Moog Inc (MOG-A) Q1 2016 10-Q Quarterly Earnings

Short answer

Moog Inc (MOG-A) filed its Q1 2016 10-Q quarterly report on Feb 1, 2016 for the quarter ended Jan 2, 2016.

AI summary of MD&A and risk factor updates

Net sales declined 10% YoY, with the filing’s table omitting quarterly dollar totals and showing a $62 million decrease
Gross margin 28.4% vs 29.2% YoY, while SG&A ratio fell to 14.6% from 15.5%
Components worst performer: sales down $28 million, operating profit down $12 million, margin 5.9% vs 15.7%
Medical Devices best performer: sales increased, operating margin 12.5% vs 10.1% YoY
Operating cash flow decreased $79 million YoY, cash balance $323 million, capital spending $12 million and Linear acquisition payment $11 million
2016 outlook: sales down 2% to $2.47 billion, operating margin 9.8%, headwinds from energy, industrial markets and unfavorable currency

Newly initiated restructuring risk: European workforce reductions triggered by the 2016 business outlook
Goodwill impairment risk: industry conditions and future profitability could reduce carrying value beyond the existing $38,200 impairment
Contract execution risk: delays, cost growth or government budget pressures could trigger additional loss provisions
Debt liquidity risk: $100,000 securitization program matures February 10, 2017 with an $80,000 minimum borrowing requirement
Foreign exchange risk: $108,496 of non-hedging currency contracts covered primarily intercompany balances

Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K

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