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Yahoo
5 days ago
- Business
- Yahoo
Moog Inc. Reports Third Quarter 2025 Results With Both Record Sales and Earnings Per Share
EAST AURORA, N.Y., July 25, 2025--(BUSINESS WIRE)--Moog Inc. (NYSE: MOG.A and MOG.B), a worldwide designer, manufacturer and systems integrator of high-performance precision motion and fluid controls and control systems, today reported fiscal third quarter 2025 net sales of $971 million, diluted earnings per share of $1.87 and adjusted diluted earnings per share of $2.37, all records, reflecting business growth and simplified operations. (in millions, except per share results) Three Months Ended Q3 2025 Q3 2024 Deltas Net sales $ 971 $ 905 7 % Operating margin 11.5 % 11.6 % (10) bps Adjusted operating margin 13.6 % 12.3 % 130 bps Diluted net earnings per share $ 1.87 $ 1.74 7 % Adjusted diluted net earnings per share $ 2.37 $ 1.91 24 % Net cash provided (used) by operating activities $ 125 $ 30 $ 95 Free cash flow $ 93 $ (2 ) $ 95 See the reconciliations of adjusted financial results and free cash flow to reported results included in the financial statements herein for the periods ended June 28, 2025 and June 29, 2024. Quarter Highlights Net sales increased to a record level, led by strength in Commercial Aircraft, Space and Defense, and Military Aircraft. Industrial declined due to divestitures completed at the beginning of this fiscal year. Operating margin was relatively unchanged as charges for a program termination and charges for simplification initiatives offset stronger operational performance. Adjusted operating margin increased due to the benefit from the sale of intellectual property and inventory associated with a non-core product line and a favorable sales mix, partially offset by tariff pressure. Diluted net earnings per share increased as strong operational performance was partially offset by higher charges for a program termination and charges for simplification initiatives. Adjusted diluted net earnings per share increased reflecting margin expansion and incremental profit from higher sales. Free cash flow improved with a conversion greater than 120%. Twelve-month backlog was at a record level of $2.7 billion with growth primarily driven by Military Aircraft and Space and Defense. Acquired COTSWORKS after quarter-end, strengthening the Space and Defense product portfolio. "We have just delivered another quarter of record financial results, reflective of our unrelenting focus on driving improved business performance," said Pat Roche, CEO. "Our teams across the company continue advancing our simplification strategies, and our value proposition to our customers has resulted in strong order intake and a record 12-month backlog. Our employees are driving change and our business is strong, giving us confidence as we look to 2026." Segment Results Sales in the third quarter increased 7% to a record $971 million. Sales growth was led by Commercial Aircraft, which increased 16% on strong aftermarket demand. Space and Defense sales increased 11%, reflecting broad-based demand including satellite components and missile control programs. Military Aircraft sales increased 8%, driven by continued ramp-up on the FLRAA program. Industrial sales declined 4% due to previously completed divestitures. Operating margin in the third quarter was 11.5%, down 10 basis points from the prior year. Military Aircraft operating margin declined 360 basis points to 8.0%, primarily due to charges tied to the termination of a product development effort, along with a less favorable sales mix and increased research and development investment in future programs. Industrial operating margin declined 20 basis points to 9.6%, reflecting charges related to portfolio shaping, facility rationalization and an investment impairment, as well as pressures from tariffs, and were partially offset by the benefit from simplification initiatives. Partially offsetting these declines was an increase in Commercial Aircraft operating margin of 200 basis points to 14.9%, supported by the benefit from the sale of a non-core product line and by record aftermarket sales, partially offset by pressures from tariffs and OEM customers' production delays. In addition, Space and Defense operating margin increased 70 basis points to 13.3%, driven by profitable sales growth. Adjusted operating margin excludes charges of $20 million and $6 million in the third quarters of 2025 and 2024, respectively, which primarily relate to simplification initiatives and a program termination. Excluding these charges, total company adjusted operating margin increased 130 basis points from 12.3% to 13.6%. Commercial Aircraft adjusted operating margin increased 180 basis points to 14.9%, supported by the benefit from the sale of a non-core product line and by record aftermarket sales, partially offset by pressures from tariffs and OEM customers' production delays. Industrial adjusted operating margin improved 180 basis points to 13.5%, supported by the benefit of the simplification initiatives, including divestitures completed at the start of the year, partially offset by tariff pressure. Space and Defense adjusted operating margin increased 140 basis points to 14.1%, driven by profitable sales growth. Partially offsetting the increases was a decrease in Military Aircraft adjusted operating margin of 30 basis points to 11.6%, due to a less favorable program sales mix and increased research and development investment. Free Cash Flow Results Free cash flow for the quarter was $93 million, driven by strong earnings and cash provided by changes in working capital. Capital expenditures were $33 million. 2025 Financial Guidance "We are increasing our sales guidance from 90 days ago based on the strength of the business. We are updating our adjusted operating margin guidance to reflect the expected pressures associated with tariffs and the underlying strength in our business. We are also moderating our free cash flow guidance based on working capital needs to support our elevated growth," said Jennifer Walter, CFO. "We're on track to close out a record year for sales in 2025. Our business is strong, and we're continuing to expand our operating margin and generate an increasing level of free cash flow." FY 2025 Guidance (1) Current Previous Net sales (in billions) $ 3.8 $ 3.7 Operating margin 11.9 % 12.7 % Adjusted operating margin 12.8 % 13.0 % Diluted net earnings per share(2) $ 7.44 $ 7.89 Adjusted diluted net earnings per share(2) $ 8.25 $ 8.20 Free cash flow conversion 30 - 50 % 50 % (1) Current guidance now includes the net tariff pressures, while the previous guidance excluded it.