TransDigm Group TDG reported mixed results for the fourth quarter. While adjusted EPS came in above the estimates, revenue missed. The company’s adjusted EPS forecast for fiscal year 2017 also came in below the expectations.
- Reports 16.3 percent increase in adjusted EPS to $3.29, $0.09 above estimates.
- Delivers 8.1 percent growth in revenue to $875.2 million; misses by $7.81 million.
- Expects to deliver adjusted EPS of $11.84 - $12.12 for fiscal year 2017 compared to analysts’ expectations of $12.80.
- Net sales are expected between $3.515 and $3.565 billion versus analysts’ estimate of $3.59 billion.
TransDigm CEO Nicholas Howley said, "Our fiscal 2017 guidance assumes that our commercial aftermarket revenues will be up in the mid to high single-digit percentage range, commercial OEM revenues up in the low to mid-single-digit percentage range and defense revenues flat to slightly up. We remain cautious on the duration of the commercial transport OEM cycle but still expect to continue to generate substantial intrinsic value for our shareholders."
The stock traded up 0.26 percent to $273.00 in the pre-market session.
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