Moog Inc. Reports Consolidated Earnings Results for the First Quarter of 2014; Provides Earnings Guidance for the Fiscal Year 2014
The company provided earnings guidance for the fiscal year of 2014. For the period, the company reduced its sales forecast for the year by $45 million, which will result in $0.10 lower earnings. The new forecast is for sales of $2.63 billion and EPS of $3.65. Net earnings expected to be of $169 million. Free cash flow outlook for the year remains unchanged since the company's last forecast at $165 million. The forecast for CapEx and depreciation and amortization for all of fiscal 2014 unchanged at $105 million and $113 million, respectively. For the full year fiscal 2014, the company forecasting margins of 11.3%, up from fiscal 2013 operating margins of 8.7%, excluding specials.