TLDR
- Moog posted record Q1 2026 sales of $1.10 billion, up 21.2% year-over-year
- Full-year 2026 sales outlook raised to $4.3 billion; EPS guidance lifted to $10.20
- Q1 bookings hit $2.3 billion, pushing the 12-month backlog up 30% to a record $3.3 billion
- Analysts expect Q2 EPS of $2.36 on revenue of $1.03 billion — a sequential step down from Q1
- Three of four analysts rate MOG.A a buy, with a consensus price target of $324.50
Moog is heading into Friday’s second-quarter fiscal 2026 earnings report on the back of one of the strongest quarters in its history. The question now is whether the company can hold that momentum — or at least come close.
Wall Street expects Q2 EPS of $2.36 on revenue of $1.03 billion. That would represent year-over-year growth of 35% and 10%, respectively. But it’s a step down from Q1, when Moog posted $2.63 per share on $1.10 billion in revenue, beating estimates by 22% and 12%.
The sequential dip was expected. What matters more is whether management can hold the margin line and update investors on the backlog picture.
That backlog is a big part of the story. Q1 bookings came in at $2.3 billion, pushing the 12-month backlog up 30% to a record $3.3 billion. That kind of visibility is rare, and it gives the company something to lean on when quarterly numbers soften.
Following that record quarter, Moog raised its full-year 2026 sales outlook to $4.3 billion and lifted adjusted EPS guidance to $10.20 from $10.00. Adjusted operating margin guidance held at 13.4%.
Space Program Wins Add to the Story
One of the more eye-catching moments in Moog’s recent history came on April 2, when the Artemis II mission launched successfully. Moog supplied thrust vector control systems, launch abort system actuators, and fluid control technologies for the mission.
Investors will be listening for any color on whether that high-profile role converts into additional NASA contracts or commercial space work.
The company also completed the $63 million acquisition of COTSWORKS, a maker of ruggedized fiber optic transceivers for aerospace and defense programs. The deal expands Moog’s capabilities in high-bandwidth digital data processing for compact defense platforms, and analysts will want to know how integration is progressing.
Growth Across All Three Segments
Moog’s spread across aerospace markets has been a key part of its story. In fiscal 2025, Space and Defense brought in $1.113 billion, Military Aircraft $888 million, and Commercial Aircraft $904 million. All three grew — Commercial Aircraft led at 15%, the other two at 9% each.
That kind of consistent, multi-segment growth is what pushed the stock up 84% over the past year, and why it now trades near its 52-week high of $354.20. Current price sits at $297.45.
The forward P/E of 29.69x and projected EPS growth of 41% show that expectations are high. Three of four analysts rate the stock a buy, with a consensus price target of $324.50 — implying around 9% upside from current levels.
EPS estimates have held flat over the past week and the past 60 days, pointing to steady analyst conviction heading into the print.
The gross profit margin stands at 27.3%, and the company’s ability to hold that while scaling output will be a key data point Friday.
Moog reports Q2 fiscal 2026 earnings on Friday, with analysts watching margin trends, backlog updates, and any guidance revision as the main focus.
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