Transdigm Group Incorporated (TDG)

TransDigm Group Reports Fiscal 2026 Second Quarter ResultsMay 5, 2026 7:15 AM
PR Newswire (US) CLEVELAND, May 5, 2026 /PRNewswire/ -- TransDigm Group Incorporated (NYSE: TDG), a leading global designer, producer and supplier of highly engineered aircraft components, today reported results for the second quarter ended March 28, 2026. Second quarter highlights include:Net sales of $2,544 million, up 18% from $2,150 million in the prior year's quarter;Net income of $536 million, up 12% from the prior year's quarter;Earnings per share of $9.20, up 12% from the prior year's quarter;EBITDA As Defined of $1,337 million, up 15% from $1,162 million in the prior year's quarter;EBITDA As Defined margin of 52.6%;Adjusted earnings per share of $9.85, up 8% from $9.11 in the prior year's quarter; andUpward revision to fiscal 2026 financial guidance.Quarter-to-Date ResultsNet sales for the quarter increased 18.3%, or $394 million, to $2,544 million from $2,150 million in the comparable quarter a year ago. Organic sales growth as a percentage of net sales was 11.0%.Net income for the quarter increased $57 million, or 11.9%, from $479 million in the comparable quarter a year ago. The increase in net income primarily reflects the increase in net sales described above, the application of our value-driven operating strategy, and lower non-cash stock and deferred compensation expense. The increase was partially offset by higher interest expense as a result of the increase in TransDigm's year-over-year gross debt balance.Adjusted net income for the quarter increased 8.5% to $574 million, or $9.85 per share, from $529 million, or $9.11 per share, in the comparable quarter a year ago.EBITDA for the quarter increased 18.4% to $1,289 million from $1,089 million for the comparable quarter a year ago. EBITDA As Defined for the quarter increased 15.1% to $1,337 million compared with $1,162 million in the comparable quarter a year ago. EBITDA As Defined as a percentage of net sales for the quarter was 52.6% compared with 54.0% in the comparable quarter a year ago."We are pleased with our team's performance and operating results for the second quarter," stated Mike Lisman, TransDigm Group's CEO. "Total revenue continued ahead of our expectations with double-digit growth across all three of our major market channels compared to the prior year's second quarter. Commercial aftermarket exhibited the highest growth across our three end markets, driven by our commercial transport segment growing 16% in the quarter. Commercial OEM market revenue increased in the double digits on a percentage basis as we continued supporting higher build rates at the OEMs. Our reported EBITDA As Defined margin for the quarter was 52.6%. Adjusting for acquisition dilution, the EBITDA margins of our base businesses improved nicely on a year over year basis and in line with our expectations. The team continues to execute our value drivers.Shortly after the quarter ended, we completed the acquisitions of the previously announced Jet Parts Engineering and Victor Sierra businesses for $2.2 billion. We are excited to have them as part of TransDigm. Additionally, during the second quarter and continuing into the first week of April, we returned $800 million of capital to our shareholders through share repurchases, bringing the total amount of share repurchases in the fiscal year to date to approximately $905 million.As we look ahead to the remainder of fiscal 2026, we have significant liquidity and financial flexibility to address any likely range of capital requirements and remain highly focused on our capital allocation.As always, we remain committed to our operating strategy and the TransDigm value drivers. We look forward to the opportunity to continue creating value for our shareholders through the second half of fiscal 2026."Acquisition ActivitySubsequent to the quarter, on April 7, 2026, TransDigm completed the acquisition of Jet Parts Engineering  and Victor Sierra for $2.2 billion in cash. Jet Parts Engineering is a leading independent designer and manufacturer of aerospace aftermarket solutions, primarily proprietary OEM-alternative parts and repairs. Victor Sierra is a leading designer, manufacturer, and distributor of proprietary PMA and other aftermarket parts serving the commercial aerospace end market — primarily the general aviation and business aviation sectors.As previously announced on December 31, 2025, TransDigm has entered into a definitive agreement to acquire Stellant Systems, Inc. from Arlington Capital Partners for approximately $960 million in cash. Stellant is a leading global designer and manufacturer of high-power electronic components and subsystems serving the aerospace and defense end market.Financing ActivityDuring the quarter, on February 13, 2026, TransDigm successfully completed a private offering of $1.2 billion of 6.125% Senior Subordinated Notes maturing July 31, 2034 along with $0.8 billion of new Tranche N term loans maturing on February 13, 2033. TransDigm used the net proceeds from the offering, plus cash on hand, to fund the acquisition of Jet Parts Engineering and Victor Sierra which closed on April 7, 2026.Subsequent to the quarter, on April 17, 2026, TransDigm completed an incremental debt offering of $1.5 billion of new debt consisting of an additional $0.5 billion of 6.125% Senior Subordinated Notes maturing July 31, 2034 and $1.0 billion of additional Tranche N term loans maturing February 13, 2033.Share Repurchase Activity During the second quarter of fiscal 2026, TransDigm repurchased 602,070 shares of its common stock at an average price per share of $1,201 for a total amount of $723 million. For the twenty-six week period ended March 28, 2026, TransDigm repurchased 687,282 shares of its common stock at an average price per share of $1,207 for a total amount of $829 million.Subsequent to the quarter-end, TransDigm repurchased an additional 66,537 shares at an average price per share of $1,139 for a total amount of approximately $76 million. The total stock repurchases year-to-date is $905 million.Year-to-Date ResultsNet sales for the twenty-six week period ended March 28, 2026 increased 16.2%, or $672 million, to $4,828 million from $4,156 million in the comparable period a year ago. Organic sales growth as a percentage of net sales for fiscal 2026 was 9.3%.Net income for the twenty-six week period ended March 28, 2026 increased $9 million, or 0.9%, to $981 million from $972 million in the comparable period a year ago. The increase in net income primarily reflects the increase in net sales described above, the application of our value-driven operating strategy, and lower non-cash stock and deferred compensation expense. The increase was mostly offset by higher interest expense and income tax expense.GAAP earnings per share were reduced for the twenty-six week periods ended March 28, 2026 and March 29, 2025 by $1.02 per share and $0.83 per share, respectively, as a result of dividend equivalent payments made during each year. As a reminder, GAAP earnings per share are reduced when TransDigm makes dividend equivalent payments pursuant to its stock option plans. These dividend equivalent payments are made during TransDigm's first fiscal quarter each year and also upon payment of any special dividends.Adjusted net income for the twenty-six week period ended March 28, 2026 increased 6.8% to $1,053 million, or $18.09 per share, from $986 million, or $16.94 per share, in the comparable period a year ago.EBITDA for the twenty-six week period ended March 28, 2026 increased 11.9% to $2,436 million from $2,176 million for the comparable period a year ago. EBITDA As Defined for the period increased 13.9% to $2,534 million compared with $2,224 million in the comparable period a year ago. EBITDA As Defined as a percentage of net sales for the period was 52.5% compared with 53.5% in the comparable period a year ago.Please see the attached tables for a reconciliation of net income to EBITDA, EBITDA As Defined, and adjusted net income; a reconciliation of net cash provided by operating activities to EBITDA and EBITDA As Defined; and a reconciliation of earnings per share to adjusted earnings per share for the periods discussed in this press release.Fiscal 2026 OutlookMr. Lisman stated, "We are pleased to once again raise our full year fiscal 2026 financial guidance to reflect our strong second quarter performance and incorporate the recently closed acquisition of Jet Parts Engineering and Victor Sierra. At the mid-point, we are increasing guidance for sales by $420 million, EBITDA As Defined guidance by $210 million, and adjusted EPS by $1.14. The large majority of this guidance increase is coming from stronger than expected performance in our base business, with a smaller amount of the increase derived from the inclusion of the recent acquisitions.While increasing full-year guidance, we recognize there is uncertainty in the broader aerospace environment which, depending on the duration, may impact our markets, specifically commercial aftermarket. Based on the strong performance to date as well as our near-term outlook, we shifted our market channel guidance upward. This guidance excludes any contribution from the pending acquisition of Stellant.The current environment is very dynamic and we will continue to monitor the markets closely as the year progresses."TransDigm now expects fiscal 2026 financial guidance to be as follows:Net sales are anticipated to be in the range of $10,300 million to $10,420 million compared with $8,831 million in fiscal 2025, an increase of 17.3% at the midpoint (an increase of $420 million at the midpoint from prior guidance);Net income is anticipated to be in the range of $2,026 million to $2,106 million compared with $2,074 million in fiscal 2025, a decrease of 0.4% at the midpoint primarily due to additional interest expense relating to the financing activities completed during the fourth quarter of fiscal 2025 and the second quarter of fiscal 2026 (an increase of $58 million at the midpoint from prior guidance);Earnings per share is expected to be in the range of $33.91 to $35.29 per share based upon weighted average shares outstanding of 58.0 million shares, compared with $32.08 per share in fiscal 2025, which is an increase of 7.9% at the midpoint (an increase of $1.17 per share at the midpoint from prior guidance);EBITDA As Defined is anticipated to be in the range of $5,370 million to $5,470 million compared with $4,760 million in fiscal 2025, an increase of 13.9% at the midpoint (an increase of $210 million at the midpoint from prior guidance and corresponding to an EBITDA As Defined margin guide of approximately 52.3% for fiscal 2026);Adjusted earnings per share is expected to be in the range of $38.83 to $40.21 per share compared with $37.33 per share in fiscal 2025, an increase of 5.9% at the midpoint compared to prior year (an increase of $1.14 per share at the midpoint from prior guidance); and Fiscal 2026 outlook is based on the following market growth assumptions:Commercial OEM revenue growth in the low double-digit to mid-teens percentage range;Commercial aftermarket revenue growth in the high single-digit to low double-digit percentage range; andDefense revenue growth in the high single-digit percentage range.Please see the attached Table 6 for a reconciliation of EBITDA, EBITDA As Defined to net income and reported earnings per share to adjusted earnings per share guidance midpoint estimated for the fiscal year ending September 30, 2026. Additionally, please see attached Table 7 for comparison of the current fiscal year 2026 guidance versus the previously issued fiscal year 2026 guidance.Earnings Conference CallTransDigm Group will host a conference call for investors and security analysts on May 5, 2026, beginning at 11:00 a.m., Eastern Time. To join the call telephonically, please register for the call at https://register-conf.media-server.com/register/BI680a67e1f8be4f1d8817836c561ed39f . Once registered, participants will receive the dial-in information and a unique pin to access the call. The dial-in information and unique pin will be sent to the email used to register for the call. The unique pin is exclusive to the registrant and can only be used by one person at a time. A live audio webcast of the call can also be accessed online at https://www.transdigm.com. A slide presentation will also be available for reference during the conference call; go to the investor relations page of our website and click on "Presentations."The call will be archived on the website and available for replay at approximately 2:00 p.m., Eastern Time.About TransDigm GroupTransDigm Group, through its wholly-owned subsidiaries, is a leading global designer, producer and supplier of highly engineered aircraft components for use on nearly all commercial and military aircraft in service today. Major product offerings, substantially all of which are ultimately provided to end-users in the aerospace industry, include mechanical/electro-mechanical actuators and controls, ignition systems and engine technology, specialized pumps and valves, power conditioning devices, specialized AC/DC electric motors and generators, batteries and chargers, engineered latching and locking devices, engineered rods, engineered connectors and elastomer sealing solutions, databus and power controls, cockpit security components and systems, specialized and advanced cockpit displays, engineered audio, radio and antenna systems, specialized lavatory components, seat belts and safety restraints, engineered and customized interior surfaces and related components, advanced sensor products, switches and relay panels, thermal protection and insulation, lighting and control technology, parachutes, high performance hoists, winches and lifting devices, and cargo loading, handling and delivery systems, specialized flight, wind tunnel and jet engine testing services and equipment, electronic components used in the generation, amplification, transmission and reception of microwave signals, and complex testing and instrumentation solutions.Non-GAAP Supplemental InformationEBITDA, EBITDA As Defined, EBITDA As Defined margin, adjusted net income and adjusted earnings per share are non-GAAP financial measures presented in this press release as supplemental disclosures to net income and reported results. TransDigm Group defines EBITDA as earnings before interest, taxes, depreciation and amortization and defines EBITDA As Defined as EBITDA plus certain non-operating items recorded as corporate expenses, including non-cash compensation charges incurred in connection with TransDigm Group's stock option or deferred compensation plans, foreign currency gains and losses, acquisition-integration costs, acquisition transaction-related expenses, and refinancing costs. Acquisition transaction and integration-related expenses represent costs incurred to integrate acquired businesses into our operations; facility relocation costs and other acquisition-related costs; transaction and valuation-related costs for acquisitions comprising deal fees, legal, financial and tax due diligence expenses; and amortization expense of inventory step-up recorded in connection with the purchase accounting of acquired businesses. TransDigm Group defines adjusted net income as net income plus purchase accounting backlog amortization expense, effects from the sale on businesses, non-cash compensation charges incurred in connection with TransDigm Group's stock option or deferred compensation plans, foreign currency gains and losses, acquisition-integration costs, acquisition transaction-related expenses, and refinancing costs. EBITDA As Defined margin represents EBITDA As Defined as a percentage of net sales. TransDigm Group defines adjusted diluted earnings per share as adjusted net income divided by the total outstanding shares for basic and diluted earnings per share. For more information regarding the computation of EBITDA, EBITDA As Defined, adjusted net income and adjusted earnings per share, please see the attached financial tables.TransDigm Group presents these non-GAAP financial measures because it believes that they are useful indicators of its operating performance. TransDigm Group believes that EBITDA is useful to investors because it is frequently used by securities analysts, investors and other interested parties to measure operating performance among companies with different capital structures, effective tax rates and tax attributes, capitalized asset values and employee compensation structures, all of which can vary substantially from company to company. In addition, analysts, rating agencies and others use EBITDA to evaluate a company's ability to incur and service debt. EBITDA As Defined is used to measure TransDigm Inc.'s compliance with the financial covenant contained in its credit facility. TransDigm Group's management also uses EBITDA As Defined to review and assess its operating performance, to prepare its annual budget and financial projections and to review and evaluate its management team in connection with employee incentive programs. Moreover, TransDigm Group's management uses EBITDA As Defined to evaluate acquisitions and as a liquidity measure. In addition, TransDigm Group's management uses adjusted net income as a measure of comparable operating performance between time periods and among companies as it is reflective of changes in pricing decisions, cost controls and other factors that affect operating performance.None of EBITDA, EBITDA As Defined, EBITDA As Defined margin, adjusted net income or adjusted earnings per share is a measurement of financial performance under U.S. GAAP and such financial measures should not be considered as an alternative to net income, operating income, earnings per share, cash flows from operating activities or other measures of performance determined in accordance with U.S. GAAP. In addition, TransDigm Group's calculation of these non-GAAP financial measures may not be comparable to the calculation of similarly titled measures reported by other companies.Although we use EBITDA and EBITDA As Defined as measures to assess the performance of our business and for the other purposes set forth above, the use of these non-GAAP financial measures as analytical tools has limitations, and you should not consider any of them in isolation, or as a substitute for analysis of our results of operations as reported in accordance with U.S. GAAP. Some of these limitations are:neither EBITDA nor EBITDA As Defined reflects the significant interest expense, or the cash requirements, necessary to service interest payments on our indebtedness;although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future, and neither EBITDA nor EBITDA As Defined reflects any cash requirements for such replacements;the omission of the substantial amortization expense associated with our intangible assets further limits the usefulness of EBITDA and EBITDA As Defined;neither EBITDA nor EBITDA As Defined includes the payment of taxes, which is a necessary element of our operations; andEBITDA As Defined excludes the cash expense we have incurred to integrate acquired businesses into our operations, which is a necessary element of certain of our acquisitions.Forward-Looking StatementsStatements in this press release that are not historical facts, including statements under the heading "Fiscal 2026 Outlook," are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "believe," "may," "will," "should," "expect," "intend," "plan," "predict," "anticipate," "estimate," or "continue" and other words and terms of similar meaning may identify forward-looking statements.All forward-looking statements involve risks and uncertainties that could cause TransDigm Group's actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, TransDigm Group. These risks and uncertainties include but are not limited to: the sensitivity of our business to the number of flight hours that our customers' planes spend aloft and our customers' profitability, both of which are affected by general economic conditions; supply chain constraints; increases in raw material costs, taxes and labor costs that cannot be recovered in product pricing; failure to complete or successfully integrate acquisitions; our indebtedness; current and future geopolitical or other worldwide events, including, without limitation, wars or conflicts and public health crises; cybersecurity threats; risks related to the transition or physical impacts of climate change and other natural disasters or meeting regulatory requirements; our reliance on certain customers; the United States ("U.S.") defense budget and risks associated with being a government supplier including government audits and investigations; failure to maintain government or industry approvals; risks related to changes in laws and regulations, including increases in compliance costs and potential changes in trade policies and tariffs; potential environmental liabilities; liabilities arising in connection with litigation; risks and costs associated with our international sales and operations; and other factors. Further information regarding the important factors that could cause actual results to differ materially from projected results can be found in TransDigm Group's most recent Annual Report on Form 10-K and other reports that TransDigm Group or its subsidiaries have filed with the Securities and Exchange Commission. Except as required by law, TransDigm Group undertakes no obligation to revise or update the forward-looking statements contained in this press release.Contact:
Investor Relations

