Latest news with #PatRoche
Business Journals
25-04-2025
- Business
- Business Journals
Moog CEO Pat Roche discusses plan for up to $20 million in tariff impacts
Tariffs are a big concern for Moog, which imports a significant amount of steel, aluminum and other materials and products into the U.S. Tariffs are a big concern for Moog, which imports a significant amount of steel, aluminum and other materials and products into the U.S. Moog Inc. (NYSE: MOG.A and MOG.B) is planning for up to $20 million in tariff impacts for its fiscal 2025. CEO Pat Roche addressed tariff concerns during a conference call with investors Friday morning. 'All told, we import about $200 million into the U.S.,' he said. Jennifer Walter, CFO, said the company expects tariffs to impact its commercial aircraft and industrial segments the most, due to the 25% tariffs on steel and aluminum. She said commercial aircraft has a broad global supply chain, and the medical business with the industrial segment sources from a Moog facility in Costa Rica, which is subject to tariffs. 'After considering the actions we're taking to offset these risks, and assuming current conditions persist, we're estimating the potential for $10 million to $20 million of net pressure on our operating profit guidance for fiscal year 2025,' she said. To mitigate the impact, Roche said, Moog will maximize its utilization of the U.S.-Mexico-Canada agreement, create more efficient administration of imports and exports of repair goods that have to return to the U.S., and make price adjustments when necessary. He said the company will also evaluate its manufacturing footprint and supply chain, but it 'will not act in haste.' 'We've tried to model out what potentially could happen based on the imports that we have and the current rate of tariffs, but they change sometimes day by day,' Roche told investors. 'So, there's no certainty in this. I think there will be negotiations on an ongoing basis — on a country basis, but also people lobbying for certain industries, and you saw that with automotive.' Roche said that Moog has spent decades building out manufacturing facilities and global supply chain partnerships in an environment 'that was relatively free of tariffs.' The company has manufacturing sites in the Philippines, India, Ireland, Costa Rica, Germany and the United Kingdom. 'The changes in U.S. tariffs within the last 100 days, especially since April 2, could alter the context in which we operate,' he said. Despite concern over tariffs, Moog reiterated its revenue guidance of $3.7 billion for fiscal year 2025, while reporting its second-quarter earnings Friday. Second-quarter sales were $935 million, up 3% over the same quarter last year.
Yahoo
30-01-2025
- Business
- Yahoo
Moog Inc. to Present at TD Cowen's 46th Annual Aerospace and Defense Conference
EAST AURORA, N.Y., January 30, 2025--(BUSINESS WIRE)--Moog Inc. (NYSE: MOG.A and MOG.B) announced today that Pat Roche, CEO, and Jennifer Walter, CFO, will present at the 46th Annual TD Cowen Aerospace and Defense Conference on Wednesday, February 12th, 2025 at 1:20 p.m. ET. A live audio webcast of the event will be available on the Moog Investor Relations website at A replay of the webcast will be available following the presentation and will be archived on the website for 90 days. About Moog Inc. Moog is a worldwide designer, manufacturer, and systems integrator of high-performance precision motion and fluid controls and control systems. Moog's high-performance systems control military and commercial aircraft, satellites, and space vehicles, launch vehicles, defense systems, missiles, automated industrial machinery, marine and medical equipment. Additional information about the Company can be found at View source version on Contacts Aaron Astrachan716.687.4225 Sign in to access your portfolio
