EAST AURORA, N.Y.--(BUSINESS WIRE)--On Tuesday June 6, 2023, Moog Inc. (NYSE: MOG.A and MOG.B) hosted its first investor day under Chief Executive Officer Pat Roche. The event featured presentations from members of the executive leadership team who shared details on Moog's future direction and financial targets.
“We are a strong company, with a proven record of growth in expanding markets,” said Pat Roche, CEO. “We have a clean line of sight to better profitability, enabled by our simplification and pricing initiatives that are already underway. This will be a significant change in performance over the next few years, one to which my leadership team and I are fully committed.”
Business Outlook
The company reiterated its previously issued guidance for fiscal year 2023 with sales of $3.2 billion, adjusted operating margin of 11.0%, and adjusted earnings per share of $5.70 (forecasted to be within range of +/- $0.20). The summary below includes the newly issued outlook for 2026, using 2022 as a baseline, and other items shared at today's event.
- Compound annual sales growth rate of 5-7%;
- 100 basis point average annual adjusted operating margin growth;
- 15-20% adjusted earnings per share compound annual growth rate; and
- 75-100% free cash flow conversion in 2025 and 2026.
The presentation materials and a replay of the event are archived at https://www.moog.com/investors/communications.html.
About Moog
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. Additional information about the company can be found at www.moog.com.
