Moog Q3 Profit Rises; Updates FY14 Outlook - Quick Facts

(RTTNews) - Moog Inc. (MOG-A, MOG-B), a provider of precision control components and systems, announced third quarter earnings of $48.12 million or $1.08 per share, up from $34.23 million or $0.75 per share in the same quarter last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $1.04 per share for the quarter. Analysts' estimates typically exclude special items.

Sales for the quarter were $683.70 million up from last year's $670.63 million. Wall Street expected revenues of $ 667.65 million for the quarter.

Aircraft sales in the quarter of $294 million were up 8% from a year ago. Commercial aircraft sales of $147 million were up $30 million, or 25%. Sales of OEM products to Boeing were 39% higher, at $70 million, while Airbus sales were up 21%. Commercial aftermarket revenue, at $34 million, was 20% higher in the quarter due to strong initial provisioning of 787 spares.

The company updated its guidance for fiscal 2014 to include sales of $2.65 billion, net earnings of $165 million and earnings per share of $3.65, compared to $2.63 in fiscal 2013. The company said it April that it expected sales of $2.64 billion, net earnings of $169 million and earnings per share of $3.65 for fiscal 2014. Analysts expect the company to report earnings of $3.74 per share and revenues of $2.64 billion for fiscal 2014.

The company provided its initial projections for fiscal 2015 with sales of $2.69 billion, net earnings of $181 million and earnings per share of $4.25, a 16% increase over fiscal 2014 guidance. Analysts expect the company to report earnings of $4.56 per share and revenues of $2.74 billion for fiscal 2015.