CLEVELAND (AP) — CLEVELAND (AP) — TransDigm Group Inc. (TDG) on Tuesday reported fiscal third-quarter profit of $351 million.
On a per-share basis, the Cleveland-based company said it had net income of $6.14. Earnings, adjusted for one-time gains and costs, came to $7.25 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $6.33 per share.
The aircraft components maker posted revenue of $1.74 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $1.68 billion.
TransDigm expects full-year earnings in the range of $24.94 to $25.36 per share, with revenue in the range of $6.53 billion to $6.59 billion.
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, source Associated Press News
TransDigm Group Inc. specializes in the design, manufacturing and marketing of aerospace systems and components. Net sales break down by family of products as follows:
- engine components and control systems (50.3%): mechanical and electromechanical actuators and control systems, pumps and engine control systems, power regulators, ignition systems, thermal management systems, fluid management systems, batteries and power supply systems, motion sensors, data recording, analysis and processing systems, etc. The group also offers winches, lifting systems and cargo handling systems;
- cabin systems and equipment (47%): cockpit safety components and systems, locking systems and devices, connectors, audio control systems, specialized sanitary equipment, seat belts and safety devices, interior fittings (seats, display systems, on-board entertainment systems, etc.) lighting systems, parachutes, freight delivery systems, etc. ;
- other (2.7%): non-aeronautical systems and equipment.
At the end of September 2023, the group operated approximately 100 production sites worldwide.
The United States accounts for 64.8% of net sales.