We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
TransDigm Group Incorporated (TDG - Free Report) reported second-quarter fiscal 2022 adjusted earnings of $3.86 per share, which beat the Zacks Consensus Estimate of $3.71 by 4%. The bottom line improved a solid 50% from $2.58 reported a year ago.
Barring one-time items, the company reported GAAP earnings of $3.38 per share compared with $1.79 generated in the year-ago quarter.
This year-over-year improvement can be attributed to an increase in net sales, favorable sales mix, along with lower one-time refinancing costs as well as lower COVID-19 restructuring costs.
Sales
Net sales amounted to $1,327 million in the fiscal second quarter, increasing 11.1% from $1,194 million in the prior-year quarter. The reported figure also exceeded the Zacks Consensus Estimate of $1.31 million by 1.5%.
Transdigm Group Incorporated Price, Consensus and EPS Surprise
Gross profit for the quarter rose 24.3% to $736 million from $592 million in the comparable quarter a year ago.
Consequently, income from operations surged 32% year over year to $520 million.
Financial Position
TransDigm ended second-quarter fiscal 2022 with cash and cash equivalents of $4,216 million, down from $4,787 million as of Sep 30, 2021.
At the end of the fiscal second quarter, the company’s long-term debt was $19.39 billion, slightly up from $19.37 billion as of Sep 30, 2021.
Cash from operating activities amounted to $366 million as of Apr 2, 2022, compared with $372 million as of Apr 3, 2021.
Guidance
Given the continued disruptions in TransDigm’s primary commercial end markets, thanks to the impact of the COVID-19 pandemic, the company once again refrained from providing fiscal 2022 guidance.
Zacks Rank
TransDigm currently carries a Zacks Rank #4 (Sell).
Raytheon Technologies’ (RTX - Free Report) first-quarter 2022 adjusted earnings per share (EPS) of $1.15 beat the Zacks Consensus Estimate of $1.01 by 13.9%. Moreover, the bottom-line figure improved 27.8% from the year-ago quarter’s adjusted earnings of 90 cents.
Raytheon’s first-quarter sales of $15,716 million missed the Zacks Consensus Estimate of $15,799 million by 0.5%. The sales figure, however, rose 3% from $15,251 million recorded in the year-ago quarter.
Lockheed Martin (LMT - Free Report) reported first-quarter 2022 earnings of $6.44 per share, which surpassed the Zacks Consensus Estimate of $6.22 by 3.5%. The bottom line, however, declined 1.8% year over year.
Lockheed Martin’s net sales amounted to $14.96 billion, which missed the Zacks Consensus Estimate of $15.53 billion by 3.7%. The top line also declined 8% from $16.26 billion reported in the year-ago quarter
Teledyne Technologies Inc. (TDY - Free Report) reported first-quarter 2022 adjusted earnings of $4.27 per share, which surpassed the Zacks Consensus Estimate of $4.09 by 4.4%. The bottom line also improved 33.9% from the year-ago quarter’s $3.19 per share.
Teledyne’s total sales in the first quarter amounted to $1,321 million, which exceeded the Zacks Consensus Estimate of $1,315 million by 0.5%. The top line also improved 64% from $805.7 million reported a year ago.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
TransDigm's (TDG) Q2 Earnings Beat Estimates, Sales Rise Y/Y
TransDigm Group Incorporated (TDG - Free Report) reported second-quarter fiscal 2022 adjusted earnings of $3.86 per share, which beat the Zacks Consensus Estimate of $3.71 by 4%. The bottom line improved a solid 50% from $2.58 reported a year ago.
Barring one-time items, the company reported GAAP earnings of $3.38 per share compared with $1.79 generated in the year-ago quarter.
This year-over-year improvement can be attributed to an increase in net sales, favorable sales mix, along with lower one-time refinancing costs as well as lower COVID-19 restructuring costs.
Sales
Net sales amounted to $1,327 million in the fiscal second quarter, increasing 11.1% from $1,194 million in the prior-year quarter. The reported figure also exceeded the Zacks Consensus Estimate of $1.31 million by 1.5%.
Transdigm Group Incorporated Price, Consensus and EPS Surprise
Transdigm Group Incorporated price-consensus-eps-surprise-chart | Transdigm Group Incorporated Quote
Operating Results
Gross profit for the quarter rose 24.3% to $736 million from $592 million in the comparable quarter a year ago.
Consequently, income from operations surged 32% year over year to $520 million.
Financial Position
TransDigm ended second-quarter fiscal 2022 with cash and cash equivalents of $4,216 million, down from $4,787 million as of Sep 30, 2021.
At the end of the fiscal second quarter, the company’s long-term debt was $19.39 billion, slightly up from $19.37 billion as of Sep 30, 2021.
Cash from operating activities amounted to $366 million as of Apr 2, 2022, compared with $372 million as of Apr 3, 2021.
Guidance
Given the continued disruptions in TransDigm’s primary commercial end markets, thanks to the impact of the COVID-19 pandemic, the company once again refrained from providing fiscal 2022 guidance.
Zacks Rank
TransDigm currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Defense Releases
Raytheon Technologies’ (RTX - Free Report) first-quarter 2022 adjusted earnings per share (EPS) of $1.15 beat the Zacks Consensus Estimate of $1.01 by 13.9%. Moreover, the bottom-line figure improved 27.8% from the year-ago quarter’s adjusted earnings of 90 cents.
Raytheon’s first-quarter sales of $15,716 million missed the Zacks Consensus Estimate of $15,799 million by 0.5%. The sales figure, however, rose 3% from $15,251 million recorded in the year-ago quarter.
Lockheed Martin (LMT - Free Report) reported first-quarter 2022 earnings of $6.44 per share, which surpassed the Zacks Consensus Estimate of $6.22 by 3.5%. The bottom line, however, declined 1.8% year over year.
Lockheed Martin’s net sales amounted to $14.96 billion, which missed the Zacks Consensus Estimate of $15.53 billion by 3.7%. The top line also declined 8% from $16.26 billion reported in the year-ago quarter
Teledyne Technologies Inc. (TDY - Free Report) reported first-quarter 2022 adjusted earnings of $4.27 per share, which surpassed the Zacks Consensus Estimate of $4.09 by 4.4%. The bottom line also improved 33.9% from the year-ago quarter’s $3.19 per share.
Teledyne’s total sales in the first quarter amounted to $1,321 million, which exceeded the Zacks Consensus Estimate of $1,315 million by 0.5%. The top line also improved 64% from $805.7 million reported a year ago.