TDG - TransDigm Group reports Q1 earnings beat; raises FY23 guidance

• TransDigm Group press release ( NYSE: TDG ): Q1 Non-GAAP EPS of $4.58 beats by $0.28 .
• Revenue of $1.4B (+17.6% Y/Y) beats by $20M .
• EBITDA of $699M, up 24% from $565M in the prior year's quarter.
• Upward revision to fiscal 2023 financial guidance : Net sales are anticipated to be in the range of $6,070 million to $6,240 million compared with $5,429 million in fiscal 2022 (an increase of $65 million at the mid-point) vs. consensus of $6.08B.
• Net income from continuing operations is anticipated to be in the range of $1,080 million to $1,160 million compared with $866 million in fiscal 2022 (an increase of $44 million at the mid-point).
• Earnings per share from continuing operations is expected to be in the range of $18.24 to $19.64 per share based upon weighted average shares outstanding of 57.1 million shares compared with $13.38 per share in fiscal 2022 (an increase of $0.79 at the mid-point).
• EBITDA As Defined is anticipated to be in the range of $3,060 million to $3,160 million compared with $2,646 million in fiscal 2022.
• Adjusted earnings per share is expected to be in the range of $21.47 to $22.87 per share compared with $17.14 per share in fiscal 2022 (an increase of $0.79 at the mid-point) vs. consensus of $21.80.

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