(2) Diluted net earnings per share and Adjusted diluted net earnings per share figures are forecasted to be within range of +/- $0.10. Conference call information In conjunction with today's release, Pat Roche, CEO, and Jennifer Walter, CFO, will host a conference call today beginning at 10:00 a.m. ET, which will be simultaneously broadcast live online. Listeners can access the call and supplemental financial materials at Cautionary Statement This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which can be identified by words such as: "may," "will," "should," "believes," "expects," "expected," "intends," "plans," "projects," "approximate," "estimates," "predicts," "potential," "outlook," "forecast," "anticipates," "presume," "assume" and other words and terms of similar meaning (including their negative counterparts or other various or comparable terminology). These forward-looking statements are made pursuant to the Private Securities Litigation Reform Act of 1995, are neither historical facts nor guarantees of future performance and are subject to several factors, risks and uncertainties, the impact or occurrence of which could cause actual results to differ materially from the expected results described in the forward-looking statements. Although it is not possible to create a comprehensive list of all factors that may cause our actual results to differ from the results expressed or implied by our forward-looking statements or that may affect our future results, some of these factors and other risks and uncertainties are described in Item 1A "Risk Factors" of our Annual Report on Form 10-K and in our other periodic filings with the Securities and Exchange Commission ("SEC") and include, but are not limited to, risks relating to: (i) our operation in highly competitive markets with competitors who may have greater resources than we possess; (ii) our operation in cyclical markets that are sensitive to domestic and foreign economic conditions and events; (iii) our heavy dependence on government contracts that may not be fully funded or may be terminated; (iv) supply chain constraints and inflationary impacts on prices for raw materials and components used in our products; (v) failure of our subcontractors or suppliers to perform their contractual obligations; and (vi) our accounting estimations for over-time contracts and any changes we need to make thereto. You should evaluate all forward-looking statements made in this press release in the context of these risks and uncertainties. While we believe we have identified and discussed in our SEC filings the material risks affecting our business, there may be additional factors, risks and uncertainties not currently known to us or that we currently consider immaterial that may affect the forward-looking statements we make herein. Given these factors, risks and uncertainties, investors should not place undue reliance on forward-looking statements as predictive of future results. Any forward-looking statement speaks only as of the date on which it is made, and we disclaim any obligation to update any forward-looking statement made in this press release, except as required by applicable law. Moog STATEMENTS OF EARNINGS (UNAUDITED)(dollars in thousands, except per share data) Three Months Ended Nine Months Ended June 28, 2025 June 29,2024 June 28, 2025 June 29,2024 Net sales $ 971,363 $ 904,735 $ 2,816,518 $ 2,691,888 Cost of sales 699,685 651,672 2,044,373 1,938,673 Inventory write-down 5,839 1,600 7,988 1,775 Gross profit 265,839 251,463 764,157 751,440 Research and development 21,906 27,791 69,992 86,752 Selling, general and administrative 138,801 126,361 399,684 370,047 Interest 17,790 18,153 54,340 52,850 Asset impairment 3,000 112 3,000 6,862 Restructuring 2,850 3,984 9,059 12,623 Other 3,510 4,157 7,942 10,041 Earnings before income taxes 77,982 70,905 220,140 212,265 Income taxes 18,275 14,545 51,566 48,090 Net earnings $ 59,707 $ 56,360 $ 168,574 $ 164,175 Net earnings per share Basic $ 1.89 $ 1.76 $ 5.32 $ 5.14 Diluted $ 1.87 $ 1.74 $ 5.25 $ 5.08 Weighted average common shares outstanding Basic 31,524,999 31,960,165 31,684,945 31,943,365 Diluted 31,896,949 32,409,370 32,082,186 32,342,700 Moog TO ADJUSTED NET EARNINGS BEFORE TAXES, INCOMES TAXES, NET EARNINGS AND DILUTED NET EARNINGS PER SHARE (UNAUDITED)(dollars in thousands) Three Months Ended Nine Months Ended June 28, 2025 June 29,2024 June 28, 2025 June 29,2024 As Reported: Earnings before income taxes $ 77,982 $ 70,905 $ 220,140 $ 212,265 Income taxes 18,275 14,545 51,566 48,090 Effective income tax rate 23.4 % 20.5 % 23.4 % 22.7 % Net earnings 59,707 56,360 168,574 164,175 Diluted net earnings per share $ 1.87 $ 1.74 $ 5.25 $ 5.08 Program Terminations1 Earnings before income taxes $ 8,065 $ — $ 8,065 $ 1,992 Income taxes 1,903 — 1,903 470 Net earnings 6,162 — 6,162 1,522 Diluted net earnings per share $ 0.19 $ — $ 0.19 $ 0.05 Simplification Initiatives2 Earnings before income taxes $ 6,805 $ 5,818 $ 18,204 $ 14,457 Income taxes 1,647 1,502 4,487 3,654 Net earnings 5,158 4,316 13,717 10,803 Diluted net earnings per share $ 0.16 $ 0.13 $ 0.43 $ 0.33 Investment Losses3 Earnings before income taxes $ 3,000 $ — $ 3,000 $ 5,294 Income taxes — (1,249 ) — — Net earnings 3,000 1,249 3,000 5,294 Diluted net earnings per share $ 0.09 $ 0.04 $ 0.09 $ 0.16 Acquisition and Integration4 Earnings before income taxes $ 481 $ — $ 481 $ — Income taxes 113 — 113 — Net earnings 368 — 368 — Diluted net earnings per share $ 0.01 $ — $ 0.01 $ — Other Charges5 Earnings before income taxes $ 1,462 $ 111 $ 3,462 $ 415 Income taxes 344 26 817 98 Net earnings 1,118 85 2,645 317 Diluted net earnings per share $ 0.04 $ — $ 0.08 $ 0.01 As Adjusted: Earnings before income taxes $ 97,795 $ 76,834 $ 253,352 $ 234,423 Income taxes 22,282 14,824 58,886 52,312 Effective income tax rate 22.8 % 19.3 % 23.2 % 22.3 % Net earnings 75,513 62,010 194,466 182,111 Diluted net earnings per share $ 2.37 $ 1.91 $ 6.06 $ 5.63 The diluted net earnings per share associated with the adjustments in the table above may not reconcile when totaled due to rounding.1 Charges include costs related to the termination of significant development, production, or support programs, such as write-off and impairments or inventory and long-lived assets, contract termination costs, and other charges.2 Charges include costs related to footprint rationalization, portfolio shaping and legal entity re-organization activities, such as facility closure costs, employee severance and retention costs, write-off and impairments of inventory and long-lived assets, and other charges.3 Charges include impairment losses on minority investments.4 Charges include costs related to acquisition such as amortization of inventory fair value step-up and professional services fees. Charges also include costs related to integrating the businesses, such as employee severance and retention costs, professional services fees, legal entity and facility rationalization costs and other