Transdigm Group Stock Price, News & Analysis

TransDigm Group (NYSE:TDG) announced it will not pursue an offer for Meggitt PLC due to limited due diligence information. Despite recognizing potential synergies, Chairman W. Nicholas Howley emphasized that a 900 pence offer did not align with their value creation goals. TransDigm had conducted extensive evaluations and arranged acquisition financing, but the uncertainties led to the decision. The company retains the option to revisit its stance should circumstances change, adhering to its disciplined approach to capital allocation.

On August 11, 2021, TransDigm Group confirmed its approach to Meggitt PLC for a potential acquisition of its entire share capital for cash. This announcement adheres to Rule 2.4 of the City Code on Takeovers and Mergers. TransDigm emphasized that there is no certainty that a firm offer will be made, nor the terms that may apply. The company retains the right to change the type of consideration proposed. A deadline for clarification of intentions concerning Meggitt will be announced by the Panel. Further updates will be communicated as necessary.

TransDigm Group Incorporated (TDG) reported Q3 2021 results with net sales of $1,218 million, up 19% from last year. Income from continuing operations rose to $317 million, a significant recovery from a loss of $5 million in the same quarter last year. Adjusted earnings per share hit $3.33, a 116% increase. However, fiscal 2021 guidance remains suspended due to ongoing COVID-19 impacts. The company announced a leadership change, with W. Nicholas Howley stepping down as Executive Chairman, now Non-Executive Chairman.

TransDigm Group (NYSE: TDG) will announce its fiscal 2021 third-quarter earnings on August 10, 2021, before market opening. A conference call is scheduled for 11:00 a.m. ET on the same day, with dial-in options for U.S. and international participants. The call will also be available as a live audio webcast on the company's website, archived for later access. TransDigm is a key player in providing highly engineered aircraft components across the aerospace industry, serving both commercial and military sectors.

TransDigm Group appointed Jane M. Cronin to its Board of Directors on July 1, 2021. Cronin, currently Senior Vice President – Corporate Controller of Sherwin Williams, brings extensive experience in public company accounting and integration with acquisitions. Her addition is anticipated to enhance TransDigm's financial oversight and strategic growth. The Board confirmed her independence under NYSE and SEC standards, reflecting a commitment to strong governance. TransDigm is recognized for providing engineered aircraft components to the aerospace industry.

TransDigm Group (NYSE: TDG) has finalized the sale of its ScioTeq and TREALITY Simulation Visual Systems businesses to OpenGate Capital for approximately $200 million. These businesses, acquired in March 2019, generated about $135 million in revenues for the fiscal year ending September 30, 2020. The financial results of these businesses will remain classified as continuing operations under U.S. GAAP.

This divestiture allows TransDigm to focus on its core aerospace components business.

TransDigm Group (NYSE: TDG) reported Q2 results for the quarter ending April 3, 2021, showing significant impacts from the COVID-19 pandemic. Net sales declined by 17.3% to $1,194 million, and income from continuing operations fell 67.5% to $105 million. EBITDA decreased 29.8% to $464 million, with an EBITDA margin of 43.5%. Adjusted EPS was $2.58, down 48.3% year-over-year. The company's financial guidance remains suspended amid ongoing uncertainties, though there were signs of recovery in the commercial aerospace sector.

TransDigm Group (NYSE: TDG) will announce its fiscal 2021 second quarter earnings on May 11, 2021, before the market opens. Following the earnings report, a conference call is scheduled for 11:00 a.m. ET, where investors can participate by calling (833) 397-0943 or accessing the live audio webcast at transdigm.com. The earnings call will be archived for later replay, providing investors with access to important financial information.

TransDigm Group announced plans to offer $750 million in senior subordinated notes through its subsidiary, TransDigm Inc. The offering is intended to refinance existing 6.500% senior subordinated notes due 2025. The new notes will be guaranteed by TransDigm Group and its subsidiaries, subject to market conditions. Proceeds will be used to redeem the old notes and cover related costs. The offering is only available to qualified institutional buyers and non-U.S. persons.