TransDigm Boosts FY19 Outlook; Announces Special Cash Dividend - Quick Facts

(RTTNews) - While reporting financial results for the third quarter, TransDigm Group Inc. (TDG) on Tuesday raised its earnings from continuing operations, adjusted earnings and sales outlook for the full-year 2019, primarily to include the strong performance of our legacy TransDigm business and better than expected Esterline integration performance.

For fiscal 2019, the company now projects earnings from continuing operations in a range of $13.19 to $13.51 per share and adjusted earnings in a range of $17.93 to $18.25 per share on net sales between $5.50 billion to $5.55 billion.

Previously, the company expected earnings from continuing operations in the range of $11.75 to $12.43 per share and adjusted earnings in the range of $16.47 to $17.15 per share on net sales between $5.395 billion to $5.485 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $17.08 per share on sales of $5.45 billion for the year. Analysts' estimates typically exclude special items.

Further, the company also announced that its board of directors has authorized and declared a special cash dividend of $30.00 on each outstanding share of common stock and cash dividend equivalent payments under options granted under its stock option plans. The record date for the special dividend is August 16, 2019, and the payment date for the dividend is August 23, 2019.