related charges.5 Other charges include business interruptions from natural causes, litigation matters, and other items that are not part of normal operations. While management believes that these adjusted financial measures may be useful in evaluating the financial condition and results of operations of the Company, this information should be considered supplemental and is not a substitute for financial information prepared in accordance with GAAP. Moog SALES AND OPERATING PROFIT (UNAUDITED)(dollars in thousands) Three Months Ended Nine Months Ended June 28, 2025 June 29,2024 June 28, 2025 June 29,2024 Net sales: Space and Defense $ 287,705 $ 258,409 $ 805,673 $ 755,324 Military Aircraft 224,662 207,177 651,931 595,921 Commercial Aircraft 219,436 189,365 656,740 591,181 Industrial 239,560 249,784 702,174 749,462 Net sales $ 971,363 $ 904,735 $ 2,816,518 $ 2,691,888 Operating profit: Space and Defense $ 38,261 $ 32,635 $ 99,581 $ 100,175 13.3 % 12.6 % 12.4 % 13.3 % Military Aircraft 17,994 23,965 64,632 60,323 8.0 % 11.6 % 9.9 % 10.1 % Commercial Aircraft 32,623 24,367 82,418 69,838 14.9 % 12.9 % 12.5 % 11.8 % Industrial 22,989 24,413 75,700 81,592 9.6 % 9.8 % 10.8 % 10.9 % Total operating profit 111,867 105,380 322,331 311,928 11.5 % 11.6 % 11.4 % 11.6 % Deductions from operating profit: Interest expense 17,790 18,153 54,340 52,850 Equity-based compensation expense 4,649 4,089 12,669 11,301 Non-service pension expense 1,970 3,188 5,855 9,566 Corporate and other expenses, net 9,476 9,045 29,327 25,946 Earnings before income taxes $ 77,982 $ 70,905 $ 220,140 $ 212,265 Moog TO ADJUSTED OPERATING PROFIT AND MARGINS (UNAUDITED)(dollars in thousands) Three Months Ended Nine Months Ended June 28, 2025 June 29,2024 June 28, 2025 June 29,2024 Space and Defense operating profit - as reported $ 38,261 $ 32,635 $ 99,581 $ 100,175 Simplification Initiatives 406 — 2,474 — Acquisition Integration 481 — 481 — Other charges 1,462 112 1,462 416 Space and Defense operating profit - as adjusted $ 40,610 $ 32,747 $ 103,998 $ 100,591 14.1 % 12.7 % 12.9 % 13.3 % Military Aircraft operating profit - as reported $ 17,994 $ 23,965 $ 64,632 $ 60,323 Program terminations 8,065 — 8,065 1,992 Simplification Initiatives — 609 591 3,732 Investment losses — — — 5,294 Other charges — — 2,000 — Military Aircraft operating profit - as adjusted $ 26,059 $ 24,574 $ 75,288 $ 71,341 11.6 % 11.9 % 11.5 % 12.0 % Commercial Aircraft operating profit - as reported $ 32,623 $ 24,367 $ 82,418 $ 69,838 Simplification Initiatives — 408 — 408 Commercial Aircraft operating profit - as adjusted $ 32,623 $ 24,775 $ 82,418 $ 70,246 14.9 % 13.1 % 12.5 % 11.9 % Industrial operating profit - as reported $ 22,989 $ 24,413 $ 75,700 $ 81,592 Simplification Initiatives 6,399 4,800 15,139 10,316 Investment losses 3,000 — 3,000 — Industrial operating profit - as adjusted $ 32,388 $ 29,213 $ 93,839 $ 91,908 13.5 % 11.7 % 13.4 % 12.3 % Total operating profit - as adjusted $ 131,680 $ 111,309 $ 355,543 $ 334,086 13.6 % 12.3 % 12.6 % 12.4 % While management believes that these adjusted financial measures may be useful in evaluating the financial condition and results of operations of the Company, this information should be considered supplemental and is not a substitute for financial information prepared in accordance with GAAP Moog BALANCE SHEETS (UNAUDITED)(dollars in thousands) June 28, 2025 September 28,2024 ASSETS Current assets Cash and cash equivalents $ 58,191 $ 61,694 Restricted cash 823 123 Receivables, net 529,753 419,971 Unbilled receivables 734,976 709,014 Inventories, net 924,682 863,702 Prepaid expenses and other current assets 153,479 86,245 Total current assets 2,401,904 2,140,749 Property, plant and equipment, net 988,125 929,357 Operating lease right-of-use assets 52,877 52,591 Goodwill 802,089 833,764 Intangible assets, net 57,182 63,479 Deferred income taxes 37,701 20,991 Other assets 56,696 52,695 Total assets $ 4,396,574 $ 4,093,626 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Accounts payable $ 289,160 $ 292,988 Accrued compensation 98,292 101,127 Contract advances and progress billings 298,648 299,732 Accrued liabilities and other 302,514 305,180 Total current liabilities 988,614 999,027 Long-term debt, excluding current installments 1,081,674 874,139 Long-term pension and retirement obligations 177,688 167,161 Deferred income taxes 27,664 27,738 Other long-term liabilities 177,233 164,928 Total liabilities 2,452,873 2,232,993 Shareholders' equity Common stock - Class A 43,864 43,835 Common stock - Class B 7,416 7,445 Additional paid-in capital 769,935 784,509 Retained earnings 2,810,050 2,668,723 Treasury shares (1,205,305 ) (1,082,240 ) Stock Employee Compensation Trust (173,214 ) (194,049 ) Supplemental Retirement Plan Trust (147,042 ) (163,821 ) Accumulated other comprehensive loss (162,003 ) (203,769 ) Total shareholders' equity 1,943,701 1,860,633 Total liabilities and shareholders' equity $ 4,396,574 $ 4,093,626 Moog STATEMENTS OF CASH FLOWS (UNAUDITED)(dollars in thousands) Nine Months Ended June 28, 2025 June 29,2024 CASH FLOWS FROM OPERATING ACTIVITIES Net earnings $ 168,574 $ 164,175 Adjustments to reconcile net earnings to net cash provided (used) by operating activities: Depreciation 69,292 64,302 Amortization 6,996 7,677 Deferred income taxes (18,645 ) (26,483 ) Equity-based compensation expense 12,669 11,301 Asset impairment and inventory write-down 10,988 8,637 Other 4,399 5,374 Changes in assets and liabilities providing (using) cash: Receivables (105,346 ) (18,677 ) Unbilled receivables (35,174 ) (57,723 ) Inventories (64,095 ) (105,629 ) Accounts payable (3,301 ) 918 Contract advances and progress billings 8,798 (26,882 ) Accrued expenses (6,645 ) 36,928 Accrued income taxes (22,669 ) 9,832 Net pension and post retirement liabilities 15,563 8,783 Other assets and liabilities (8,941 ) (35,978 ) Net cash provided (used) by operating activities 32,463 46,555 CASH FLOWS FROM INVESTING ACTIVITIES Acquisitions of businesses, net of cash acquired — (5,911 ) Purchase of property, plant and equipment (103,041 ) (109,616 ) Net proceeds from businesses sold 13,487 1,627 Other investing transactions (2,844 ) (646 ) Net cash provided (used) by investing activities (92,398 ) (114,546 ) CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from revolving lines of credit 957,500 784,500 Payments on revolving lines of credit (1,001,500 ) (691,000 ) Proceeds from long-term debt 250,000 — Payments on finance lease obligations (7,194 ) (4,468 ) Payment of dividends (27,247 ) (26,521 ) Proceeds from sale of treasury stock 10,970 7,579 Purchase of outstanding shares for treasury (127,808 ) (21,832 ) Proceeds from sale of stock held by SECT 20,287 16,670 Purchase of stock held by SECT (18,505 ) (14,296 ) Other financing transactions (1,600 ) — Net cash provided (used) by financing