Moog shares are trading lower after the company logged a smaller profit and weaker-than-expected adjusted earnings in the third quarter.
The stock was down 11%, at $99.97, in midday trading. Shares are up 14% since the start of the year.
The maker of precision control components and systems posted a quarterly profit of $42.4 million, or $1.32 a share, down from $50.4 million, or $1.57 a share, in the same period a year ago.
Stripping out one-time items, adjusted earnings were $1.37 a share. Analysts surveyed by FactSet had been expecting $1.47 a share.
Sales rose to $850.2 million from $772.9 million in the year-ago quarter, above analyst forecasts for $797.8 million, according to FactSet.
The East Aurora, N.Y.-based company raised its earnings and sales guidance for the year.
Earnings are now expected to be $5.82 a share for 2023, up by one cent from its prior outlook, and $5.75 a share on an adjusted basis, up by five cents from its previous forecast.
Sales are projected to be $3.25 billion, up from a prior estimate of $3.19 billion.