Moog Inc. reported a significant increase in financial performance for the third quarter and the first nine months of fiscal 2025, as detailed in its latest 10-Q filing. For the three months ended June 28, 2025, the company achieved net sales of $971.4 million, a 7.4% increase from $904.7 million in the same period last year. Net earnings rose to $59.7 million, or $1.87 per diluted share, compared to $56.4 million, or $1.74 per diluted share, in the prior year, reflecting a 4.2% increase in profitability. For the nine-month period, net sales reached $2.82 billion, up from $2.69 billion, while net earnings increased to $168.6 million from $164.2 million.
The company noted several strategic developments during this period, including the acquisition of COTSWORKS, Inc. for $63 million, which is expected to enhance its capabilities in the Space and Defense segment. Additionally, Moog's ongoing focus on simplification initiatives and divestitures has led to a more streamlined operational structure, although these actions have also resulted in some lost sales. The company reported a twelve-month backlog increase, particularly in the Space and Defense segment, indicating strong demand and business capture across its portfolio.
Operationally, Moog's customer engagement metrics showed positive trends, with a notable increase in demand for its Commercial Aircraft and Military Aircraft products. The company reported that 63% of its revenue was recognized over time, primarily from government contracts, while 37% was recognized at the point of sale. The company’s workforce remained stable, with no significant changes in employee headcount reported in the filing.
The filing also highlighted challenges, including a decrease in gross margin to 27.4% from 27.8% year-over-year, attributed to inventory write-downs and a one-time benefit from the Employee Retention Credit in the previous year. Moog's effective tax rate increased to 23.4% from 20.5%, reflecting changes in tax laws and the impact of foreign earnings. Looking ahead, Moog remains optimistic about its growth trajectory, driven by ongoing investments in innovation and operational efficiencies, while navigating the complexities of market conditions and customer demands.
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