216-706-2945

ir@transdigm.com TRANSDIGM GROUP INCORPORATED

CONSOLIDATED STATEMENTS OF INCOME

FOR THE THIRTEEN AND TWENTY-SIX WEEK PERIODS ENDED
Table 1MARCH 28, 2026 AND MARCH 29, 2025
(Amounts in millions, except per share amounts)

(Unaudited)









Thirteen Week Periods Ended
Twenty-Six Week Periods Ended

March 28, 2026
March 29, 2025
March 28, 2026
March 29, 2025NET SALES
$            2,544
$            2,150
$            4,828
$            4,156COST OF SALES
1,033
876
1,965
1,647GROSS PROFIT
1,511
1,274
2,863
2,509SELLING AND ADMINISTRATIVE EXPENSES
273
236
527
447AMORTIZATION OF INTANGIBLE ASSETS
60
47
116
97INCOME FROM OPERATIONS
1,178
991
2,220
1,965INTEREST EXPENSE—NET
484
378
959
756OTHER INCOME
(6)
(9)
(11)
(32)INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
700
622
1,272
1,241INCOME TAX PROVISION
164
143
291
269NET INCOME
536
479
981
972LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS
(1)
—
(1)
—NET INCOME ATTRIBUTABLE TO TD GROUP
$               535
$               479
$               980
$               972NET INCOME APPLICABLE TO TD GROUP COMMON STOCKHOLDERS
$               535
$               479
$               921
$               923








