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Jun 29, 2024
Transdigm Q3 2024 Earnings Report
Reports fiscal 2024 third quarter results with revenue ahead of expectations and improved EBITDA As Defined margin.
Key Takeaways
TransDigm Group Incorporated reported a 17% increase in net sales to $2,046 million and a 31% increase in net income to $461 million for the third quarter ended June 29, 2024. The company also revised its fiscal year 2024 financial guidance upward, reflecting continued strong performance and recent acquisitions.
Net sales increased by 17% to $2,046 million compared to the prior year's quarter.
Net income rose by 31% to $461 million from the prior year's quarter.
Adjusted earnings per share increased by 24% to $9.00.
Fiscal 2024 financial guidance was revised upward to reflect strong performance and recent acquisitions.
Forward Guidance
TransDigm raised its full year guidance primarily to reflect strong third quarter results and current expectations for the remainder of the fiscal year, as well as to include the recent acquisitions of SEI Industries, the CPI Electron Device Business and Raptor Scientific.
Positive Outlook
- Net sales are anticipated to be in the range of $7,870 million to $7,930 million.
- Net income is anticipated to be in the range of $1,632 million to $1,678 million.
- Earnings per share is expected to be in the range of $26.47 to $27.27 per share.
- EBITDA As Defined is anticipated to be in the range of $4,100 million to $4,160 million.
- Adjusted earnings per share is expected to be in the range of $32.62 to $33.42 per share.
Challenges Ahead
- Commercial OEM revenue growth around 20%.
- Commercial aftermarket revenue growth in the mid-teens percentage range.
- Defense revenue growth in the high-teens percentage range.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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