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Third Quarter 2026 Earnings Supplemental July 2026 moog
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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 words such as: “may,” “will,” “should,” “believes,” “expects,” “expected,” “intends,” “plans,” “projects,” “approximate,” “estimates,” “predicts,” “potential,” “outlook,” “forecast,” “anticipates,” “presume,” “assume” and other words and terms of similar meaning (including their negative counterparts or other various or comparable terminology). These forward-looking statements are made pursuant to the Private Securities Litigation Reform Act of 1995, are neither historical facts nor guarantees of future performance and are subject to several factors, risks and uncertainties, the impact or occurrence of which could cause actual results to differ materially from the expected results described in the forward-looking statements. Although it is not possible to create a comprehensive list of all factors that may cause our actual results to differ from the results expressed or implied by our forward-looking statements or that may affect our future results, some of these factors and other risks and uncertainties are described in Item 1A “Risk Factors” of our Annual Report on Form 10-K and in our other periodic filings with the Securities and Exchange Commission (“SEC”) include, but are not limited to, risks relating to: (i) our operation in highly competitive markets with competitors who may have greater resources than we possess; (ii) our operation in cyclical markets that are sensitive to domestic and foreign economic conditions and events; (iii) current and future geopolitical conditions and events, including wars, armed conflicts, sanctions, trade restrictions and related disruptions to global markets and supply chains; (iv) our heavy dependence on government contracts that may not be fully funded, delayed or terminated; (v) our ability to remediate the material weakness in internal control over financial reporting and maintain effective disclosure controls and procedures; (vi) supply chain constraints and inflationaryimpacts on prices for raw materials and components used in our products; (vii) failure of our subcontractors or suppliers to perform their contractual obligations; (viii) risks related to information systems interruptions,intrusions, cybersecurity threats or new software implementations; and (ix) our accounting estimates for over-time contracts and any changes we may need to make thereto. You should evaluate all forward-looking statements made in thispresentation in the context of these risks and uncertainties. While we believe we have identified and discussed in our SEC filings the material risks affecting our business, there may be additional factors, risksand uncertainties not currently known to us or that we currently consider immaterial that may affect the forward-looking statements we make herein. Given these factors, risks and uncertainties, investors should not place undue reliance on forward-looking statements as predictive of future results. Any forward-looking statement speaks only as of the date on which it is made, and we disclaim any obligation to update any forward-looking statement made in this presentation, except as required by applicable law. Non-GAAP Financial Measures The presentation also includes certain financial information that is not presented in accordance with Generally Accepted Accounting Principles (“GAAP”), including, but not limited to, “Adjusted Operating Margin,” “Adjusted Diluted Net Earnings Per Share,” “Adjusted EBITDA,” “Free Cash Flow” and “Free Cash Flow Conversion.”While we believe that these non-GAAP financial measures may be useful in evaluating our financial condition and results of operations, this information should be considered supplemental and is not a substitute for financial information prepared in accordance with GAAP.Adjustments to operating profit and margin and net earnings per share have included restructuring charges; acquisition- and integration-related costs; gains or losses on investments; asset impairments; litigationand regulatory matters; discrete tax items; changes in the fair value of contingent consideration; foreign exchange gains or losses; and other non-recurring or non-cash items.Reconciliations of the non-GAAP measures to the most directly comparable GAAP measures can be found in the appendix to this presentation. The presentation also includes certain forward-looking non-GAAP financial guidance, including, but not limited to, “Adjusted Diluted Net Earnings per Share”, “Adjusted Operating Profit”, “Adjusted Operating Margin” and “Adjusted Effective Tax Rate.” The Company is unable to provide a reconciliation of such forward-looking non-GAAP guidance to the most directly comparable GAAP measures without unreasonable effort because certain items that are material to the comparable GAAP measures are not available and cannot be estimated with reasonable certainty. These items are dependent on future events that are difficult to predict and outside the Company’s control. These items may include, but are not limited to, restructuring charges; acquisition- and integration-related costs; gains or losses on investments; asset impairments; litigation and regulatory matters; discrete tax items; changes in the fair value of contingent consideration; foreign exchange gains or losses; and other non-recurring or non-cash items. The timing and amount of these items may vary significantly from period to period and could have a material impact on the Company’s GAAP results, including, but not limited to, “Diluted Net Earnings per Share,” “Operating Profit,” “Operating Margin” and “Effective Tax Rate.” Note – numbers in tables may not add to totals due to rounding. 2 Disclosures