Earnings per share attributable to TD Group common stockholders:







Earnings per share—Basic and diluted
$              9.20
$              8.24
$            15.82
$            15.86








Weighted-average shares outstanding:







Basic and diluted
58.2
58.1
58.2
58.2 TRANSDIGM GROUP INCORPORATED

SUPPLEMENTAL INFORMATION - RECONCILIATION OF

EBITDA, EBITDA AS DEFINED TO NET INCOME

FOR THE THIRTEEN AND TWENTY-SIX WEEK PERIODS ENDED
Table 2MARCH 28, 2026 AND MARCH 29, 2025
(Amounts in millions, except per share amounts)

(Unaudited)









Thirteen Week Periods Ended
Twenty-Six Week Periods Ended

March 28, 2026
March 29, 2025
March 28, 2026
March 29, 2025Net Income
$            536
$            479
$            981
$            972Adjustments:







Depreciation and amortization expense
105
89
205
179Interest expense-net
484
378
959
756Income tax provision
164
143
291
269EBITDA
1,289
$         1,089
2,436
2,176Adjustments:







Acquisition transaction and integration-related expenses (1)
19
9
31
22Non-cash stock and deferred compensation expense (2)
26
48
53
73Other, net (3)
3
16
14
(47)Gross Adjustments to EBITDA
48
73
98
48EBITDA As Defined
$         1,337
$         1,162
$         2,534
$         2,224EBITDA As Defined Margin (4)
52.6 %
54.0 %
52.5 %
53.5 %____________________(1)
Represents costs incurred to integrate acquired businesses into our operations; facility relocation costs and other acquisition-related costs; transaction and valuation-related costs for acquisitions comprising deal fees, legal, financial and tax due diligence expenses; and amortization expense of inventory step-up recorded in connection with the purchase accounting of acquired businesses.


(2)
Represents the compensation expense recognized under our stock option plans and deferred compensation plans.


(3)
Primarily represents foreign currency transaction gains or losses, payroll withholding taxes related to dividend equivalent payments and stock option exercises, non-service related pension costs, deferred compensation payments and other miscellaneous income or expense, such as gain on sale of business.


(4)
The EBITDA As Defined Margin represents the amount of EBITDA As Defined as a percentage of net sales. TRANSDIGM GROUP INCORPORATED

SUPPLEMENTAL INFORMATION - RECONCILIATION OF REPORTED

EARNINGS PER SHARE TO ADJUSTED EARNINGS PER SHARE

FOR THE THIRTEEN AND TWENTY-SIX WEEK PERIODS ENDED
Table 3MARCH 28, 2026 AND MARCH 29, 2025
(Amounts in millions, except per share amounts)

(Unaudited)









Thirteen Week Periods Ended
Twenty-Six Week Periods Ended

March 28, 2026
March 29, 2025
March 28, 2026
March 29, 2025Reported Earnings Per Share







Net income
$                536
$                479
$                981
$                972Less: Net income attributable to noncontrolling interests
(1)
—
(1)
—Net income attributable to TD Group
535
479
980
972Less: Dividends paid on participating securities
—
—
(59)
(49)Net income applicable to TD Group common stockholders—basic and diluted
$                535
$                479
$                921
$                923Weighted-average shares outstanding under the two-class method







Weighted-average common shares outstanding
56.4
56.1
56.4
56.2Vested options deemed participating securities
1.8
2.0
1.8
2.0Total shares for basic and diluted earnings per share
58.2
58.1
58.2
58.2Earnings per share—basic and diluted
$               9.20
$               8.24
$             15.82
$             15.86Adjusted Earnings Per Share







Net income
$                536
$                479
$                981
$                972Gross Adjustments to EBITDA
48
73
98
48Purchase Accounting Backlog Amortization
8
2
16
8Tax adjustment (1)
(18)
(25)
(42)
(42)Adjusted net income
$                574
$                529
$             1,053
$                986Adjusted diluted earnings per share under the two-class method
$               9.85
$               9.11
$             18.09
$             16.94Diluted Earnings Per Share to Adjusted Earnings Per Share







Diluted earnings per share from net income attributable to TD Group
$               9.20
$               8.24
$             15.82
$             15.86Adjustments to diluted earnings per share:







Inclusion of the dividend equivalent payments
—
—
1.02
0.83Acquisition transaction and integration-related expenses
0.36
0.14
0.62
0.40Non-cash stock and deferred compensation expense
0.34
0.62
0.69
0.95Tax adjustment on income from continuing operations before taxes (1)
(0.08)
(0.11)
(0.23)
(0.48)Other, net
0.03
0.22
0.17
(0.62)Adjusted earnings per share
$               9.85
$               9.11
$             18.09
$             16.94___________________(1)
For the thirteen and twenty-six week periods ended March 28, 2026 and March 29, 2025, the Tax adjustment represents the tax effect of the adjustments at the applicable effective tax rate, as well as the impact on the effective tax rate when excluding the excess tax benefits on stock option exercises. Stock compensation expense is excluded from adjusted net income and therefore we have excluded the impact that the excess tax benefits on stock option exercises have on the effective tax rate for determining adjusted net income. TRANSDIGM GROUP INCORPORATED

SUPPLEMENTAL INFORMATION - RECONCILIATION OF NET CASH

PROVIDED BY OPERATING ACTIVITIES TO EBITDA, EBITDA AS DEFINED

FOR THE TWENTY-SIX WEEK PERIODS ENDED
Table 4MARCH 28, 2026 AND MARCH 29, 2025
(Amounts in millions)

(Unaudited)





Twenty-Six Week Periods Ended

March 28, 2026
March 29, 2025Net cash provided by operating activities
$               967
$               900Adjustments:



Changes in assets and liabilities, net of effects from acquisitions and sales of businesses
294
322Interest expense-net (1)
936
737Income tax provision-current
292
271Gain on sale of businesses, net
—
19Non-cash stock and deferred compensation expense (2)
(53)
(73)EBITDA
2,436
2,176Adjustments:



Acquisition transaction and integration-related expenses (3)
31
22Non-cash stock and deferred compensation expense (2)
53
73Other, net (4)
14
(47)EBITDA As Defined
$            2,534
$            2,224______________________(1)
Represents interest expense, net of interest income, excluding the amortization of debt issuance costs and discount on debt.


(2)
Represents the compensation expense recognized under our stock option plans and deferred compensation plans.


(3)
Represents costs incurred to integrate acquired businesses into our operations; facility relocation costs and other acquisition-related costs; transaction and valuation-related costs for acquisitions comprising deal fees, legal, financial and tax due diligence expenses; and amortization expense of inventory step-up recorded in connection with the purchase accounting of acquired businesses.


(4)
Primarily represents foreign currency transaction gains or losses, payroll withholding taxes related to dividend equivalent payments and stock option exercises, non-service related pension costs, deferred compensation payments and other miscellaneous income or expense, such as gain on sale of business. TRANSDIGM GROUP INCORPORATED

SUPPLEMENTAL INFORMATION - BALANCE SHEET DATA
Table 5(Amounts in millions)
(Unaudited)





March 28, 2026
September 30, 2025Cash and cash equivalents
$                 3,884
$                 2,808Trade accounts receivable—Net
1,720
1,617Inventories—Net
2,400
2,095Current portion of long-term debt
129
124Short-term borrowings—trade receivable securitization facility
724
724Accounts payable
425
368Accrued and other current liabilities
1,162
966Long-term debt
31,150
29,167Total TD Group stockholders' deficit
(9,402)
(9,686) TRANSDIGM GROUP INCORPORATEDSUPPLEMENTAL INFORMATION - RECONCILIATION OF EBITDA,EBITDA AS DEFINED TO NET INCOME AND REPORTED EARNINGS PERSHARE TO ADJUSTED EARNINGS PER SHARE GUIDANCE MIDPOINTFOR THE FISCAL YEAR ENDING SEPTEMBER 30, 2026Table 6(Amounts in millions, except per share amounts)(Unaudited)



GUIDANCE MIDPOINT

Fiscal Year Ended September 30, 2026Net Income
$                                2,066Adjustments:

Depreciation and amortization expense
438Interest expense-net
2,020Income tax provision
635EBITDA
5,159Adjustments:

Acquisition transaction and integration-related expenses (1)
70Non-cash stock and deferred compensation expense (1)
170Other, net (1)
21Gross Adjustments to EBITDA
261EBITDA As Defined
$                                5,420EBITDA As Defined Margin (1)
52.3 %


Earnings per share
$                                34.60Adjustments to earnings per share:

Inclusion of the dividend equivalent payments
1.02Acquisition transaction and integration-related expenses
1.42Non-cash stock and deferred compensation expense
2.23Other, net
0.25Adjusted earnings per share
$                                39.52


Weighted-average shares outstanding
58.0___________________(1)
Refer to Table 2 above for definitions of Non-GAAP measurement adjustments. TRANSDIGM GROUP INCORPORATED

SUPPLEMENTAL INFORMATIONCURRENT FISCAL YEAR 2026 GUIDANCE VERSUSPRIOR FISCAL YEAR 2026 GUIDANCE
Table 7(Amounts in millions, except per share amounts)
(Unaudited)







