Why Shares of TransDigm Traded Up 10.9% in August
Shares of TransDigm Group (NYSE: TDG) gained 10.9% in August, according to data provided by S&P Global Market Intelligence, on the strength of the aerospace component manufacturer's quarterly results. There has been a lot of noise surrounding this longtime highflier, but the blowout performance in the quarter provided a fresh reminder about how strong the underlying business continues to be.
TransDigm reported fiscal third-quarter earnings of $4.95 per share, easily beating Wall Street's $4.30 consensus, fueled by organic sales growth of 11.8%. It's the third consecutive quarter of double-digit organic revenue growth. Defense and commercial original equipment sales led the way with double-digit gains, and aftermarket (sales of replacement parts to airplane operators) was up 8%.
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Source Fool.com