activities 54,903 50,632 Effect of exchange rate changes on cash (491 ) (267 ) Increase (decrease) in cash, cash equivalents and restricted cash (5,523 ) (17,626 ) Cash, cash equivalents and restricted cash at beginning of year (1) 64,537 69,144 Cash, cash equivalents and restricted cash at end of period $ 59,014 $ 51,518 (1) Beginning of year cash balance at September 29, 2024 includes cash related to assets held for sale of $2,720. Moog OF NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES TO FREE CASH FLOW (UNAUDITED)(dollars in thousands) Three Months Ended Nine Months Ended June 28, 2025 June 29,2024 June 28, 2025 June 29,2024 Net cash provided (used) by operating activities $ 125,325 $ 30,166 $ 32,463 $ 46,555 Purchase of property, plant and equipment (32,659 ) (32,086 ) (103,041 ) (109,616 ) Receivables Purchase Agreement — — — (25,000 ) Free cash flow $ 92,666 $ (1,920 ) $ (70,578 ) $ (88,061 ) Adjusted net earnings $ 75,513 $ 62,010 $ 194,466 $ 182,111 Free cash flow conversion 123 % (3 )% (36 )% (48 )% Free cash flow is defined as net cash provided (used) by operating activities, less purchase of property, plant and equipment, less the benefit from the Receivables Purchase Agreement. Free cash flow conversion is defined as free cash flow divided by adjusted net earnings. Free cash flow and free cash flow conversion are not measures determined in accordance with GAAP and may not be comparable with the measures as used by other companies. However, management believes these adjusted financial measures may be useful in evaluating the liquidity, financial condition and results of operations of the Company. This information should be considered supplemental and is not a substitute for financial information prepared in accordance with GAAP. View source version on Contacts Aaron Astrachan716.687.4225 Sign in to access your portfolio
Business Wire
5 days ago
- Business
- Business Wire
Moog Inc. Reports Third Quarter 2025 Results With Both Record Sales and Earnings Per Share
EAST AURORA, N.Y.--(BUSINESS WIRE)--Moog Inc. (NYSE: MOG.A and MOG.B), a worldwide designer, manufacturer and systems integrator of high-performance precision motion and fluid controls and control systems, today reported fiscal third quarter 2025 net sales of $971 million, diluted earnings per share of $1.87 and adjusted diluted earnings per share of $2.37, all records, reflecting business growth and simplified operations. (in millions, except per share results) Q3 2024 Deltas Net sales $ 971 $ 905 7 % Operating margin 11.5 % 11.6 % (10) bps Adjusted operating margin 13.6 % 12.3 % 130 bps Diluted net earnings per share $ 1.87 $ 1.74 7 % Adjusted diluted net earnings per share $ 2.37 $ 1.91 24 % Net cash provided (used) by operating activities $ 125 $ 30 $ 95 Free cash flow $ 93 $ (2 ) $ 95 See the reconciliations of adjusted financial results and free cash flow to reported results included in the financial statements herein for the periods ended June 28, 2025 and June 29, 2024. Expand Quarter Highlights Net sales increased to a record level, led by strength in Commercial Aircraft, Space and Defense, and Military Aircraft. Industrial declined due to divestitures completed at the beginning of this fiscal year. Operating margin was relatively unchanged as charges for a program termination and charges for simplification initiatives offset stronger operational performance. Adjusted operating margin increased due to the benefit from the sale of intellectual property and inventory associated with a non-core product line and a favorable sales mix, partially offset by tariff pressure. Diluted net earnings per share increased as strong operational performance was partially offset by higher charges for a program termination and charges for simplification initiatives. Adjusted diluted net earnings per share increased reflecting margin expansion and incremental profit from higher sales. Free cash flow improved with a conversion greater than 120%. Twelve-month backlog was at a record level of $2.7 billion with growth primarily driven by Military Aircraft and Space and Defense. Acquired COTSWORKS after quarter-end, strengthening the Space and Defense product portfolio. "We have just delivered another quarter of record financial results, reflective of our unrelenting focus on driving improved business performance," said Pat Roche, CEO. "Our teams across the company continue advancing our simplification strategies, and our value proposition to our customers has resulted in strong order intake and a record 12-month backlog. Our employees are driving change and our business is strong, giving us confidence as we look to 2026." Segment Results Sales in the third quarter increased 7% to a record $971 million. Sales growth was led by Commercial Aircraft, which increased 16% on strong aftermarket demand. Space and Defense sales increased 11%, reflecting broad-based demand including satellite components and missile control programs. Military Aircraft sales increased 8%, driven by continued ramp-up on the FLRAA program. Industrial sales declined 4% due to previously completed divestitures. Operating margin in the third quarter was 11.5%, down 10 basis points from the prior year. Military Aircraft operating margin declined 360 basis points to 8.0%, primarily due to charges tied to the termination of a product development effort, along with a less favorable sales mix and increased research and development investment in future programs. Industrial operating margin declined 20 basis points to 9.6%, reflecting charges related to portfolio shaping, facility rationalization and an investment impairment, as well as pressures from tariffs, and were partially offset by the benefit from simplification initiatives. Partially offsetting these declines was an increase in Commercial Aircraft operating margin of 200 basis points to 14.9%, supported by the benefit from the sale of a non-core product line and by record aftermarket sales, partially offset by pressures from tariffs and OEM customers' production delays. In addition, Space and Defense operating margin increased 70 basis points to 13.3%, driven by profitable sales growth. Adjusted operating margin excludes charges of $20 million and $6 million in the third quarters of 2025 and 2024, respectively, which primarily relate to simplification initiatives and a program termination. Excluding these charges, total company adjusted operating margin increased 130 basis points from 12.3% to 13.6%. Commercial Aircraft adjusted operating margin increased 180 basis points to 14.9%, supported by the benefit from the sale of a non-core product line and by record aftermarket sales, partially offset by pressures from tariffs and OEM customers' production delays. Industrial adjusted operating margin improved 180 basis points to 13.5%, supported by the benefit of the simplification initiatives, including divestitures completed at the start of the year, partially offset by tariff pressure. Space and Defense adjusted operating margin increased 140 basis points to 14.1%, driven by profitable sales growth. Partially offsetting the increases was a decrease in Military Aircraft adjusted operating margin of 30 basis points to 11.6%, due to a less favorable program sales mix and increased research and development investment. Free Cash Flow Results Free cash flow for the quarter was $93 million, driven by strong earnings and cash provided by changes in working capital. Capital expenditures were $33 million. 