Current Fiscal Year 2026
Guidance Issued
May 5, 2026
PriorFiscal Year 2026
Guidance Issued
February 3, 2026
Change at
Midpoint






Net Sales
$10,300 to $10,420
$9,845 to $10,035
$420






GAAP Net Income
$2,026 to $2,106
$1,952 to $2,064
$58






GAAP Earnings Per Share
$33.91 to $35.29
$32.47 to $34.39
$1.17






EBITDA As Defined
$5,370 to $5,470
$5,140 to $5,280
$210






Adjusted Earnings Per Share
$38.83 to $40.21
$37.42 to $39.34
$1.14






Weighted-Average Shares Outstanding
58.0
58.3
(0.3)  View original content to download multimedia:https://www.prnewswire.com/news-releases/transdigm-group-reports-fiscal-2026-second-quarter-results-302762508.htmlSOURCE TransDigm Group Inc. Original: TransDigm Group Reports Fiscal 2026 Second Quarter Results

Hypersonic Test Capacity Bottleneck: U.S. Defense Enterprise Signals Demand as Starfighters Space Brings F-104 Fleet to MarketApril 30, 2026 1:02 PM
PR Newswire (Canada)

Issued on behalf of Starfighters Space, Inc.SECTOR INTELLIGENCE BRIEF | The U.S. is developing next-generation hypersonic systems faster than it is building the infrastructure to test them. Federal procurement signals are clear. Starfighters Space's April 30 announcement positions one of the few operationally-available airborne aerodynamic test platforms in the U.S. directly into that demand window.World Street Intelligence News Commentary CAPE CANAVERAL, Fla., April 30, 2026 /CNW/ -- A Department of Defense procurement pattern that began with NASA's first new wind tunnel build in over four decades, broadened through service-level FY2026 budget allocations across the Air Force, Navy, and Army, and intensified through a March 2026 federal sources-sought notice for hypersonic test facility reactivation now extends into the airborne segment of the test infrastructure stack. On April 30, 2026, Starfighters Space, Inc. (NYSE American: FJET) announced the immediate availability of its F-104 Starfighter fleet — described as the world's largest fleet of commercial supersonic aircraft — as an aerodynamic test platform for the U.S. defense and aerospace community.SECTOR SIGNALThe Test-Capacity Gap Is Now a Procurement PriorityThe thesis is straightforward and increasingly visible across DoD budget documents and procurement actions: U.S. hypersonic weapons, vehicles, and propulsion systems are advancing through development at a pace that is structurally outpacing the test infrastructure required to validate them. The signal is not subtle. NASA recently completed its first major new wind tunnel in more than 40 years. The Air Force, Navy, and Army each carry active budget line items for wind tunnel construction, reactivation, or modernization in fiscal year 2026. A federal sources-sought notice for hypersonic test facility reactivation drew industry responses as recently as March 2026.The implication for the defense industrial base is twofold. First, multi-year ground-based capacity expansion — wind tunnel construction, reactivation, modernization — will be funded through capital programs running 5–10+ years. Second, near-term operational capacity that is available immediately becomes structurally valuable inside that build-out window. Starfighters' April 30 announcement positions FJET squarely in that second category.FIRM PROFILEStarfighters Space, Inc. — Operational Today, Expanding GeographyStarfighters Space describes itself as the only commercial company in the world with the ability to fly payloads at sustained MACH 2+ and the capability to launch those payloads to space. The company operates a fleet of modified supersonic F-104 aircraft from its hangar at the Shuttle Landing Facility at NASA's Kennedy Space Center — one of the longest runways in the world. The company is expanding its operational footprint with a second location at the Midland International Air & Space Port in Texas, where aircraft and engines are already on-site.According to the announcement, the F-104 platform replicates the aerodynamic conditions of the first 30 seconds of a vertical rocket launch — historically among the most difficult phases of flight to test accurately in a static environment. The aircraft expose test articles to turbulent, variable atmospheric conditions representative of actual operational flight, and can carry models closer to production size than most ground-based tunnels permit. Test complexity can be layered simultaneously, including g-forces, humidity, and dynamic pressure variations, in a single flight profile. The result is a test environment narrowing the gap between laboratory simulation and real-world flight.CEO Tim Franta in the announcement: "Every generation has a moment where infrastructure either keeps up with ambition, or it does not. We are in that moment for hypersonic development, and Starfighters Space exists precisely to close that gap. We fly tomorrow."Starfighters' published customer list includes Lockheed Martin, GE, Innoveering, Meggitt, Space Florida, and the U.S. Air Force Research Laboratory.CAPITAL CONTEXTFederal Hypersonic Spending Beneficiaries — Comparable SetInvestors evaluating exposure to the broader federal hypersonic and aerospace test infrastructure spending cycle have a defined U.S.-listed comparable set of established defense primes and tier-one suppliers. Each has reported material newsflow within the past month tied to the same federal capital cycle that supports Starfighters' positioning.Lockheed Martin Corporation (NYSE: LMT)Lockheed Martin is the dominant U.S. defense prime and one of Starfighters' published customers. Lockheed reported Q1 2026 financial results on April 23, 2026, with sales of $18.0 billion and reaffirmed FY2026 guidance of $77.5–$80.0 billion in net sales and $29.35–$30.25 in earnings per share. The company maintains an explicit Hypersonic Solutions business unit and continues to deliver across multiple service-branch hypersonic programs. Hypersonic and missile-defense exposure is one of three explicit transformative-technology pillars in Lockheed's "21st Century Security" framework alongside 5G.MIL Solutions and Spectrum Dominance.Northrop Grumman Corporation (NYSE: NOC)Northrop Grumman reported Q1 2026 results on April 21, 2026, beating consensus on both EPS ($6.14 vs. $6.05 estimate) and revenue ($9.88 billion vs. $9.76 billion estimate). The company secured an award shortly after the close of the quarter to accelerate development of its Glide Phase Interceptor (GPI) program, bringing the total contract value to $1.3 billion. GPI is designed to intercept hypersonic missiles during the glide phase of flight — directly tied to the same federal hypersonic capability buildout that drives demand for aerodynamic test infrastructure. Northrop reaffirmed full-year guidance, citing strong demand across defense and aeronautics segments.L3Harris Technologies, Inc. (NYSE: LHX)L3Harris Technologies has emerged as a key partner across the hypersonic propulsion and electronics ecosystem. In late 2025, Kratos Defense issued a Letter of Intent for 60 full-rate production Zeus motors from L3Harris — a multi-year revenue stream for L3Harris' propulsion division tied directly to hypersonic flight test cadence. L3Harris carries an analyst consensus rating profile reflecting Buy positioning across the majority of covering analysts. The company's position across hypersonic propulsion, secure communications, and sensor integration on test platforms makes it one of the most diversified beneficiaries of the federal hypersonic test infrastructure spending cycle.HEICO Corporation (NYSE: HEI)HEICO is an aerospace and defense supplier with a specialized footprint in legacy aircraft modifications, FAA-approved replacement parts, and life-extension components. The relevance to Starfighters' positioning is structural: modified legacy supersonic platforms — including the F-104 — depend on a specialized supply chain for parts, engine components, and modifications. In April 2026, HEICO announced an acquisition of an 80% interest in Sherwood's defense MRO business, further expanding its defense aerospace aftermarket footprint. HEICO's broader exposure to the defense aerospace aftermarket and component supply chain provides indirect exposure to the operational sustainment requirements of platforms like Starfighters' fleet.TransDigm Group Incorporated (NYSE: TDG)TransDigm operates one of the highest-margin component supply businesses in U.S. defense aerospace, with a portfolio focused on highly engineered, often sole-sourced components used across military and commercial aircraft platforms — including supersonic and tactical aircraft. On April 7, 2026, TransDigm completed its previously announced acquisition of Jet Parts Engineering and Victor Sierra Aviation Holdings for approximately $2.2 billion in cash. The earlier 2026 acquisition of Stellant Systems added advanced microwave and RF capabilities for defense platforms. TransDigm's pricing power and margin profile on long-cycle defense aerospace components has made it a structural beneficiary of multi-year defense capital cycles, with exposure overlapping the operational sustainment of platforms like the F-104 fleet.BOTTOM LINEDirect Play on a Federal Spending Cycle Already UnderwayThe U.S. defense enterprise has signaled, through both budget allocation and procurement activity, that hypersonic test capacity is one of the most consequential infrastructure constraints of the current capability cycle. The federal funding response — a multi-service FY2026 wind tunnel construction, reactivation, and modernization commitment, plus the first new NASA wind tunnel in 40+ years — establishes the spending signal. The procurement response — sources-sought notices and accelerated contract awards — establishes the timing.Starfighters Space's April 30 announcement positions FJET's F-104 fleet directly into that demand window with operational capacity available today rather than capacity dependent on capital build-out. The customer base is established (Lockheed Martin, GE, AFRL among others), the operational footprint is expanding (Kennedy Space Center primary, Midland Texas in motion), and the broader corporate identity — only commercial company in the world with sustained MACH 2+ payload-to-space capability — provides additional optionality across the broader commercial space air-launch architecture.For investors evaluating exposure to the federal hypersonic capability buildout, the comparable set above (LMT, NOC, LHX, HEI, TDG) represents the established prime and supplier beneficiaries. Starfighters Space represents the airborne test platform component — a different angle on the same underlying spending cycle.For more information on Starfighters Space, Inc., visit https://starfightersspace.com/ or the investor profile at usanewsgroup.com/fjet-profile/.CONTACT:
Market IQ Media Group
info @acblanke1DISCLAIMER/DISCLOSURE:Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a digital media distribution and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. This article is being distributed for World Street Intelligence on behalf of Market IQ Media Group Inc. ("MIQ"). Regarding this publication, MIQ has been paid a fee for Starfighters Space, Inc. advertising and digital media from Creative Direct Marketing Group ("CDMG"). There may be 3rd parties who may have shares of Starfighters Space, Inc., and may liquidate their shares which could have a negative effect on the price of the stock. The owner/operator of MIQ also owns shares of Starfighters Space, Inc., that were purchased in the open market and reserves the right to buy and sell, and will buy and sell shares of Starfighters Space, Inc. at any time without any further notice commencing immediately and ongoing. This potential for trading constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this, individuals are strongly encouraged to not use this publication as the basis for any investment decision. Please let this disclaimer serve as notice that all material, including this article, which is disseminated by MIQ has been reviewed and approved by the company directly (Starfighters Space, Inc.), and CDMG.While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.FORWARD-LOOKING STATEMENTS:This publication contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. Forward looking statements in this publication include that demand for U.S. aerodynamic and hypersonic test infrastructure will continue to accelerate; that Starfighters Space, Inc.'s F-104 platform will provide testing capabilities at the cadence and conditions described; that the Company's expansion to Midland, Texas will proceed as planned; that the Company will retain and grow its existing customer base; that comparable companies will perform as expected. The forward-looking information contained herein is provided for the purpose of assisting the reader to understand the Company's business, however such information may not be appropriate for other purposes. Risks that could change or prevent these statements from coming to fruition include changing governmental laws and policies; the Company's ability to obtain and retain necessary licensing; political and competitive risks; failure of forecasts and assumptions to come to fruition; and other unforeseen circumstances. The publisher of this article does not take responsibility for the accuracy of any statements made by the issuing company or its representatives. Readers are cautioned not to place undue reliance on these forward-looking statements, and the publisher undertakes no obligation to update or revise any forward-looking statements except as required by applicable law.