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A Achieved a record quarter, reflecting strength across the portfolio On-track to deliver against our long-term financial objectives and investor day goals Robust financial performance driven by winning formula of innovation and operational excellence 3 Third Quarter 2026 Highlights
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Customer Focus New training center on-boarding talent more quickly, replicating model to other locations Baguio operations received awards for excellence in environmental stewardship People, Community and Planet Simplified operations, informed by 80/20 capabilities, enabling operational excellence Focused decision-making that informs investments, product life cycles and factory transitions Financial Strength Expanded aftermarket partnerships with Military and Commercial aircraft customers Announced new European defense capabilities Quickly ramping manufacturing capacity to meet data center cooling demand 4 Third Quarter 2026 Operational Highlights
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$1.1B 16.4% Sales Adjusted Operating Margin* $3.72 Adjusted Net Earnings Per Share* $133M Free Cash Flow* * Non-GAAP measures, see Appendix for reconciliations Record quarter driven by significant sales growth, tariff refunds and robust free cash flow* 5 Third Quarter 2026 Financial Headlines Record Record
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USD in millions Sales Q3’26 Q3’25 Delta Comments Space and Defense $ 336 $ 288 17% Broad-based defense demand led by missile controls and space vehicles Military Aircraft 245 225 9% Strong aftermarket activity and continued higher MV-75 activity Commercial Aircraft 254 218 17% Higher volume and pricing on various major production and aftermarket programs Industrial 282 240 18% Growing demand for data center cooling pumps Moog $ 1,117 $ 970 15% 6 $970 $1,117 Q3'25 Q3'26 15% Third Quarter 2026 Sales
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Adjusted Operating Margins* Q3’26 Q3’25 Delta (bps) Comments Space and Defense 15.7% 14.2% 150 Business performance; also tariff refunds, partially offset by investments Military Aircraft 14.7% 11.8% 290 Business performance and, to a lesser extent, tariff refunds Commercial Aircraft 15.2% 14.7% 50 Tariff refunds and pricing benefits, mostly offset by absence of prior year’s non-core product line sale and current quarter’s less favorable sales mix Industrial 19.9% 13.6% 630 Predominantly from tariff refunds; also growing data center cooling pump business Moog 16.4% 13.6% 280 Drivers include: +270bps from IEEPA tariff refund claims, +80bps from business performance, (-70bps) from prior year’s product line sale * Non-GAAP measures, see Appendix for reconciliations 7 Third Quarter 2026 Adjusted Operating Margin* 13.6% 16.4% 12.9% Excl PY product sale 13.7% Excl tariff refund Q3'25 Q3'26 280bps 80bps
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* Non-GAAP measures, see Appendix for reconciliations 8 Third Quarter 2026 Adjusted Operating Margin* & EPS* Bridges $2.33 $(0.18) $0.72 $0.70 $0.15 $3.72 Q3 Adjusted EPS*: 2025 to 2026 13.6% 16.4% Q3 Adjusted Operating Margin*: 2025 to 2026 (70) bps +80 bps +270 bps Q3’25 Adj. EPS* Prior year's product line sale Business Performance Tariff refunds Lower tax rate & other Q3’26 Adj. EPS* Q3'25 Adj. Operating Margin* Prior year's product line sale Business Performance IEEPA tariff refund claims Q3'26 Adj. Operating Margin*
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$4.4B 14.1% Sales Adjusted Operating Margin* $11.65** Adjusted Net Earnings Per Share* 70% Free Cash Flow Conversion* * Non-GAAP measures, see Non-GAAP Financial Measures disclosure on slide 2 ** Midpoint of ±$0.10 range Robust business performance, tariff refund and tax credits drove FY’26 guidance increase 9 2026 Guidance as of July
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USD in millions Sales FY’26 (F) As of Jul’26 FY’26 (F) As of Apr’26 Delta ($) Space and Defense $1,310 $1,300 $10 MilitaryAircraft 985 975 10 CommercialAircraft 1,030 1,030 - Industrial 1,060 1,030 30 Moog $4,385 $4,335 $50 * Non-GAAP measures, see Non-GAAP Financial Measures disclosure on slide 2 10 Change in 2026 Guidance: Segment Sales & Margins Adjusted Operating Margins* FY’26 (F) As of Jul’26 FY’26 (F) As of Apr’26 Delta (bps) Space and Defense 14.6% 14.3% 30 MilitaryAircraft 14.0% 13.8% 20 CommercialAircraft 12.2% 11.3% 90 Industrial 15.5% 14.3% 120 Moog 14.1% 13.4% 70
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USD in millions, except for EPS * Non-GAAP measures, see Non-GAAP Financial Measures disclosure on slide 2 ** Midpoint of ±$0.10 range FY’26 (F) As of Jul’26 FY’26 (F) As of Apr’26 Deltas: Jul vs Apr TotalSales $4,385 $4,335 $50 Adjusted Operating Profit* $620 $583 $37 Adjusted Operating Margin* 14.1% 13.4% 70 bps Interest $66 $68 $(2) Adjusted Effective Tax Rate* 23% 25% (200 bps) Adjusted Net EPS*,** $11.65 $10.60 $1.05 Depreciation and Amortization $118 $118 – Adjusted EBITDA* $672 $638 $34 Free Cash Flow Conversion* 70% 60% 10 pts 11 Change in 2026 Guidance: Additional Information
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Strong demand across defense, commercial aircraft and data center cooling businesses Simplification and operational excellence enabling us to meet rapidly increasing demand Business performance, tariff refund and tax credits drove FY’26 guidance increase 12 Continued momentum in delivering our long-term financial objectives and investor day goals Third Quarter 2026 Key Takeaways
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13 Appendix
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51% 28% Reconciliation of Adjusted Net Earnings and Diluted Net Earnings Per Share In USD millions, except for EPS and effective income tax rate 14
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51% 28% Reconciliation of Adjusted Operating Profit and Margin USD in millions 15
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51% 28% Reconciliation to Free Cash Flow and Free Cash Flow Conversion USD in millions 16