TDG - TransDigm sees signs of aerospace recovery guidance still suspended

Aerospace investors this morning were watching the earnings of TransDigm (TDG), a global designer, producer and supplier of highly engineered aircraft components.Adjusted net income for Q1 plunged 48.3% Y/Y to $151M, or $2.58 per share, but the results beat estimates by $0.04. Revenue also fell 17.4% Y/Y to $1.19B, but the figure topped expectations by $10M."The commercial aerospace industry has continued to show signs of recovery in recent months with the distribution of the COVID-19 vaccine and increasing air traffic, especially in certain domestic markets," said CEO Kevin Stein. "We also saw another quarter of strong sequential improvement in our commercial bookings. These trends are encouraging and although the pace of the recovery is uncertain, we remain ready to meet the demand as it returns.""Additionally, I am very pleased that we continue to sequentially expand our EBITDA As Defined margin as a result of careful management of our cost structure

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TransDigm sees signs of aerospace recovery, guidance still suspended