View original content:https://www.prnewswire.com/news-releases/hypersonic-test-capacity-bottleneck-us-defense-enterprise-signals-demand-as-starfighters-space-brings-f-104-fleet-to-market-302759198.htmlSOURCE World Street Intelligence

Original: Hypersonic Test Capacity Bottleneck: U.S. Defense Enterprise Signals Demand as Starfighters Space Brings F-104 Fleet to Market

TransDigm Second Quarter Earnings Report and Conference Call Set for Tuesday, May 5, 2026April 27, 2026 8:00 AM
PR Newswire (US)

CLEVELAND, April 27, 2026 /PRNewswire/ -- TransDigm Group Incorporated (NYSE: TDG) today said it will report fiscal 2026 second quarter earnings before the market opens on Tuesday, May 5, 2026.







A conference call will follow at 11:00 a.m., Eastern Time. To join the call telephonically, please register for the call here. Once registered, participants will receive the dial-in information and a unique pin to access the call. A live audio webcast of the call can also be accessed online at http://www.transdigm.com.The webcast will be archived on the website and available for replay later that day.About TransDigm GroupTransDigm Group, through its wholly-owned subsidiaries, is a leading global designer, producer and supplier of highly engineered aircraft components for use on nearly all commercial and military aircraft in service today. Major product offerings, substantially all of which are ultimately provided to end-users in the aerospace industry, include mechanical/electro-mechanical actuators and controls, ignition systems and engine technology, specialized pumps and valves, power conditioning devices, specialized AC/DC electric motors and generators, batteries and chargers, engineered latching and locking devices, engineered rods, engineered connectors and elastomer sealing solutions, databus and power controls, cockpit security components and systems, specialized and advanced cockpit displays, engineered audio, radio and antenna systems, specialized lavatory components, seat belts and safety restraints, engineered and customized interior surfaces and related components, advanced sensor products, switches and relay panels, thermal protection and insulation, lighting and control technology, parachutes, high performance hoists, winches and lifting devices, cargo loading, handling and delivery systems and specialized flight, wind tunnel and jet engine testing services and equipment, electronic components used in the generation, amplification, transmission and reception of microwave signals, and complex testing and instrumentation solutions.Contact:
Investor Relations

(216) 706-2945

ir@transdigm.com



View original content to download multimedia:https://www.prnewswire.com/news-releases/transdigm-second-quarter-earnings-report-and-conference-call-set-for-tuesday-may-5-2026-302753770.htmlSOURCE TransDigm Group Inc.

Original: TransDigm Second Quarter Earnings Report and Conference Call Set for Tuesday, May 5, 2026

TransDigm Completes Acquisition of Jet Parts Engineering and Victor Sierra Aviation HoldingsApril 7, 2026 9:18 AM
PR Newswire (US)

CLEVELAND, April 7, 2026 /PRNewswire/ -- TransDigm Group Incorporated (NYSE: TDG) today announced that it has successfully completed its acquisition of Jet Parts Engineering and Victor Sierra Aviation Holdings (collectively "the Companies"), formerly portfolio companies of Vance Street Capital, for approximately $2.2 billion in cash, including certain tax benefits. TransDigm financed the acquisition of the Companies through cash on hand as well as cash proceeds from the debt offerings completed in February 2026. The acquisition of the Companies was previously announced on January 16, 2026.
Jet Parts EngineeringJet Parts Engineering ("JPE"), headquartered in Seattle, Washington, is a leading independent designer and manufacturer of aerospace aftermarket solutions, primarily proprietary OEM-alternative parts and repairs. JPE serves commercial, regional and cargo airline customers, as well as maintenance, repair and overhaul ("MRO") providers. JPE's products are highly engineered, proprietary PMA components with a strong presence across major commercial aerospace platforms. Nearly all of JPE's revenue is derived from the commercial aftermarket. In addition to its engineering headquarters in Seattle, Washington, JPE has engineering and component repair locations in Texas, New York, Florida, Alabama and the United Kingdom. JPE employs approximately 300 people.Victor Sierra AviationVictor Sierra Aviation Holdings ("VSA") is a leading designer, manufacturer, and distributor of proprietary PMA and other aftermarket parts serving the commercial aerospace end market – primarily the general aviation and business aviation sectors. VSA is a leading collection of brands including McFarlane Aviation, Tempest Aero Group, and Aviation Products Systems. VSA offers a complete line of highly engineered PMA, custom design and OEM products, as well as service and repair stations. Nearly all of VSA's revenue is derived from the commercial aftermarket. VSA primarily operates out of three facilities: Baldwin City, Kansas; Burlington, North Carolina; and Granite City, Illinois. Additional satellite facilities are in Illinois, Texas, Kentucky and Washington to provide support and strategic proximity to customers. VSA employs approximately 400 people.The Companies collectively generated approximately $280 million in revenue for the calendar year ended December 31, 2025. About TransDigm GroupTransDigm Group, through its wholly-owned subsidiaries, is a leading global designer, producer and supplier of highly engineered aircraft components for use on nearly all commercial and military aircraft in service today. Major product offerings, substantially all of which are ultimately provided to end-users in the aerospace industry, include mechanical/electro-mechanical actuators and controls, ignition systems and engine technology, specialized pumps and valves, power conditioning devices, specialized AC/DC electric motors and generators, batteries and chargers, engineered latching and locking devices, engineered rods, engineered connectors and elastomer sealing solutions, databus and power controls, cockpit security components and systems, specialized and advanced cockpit displays, engineered audio, radio and antenna systems, specialized lavatory components, seat belts and safety restraints, engineered and customized interior surfaces and related components, advanced sensor products, switches and relay panels, thermal protection and insulation, lighting and control technology, parachutes, high performance hoists, winches and lifting devices, and cargo loading, handling and delivery systems, specialized flight, wind tunnel and jet engine testing services and equipment, electronic components used in the generation, amplification, transmission and reception of microwave signals, and complex testing and instrumentation solutions.Forward-Looking StatementsAll forward-looking statements involve risks and uncertainties that could cause TransDigm Group's actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, TransDigm Group. These risks and uncertainties include but are not limited to: the sensitivity of our business to the number of flight hours that our customers' planes spend aloft and our customers' profitability, both of which are affected by general economic conditions; supply chain constraints; increases in raw material costs, taxes and labor costs that cannot be recovered in product pricing; failure to complete or successfully integrate acquisitions; our indebtedness; current and future geopolitical or other worldwide events, including, without limitation, wars or conflicts and public health crises; cybersecurity threats; risks related to the transition or physical impacts of climate change and other natural disasters or meeting regulatory requirements; our reliance on certain customers; the United States ("U.S.") defense budget and risks associated with being a government supplier including government audits and investigations; failure to maintain government or industry approvals; risks related to changes in laws and regulations, including increases in compliance costs and potential changes in trade policies and tariffs; potential environmental liabilities; liabilities arising in connection with litigation; risks and costs associated with our international sales and operations; and other factors. Further information regarding the important factors that could cause actual results to differ materially from projected results can be found in TransDigm Group's most recent Annual Report on Form 10-K and other reports that TransDigm Group or its subsidiaries have filed with the Securities and Exchange Commission. Except as required by law, TransDigm Group undertakes no obligation to revise or update the forward-looking statements contained in this press release.Contact:  
Investor Relations 
(216) 706-2945 
ir@transdigm.com Logo - https://mma.prnewswire.com/media/835315/5902578/TransDigm_Logo.jpg



