Moog Inc (MOG-A) Q1 2018 10-Q Quarterly Earnings

Short answer

Moog Inc (MOG-A) filed its Q1 2018 10-Q quarterly report on Apr 27, 2018 for the quarter ended Mar 31, 2018.

AI summary of MD&A and risk factor updates

Net sales $1,317 million vs $1,222 million YoY, increased across all segments
Gross margin 28.0% vs 29.3% YoY, impacted by $7 million inventory write-down
Space and Defense Controls best margin: 11.7% vs 8.2%; Industrial Systems worst: (2.6%) vs 10.9%
Cash balances $256 million; operating cash flow down $76 million, with $44 million capital expenditures and $42 million acquisition spending
2018 guidance: sales $2,687 million, operating margin 9.7%, EPS midpoint $2.67; wind pitch-control phaseout and 48% tax rate headwinds

Restructuring risk: 2018 wind-pitch-control exit triggered $31,387 of charges and workforce reductions in Germany and China
Tax compliance risk: Tax Cuts and Jobs Act created $31,300 transition tax and $15,910 provision on undistributed foreign earnings
Operational risk: Customer claims and contract disputes could require additional loss provisions from delays or cost growth
Financial risk: $300,000 senior notes mature December 1, 2022, while revolving credit facility matures June 28, 2021
Currency risk: Foreign-currency contracts totaled $78,648 for intercompany exposure at March 31, 2018

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

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