Moog (MOG) CJS Securities 26th Annual "New Ideas for the New Year” Investor Conference summary

Company overview and strategic positioning

• Focuses on motion and fluid control systems for aerospace, defense, industrial, and medical markets.

• Recognized for technical expertise and strong customer relationships, serving as a reliable long-term partner.

• Offers a broad product range, including hydraulic servo valves, electric motors, and electronic control systems.

• Celebrating 75 years, with a transformation plan from 2022–2026 aimed at higher profitability.

• Internal reorganization and pricing/simplification initiatives have improved financial and operational performance.

Defense market opportunities and risks

• Defense accounts for over 50% of business, with strong growth in missile programs and military aircraft.

• Missile business is growing over 20% annually, driven by global arsenal replenishment and new orders.

• Engaged in multiple hypersonics and collaborative combat aircraft programs, diversifying exposure.

• European defense spending is rising, boosting business in Germany and supporting new programs.

• Broad program exposure mitigates risk from individual cancellations; underlying demand seen as robust and long-term.

Commercial aerospace and industrial outlook

• Widebody aircraft programs are key, with production ramp-ups at Boeing and Airbus supporting growth.

• Aftermarket activity is strong due to increased aircraft utilization and aging fleets.

• Airbus orders are forecasted 18 months out, but short PO cycles can lead to higher inventory.

• No impact from A320 safety/production issues on widebody segment.