Moog Inc. (NYSE: MOG-A) has announced its financial results for the first quarter, showcasing an increase in profit compared to the previous year and surpassing Wall Street predictions.
The company reported net earnings of $53.11 million, translating to $1.64 per share. This is an improvement from $47.81 million, or $1.48 per share, recorded in the same quarter last year.
Excluding certain one-time items, Moog Inc. achieved adjusted earnings of $57.66 million, or $1.78 per share during this period.
Analysts had anticipated an earnings figure of $1.70 per share, typically excluding extraordinary items from their assessments.
The company's revenue for the quarter grew by 6.2%, advancing to $910.32 million from $856.85 million in the corresponding quarter of the previous year.
Summary of Moog Inc.'s financial performance (in accordance with GAAP):
- Net Earnings: $53.11 million, up from $47.81 million in the prior year
- Earnings Per Share (EPS): $1.64, compared to $1.48 from the previous year
- Revenue: $910.32 million, rising from $856.85 million the previous year
**Guidance:** For the full fiscal year, Moog Inc. projects an EPS of $8.20 and anticipates total revenue of $3,700 million.
