Moog Raised FY24 Net Sales Outlook To $3.55B (From $3.50B) Vs. $3.51B Est.; Adj. EPS to $7.25 (From $6.90) Vs. $6.94 Est.
Portfolio Pulse from Benzinga Newsdesk
Moog Inc. has increased its FY24 net sales outlook to $3.55 billion from $3.50 billion, surpassing the $3.51 billion estimate. The adjusted EPS forecast has also been raised to $7.25 from $6.90, exceeding the $6.94 estimate. CFO Jennifer Walter highlighted a 7% sales growth, a 150 basis point expansion in adjusted operating margin, and an 18% increase in adjusted EPS, indicating strong financial performance and progress towards long-term targets.
April 26, 2024 | 12:04 pm
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Moog Inc. has revised its FY24 net sales and adjusted EPS forecasts upwards, indicating a robust financial outlook and surpassing analyst estimates.
The upward revision in Moog's financial forecasts, especially exceeding analyst estimates, typically signals strong company performance and confidence from management. This positive news is likely to instill investor confidence, potentially leading to a short-term increase in stock price as market participants react to the improved outlook.
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