2025 Financial Guidance 'We are increasing our sales guidance from 90 days ago based on the strength of the business. We are updating our adjusted operating margin guidance to reflect the expected pressures associated with tariffs and the underlying strength in our business. We are also moderating our free cash flow guidance based on working capital needs to support our elevated growth," said Jennifer Walter, CFO. "We're on track to close out a record year for sales in 2025. Our business is strong, and we're continuing to expand our operating margin and generate an increasing level of free cash flow." Conference call information In conjunction with today's release, Pat Roche, CEO, and Jennifer Walter, CFO, will host a conference call today beginning at 10:00 a.m. ET, which will be simultaneously broadcast live online. Listeners can access the call and supplemental financial materials at Cautionary Statement This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which can be identified by words such as: 'may,' 'will,' 'should,' 'believes,' 'expects,' 'expected,' 'intends,' 'plans,' 'projects,' 'approximate,' 'estimates,' 'predicts,' 'potential,' 'outlook,' 'forecast,' 'anticipates,' 'presume,' 'assume' and other words and terms of similar meaning (including their negative counterparts or other various or comparable terminology). These forward-looking statements are made pursuant to the Private Securities Litigation Reform Act of 1995, are neither historical facts nor guarantees of future performance and are subject to several factors, risks and uncertainties, the impact or occurrence of which could cause actual results to differ materially from the expected results described in the forward-looking statements. Although it is not possible to create a comprehensive list of all factors that may cause our actual results to differ from the results expressed or implied by our forward-looking statements or that may affect our future results, some of these factors and other risks and uncertainties are described in Item 1A 'Risk Factors' of our Annual Report on Form 10-K and in our other periodic filings with the Securities and Exchange Commission ('SEC') and include, but are not limited to, risks relating to: (i) our operation in highly competitive markets with competitors who may have greater resources than we possess; (ii) our operation in cyclical markets that are sensitive to domestic and foreign economic conditions and events; (iii) our heavy dependence on government contracts that may not be fully funded or may be terminated; (iv) supply chain constraints and inflationary impacts on prices for raw materials and components used in our products; (v) failure of our subcontractors or suppliers to perform their contractual obligations; and (vi) our accounting estimations for over-time contracts and any changes we need to make thereto. You should evaluate all forward-looking statements made in this press release in the context of these risks and uncertainties. While we believe we have identified and discussed in our SEC filings the material risks affecting our business, there may be additional factors, risks and uncertainties not currently known to us or that we currently consider immaterial that may affect the forward-looking statements we make herein. Given these factors, risks and uncertainties, investors should not place undue reliance on forward-looking statements as predictive of future results. Any forward-looking statement speaks only as of the date on which it is made, and we disclaim any obligation to update any forward-looking statement made in this press release, except as required by applicable law. Three Months Ended Nine Months Ended June 28, 2025 June 29, 2024 June 28, 2025 June 29, 2024 As Reported: Earnings before income taxes $ 77,982 $ 70,905 $ 220,140 $ 212,265 Income taxes 18,275 14,545 51,566 48,090 Effective income tax rate 23.4 % 20.5 % 23.4 % 22.7 % Net earnings 59,707 56,360 168,574 164,175 Diluted net earnings per share $ 1.87 $ 1.74 $ 5.25 $ 5.08 Program Terminations 1 Earnings before income taxes $ 8,065 $ — $ 8,065 $ 1,992 Income taxes 1,903 — 1,903 470 Net earnings 6,162 — 6,162 1,522 Diluted net earnings per share $ 0.19 $ — $ 0.19 $ 0.05 Simplification Initiatives 2 Earnings before income taxes $ 6,805 $ 5,818 $ 18,204 $ 14,457 Income taxes 1,647 1,502 4,487 3,654 Net earnings 5,158 4,316 13,717 10,803 Diluted net earnings per share $ 0.16 $ 0.13 $ 0.43 $ 0.33 Investment Losses 3 Earnings before income taxes $ 3,000 $ — $ 3,000 $ 5,294 Income taxes — (1,249 ) — — Net earnings 3,000 1,249 3,000 5,294 Diluted net earnings per share $ 0.09 $ 0.04 $ 0.09 $ 0.16 Acquisition and Integration 4 Earnings before income taxes $ 481 $ — $ 481 $ — Income taxes 113 — 113 — Net earnings 368 — 368 — Diluted net earnings per share $ 0.01 $ — $ 0.01 $ — Other Charges 5 Earnings before income taxes $ 1,462 $ 111 $ 3,462 $ 415 Income taxes 344 26 817 98 Net earnings 1,118 85 2,645 317 Diluted net earnings per share $ 0.04 $ — $ 0.08 $ 0.01 As Adjusted: Earnings before income taxes $ 97,795 $ 76,834 $ 253,352 $ 234,423 Income taxes 22,282 14,824 58,886 52,312 Effective income tax rate 22.8 % 19.3 % 23.2 % 22.3 % Net earnings 75,513 62,010 194,466 182,111 Diluted net earnings per share $ 2.37 $ 1.91 $ 6.06 $ 5.63 The diluted net earnings per share associated with the adjustments in the table above may not reconcile when totaled due to rounding. 1 Charges include costs related to the termination of significant development, production, or support programs, such as write-off and impairments or inventory and long-lived assets, contract termination costs, and other charges. 2 Charges include costs related to footprint rationalization, portfolio shaping and legal entity re-organization activities, such as facility closure costs, employee severance and retention costs, write-off and impairments of inventory and long-lived assets, and other charges. 3 Charges include impairment losses on minority investments. 4 Charges include costs related to acquisition such as amortization of inventory fair value step-up and professional services fees. Charges also include costs related to integrating the businesses, such as employee severance and retention costs, professional services fees, legal entity and facility rationalization costs and other related charges. 