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Moog reported Q3 FY2026 revenue of $1.1 billion, up 15.2% from $969.6 million a year earlier. Diluted earnings per share rose to $4.74 from $1.87.
The company said sales increased across all four segments. In Space and Defense, Moog attributed growth to defense demand, particularly for space vehicles and missile controls. The filing said Industrial sales benefited from demand for data-center cooling pumps, medical devices and energy products, as well as currency translation.
Gross margin rose to 31.1% from 27.5%, which Moog attributed to IEEPA tariff refund claims across its segments and business performance. Operating margin increased to 14.4% from 10.6%. The company also said its effective tax rate fell after a re-evaluation and adjustment of domestic research and development tax credits.
Moog reported free cash flow of $132.6 million, compared with $79.1 million a year earlier.
| Q3 FY2026 | Q3 FY2025 | Change | |
|---|---|---|---|
| Revenue | $1.1 billion | $969.6 million | 15.2% |
| Diluted EPS | $4.74 | $1.87 | 153.5% |
| Gross margin | 31.1% | 27.5% | 3.6 percentage points |
| Operating margin | 14.4% | 10.6% | 3.9 percentage points |
| Free cash flow | $132.6 million | $79.1 million | 67.5% |
What management said on the call
In its filing, Moog said its twelve-month backlog increased from a year earlier, with higher orders for commercial and military aircraft and across Space and Defense. The company attributed Industrial’s backlog increase primarily to demand for data-center cooling pumps.
Guidance
Moog said future levels of defense spending have increased in the near term but remain subject to governmental approvals. The company said its commercial aircraft market aligns with its customers’ plans.