Moog Inc. reported a net sales increase of 7% for the fiscal year ending September 27, 2025, reaching $3.86 billion compared to $3.61 billion in the previous year. The company's net earnings also rose by 13% to $235 million, or $7.33 per diluted share, up from $209 million, or $6.45 per diluted share, in 2024. This growth was primarily driven by increased demand in the Commercial Aircraft and defense markets, particularly within the Space and Defense and Military Aircraft segments. However, the Industrial segment experienced a decline in sales due to divestitures made earlier in the year.
The company’s gross margin decreased slightly to 27.4% from 28.1% in 2024, influenced by a one-time benefit from the Employee Retention Credit in the previous year. Research and development expenses fell by 17% to $94 million, reflecting a reduction in activity, particularly in the Industrial segment. Selling, general, and administrative expenses as a percentage of sales increased to 14.3%, attributed to legal dispute settlements and heightened business capture activities.
Moog's total backlog reached $6.01 billion, a 19% increase from the previous year, with a twelve-month backlog of $3.0 billion, up 20%. This growth was supported by strong order activity across all segments, particularly in Military Aircraft and Space and Defense, driven by new production programs and increased demand for components. The company also expanded its workforce, hiring over 1,400 new employees in 2025, bringing the total employee count to approximately 13,500.
Strategically, Moog completed the acquisition of COTSWORKS, Inc. for $61.5 million, enhancing its capabilities in rugged optical components for harsh environments. The company continues to focus on organic growth while pursuing strategic acquisitions that align with its core business. Looking ahead, Moog anticipates continued growth driven by strong demand in aerospace and defense markets, although it remains cautious about potential fluctuations in government defense spending and market conditions. The company is also addressing a material weakness in its internal controls related to revenue recognition for long-term contracts, which it aims to remediate through enhanced controls and training.
About MOOG INC.
Moog Inc. designs and manufactures high-performance precision motion and fluid control systems for aerospace, defense, and industrial markets. It operates through segments including Space and Defense, Military Aircraft, Commercial Aircraft, and Industrial. The company provides engineered products, aftermarket support, and integrated control systems to OEMs and end users worldwide, emphasizing quality, reliability, innovation, and sustainability to maintain competitive advantage.
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