On Tuesday, Aerospace supplier TransDigm Group (NYSE: TDG) 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 with acquisitions of SEI Industries, the CPI Electron Device Business, and Raptor Scientific to beef up its product offerings.
Meanwhile, Ohio-based TransDigm (NYSE: TDG) 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.
(Source: ReutersReuters)