5 Other charges include business interruptions from natural causes, litigation matters, and other items that are not part of normal operations. Expand While management believes that these adjusted financial measures may be useful in evaluating the financial condition and results of operations of the Company, this information should be considered supplemental and is not a substitute for financial information prepared in accordance with GAAP. Moog Inc. (dollars in thousands) Three Months Ended Nine Months Ended June 28, 2025 June 29, 2024 June 28, 2025 June 29, 2024 Space and Defense operating profit - as reported $ 38,261 $ 32,635 $ 99,581 $ 100,175 Simplification Initiatives 406 — 2,474 — Acquisition Integration 481 — 481 — Other charges 1,462 112 1,462 416 Space and Defense operating profit - as adjusted $ 40,610 $ 32,747 $ 103,998 $ 100,591 14.1 % 12.7 % 12.9 % 13.3 % Military Aircraft operating profit - as reported $ 17,994 $ 23,965 $ 64,632 $ 60,323 Program terminations 8,065 — 8,065 1,992 Simplification Initiatives — 609 591 3,732 Investment losses — — — 5,294 Other charges — — 2,000 — Military Aircraft operating profit - as adjusted $ 26,059 $ 24,574 $ 75,288 $ 71,341 11.6 % 11.9 % 11.5 % 12.0 % Commercial Aircraft operating profit - as reported $ 32,623 $ 24,367 $ 82,418 $ 69,838 Simplification Initiatives — 408 — 408 Commercial Aircraft operating profit - as adjusted $ 32,623 $ 24,775 $ 82,418 $ 70,246 14.9 % 13.1 % 12.5 % 11.9 % Industrial operating profit - as reported $ 22,989 $ 24,413 $ 75,700 $ 81,592 Simplification Initiatives 6,399 4,800 15,139 10,316 Investment losses 3,000 — 3,000 — Industrial operating profit - as adjusted $ 32,388 $ 29,213 $ 93,839 $ 91,908 13.5 % 11.7 % 13.4 % 12.3 % Expand While management believes that these adjusted financial measures may be useful in evaluating the financial condition and results of operations of the Company, this information should be considered supplemental and is not a substitute for financial information prepared in accordance with GAAP June 28, 2025 September 28, 2024 ASSETS Current assets Cash and cash equivalents $ 58,191 $ 61,694 Restricted cash 823 123 Receivables, net 529,753 419,971 Unbilled receivables 734,976 709,014 Inventories, net 924,682 863,702 Prepaid expenses and other current assets 153,479 86,245 Total current assets 2,401,904 2,140,749 Property, plant and equipment, net 988,125 929,357 Operating lease right-of-use assets 52,877 52,591 Goodwill 802,089 833,764 Intangible assets, net 57,182 63,479 Deferred income taxes 37,701 20,991 Other assets 56,696 52,695 Total assets $ 4,396,574 $ 4,093,626 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Accounts payable $ 289,160 $ 292,988 Accrued compensation 98,292 101,127 Contract advances and progress billings 298,648 299,732 Accrued liabilities and other 302,514 305,180 Total current liabilities 988,614 999,027 Long-term debt, excluding current installments 1,081,674 874,139 Long-term pension and retirement obligations 177,688 167,161 Deferred income taxes 27,664 27,738 Other long-term liabilities 177,233 164,928 Total liabilities 2,452,873 2,232,993 Shareholders' equity Common stock - Class A 43,864 43,835 Common stock - Class B 7,416 7,445 Additional paid-in capital 769,935 784,509 Retained earnings 2,810,050 2,668,723 Treasury shares (1,205,305 ) (1,082,240 ) Stock Employee Compensation Trust (173,214 ) (194,049 ) Supplemental Retirement Plan Trust (147,042 ) (163,821 ) Accumulated other comprehensive loss (162,003 ) (203,769 ) Total shareholders' equity 1,943,701 1,860,633 Total liabilities and shareholders' equity $ 4,396,574 $ 4,093,626 Expand Moog Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (dollars in thousands) Nine Months Ended June 28, 2025 June 29, 2024 CASH FLOWS FROM OPERATING ACTIVITIES Net earnings $ 168,574 $ 164,175 Adjustments to reconcile net earnings to net cash provided (used) by operating activities: Depreciation 69,292 64,302 Amortization 6,996 7,677 Deferred income taxes (18,645 ) (26,483 ) Equity-based compensation expense 12,669 11,301 Asset impairment and inventory write-down 10,988 8,637 Other 4,399 5,374 Changes in assets and liabilities providing (using) cash: Receivables (105,346 ) (18,677 ) Unbilled receivables (35,174 ) (57,723 ) Inventories (64,095 ) (105,629 ) Accounts payable (3,301 ) 918 Contract advances and progress billings 8,798 (26,882 ) Accrued expenses (6,645 ) 36,928 Accrued income taxes (22,669 ) 9,832 Net pension and post retirement liabilities 15,563 8,783 Other assets and liabilities (8,941 ) (35,978 ) Net cash provided (used) by operating activities 32,463 46,555 CASH FLOWS FROM INVESTING ACTIVITIES Acquisitions of businesses, net of cash acquired — (5,911 ) Purchase of property, plant and equipment (103,041 ) (109,616 ) Net proceeds from businesses sold 13,487 1,627 Other investing transactions (2,844 ) (646 ) Net cash provided (used) by investing activities (92,398 ) (114,546 ) CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from revolving lines of credit 957,500 784,500 Payments on revolving lines of credit (1,001,500 ) (691,000 ) Proceeds from long-term debt 250,000 — Payments on finance lease obligations (7,194 ) (4,468 ) Payment of dividends (27,247 ) (26,521 ) Proceeds from sale of treasury stock 10,970 7,579 Purchase of outstanding shares for treasury (127,808 ) (21,832 ) Proceeds from sale of stock held by SECT 20,287 16,670 Purchase of stock held by SECT (18,505 ) (14,296 ) Other financing transactions (1,600 ) — Net cash provided (used) by financing activities 54,903 50,632 Effect of exchange rate changes on cash (491 ) (267 ) Increase (decrease) in cash, cash equivalents and restricted cash (5,523 ) (17,626 ) Cash, cash equivalents and restricted cash at beginning of year (1) 64,537 69,144 Cash, cash equivalents and restricted cash at end of period $ 59,014 $ 51,518 (1) Beginning of year cash balance at September 29, 2024 includes cash related to assets held for sale of $2,720. Expand Free cash flow is defined as net cash provided (used) by operating activities, less purchase of property, plant and equipment, less the benefit from the Receivables Purchase Agreement. Free cash flow conversion is defined as free cash flow divided by adjusted net earnings. Free cash flow and free cash flow conversion are not measures determined in accordance with GAAP and may not be comparable with the measures as used by other companies. However, management believes these adjusted financial measures may be useful in evaluating the liquidity, financial condition and results of operations of the Company. This information should be considered supplemental and is not a substitute for financial information prepared in accordance with GAAP.