View original content:https://www.prnewswire.co.uk/news-releases/transdigm-completes-acquisition-of-jet-parts-engineering-and-victor-sierra-aviation-holdings-302735818.html

Original: TransDigm Completes Acquisition of Jet Parts Engineering and Victor Sierra Aviation Holdings

U.S. Defense Manufacturers Face A Rare Earth Supply Squeeze - OilPrice.com Market CommentaryMarch 6, 2026 9:20 AM
PR Newswire (US)

NEW YORK, March 6, 2026 /PRNewswire/ -- According to sources, the Pentagon will prohibit the use of rare earth magnet materials originating from China in U.S. military platforms beginning in 2027. This mandate will have broad implications across the American defense industrial base, requiring manufacturers to verify the origin of the rare earth metals used in their systems, tracing them back to the earliest stages of the processing chain. Companies mentioned in this release include: REalloys Inc. (ALOY), Olin Corporation (NYSE: OLN), The Metals Company (NASDAQ: TMC), Huntington Ingalls Industries (NYSE: HII), BWX Technologies (NYSE: BWXT), TransDigm Group (NYSE: TDG).Defense giants like Lockheed Martin are overhauling their magnet supply chains to avoid non-compliance in 2027, warning that rare earth sourcing restrictions require traceability down to the mining level across multi-tier supplier networks. Northrop Grumman has issued supplier notices reinforcing magnet-origin requirements and pushing those obligations through its supply chain.Now, these aerospace and defense behemoths are qualifying compliant suppliers in a market where rare earth processing capacity has been controlled almost exclusively by China for decades.In Euclid, Ohio, that's all changing. Here, REalloys (ALOY) has achieved a North American first: industrial production of magnet-grade heavy rare earth metals for defense applications.Where Defense Giants Will Get Their Magnet-Grade MetalsMountain Pass produces a rare earth concentrate that is separated in California into NdPr oxide. That is a meaningful step in rebuilding domestic capability. But oxide is not the material defense contractors use.Oxide must be chemically reduced into pure rare earth metal. That metal must then be blended into specific magnet-grade alloys before it can move into permanent magnet production.For decades, that conversion from oxide to metal has taken place almost entirely in China. Even when ore was mined in the United States, and oxide was separated domestically, the metallurgical step that turns chemistry into usable industrial metal occurred overseas.REalloys owns the Hoidas Lake rare earth project in Saskatchewan, anchoring primary resource exposure inside Canada. In Greenland, it has signed a long-term non-binding letter of intent covering approximately 15% of future production from the Tanbreez rare earth project–one of the largest heavy and medium rare earth deposits outside China.In Kazakhstan, non-binding agreements with AltynGroup hope to provide access to material from the Kokbulak project and surrounding concessions. In Brazil, an alliance tied to the Araxá project adds another potential non-Chinese intake stream. Those primary sources are complemented by recycled permanent magnet material and industrial scrap recovered for reprocessing.All of that feed — mined concentrate and recycled rare earth content — is directed into North American separation and then into metallization at the Euclid facility. Euclid is operating at an industrial scale at the hardest step in the rare earth supply chain."Metallization is the least developed part of the value chain outside China. It requires deep, accumulated operating expertise and process control systems capable of managing complex variables in continuous production. Even with capital and strong execution, replicating that capability typically takes three to seven years or more — with meaningful technical and qualification risk," says REalloys co-founder Tim Johnston. "We've already solved the hardest part — proving that rare earth metallization and alloying can be done domestically to the specifications real customers require."REalloys (ALOY) closes the full mine-to-magnet loop, and just as the doors are about to close on Chinese-origin defense materials.The National Security DeadlineIndustrial capacity is now rising to meet a fixed national security deadline. SRC and REAlloys are targeting roughly 400 tonnes of rare earth metal output annually by the end of 2027, rising toward approximately 600 tonnes as Phase 1 scales. That's the same compliance horizon facing U.S. defense contractors.The appointment of retired General Jack Keane to the board enhances the strategic elevation of rare earth metallization. Keane served as Vice Chief of Staff of the U.S. Army and operated at the highest levels of force readiness and procurement oversight. His presence reflects a clear reality: oxide-to-metal conversion is no longer an industrial niche — it is a defense planning variable.Federal capital is following the same logic. The Export-Import Bank has issued a letter of interest for up to $200 million tied to a rare earth processing buildout connected to this platform. The Defense Production Act provides additional authority to accelerate domestic midstream capacity.This is no longer a commodity story. It is a capital-backed, deadline-driven restructuring of the defense supply chain, and the companies positioned at the metallurgical layer will determine how smoothly that transition unfolds.Those elements enter defense production at only one point in the industrial chain: after rare earth oxides are reduced into high-purity metal and alloyed into magnet-grade alloys. That conversion step determines whether a weapon system can be produced and deployed on time with predictable performance. That's what REalloys, in partnership with the SRC, is doing in Euclid, Ohio.If the West fails to rebuild this layer at scale inside North America and allied jurisdictions, the United States would be operating a forward-deployed military force that still depends on China for its fundamental material inputs.Production schedules for missiles, aircraft, and naval systems don't shift on a dime. They follow certification, qualification, and metallurgical traceability requirements that take years to establish.The Buildout Before the BanThe first chapter restored a capability that had left the continent. The next chapter finances and scales it. REalloys has already proved that North America doesn't need China to convert rare earth oxides into valuable metals. Now it's scaling it all up, with Euclid as the anchor of a broader processing platform that expands upstream into secured feedstock and downstream into magnet production.The difference between a facility and a platform is measured in throughput. Phase 1 is operational. Euclid is producing rare earth metals today. The current ramp targets roughly 400 tonnes per year of total rare earth metal output by the end of 2027, rising toward approximately 600 tonnes annually as throughput stabilizes. That includes prized dysprosium and terbium — the heavy rare earths that determine high-temperature magnet performance — alongside NdPr metal for permanent magnet strength.In a market where heavy rare earth supply outside China remains measured in the low thousands of tonnes globally, those volumes establish one of the few scaled heavy rare earth metal production points in North America.Engineering, site development, and plant construction move through 2026 and 2027 with a defined objective: capture more of the margin stack inside allied jurisdiction.Capital is now committed to the buildout. The Export-Import Bank's letter of interest for up to $200 million ties sovereign credit capacity to rare earth processing expansion connected to this platform. Defense Production Act authorities add additional channels for capital participation as capacity scales. Capital structure and industrial policy are moving in the same direction.Plant expansions, financing closings, engineering milestones, and rising tonnage will define the next chapter. REalloys is entering the scale phase.Here are a number of defense companies to watch closely over the coming months:Olin Corporation (OLN) serves as the 'indispensable utility' for the entire Western critical minerals and rare earth processing industry. As the world's leading producer of chlor-alkali products, Olin provides the massive volumes of hydrochloric acid and caustic soda required to separate rare earth elements and purify lithium brine. In early 2026, Olin intensified its 'Beyond250' structural cost-reduction program, targeting over $120 million in annual savings to maintain its competitive edge as the primary chemical supplier to the 'Battery Belt' refineries currently coming online across North America.While Olin faces the typical headwinds of a cyclical commodity market, its 2026 strategy has pivoted toward long-term, high-margin supply agreements with domestic mineral processors who require "just-in-time" chemical logistics.The Metals Company (TMC) is the global leader in deep-sea mineral exploration, targeting polymetallic nodules on the seafloor of the Clarion-Clipperton Zone in the Pacific Ocean. In January 2026, TMC took a massive step toward commercialization by filing the first-ever consolidated deep-seabed mining application, which would grant them a permit area covering 65,000 $km^2$.The company's NORI-D project is estimated to contain enough Nickel, Cobalt, Copper, and Manganese to meet the requirements of 280 million electric vehicles, roughly the size of the entire U.S. light vehicle fleet.Huntington Ingalls Industries (HII) is the largest military shipbuilder in the United States and a cornerstone of the U.S. Navy's fleet modernization strategy. The company builds nuclear-powered aircraft carriers, amphibious assault ships, destroyers, and provides lifecycle support services for the Navy's most complex platforms. These are multi-decade programs with enormous barriers to entry and limited competition.Recent contract awards tied to aircraft carrier construction and amphibious ship programs have reinforced HII's long-term backlog strength. At the same time, shipyard modernization investments aim to increase production efficiency and meet growing naval demand. As global maritime tensions rise — particularly in the Indo-Pacific and Middle East — naval force projection and fleet expansion have regained strategic urgency.BWX Technologies ( BWXT) occupies a highly specialized niche within the U.S. defense sector, focusing on nuclear components and fuel systems for naval propulsion. The company manufactures reactor cores and related components used in U.S. Navy submarines and aircraft carriers, placing it at the heart of America's nuclear-powered fleet.Its work directly supports the Navy's Virginia-class and Columbia-class submarine programs — pillars of U.S. strategic deterrence. These long-cycle programs provide decades of revenue visibility, as nuclear propulsion systems require precision engineering and regulatory oversight that few companies globally can deliver.TransDigm Group (TDG) is a leading supplier of highly engineered aerospace components used across both military and commercial aircraft platforms. Unlike prime contractors, TransDigm focuses on proprietary components such as actuators, valves, pumps, and control systems — often niche parts with limited competition and strong pricing power.The company's business model emphasizes aftermarket revenue, where margins are significantly higher than original equipment sales. As military fleets age and require ongoing maintenance, sustainment demand remains steady. At the same time, commercial aviation recovery continues to support aftermarket volumes.TransDigm's exposure to both defense modernization and long-term fleet sustainment creates a resilient revenue profile. Its components are embedded in legacy aircraft as well as next-generation platforms, ensuring recurring demand throughout multi-decade aircraft lifecycles.By. Michael KernOilprice Intelligence brings you the inside view on where the next gains will come from, breaking down the market's biggest growth driver with analysis from veteran oilmen and experts. Click here to get this crucial intel for freeImportant Disclosure: The owner of Oilprice.com owns shares and/or stock options of the company and therefore has an incentive to see the company's stock perform well. We encourage you to conduct your own due diligence and seek the advice of your financial advisor or broker before investing.FORWARD LOOKING STATEMENTS
This publication contains forward-looking statements, including statements regarding expected continual growth of the featured companies and/or industry. The Publisher notes that statements contained herein that look forward in time, which include everything other than historical information, involve risks and uncertainties that may affect the companies' actual results of operations. Factors that could cause actual results to differ include, but are not limited to, changing governmental laws and policies concerning, among other things, recreational and medical cannabis sales, success of the company's proprietary technology, the size and growth of the market for the company's products and services, the company's ability to fund its capital requirements in the near term and long term, pricing pressures, etc. IMPORTANT NOTICE AND DISCLAIMER
Neither the author nor the publisher, Oilprice.com, was paid to publish this communication concerning REalloys (ALOY). The owner of Oilprice.com owns shares and/or stock options of the featured company and therefore has an incentive to see the featured company's stock perform well. The owner of Oilprice.com may buy or sell shares of the featured company at any time including at or near the time you receive this communication. This share ownership should be viewed as a major conflict with our ability to be unbiased. This is why we stress that you conduct extensive due diligence as well as seek the advice of your financial advisor or a registered broker-dealer before investing in any securities.This communication is not, and should not be construed to be, an offer to sell or a solicitation of an offer to buy any security. Neither this communication nor the Publisher purport to provide a complete analysis of any company or its financial position. The Publisher is not, and does not purport to be, a broker-dealer or registered investment adviser. This communication is not, and should not be construed to be, personalized investment advice directed to or appropriate for any particular investor. Any investment should be made only after consulting a professional investment advisor and only after reviewing the financial statements and other pertinent corporate information about the company. Further, readers are advised to read and carefully consider the Risk Factors identified and discussed in the advertised company's SEC, SEDAR and/or other government filings. Investing in securities is speculative and carries a high degree of risk. Past performance does not guarantee future results. This communication is based on information generally available to the public and does not contain any material, non-public information. The information on which it is based is believed to be reliable. Nevertheless, the Publisher cannot guarantee the accuracy or completeness of the information.INDEMNIFICATION/RELEASE OF LIABILITY
By reading this communication, you acknowledge that you have read and understand this disclaimer, and further that to the greatest extent permitted under law, you release the Publisher, its affiliates, assigns and successors from any and all liability, damages, and injury from this communication. You further warrant that you are solely responsible for any financial outcome that may come from your investment decisions.TERMS OF USE
By reading this communication you agree that you have reviewed and fully agree to the Terms of Use found here http://oilprice.com/terms-and-conditions If you do not agree to the Terms of Use http://oilprice.com/terms-and-conditions, please contact Oilprice.com to discontinue receiving future communications.INTELLECTUAL PROPERTY
Oilprice.com is the Publisher's trademark. All other trademarks used in this communication are the property of their respective trademark holders. The Publisher is not affiliated, connected, or associated with, and is not sponsored, approved, or originated by, the trademark holders unless otherwise stated. No claim is made by the Publisher to any rights in any third-party trademarks.OilPrice.com
+44 203 239 4080
info@oilprice.com 



View original content:https://www.prnewswire.com/news-releases/us-defense-manufacturers-face-a-rare-earth-supply-squeeze---oilpricecom-market-commentary-302706697.htmlSOURCE OilPrice.com

Original: U.S. Defense Manufacturers Face A Rare Earth Supply Squeeze - OilPrice.com Market Commentary

TransDigm shares slip even as Q1 earnings beat and outlook improvesFebruary 3, 2026 11:16 AM
IH Market News
TransDigm Group (NYSE:TDG) reported first-quarter results on Tuesday that came in ahead of analyst expectations and prompted the company to lift its full-year guidance, although the stock edged lower in pre-market trading.Shares of the aircraft components maker fell 1.12% after the release, despite solid top- and bottom-line performance.For the quarter ended December 27, 2025, TransDigm posted adjusted earnings per share of $8.23, topping the consensus forecast of $8.09. Revenue rose 13.9% year over year to $2.28 billion, slightly ahead of estimates of $2.26 billion, while organic sales increased 7.4%.“We are pleased with our team’s performance and operating results for the first quarter. This is a solid start to the 2026 fiscal year,” said Mike Lisman, TransDigm Group’s CEO. “Total revenue ran ahead of our expectations. Additionally, bookings were strong in all three of our major market channels.”EBITDA As Defined climbed 12.8% to $1.2 billion, translating into a margin of 52.4%, compared with 52.9% in the prior-year period. The company noted that recently completed acquisitions reduced margins by around 2.0%.Looking ahead, TransDigm raised its fiscal 2026 outlook, now forecasting revenue in the range of $9.85 billion to $10.04 billion, compared with its earlier projection of $9.75 billion to $9.95 billion. Adjusted earnings per share guidance was also increased to $37.42 to $39.34, up from the previous range of $36.49 to $38.53.The revised guidance reflects broad-based strength across all end markets, with commercial OEM revenue expected to deliver the fastest growth as aircraft manufacturers ramp up production. Commercial aftermarket and defense revenues both recorded high single-digit growth during the quarter.TransDigm also pointed to continued acquisition-driven expansion, highlighting the completed purchase of Simmonds Precision Products and pending deals for Stellant Systems, Jet Parts Engineering, and Victor Sierra Aviation Holdings, representing roughly $3.2 billion in total capital deployment.TransDigm Group stock price

Original: TransDigm shares slip even as Q1 earnings beat and outlook improves

TransDigm Group Reports Fiscal 2026 First Quarter ResultsFebruary 3, 2026 7:15 AM
PR Newswire (US)

CLEVELAND, Feb. 3, 2026 /PRNewswire/ -- TransDigm Group Incorporated (NYSE: TDG), a leading global designer, producer and supplier of highly engineered aircraft components, today reported results for the first quarter ended December 27, 2025.







