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TransDigm Group Boosts FY23 Outlook - Update
(RTTNews) - While reporting financial results for the first quarter on Tuesday, TransDigm Group Inc. (TDG) raised its earnings, adjusted earnings and net sales guidance for the full-year 2023, based on strong first quarter results and current expectations for the remainder of the fiscal year.
For fiscal 2023, the company now projects earnings from continuing operations in a range of $18.24 to $19.64 per share and adjusted earnings in a range of $21.47 to $22.87 per share on net sales between $6.07 billion and $6.24 billion.
Previously, the company expected earnings from continuing operations in a range of $17.45 to $18.85 per share and adjusted earnings in a range of $20.68 to $22.08 per share on net sales between $5.99 billion and $6.19 billion.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $21.81 per share on revenues of $6.09 billion for the year. Analysts' estimates typically exclude special items.
"As our fiscal 2023 progresses, should the favorable trends in the commercial aerospace market recovery continue, including the expansion of flight activity in China, we could see further upward revision to our guidance," said Kevin Stein, TransDigm Group's President and CEO.
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