Moog Inc. Tops Q2 EPS by 17c (MOG.A) (MOG-A)

Moog Inc. (NYSE: MOG.A) (NYSE MOG-A) reported Q2 EPS of $1.48, $0.17 better than the analyst estimate of $1.31. Revenue for the quarter came in at $765 million versus the consensus estimate of $752.72 million.

Fiscal 2020 Outlook

Late in the second quarter, business disruptions related to the pandemic started to affect the Company’s operations. Given the considerable uncertainty around the extent and duration of these circumstances, and how they will impact operations, the Company is suspending its previously provided fiscal year 2020 guidance.

Actions that have been taken to address business pressures and preserve liquidity include:

• Temporarily suspending dividend payments;
• Temporarily suspending share buyback activities;
• Minimizing capital spend;
• Reducing discretionary spending;
• Implementing hiring and salary freezes;
• Aligning company resources and incoming inventory to be in line with expected customer demand;
• Optimizing the timing of cash flow; and
• Implementing vendor financing programs.

For earnings history and earnings-related data on Moog Inc. (MOG.A) click here.

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