Moog reports Q3 aircraft, OEM products down YoY

Moog Inc. (NYSE: MOG.A) (NYSE: MOG.B) said it has announced third quarter earnings of USD36 million, or USD.94 a share.

Included in the third quarter earnings is a per share restructuring charge of USD.11, resulting in adjusted EPS of USD1.05, down slightly from last year´s USD1.08 per share. Sales in the quarter of USD635 million were down 7 percent from a year ago.

Aircraft segment sales in the quarter were USD270 million, down eight percent from a year ago. Commercial aircraft sales of USD129 million were down USD17 million, or 12 percent. Sales of OEM products to Boeing were 16 percent lower compared to last year´s unusually strong third quarter.

Airbus sales increased 12 percent, to USD19 million, as the A350 production continues to ramp up. Commercial aftermarket revenues of USD31 million were down nine percent due to lower initial provisioning of 787 spares.

Military aircraft sales of USD141 million were five percent lower year over year. Military aftermarket sales were down five percent, mainly due to the winding down of the C-5M Super Galaxy modernization program.

F-35 sales, at USD22 million, were down USD1 million as work on the development program subsided.

Moog Inc. is a worldwide designer, manufacturer, and integrator of precision control components and systems. Moog´s high-performance systems control military and commercial aircraft, satellites and space vehicles, launch vehicles, missiles, automated industrial machinery, wind energy, marine and medical equipment.