Feb 4 (Reuters) - Aerospace supplier TransDigm Group ( TDG )
raised its annual profit forecast on Tuesday, betting on
strong demand for aftermarket parts and services from
planemakers and carriers.
The company, which supplies aircraft components such as
cockpit security systems and engine sensors for commercial and
military jets, also beat Wall Street estimates for quarterly
profit.
Demand for aircraft parts has risen as planemakers rush
to fulfill expansion plans by airlines looking to cash in on the
booming market for air travel.
However, delayed deliveries of new planes have pushed
airlines to extend the use of older aircraft, boosting orders
for profitable aftermarket parts for suppliers such as
TransDigm ( TDG ).
The Cleveland, Ohio-based company expects its 2025 profit
per share to be between $32.27 and $34.19, compared to the
previous forecast of $31.47 to $33.39.
The company, which counts planemakers Boeing ( BA ) and
Airbus among its customers, reaffirmed its annual sales
forecast of $8.75 billion to $8.95 billion.
It posted an adjusted profit of $7.83 per share for the
first quarter, beating analysts' average estimate of $7.65,
according to data compiled by LSEG.
The company's net sales for the quarter through Dec. 28 rose
12% to $2 billion, compared with expectations of $2.03 billion.