TransDigm (TDG) Q2 Earnings Beat Estimates, Sales Increase Year-over-Year
TransDigm Group Incorporated TDG reported adjusted earnings of $3.86 per share for the second quarter of fiscal 2022, which beat Zacks’ consensus estimate of $3.71 by 4%. Net income improved 50% from the $2.58 reported a year ago.
Excluding one-time items, the company reported GAAP earnings of $3.38 per share, compared to $1.79 generated in the year-ago quarter.
This year-over-year improvement can be attributed to higher net sales, a favorable sales mix, as well as lower one-time refinancing costs as well as restructuring costs related to COVID- 19 lower.
Net sales were $1,327 million in the fiscal second quarter, up 11.1% from $1,194 million in the prior year quarter. The reported figure also topped Zacks’ consensus estimate of $1.31 million by 1.5%.
Transdigm Group Incorporated price, consensus and surprise EPS
Transdigm Group Incorporated price-consensus-eps-surprise-chart | Quote from Transdigm Group Incorporated
Gross profit for the quarter increased 24.3% to $736 million from $592 million in the comparable quarter a year ago.
As a result, operating income jumped 32% year over year to $520 million.
TransDigm ended the second quarter of fiscal 2022 with cash and cash equivalents of $4,216 million, compared to $4,787 million at September 30, 2021.
At the end of the second fiscal quarter, the company’s long-term debt stood at $19.39 billion, up slightly from $19.37 billion as of September 30, 2021.
Cash flow from operating activities was $366 million as of April 2, 2022, compared to $372 million as of April 3, 2021.
Given the continued disruptions in TransDigm’s key commercial end markets, thanks to the impact of the COVID-19 pandemic, the company has once again refrained from providing guidance for fiscal year 2022.
TransDigm currently carries a Zacks rank #4 (sell).
You can see the full list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Defense Publications
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