- TransDigm Group Inc TDG reported first-quarter sales growth of 7.8% year-over-year to $1.19 billion, +8.7% on an organic basis, missing the consensus of $1.24 billion.
- Adjusted EPS improved 52% Y/Y to $3.00, missing the consensus of $3.14.
- The gross margin expanded by 650 bps to 55.4%. The operating income increased by 44.4% Y/Y to $455 million, and the margin expanded by 970 bps to 38.1%.
- EBITDA as Defined increased by 19.2% Y/Y to $565 million, and the margin expanded by 450 bps to 47.3%.
- TransDigm generated cash from operating activities for the quarter of $279 million, compared to $274 million a year ago.
- TransDigm said its FY22 guidance remains suspended at this time, citing the continued disruption in its primary commercial end markets.
- Price Action: TDG shares are trading higher by 0.87% at $638.76 on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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