TransDigm said it posted net sales of $1,789 million, net income attributable to TD Group of $382 million, and EBITDA As Defined of $912 million, or 51.0% of net sales, for the first quarter of fiscal 2024, Q1.

1. 01

   TransDigm said it posted net sales of $1,789 million, net income attributable to TD Group of $382 million, and EBITDA As Defined of $912 million, or 51.0% of net sales, for the first quarter of fiscal 2024, Q1.

2. 02

   The company said organic sales rose $328 million over the 13-week period, led by increases in defense sales of $149 million (28.0%), commercial aftermarket sales of $101 million (21.3%) and commercial OEM sales of $77 million (24.9%). It attributed the acquisition sales to Calspan, which it acquired in the third quarter of fiscal 2023, Q3.

3. 03

   The company said it entered into an agreement on November 9, 2023 to acquire the Electron Device Business of CPI for about $1,385 million in cash, and that it expects the deal to close in fiscal 2024. It also said it issued $1,000 million of 7.125% senior secured notes due 2031 and $1,000 million of Tranche J term loans on November 28, 2023.

4. 04

   The company said it generated $636 million of net cash from operating activities in the 13-week period, compared with $377 million a year earlier. It also said net cash inflow from financing activities was $67 million in the same period, and that dividend and dividend equivalent payments were $2,038 million.

Key figures

Quarter ended December 30, 2023

Revenue

$1.8B

Operating income

$787M

Net income

$382M

EPS

$4.87

Gross profit

$1.0B

Operating cash flow

$636M

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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