TransDigm Group Incorporated (
TDG - Free Report) reported second-quarter fiscal 2019 adjusted earnings of $4.21 per share, which surpassed the Zacks Consensus Estimate of $3.86 by 9%. Moreover, the bottom line increased 11.1 % from $3.79 registered a year ago.
Barring one-time items, the company reported GAAP earnings of $3.60 per share compared with $3.63 in the year-ago quarter.
Sales
Net sales amounted to $1195.9 million, reflecting year-over-year growth of 28.2% from $933.1 million in the prior-year quarter. The reported figure also outpaced the Zacks Consensus Estimate of $1,140 million by 4.9%. Meanwhile, organic sales grew 11%.
Acquisitions
TransDigm frequently acquires proprietary aerospace businesses with significant aftermarket content, which fortifies its foothold in the core market and is in line with its operating strategies. Evidently, on Mar 14, 2019, the company completed the acquisition of Esterline Technologies Corporation, a supplier of products to the global aerospace and defense industry.
We expect TransDigm’s acquisition spree to boost its product range with proprietary products that enjoy strong position on high use of platforms, robust aftermarket content and an excellent reputation.
Financial Position
TransDigm ended the second quarter of fiscal 2019 with cash and cash equivalents of $2,441.3 million, up from $2,073 million as of Sep 30, 2018. At the end of the reported quarter, the company’s long-term debt summed $16.51 billion, up from $12.5 billion as of Sep 30, 2018.
Cash from operating activities amounted to $453 million as of Mar 30, 2019, compared with $453.7 million as of Mar 31, 2018.
Transdigm Group Incorporated Price, Consensus and EPS Surprise
Zacks Rank
Recent Defense Releases
Textron Inc. (
TXT - Free Report) reported first-quarter 2019 earnings from continuing operations of 76 cents per share, which surpassed the Zacks Consensus Estimate of 70 cents by 8.6%.
Lockheed Martin Corp. (
LMT - Free Report) reported first-quarter 2019 earnings of $5.99 per share, which surpassed the Zacks Consensus Estimate of $4.29 by 39.6%.
The Boeing Company (
BA - Free Report) reported adjusted earnings of $3.16 per share for first-quarter 2019, which outshined the Zacks Consensus Estimate of $3.11 by 1.6%.
Radical New Technology Creates $12.3 Trillion Opportunity
Imagine buying Microsoft stock in the early days of personal computers… or Motorola after it released the world’s first cell phone. These technologies changed our lives and created massive profits for investors.
Today, we’re on the brink of the next quantum leap in technology. 7 innovative companies are leading this “4th Industrial Revolution” - and early investors stand to earn the biggest profits.
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 >>
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 >>
Get the latest research report on BA - FREE
Get the latest research report on LMT - FREE
Get the latest research report on TXT - FREE
Get the latest research report on TDG - FREE