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Aerospace supplier TransDigm beats quarterly estimates on strong demand
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Aerospace supplier TransDigm beats quarterly estimates on strong demand
Aug 6, 2024 5:45 AM

Aug 6 (Reuters) - Aerospace supplier TransDigm Group ( TDG )

on Tuesday beat third-quarter earnings estimates as

robust travel demand led to increased orders for components and

aftermarket parts from planemakers and carriers.

Shares were up 3% in premarket trading in light volumes.

Aircraft parts suppliers are seeing strong demand as

planemakers ramp up production to fulfill airlines' expansion

plans.

Delayed new plane deliveries have also pushed airlines to

extend the use of older aircraft, boosting orders for profitable

aftermarket parts.

The company deployed over $2.2 billion of capital in the

past three months in relation to acquisitions of SEI Industries,

the CPI Electron Device Business and Raptor Scientific to beef

up its product offerings.

Ohio-based TransDigm ( TDG ) currently makes

mechanical/electro-mechanical actuators and controls, ignition

systems and other parts for the aerospace market.

Quarterly net sales jumped 17% to $2.04 billion, ahead of

estimates of $2.01 billion, as per LSEG data.

Profit for the quarter ended June 29 was $7.96 per share,

beating expectations of $7.56 per share.

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