TransDigm Group Incorporated (TDG - Free Report) reported fourth-quarter fiscal 2020 adjusted earnings of $2.89 per share, which surpassed the Zacks Consensus Estimate of $1.90 by 52.1%. However, the bottom line plunged 48.6% from $5.62 reported in the year-ago quarter.
Barring one-time items, the company reported GAAP earnings of $1.76 per share compared with $4.08 in the year-ago quarter.
Sales
Net sales amounted to $1,173 million, reflecting a decline of 23.9% from $1,541 million in the prior-year quarter. The reported figure, however, outpaced the Zacks Consensus Estimate of $1,096 million by 7%. Meanwhile, organic sales dropped 13.8%.
Operating Results
The company reported a net income of $101 million from continuing operations in the quarter compared with the net income of $317 million in the comparable quarter a year ago.
The effective tax rate for fiscal 2020 was 11.7% compared to 20.9% for fiscal 2019.
Transdigm Group Incorporated Price, Consensus and EPS Surprise
Financial Position
TransDigm ended the fourth quarter of fiscal 2020 with cash and cash equivalents of $4,717 million, up from $1,467 million as of Sep 30, 2019.
At the end of the reported quarter, the company’s long-term debt was $19.38 billion, up from $16.47 billion as of Sep 30, 2019.
Cash from operating activities amounted to $1,213 million as of Sep 30, 2020, compared with $1,015 million as of Sep 30, 2019.
Fiscal 2020 Outlook
Given the considerable uncertainty concerning the extent and duration of business disruptions related to the COVID-19 pandemic and how it will impact operations, TransDigm kept its previously provided fiscal 2020 guidance suspended.
Zacks Rank
TransDigm currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Defense Releases
Lockheed Martin (LMT - Free Report) reported third-quarter 2020 earnings from continuing operations of $6.25 per share, which surpassed the Zacks Consensus Estimate of $6.07 by 3%.
The Boeing Company (BA - Free Report) incurred an adjusted loss of $1.39 per share for third-quarter 2020, narrower than the Zacks Consensus Estimate of a loss of $2.33.
General Dynamics (GD - Free Report) reported third-quarter 2020 earnings from continuing operations of $2.90 per share, which beat the Zacks Consensus Estimate of $2.85 by 1.8%.
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TransDigm Group Incorporated (TDG - Free Report) reported fourth-quarter fiscal 2020 adjusted earnings of $2.89 per share, which surpassed the Zacks Consensus Estimate of $1.90 by 52.1%. However, the bottom line plunged 48.6% from $5.62 reported in the year-ago quarter.
Barring one-time items, the company reported GAAP earnings of $1.76 per share compared with $4.08 in the year-ago quarter.
Sales
Net sales amounted to $1,173 million, reflecting a decline of 23.9% from $1,541 million in the prior-year quarter. The reported figure, however, outpaced the Zacks Consensus Estimate of $1,096 million by 7%. Meanwhile, organic sales dropped 13.8%.
Operating Results
The company reported a net income of $101 million from continuing operations in the quarter compared with the net income of $317 million in the comparable quarter a year ago.
The effective tax rate for fiscal 2020 was 11.7% compared to 20.9% for fiscal 2019.
Transdigm Group Incorporated Price, Consensus and EPS Surprise
Financial Position
TransDigm ended the fourth quarter of fiscal 2020 with cash and cash equivalents of $4,717 million, up from $1,467 million as of Sep 30, 2019.
At the end of the reported quarter, the company’s long-term debt was $19.38 billion, up from $16.47 billion as of Sep 30, 2019.
Cash from operating activities amounted to $1,213 million as of Sep 30, 2020, compared with $1,015 million as of Sep 30, 2019.
Fiscal 2020 Outlook
Given the considerable uncertainty concerning the extent and duration of business disruptions related to the COVID-19 pandemic and how it will impact operations, TransDigm kept its previously provided fiscal 2020 guidance suspended.
Zacks Rank
TransDigm currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Defense Releases
Lockheed Martin (LMT - Free Report) reported third-quarter 2020 earnings from continuing operations of $6.25 per share, which surpassed the Zacks Consensus Estimate of $6.07 by 3%.
The Boeing Company (BA - Free Report) incurred an adjusted loss of $1.39 per share for third-quarter 2020, narrower than the Zacks Consensus Estimate of a loss of $2.33.
General Dynamics (GD - Free Report) reported third-quarter 2020 earnings from continuing operations of $2.90 per share, which beat the Zacks Consensus Estimate of $2.85 by 1.8%.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.3% per year.
These 7 were selected because of their superior potential for immediate breakout.
See these time-sensitive tickers now >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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