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TransDigm Group Boost FY24 Outlook - Update
(RTTNews) - While reporting financial results for the second quarter on Tuesday, TransDigm Group Inc. (TDG) raised its earnings, adjusted earnings and net sales guidance for the full-year 2024, to reflect TransDigm's continued strong performance.
For fiscal 2024, the company now projects earnings in a range of $26.06 to $27.40 per share and adjusted earnings in a range of $31.75 to $33.09 per share on net sales between $7.68 billion and $7.80 billion.
Previously, the company expected earnings in the range of $25.35 to $27.01 per share and adjusted earnings in the range of $29.97 to $31.73 per share on net sales between $7.575 billion and $7.755 billion.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $31.86 per share on revenues of $7.59 billion for the year. Analysts' estimates typically exclude special items.
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TransDigm Group Boosts FY24 Outlook - Update
While reporting financial results for the third quarter on Tuesday, TransDigm Group Inc. (TDG) raised its adjusted earnings and net sales guidance for the full-year 2024, 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.
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Malaysia Stock Market Expected To Open To The Upside On Wednesday
The Malaysia stock market on Tuesday wrote a finish to the three-day winning streak in which it had collected almost 15 points or 0.9 percent. The Kuala Lumpur Composite Index now sits just above the 1,580-point plateau although it's likely to rebound on Wednesday.
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Japan Stock Market May See Renewed Support
The Japan stock market on Tuesday halted the two-day winning streak in which it had advanced almost 200 points or 0.5 percent. The Nikkei 225 now rests just beneath the 42,400-point plateau although it's expected to open in the green on Wednesday.
The global forecast for the Asian markets is cautiously optimistic, with tech shares likely to rise ahead of key earnings news later in the day. The European markets were down and the U.S. bourses were up and the Asian markets figures to follow the latter lead.
The Nikkei finished sharply lower on Tuesday following losses from the financial shares, technology stocks and automobile producers.
For the day, the index slumped 413.42 points or 0.97 percent to finish at 42,394.40 after trading between 42,137.62 and 42,703.27.
Among the actives, Nissan Motor plummeted 6.25 percent, while Mazda Motor added 0.40 percent, Toyota Motor retreated 1.41 percent, Honda Motor tumbled 1.71 percent, Softbank Group dropped 0.91 percent, Mitsubishi UFJ Financial sank 0.72 percent, Mizuho Financial shed 0.45 percent, Sumitomo Mitsui Financial skidded 1.01 percent, Mitsubishi Electric tumbled 1.91 percent, Sony Group declined 1.87 percent, Panasonic Holdings slumped 1.11 percent and Hitachi contracted 1.63 percent.
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Rebound Tipped For South Korea Stock Market
The South Korea stock market on Tuesday ended the three-day winning streak in which it had improved almost 80 points or 2.6 percent. The KOSPI now sits just shy of the 3,180-point plateau although it may reverse those losses on Wednesday.
The global forecast for the Asian markets is cautiously optimistic, with tech shares likely to rise ahead of key earnings news later in the day. The European markets were down and the U.S. bourses were up and the Asian markets figures to follow the latter lead.
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