Year Guidance vs Prior Year FY’24 (F) FY’23 Delta Comments As of Jul’24 Space and Defense $ 1,010 $ 947 7% Strong broad based defense demand Military Aircraft 790 720 10% Full year of FLRAA activity Commercial Aircraft 785 669 17% Producti
Slide 10: Change in Current Year Guidance: Segment Sales & Margins
Change in Current Year Guidance: Segment Sales & Margins USD in millions FY’24 (F) Sales FY’24 (F) Adjusted Operating Margin* As of As of As of As of Delta Delta Jul’24 Apr’24 Jul’24 Apr’24 (bps) Space and Defense $ 1,010 $ 1,000 $ 10 Space and Defense 13.0% 13.4% (40) Military Aircraft 790 775 15 M
Slide 11: Change in Current Year Guidance
Change in Current Year Guidance USD in millions, except for EPS As of As of FY 2024 Forecasted: Jul’24 Apr’24 Total Sales $ 3,575 $ 3,550 ► Lower commercial outlook, growth across other segments Adjusted Operating Profit* $ 443 $ 438 ► Contribution from higher sales Adjusted Operating Margin* 12.4%
Slide 12: Third Quarter 2024 Key Takeaways
Third Quarter 2024 Key Takeaways Strong sales across businesses, meeting customers’ needs Focused margin enhancement, through pricing and simplification Full-year guidance aligns with Investor Day goals Pursuing new opportunities that secure long-term business growth moog | SHAPING THE WAY OUR WORLD
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