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.