WASHINGTON (dpa-AFX) - (Adds Outlook)
TransDigm Group Incorporated (TDG) revealed earnings for its first quarter that increased from the same period last year and beat the Street estimates.
The company's earnings came in at $281 million, or $4.87 per share. This compares with $190 million, or $3.33 per share, in last year's first quarter.
Excluding items, TransDigm Group Incorporated reported adjusted earnings of $413 million or $7.16 per share for the period.
Analysts on average had expected the company to earn $6.41 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 28.1% to $1.789 billion from $1.397 billion last year.
Outlook:
Looking ahead, TransDigm has revised down its earnings guidance below the analysts' estimates, whereas it has revised up sales outlook in line with the view. Net income now anticipated to be in the range of $1.560 billion to $1.662 billion, a decrease of $86 million at the midpoint from prior guidance.
Net earnings per share now projected to be in the range of $25.25 to $27.01, a decrease of $1.45 per share at the midpoint from prior guidance.
On average, 23 analysts polled by Thomson Reuters project the firm to earn income per share of $32.31, for the year. Analysts' estimates typically exclude special items.
The company now expects sales of $7.575 billion to $7.755 billion, an increase of $85 million at the midpoint from earlier guidance, and in line with the analysts' estimate of $7.63 billion.
TransDigm Group Incorporated Q1 earnings at a glance (GAAP) :
-Earnings (Q1): $281 Mln. vs. $190 Mln. last year. -EPS (Q1): $4.87 vs. $3.33 last year. -Analyst Estimate: $6.41 -Revenue (Q1): $1.789 Bln vs. $1.397 Bln last year.
Copyright(c) 2024 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX