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TransDigm's (TDG) Q2 Earnings Beat Estimates, Sales Down Y/Y
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TransDigm Group Incorporated (TDG - Free Report) reported second-quarter fiscal 2021 adjusted earnings of $2.58 per share, which surpassed the Zacks Consensus Estimate of $2.52 by 2.4%. However, the bottom line declined 49.4% from $5.10 reported a year ago.
Barring one-time items, the company reported GAAP earnings of $1.79 per share compared with $5.56 in the year-ago quarter.
Sales
Net sales amounted to $1,194 million, declining 17.3% from $1,443 million in the prior-year quarter. The reported figure, however, outpaced the Zacks Consensus Estimate of $1,180 million by 1.2%.
Operating Results
Net income from continuing operations for the quarter plunged 67.5% to $105 million compared with $323 million in the comparable quarter a year ago. The decrease in income from continuing operations primarily reflects the decline in net sales.
Transdigm Group Incorporated Price, Consensus and EPS Surprise
TransDigm ended the second quarter of fiscal 2021 with cash and cash equivalents of $4,072 million, down from $4,717 million as of Sep 30, 2020.
At the end of the reported quarter, the company’s long-term debt summed $19.40 billion, up from $19.38 billion as of Sep 30, 2020.
Cash from operating activities amounted to $372 million as of Apr 3, 2021, compared with $594 million as of Mar 28, 2020.
Fiscal 2021 Outlook
Given the considerable uncertainty concerning the extent and duration of business disruptions stemming from the COVID-19 pandemic and how it will impact operations further, TransDigm kept its previously provided fiscal 2021 guidance suspended.
Lockheed Martin Corp. (LMT - Free Report) reported first-quarter 2021 earnings of $6.56 per share, which surpassed the Zacks Consensus Estimate of $6.32 by 3.8%.
Hexcel Corporation (HXL - Free Report) reported first-quarter 2021 loss of 10 cents per share, which was narrower than the Zacks Consensus Estimate of a loss of 16 cents.
Raytheon Technologies Corporation’s (RTX - Free Report) first-quarter 2021 adjusted earnings per share of 90 cents outpaced the Zacks Consensus Estimate of 88 cents by 2.3%.
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TransDigm's (TDG) Q2 Earnings Beat Estimates, Sales Down Y/Y
TransDigm Group Incorporated (TDG - Free Report) reported second-quarter fiscal 2021 adjusted earnings of $2.58 per share, which surpassed the Zacks Consensus Estimate of $2.52 by 2.4%. However, the bottom line declined 49.4% from $5.10 reported a year ago.
Barring one-time items, the company reported GAAP earnings of $1.79 per share compared with $5.56 in the year-ago quarter.
Sales
Net sales amounted to $1,194 million, declining 17.3% from $1,443 million in the prior-year quarter. The reported figure, however, outpaced the Zacks Consensus Estimate of $1,180 million by 1.2%.
Operating Results
Net income from continuing operations for the quarter plunged 67.5% to $105 million compared with $323 million in the comparable quarter a year ago. The decrease in income from continuing operations primarily reflects the decline in net sales.
Transdigm Group Incorporated Price, Consensus and EPS Surprise
Transdigm Group Incorporated price-consensus-eps-surprise-chart | Transdigm Group Incorporated Quote
Financial Position
TransDigm ended the second quarter of fiscal 2021 with cash and cash equivalents of $4,072 million, down from $4,717 million as of Sep 30, 2020.
At the end of the reported quarter, the company’s long-term debt summed $19.40 billion, up from $19.38 billion as of Sep 30, 2020.
Cash from operating activities amounted to $372 million as of Apr 3, 2021, compared with $594 million as of Mar 28, 2020.
Fiscal 2021 Outlook
Given the considerable uncertainty concerning the extent and duration of business disruptions stemming from the COVID-19 pandemic and how it will impact operations further, TransDigm kept its previously provided fiscal 2021 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 Corp. (LMT - Free Report) reported first-quarter 2021 earnings of $6.56 per share, which surpassed the Zacks Consensus Estimate of $6.32 by 3.8%.
Hexcel Corporation (HXL - Free Report) reported first-quarter 2021 loss of 10 cents per share, which was narrower than the Zacks Consensus Estimate of a loss of 16 cents.
Raytheon Technologies Corporation’s (RTX - Free Report) first-quarter 2021 adjusted earnings per share of 90 cents outpaced the Zacks Consensus Estimate of 88 cents by 2.3%.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 3 crypto-related stocks now >>