Moog Reports Sales Increase and Beats Profit Estimates

Shares of Moog, the system-control products maker, saw a significant boost on Friday following the company's report of a sales increase in the fourth quarter. Not only did Moog exceed profit estimates, but the stock also experienced a 9.3% rise, reaching $129.82 in midday trading. So far this year, the stock has shown an impressive 48% increase.

Strong Financial Performance for Moog

Moog, headquartered in East Aurora, N.Y., announced a fiscal fourth-quarter profit of $39.6 million, equivalent to $1.23 per share. This represents a substantial growth compared to the previous year's profit of $29.4 million ($0.92 per share). Even after adjusting for certain one-time items, the company posted an impressive profit of $2.10 per share, surpassing the forecasted $1.71 per share by analysts polled by FactSet.

Sales Surge in the Fourth Quarter

Moog witnessed a remarkable 14% increase in sales during the fourth quarter, amounting to $872 million. Looking ahead, the company expects further growth, with projected fiscal 2024 sales of $3.45 billion. This projection exceeds the estimated $3.43 billion forecasted by analysts polled by FactSet.

Positive Earnings Outlook

For the full fiscal year, Moog anticipates per-share earnings to range from $6.60 to $7. With an optimistic financial performance and a strong outlook for the future, Moog puts itself in a favorable position for continued success.