Black America Web
10-07-2025
- Entertainment
- Black America Web
Famous Members Of Delta Sigma Theta
Source: Creative Services / iONEDigital Delta Sigma Theta Sorority, Inc.: A Legacy of Excellence and Service Founded on January 13, 1913, at Howard University, Delta Sigma Theta Sorority, Inc. stands as a beacon of empowerment, service, and achievement. Established by 22 visionary women, this historic organization was founded on a desire to promote academic excellence and uplift communities in need. These trailblazers, including Osceola Macarthy Adams, Winona Cargile Alexander, and Ethel Cuff Black, united around shared values that continue to inspire generations. Delta Sigma Theta's mission remains deeply rooted in scholarship, sisterhood, and service. With its motto, 'Intelligence is the Torch of Wisdom,' the organization emphasizes the power of education as a tool for progress. The sorority has grown to include more than 300,000 initiated members, making it one of the largest predominantly Black sororities in the world. This vast network exemplifies the collective strength and impact of its membership. Delta Sigma Theta's identity shines through its vibrant crimson and cream colors and its enduring symbol, the elephant. These elements reflect its strength, resilience, and unyielding determination. Over the decades, the sorority has implemented programs and initiatives addressing social justice, education, health, and economic development, leaving a profound mark on communities everywhere. Today, Delta Sigma Theta Sorority, Inc. continues to uphold its founders' vision. Its legacy is one of leadership, advocacy, and unwavering dedication to making the world a better place. Notable Members of Delta Sigma Theta Sorority, Inc. Delta Sigma Theta Sorority, Inc. boasts a legacy of extraordinary women who have excelled across diverse fields, leaving a profound impact on society. From arts and entertainment to politics, education, and social action, the sorority's members exemplify excellence and leadership. Among its most iconic members is Aretha Franklin, the Queen of Soul, whose unparalleled contributions to music and culture earned global recognition. Another standout is Loretta Lynch, who made history as the first African American woman to serve as the U.S. Attorney General, showcasing her dedication to justice and public service. Keisha Lance Bottoms, a trailblazer in politics, served as the dynamic mayor of Atlanta, bringing progressive leadership and community-focused initiatives to the forefront. These women, along with many others like Nikki Giovanni, Joy-Ann Reid, and Cicely Tyson, embody the sorority's mission of promoting scholarship, service, and social change. Their achievements span generations, reinforcing Delta Sigma Theta's commitment to uplifting communities and inspiring future leaders. Together, these remarkable Deltas continue to uphold the organization's legacy, demonstrating that the sorority is not just a network but also a movement for empowerment and progress. Their contributions remind the world of the boundless potential of sisterhood and excellence. Famous Members Of Delta Sigma Theta was originally published on Source:Radio One Inducted During the Delta Sigma Theta Sorority, Inc. 57th National Convention. Source:Getty Inducted During the Delta Sigma Theta Sorority, Inc. 57th National Convention. Source:Danielle Brooks Inducted During the Delta Sigma Theta Sorority, Inc. 57th National Convention. Source:Getty Inducted During the Delta Sigma Theta Sorority, Inc. 57th National Convention. Source:Getty Inducted During the Delta Sigma Theta Sorority, Inc. 57th National Convention. Source:Getty Inducted During the Delta Sigma Theta Sorority, Inc. 57th National Convention. Source:Getty Inducted During the Delta Sigma Theta Sorority, Inc. 57th National Convention. Source:Getty Inducted During the Delta Sigma Theta Sorority, Inc. 57th National Convention.
Business Insider
03-07-2025
- Business
- Business Insider
What the US Army is flying is around 90% crewed, 10% drone. Leadership wants to flip that.
