TransDigm Group IncorporatedNYSE
Transdigm: M&A Playbook Running Out Of Fuel
Tue, Nov. 15, 1:05 PM
- TransDigm (TDG +2.3%) recoups part of yesterday's 7% drubbing suffered when its FQ4 earnings, which beat analyst expectations, were overshadowed by downside FY 2017 guidance.
- TDG said it now sees FY 2017 EPS of $11.84-$12.12, vs. $12.78 analyst consensus estimate, on revenues of $3.515B-$3.565B vs. $3.57B consensus, saying it remains cautious on the duration of the commercial transport OEM cycle.
- Deutsche Bank upgrades shares to Buy from Hold and raises its price target to $290 from $282 following the selloff, saying investors were too caught up in the FY 2017 shortfall to consensus EPS while missing the implied free cash flow growth in the outlook, which came in 20% better than expected.
- Canaccord Genuity keeps its Buy rating and $325 price target, believing TDG's fundamentals remain solid as it continues to view the company as one of the best managed in the group.
Mon, Nov. 14, 7:18 AM
Sun, Nov. 13, 5:30 PM
Fri, Oct. 14, 4:15 PM
Sat, Oct. 8, 8:25 AM
- “This is the bottom” for Honeywell's (NYSE:HON) businesses exposed to the oil and gas industries, but troubles in the business jet industry “will get worse” next year, CEO David Cote said Friday, a day after the company cut its earnings and sales forecast, causing shares to slide 7.5% in their worst showing in five years.
- "This was a surprise," says William Blair's Nick Heymann, as HON had been considered a safe-haven stock amid sluggish industrial growth, on Cote's reputation and record of delivering on profit targets.
- Morgan Stanley analyst Nigel Coe compared HON’s announcement to a “paella bowl” dropped in front of investors and said “credibility is becoming a growing issue.”
- Other analysts are more confident: J.P. Morgan's Steve Tusa says "it's not that bad in the grand scheme," noting that HON’s profits are off ~5% YTD, roughly in line with its industrial peers.
- “While this quarter and maybe next quarter look to be a little bit worse than anticipated, we still believe they’re well positioned long term to benefit from growth opportunities," according to Edward Jones' Jeff WIndau.
- HON supplies parts to Textron (NYSE:TXT) and General Dynamics (NYSE:GD), which fell a respective 3.6% and 0.8% yesterday, while aerospace parts makers Heico (NYSE:HEI), B/E Aerospace (NASDAQ:BEAV) and TransDigm (NYSE:TDG) each slid more than 1%; also, GE slipped 0.6%, United Technologies (NYSE:UTX) fell 1.5%, and Boeing (NYSE:BA) lost 0.4%.
Tue, Oct. 4, 8:54 AM
- TransDigm (NYSE:TDG) says it is seeking to increase its existing term loan facility by an additional $650M term loan, tied to its consideration of paying a special dividend of $1.1B-$1.5B with the proceeds of the proposed new term loan and cash on hand.
- TDG also reaffirms its FY 2016 guidance, expecting sales at or slightly below the low end of the $3.17B-$3.19B range and EBITDA at or slightly above the midpoint of the $1.48B-$1.5B range.
Wed, Sep. 7, 11:46 AM
- TransDigm Group (TDG +0.4%) agrees to acquire Young & Franklin and Tactair Fluid Controls, manufacturers of highly engineered valves and actuators, for $260M.
- TDG expects Young & Franklin revenues of ~$75M for FY 2016, with nearly 100% from proprietary products, and ~70% coming from the aerospace field and the balance sold to the industrial gas turbine market.
Tue, Aug. 9, 8:46 AM
- Adjusted net income of $172.2M, or $3.09 per share vs. $128.1M, or $$2.26 per share in the same quarter a year ago.
- Net sales grew 15.4% Y/Y to $797.7M, while EBITDA increased 22.7% to $383.9M.
- Updated fiscal outlook for 2016: Net income of $573M-$583M; Adjusted earnings per share of $11.21 to 11.39; Net sales of $3.17B-$3.19B; EBITDA of $1.483B-$1.497B.
- FQ3 results
Tue, Aug. 9, 7:16 AM
Mon, Aug. 8, 5:30 PM
- ACM, AER, AMAG, AMRC, AMSC, ARES, BDSI, BERY, BITA, BR, CECE, CHTR, CNK, COH, CORE, EGRX, ENZY, EVEP, EXC, GLPI, GWPH, HCP, HHS, HPT, HRI, HWCC, INCY, IONS, IPXL, JEC, LABL, LAMR, LGIH, LNCE, LNG, LRN, LXP, MCC, MPAA, MWW, NCLH, NCT, NRG, NXST, NYLD, OCUL, PDCE, PMC, PPL, RDNT, RRGB, RSTI, SATS, SNI, SSH, STE, TDG, TESO, TGH, TLP, TRCO, UNVR, VRTU, VRX, W, WAC, WPRT, WWAV, ZBRA
Thu, Jun. 23, 8:54 AM| Thu, Jun. 23, 8:54 AM
Fri, May 27, 5:39 PM
Fri, May 27, 5:27 PM
- TransDigm (NYSE:TDG) will replace Baxalta (about to be acquired by Shire) in the S&P 500 following the June 2 close.
- [[TDG]] +3.9% after hours to $266.00, making new highs in the process.
Tue, May 24, 9:39 AM
- TransDigm (TDG +1.4%) has agreed to acquire ILC Holdings, the parent of defense firm Data Device Corp., from Behrman Capital for $1B in cash.
- DDC is expected to have revenue of more than $200M in 2016, with about 75% coming from defense and the rest from the commercial aircraft market.
Tue, May 10, 8:48 AM
- Adjusted net income of $160.5M, or $2.86 per share vs. $119.7M, or $2.11 per share in the same quarter a year ago.
- Net sales grew 28.7% Y/Y to $796.8M from $619M in the comparable quarter a year earlier.
- EBITDA increased 28% to $368.6M from $288.1M.
- Upward revision to 2016 fiscal outlook: Net income of $558M-$572M; Adjusted earnings per share of $11.04 to $11.28; Net sales of $3.151B-$3.181B; EBITDA of $1.45B-$1.47B.
- TDG +4.1% premarket
- FQ2 results
Tue, May 10, 7:17 AM
- Transdigm Group (NYSE:TDG): FQ2 EPS of $2.86 beats by $0.28.
- Revenue of $796.8M (+28.7% Y/Y) beats by $19.69M.