TransDigm Q3 sales up 19% to $1.22B; EPS $5.43 vs -$0.09; Howley becomes Non-Exec Chairman

TransDigm Group INC

Q3 net sales $1,218M (+19% YoY); income from cont ops $317M vs loss of $5M; adjusted EPS $3.33 (+116%).
EBITDA As Defined $559M (45.9% margin); operating cash flow $252M; FY2021 guidance remains suspended citing COVID uncertainty.
W. Nicholas Howley transitioned to non-executive Chairman effective Aug 6, accelerated ~1 year; received 105,000 stock options at $629.11, no board fees.
Divested ScioTeq/TREALITY for ~$200M and TAC for ~$40M; recognized net gain of ~$68M in Q3.
Effective tax rate negative 30% in Q3; FY2021 GAAP tax rate expected 0-3%, adjusted 18-20%.

item 2.02 item 5.02 item 9.01

Executive movements

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Role change

W. Nicholas Howley

Chairman of the Board

TDG · TransDigm Group INC

Effective: 2021-08-06
Filed: August 10, 2021, 7:59 PM ET

On August 6, 2021, the Company’s Board of Directors appointed W. Nicholas Howley as Chairman of the Board of Directors.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

W. Nicholas Howley was appointed as Chairman of the Board at TransDigm Group INC.

Action: appointed
Role: Chairman of the Board

Exact text from the filing

On August 6, 2021, the Company’s Board of Directors appointed W. Nicholas Howley as Chairman of the Board of Directors.

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TransDigm Group INC filing history →

Source: SEC EDGAR

accession 0001260221-21-000103

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