TransDigm Raises FY23 Guidance

(RTTNews) - TransDigm Group Incorporated (TDG) reported that its second quarter adjusted earnings per share was up 55% from a year ago. Net sales increased 20% year-over-year. The company increased its full year guidance primarily to reflect strong second quarter results, the recent acquisition of Calspan, and current expectations for the remainder of the fiscal year.

For fiscal 2023, the company now expects adjusted earnings per share to be in the range of $23.31 to $24.19 per share, an increase of $1.58 at the mid-point. Net sales are anticipated to be in the range of $6.41 billion to $6.50 billion, an increase of $300 million at the mid-point.

Second quarter bottom line came in at $304 million, or $5.32 per share compared with $199 million, or $3.38 per share, in last year's second quarter. Excluding items, TransDigm reported adjusted earnings of $341 million or $5.98 per share for the period. Analysts on average had expected the company to earn $5.45 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items. Revenue rose 19.5% to $1.59 billion from $1.33 billion last year.

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