TransDigm Q1 net sales +17% to $1.40B; raises FY2023 guidance

TransDigm now expects fiscal 2023 financial guidance to be as follows: • Net sales are anticipated to be in the range of $6,070 million to $6,240 million compared with $5,429 million in fiscal 2022 (an increase of $65 million at the mid-point); • Net income from continuing operations is anticipated to be in the range of $1,080 million to $1,160 million compared with $866 million in fiscal 2022 (an increase of $44 million at the mid-point); • Earnings per share from continuing operations is expected to be in the range of $18.24 to $19.64 per share based upon weighted average shares outstanding of 57.1 million shares compared with $13.38 per share in fiscal 2022 (an increase of $0.79 at the mid-point);

TransDigm Group Reports Fiscal 2023 First Quarter Results Cleveland, Ohio, February 7, 2023/PRNewswire/ -- TransDigm Group Incorporated (NYSE: TDG), a leading global designer, producer and supplier of highly engineered aircraft components, today reported results for the first quarter ended December 31, 2022. First quarter highlights include: • Net sales of $1,397 million, up 17% from $1,194 million in the prior year's quarter; • Income from continuing operations of $229 million, up 40% from the prior year's quarter; • Earnings per share from continuing operations of $3.33, up 70% from the prior year's quarter; • EBITDA As Defined of $699 million, up 24% from $565 million in the prior year's quarter; • EBITDA As Defined margin of 50.0%; • Adjusted earnings per share of $4.58, up 53% from $3.00 in the prior year's quarter; and • Upward revision to fiscal 2023 financial guidance.