The US Army secretary and a top general told BI about the service's plans for what it flies. In the coming years, the Army wants to operate far more unmanned aircraft than manned. US Defense Secretary Pete Hegseth wants the Army to reduce its crewed attack helicopter force and replace it with drones. US Army leadership told Business Insider it wants to be flying a lot more uncrewed aircraft than crewed ones in the coming years. We are talking about a tremendous increase in the number of drones. Its ambitions, which align with goals outlined by US Secretary of Defense Pete Hegseth's recent directive, come from a vision for what Army officials and the Trump administration have described as a more lethal force ready for future warfare. In an interview with Business Insider, US Secretary of the Army Daniel Driscoll and Gen. James Rainey, the commanding general of Army Futures Command, said that unprecedented changes in warfare are fueling plans to overhaul what the Army flies. "We believe there's a role for some manned aircraft," Rainey explained, "Big picture-wise, right now, about 90% of the things we're flying have humans in them and 10% don't. And I believe over the next several years, we would like to invert that." The plans to give every division 1,000 drones within the next two years, he added, speak to the "aggressiveness" with which the Army is going after the new uncrewed objectives. Earlier this year, Hegseth sent out a memo on strategic transformations within the Army, laying out goals and timelines for the service, including force restructuring and cuts to certain programs and systems that altogether represent one of the largest Army revamps since the end of the Cold War. The push is estimated to cost around $36 billion over the next five years. In the memo, Hegseth indicated that crewed attack helicopter formations would be reduced, restructured, and augmented with drone swarms capable of overwhelming adversaries. War-winning Army capabilities and the ones that aren't Driscoll said this big change, along with others identified in the DoD memo, is already underway and largely focused on examining what systems no longer make sense in the context of the Army's vision for its future and what systems will replace them. He mentioned the AH-64D Apache attack helicopter as one platform that no longer aligns with plans for the transformation of the force. "The flying costs on that were $10,000 an hour," the secretary said of the older Deltas, pointing out that the figure is about twice the cost of the newer Echo variant of the aircraft. "Those are the kinds of decisions that I think we had let linger and fester for too long as an Army for all sorts of reasons," Driscoll said. "What we are trying to do is take a hard look at these things," he explained, and decide whether they align with what the warfighter needs. Last month, Lt. Gen. Joseph Ryan, the Army's deputy chief of staff for operations, plans, and training, said that the Deltas are no longer "a war-winning capability that we can fight with and win today." Even the more advanced Echos, he said, are "on the cusp of being capabilities where we don't necessarily see them contributing to the fight the way they have done perhaps in the past." The Army plans to shelve the Delta variant and further examine other crewed aircraft that may no longer be sufficiently effective. It is also reviewing other helicopter models and plans to reduce the number of helos operated. The future of war is robotic More broadly, uncrewed aircraft are being seen as alternatives that soldiers can send forward on the battlefield to do missions that crewed aircraft have traditionally done. There's still a place for crewed aircraft in the Army. Some helicopters, for example, still boast value for landing troops behind or around enemy positions to surprise and surround them. But future operations are expected to be a whole lot more robotic, with an Army aviation portfolio that more heavily relies on unmanned systems integrated with manned ones. The Army sees itself at a turning point. Senior defense officials appointed by President Donald Trump have called out what they see as excessive spending, outdated systems and weapons, and a need to expedite changes to be prepared to deter or fight a future conflict. It's part of efforts to maximize readiness, increase lethality, and get soldiers what they need most. Such aims aren't entirely new, though, and execution will be key. During the previous administration, for instance, the Army was already discussing the need for more uncrewed systems and changes to its aircraft fleet, especially with the cancellation of the Future Attack Reconnaissance Aircraft program. Last year, Rainey told lawmakers that for scouting and recon missions "the right thing to do is to use unmanned systems and not put humans in harm's way." A major motivator for many of the ongoing transformation efforts is China, which the Pentagon has referred to as a pacing challenge. Officials and lawmakers in Washington see China's meteoric military growth and modernization and are pursuing capabilities that will allow the US military to deter aggression and, if necessary, overcome that rapidly evolving fighting force in armed combat. Drones, from pocket-sized aircraft to quadcopters to bigger warfighting assets, are a key part of these efforts, providing a range of combat capabilities en masse for a relatively low cost compared to some other US weapons programs. The Pentagon has been working to expedite the development and deployment of uncrewed aerial systems across the services, recognizing their value as this technology sprints onto the scene in big ways. Army soldiers have been testing different types of reconnaissance and strike drones are being tested in areas like the Indo-Pacific region, learning how to adapt unmanned systems to the challenges of different missions and environments. That's a key aspect of an ongoing "transformation in contact" initiative, which focuses on Army units being given free rein to use different capabilities during training and exercises to see how the systems might work best. The value of drones, particularly the smaller systems, has been especially visible in the war in Ukraine, which Army leaders continue to study. Ukrainian operators fly drones for intelligence-gathering and strike missions, among others. Due to extensive electronic warfare countermeasures on the battlefield, both sides are heavily relying on fiber-optic drones to maintain a stable connection between the operator and system while also exploring new technology, like AI-enabled drones that can resist jamming. The US is not in a similar situation, but it is looking to innovate as if it were.
Yahoo
09-02-2025
- Yahoo
Who's This White Lady Who Just Joined a Famous Black Sorority? Her Badass Story Will Inspire You!
These days, it's not uncommon to see a white person joining the Black-founded Greek organizations of the Divine Nine. Though, have you ever wondered who was the first to bite the bullet? Let us introduce Joan Mulholland, the first white woman to join Delta Sigma Theta Sorority, Inc. and trust us, she was a force to be reckoned with (famous Deltas include singer Andra Day, Aretha Franklin, Cisley Tyson and Shirley to name a few). Mulholland's mugshot might be found alongside the others who were arrested by the Jackson, Miss. police during the Freedom Riders movement. The Washington D.C. native was just around 20 years old. However, she didn't just get caught up in the crowd or end up at the wrong place at the wrong time. Mulholland was about that life. Her activism began at Duke University in 1960, where her parents encouraged her to go. She'd taken an interest in the International Club instead of the other, majority white groups on campus, per the Library of Congress. She'd taken interest in sit-ins and other demonstrations, leading to confusion from her peers because why would a white woman would fight for such a cause? After the Dean of Women pressured her to stop her activism, Mulholland dropped out, per the Library of Congress. By 1961, Mulholland was joining Student Nonviolent Coordinating Committee chairman Stokely Carmichael to take a freedom ride from New Orleans to Jackson, Miss. However, the group was arrested and shipped off to Parchman Penitentiary where she stayed for two months after refusing to pay bail, per The Advocate. By the time she was released, she had little options as to what she could do beyond going back to school or working. However, the riots following the desegregation of the University of Georgia encouraged her to get back in the books... but at a Black school. 'Now if whites were going to riot when Black students were going to white schools, what were they going to do if a white student went to a Black school?' she said, per the University of South Carolina. Mulholland then enrolled in Touglaoo College. There, she had the honor of escorting Dr. Martin Luther King Jr. around campus while he visited the college for a speech, per The Advocate. She considered him a 'hero' of the movement. By 1963, she'd join Delta Sigma Theta Sorority, Inc. - becoming their first white member. Following that moment she would go on to participate in the March on Washington, Selma to Montgomery March and meet other Civil Rights giants such as John Lewis and Medgar Evers. By the ripe age of 23, Mulholland participated in over 50 sit-ins and protests. Her bravery didn't come without consequence, though. According to the foundation created in her name, she was disowned by her family, targeted by the Ku Klux Klan and faced all the other havoc Black activists did during the time - all in the name of fighting for equality. Now, Mulholland is a healthy 83 years old with honors such as recognition from former President Barack Obama, the Anti-Defamation League Annual Heroes Against Hate Award and the 'I Am a Man' Award from the 50th Anniversary of King's assassination. Her son, Loki, also filmed a documentary on her life and activism, 'An Ordinary Hero: the True Story of Joan Trumpauer Mulholland.' For the latest news, Facebook, Twitter and Instagram.