First quarter highlights include:Net sales of $2,285 million, up 14% from $2,006 million in the prior year's quarter;Net income of $445 million;Earnings per share of $6.62;EBITDA As Defined of $1,197 million, up 13% from $1,061 million in the prior year's quarter;EBITDA As Defined margin of 52.4%Adjusted earnings per share of $8.23, up 5% from $7.83 in the prior year's quarter; andUpward revision to fiscal 2026 financial guidance.Quarter-to-Date ResultsNet sales for the quarter increased 13.9%, or $279 million, to $2,285 million from $2,006 million in the comparable quarter a year ago. Organic sales growth as a percentage of net sales was 7.4%.Net income for the quarter was $445 million, a decrease of $48 million, or 9.7%, compared to $493 million in the comparable quarter a year ago. The decrease in net income primarily reflects higher interest expense as a result of the increase in TransDigm's year-over-year gross debt balance. The decrease was partially offset by the increase in net sales described above and the application of our value-driven operating strategy.GAAP earnings per share were reduced in the first quarter of fiscal 2026 and 2025 by $1.02 per share and $0.83 per share, respectively, as a result of dividend equivalent payments made during each quarter. As a reminder, GAAP earnings per share are reduced when TransDigm makes dividend equivalent payments pursuant to its stock option plans. These dividend equivalent payments are made during TransDigm's first fiscal quarter each year and also upon payment of any special dividends.Adjusted net income for the quarter increased 5.0% to $479 million, or $8.23 per share, from $456 million, or $7.83 per share, in the comparable quarter a year ago.EBITDA for the quarter increased 5.5% to $1,147 million from $1,087 million for the comparable quarter a year ago. EBITDA As Defined for the quarter increased 12.8% to $1,197 million compared with $1,061 million in the comparable quarter a year ago. EBITDA As Defined as a percentage of net sales for the quarter was 52.4% compared with 52.9% in the comparable quarter a year ago."We are pleased with our team's performance and operating results for the first quarter. This is a solid start to the 2026 fiscal year," stated Mike Lisman, TransDigm Group's CEO. "Total revenue ran ahead of our expectations. Additionally, bookings were strong in all three of our major market channels. In the first quarter, our commercial OEM market revenue increased in the double digits on a percentage basis as we supported higher build rates at the OEMs. Further, both our commercial aftermarket and defense markets performed well, with each of these markets growing in the high single digits. Our reported EBITDA As Defined margin for the quarter was 52.4%. This margin includes a dilutive impact from our recent acquisitions of roughly 2.0%. Adjusting for acquisition dilution, the EBITDA margins of our base businesses improved nicely year over year. This solid margin performance was a result of the team's continued execution on our value drivers. Additionally, subsequent to quarter end, we announced two acquisitions, which when closed will bring three new operating units into TransDigm. We are excited to have agreements to acquire Stellant, Jet Parts Engineering, and Victor Sierra. In the aggregate, approximately $3.2 billion of capital is expected to be deployed for these acquisitions. These are good, growing businesses with proprietary products that generate significant aftermarket revenue and fit well within TransDigm. As we look ahead to the remainder of fiscal 2026, we have significant liquidity and financial flexibility to address any likely range of capital requirements and remain highly focused on our capital allocation.As always, we remain committed to our operating strategy and the TransDigm value drivers. We look forward to the opportunity to continue creating value for our shareholders throughout the remainder of fiscal 2026."Acquisition ActivityAs previously announced on October 6, 2025, TransDigm completed the acquisition of Simmonds Precision Products from RTX Corporation. Simmonds Precision Products is a leading global designer and manufacturer of fuel & proximity sensing and structural health monitoring solutions for the aerospace and defense end markets.Subsequent to the quarter, and as previously announced on December 31, 2025, TransDigm has entered into a definitive agreement to acquire Stellant Systems, Inc. ("Stellant") from Arlington Capital Partners for approximately $960 million in cash. Stellant is a leading global designer and manufacturer of high-power electronic components and subsystems serving the aerospace and defense end market.Additionally subsequent to the quarter, and as previously announced on January 16, 2026, TransDigm has entered into a definitive agreement to acquire Jet Parts Engineering ("JPE") and Victor Sierra Aviation Holdings ("VSA") from Vance Street Capital for approximately $2.2 billion in cash. JPE is a leading independent designer and manufacturer of aerospace aftermarket solutions, primarily proprietary OEM-alternative parts and repairs. VSA is a leading designer, manufacturer, and distributor of proprietary PMA and other aftermarket parts serving the commercial aerospace end market – primarily the general aviation and business aviation sectors.Share Repurchase Activity During the thirteen week period ended December 27, 2025, TransDigm repurchased approximately 85 thousand shares of its common stock at an average price per share of $1,250 for a total amount of approximately $0.1 billion.Please see the attached tables for a reconciliation of net income to EBITDA, EBITDA As Defined, and adjusted net income; a reconciliation of net cash provided by operating activities to EBITDA and EBITDA As Defined; and a reconciliation of earnings per share to adjusted earnings per share for the periods discussed in this press release.Fiscal 2026 OutlookMr. Lisman stated, "We are raising our full year fiscal 2026 financial guidance primarily to reflect our first quarter performance and current expectations for the remainder of the fiscal year. As we look across the balance of fiscal 2026, overall trends remain favorable for our primary end markets - commercial OEM, commercial aftermarket and defense. We continue to expect the commercial OEM market to see the highest rate of growth in fiscal 2026 as we support increasing build rates at the OEMs." This guidance excludes any contribution from the pending acquisitions of Stellant and JPE and VSA.TransDigm now expects fiscal 2026 financial guidance to be as follows:Net sales are anticipated to be in the range of $9,845 million to $10,035 million compared with $8,831 million in fiscal 2025, an increase of 12.6% at the midpoint (an increase of $90 million at the midpoint from prior guidance);Net income is anticipated to be in the range of $1,952 million to $2,064 million compared with $2,074 million in fiscal 2025, a decrease of 3.2% at the midpoint primarily due to additional interest expense relating to the financing activities completed during the fourth quarter of fiscal 2025 (an increase of $42 million at the midpoint from prior guidance);Earnings per share is expected to be in the range of $32.47 to $34.39 per share based upon weighted average shares outstanding of 58.3 million shares, compared with $32.08 per share in fiscal 2025, which is an increase of 4.2% at the midpoint (an increase of $0.86 per share at the midpoint from prior guidance);EBITDA As Defined is anticipated to be in the range of $5,140 million to $5,280 million compared with $4,760 million in fiscal 2025, an increase of 9.5% at the midpoint (an increase of $60 million at the midpoint from prior guidance and corresponding to an EBITDA As Defined margin guide of approximately 52.4% for fiscal 2026);Adjusted earnings per share is expected to be in the range of $37.42 to $39.34 per share compared with $37.33 per share in fiscal 2025, an increase of 2.8% at the midpoint compared to prior year (an increase of $0.87 per share at the midpoint from prior guidance); andFiscal 2026 outlook is based on the following market growth assumptions:Commercial OEM revenue growth in the high single-digit to mid-teens percentage range;Commercial aftermarket revenue growth in the high single-digit percentage range; andDefense revenue growth in the mid single-digit to high single-digit percentage range.Please see the attached Table 6 for a reconciliation of EBITDA, EBITDA As Defined to net income and reported earnings per share to adjusted earnings per share guidance midpoint estimated for the fiscal year ending September 30, 2026. Additionally, please see attached Table 7 for comparison of the current fiscal year 2026 guidance versus the previously issued fiscal year 2026 guidance.Earnings Conference CallTransDigm Group will host a conference call for investors and security analysts on February 3, 2026, beginning at 11:00 a.m., Eastern Time. To join the call telephonically, please register for the call at https://register-conf.media-server.com/register/BIfa66f67b57da497c8e296ec22021d598. Once registered, participants will receive the dial-in information and a unique pin to access the call. The dial-in information and unique pin will be sent to the email used to register for the call. The unique pin is exclusive to the registrant and can only be used by one person at a time. A live audio webcast of the call can also be accessed online at https://www.transdigm.com. A slide presentation will also be available for reference during the conference call; go to the investor relations page of our website and click on "Presentations."The call will be archived on the website and available for replay at approximately 2:00 p.m., Eastern Time.About TransDigm GroupTransDigm Group, through its wholly-owned subsidiaries, is a leading global designer, producer and supplier of highly engineered aircraft components for use on nearly all commercial and military aircraft in service today. Major product offerings, substantially all of which are ultimately provided to end-users in the aerospace industry, include mechanical/electro-mechanical actuators and controls, ignition systems and engine technology, specialized pumps and valves, power conditioning devices, specialized AC/DC electric motors and generators, batteries and chargers, engineered latching and locking devices, engineered rods, engineered connectors and elastomer sealing solutions, databus and power controls, cockpit security components and systems, specialized and advanced cockpit displays, engineered audio, radio and antenna systems, specialized lavatory components, seat belts and safety restraints, engineered and customized interior surfaces and related components, advanced sensor products, switches and relay panels, thermal protection and insulation, lighting and control technology, parachutes, high performance hoists, winches and lifting devices, and cargo loading, handling and delivery systems, specialized flight, wind tunnel and jet engine testing services and equipment, electronic components used in the generation, amplification, transmission and reception of microwave signals, and complex testing and instrumentation solutions.Non-GAAP Supplemental InformationEBITDA, EBITDA As Defined, EBITDA As Defined margin, adjusted net income and adjusted earnings per share are non-GAAP financial measures presented in this press release as supplemental disclosures to net income and reported results. TransDigm Group defines EBITDA as earnings before interest, taxes, depreciation and amortization and defines EBITDA As Defined as EBITDA plus certain non-operating items recorded as corporate expenses, including non-cash compensation charges incurred in connection with TransDigm Group's stock option or deferred compensation plans, foreign currency gains and losses, acquisition-integration costs, acquisition transaction-related expenses, and refinancing costs. Acquisition transaction and integration-related expenses represent costs incurred to integrate acquired businesses into our operations; facility relocation costs and other acquisition-related costs; transaction and valuation-related costs for acquisitions comprising deal fees, legal, financial and tax due diligence expenses; and amortization expense of inventory step-up recorded in connection with the purchase accounting of acquired businesses. TransDigm Group defines adjusted net income as net income plus purchase accounting backlog amortization expense, effects from the sale on businesses, non-cash compensation charges incurred in connection with TransDigm Group's stock option or deferred compensation plans, foreign currency gains and losses, acquisition-integration costs, acquisition transaction-related expenses, and refinancing costs. EBITDA As Defined margin represents EBITDA As Defined as a percentage of net sales. TransDigm Group defines adjusted diluted earnings per share as adjusted net income divided by the total outstanding shares for basic and diluted earnings per share. For more information regarding the computation of EBITDA, EBITDA As Defined, adjusted net income and adjusted earnings per share, please see the attached financial tables.TransDigm Group presents these non-GAAP financial measures because it believes that they are useful indicators of its operating performance. TransDigm Group believes that EBITDA is useful to investors because it is frequently used by securities analysts, investors and other interested parties to measure operating performance among companies with different capital structures, effective tax rates and tax attributes, capitalized asset values and employee compensation structures, all of which can vary substantially from company to company. In addition, analysts, rating agencies and others use EBITDA to evaluate a company's ability to incur and service debt. EBITDA As Defined is used to measure TransDigm Inc.'s compliance with the financial covenant contained in its credit facility. TransDigm Group's management also uses EBITDA As Defined to review and assess its operating performance, to prepare its annual budget and financial projections and to review and evaluate its management team in connection with employee incentive programs. Moreover, TransDigm Group's management uses EBITDA As Defined to evaluate acquisitions and as a liquidity measure. In addition, TransDigm Group's management uses adjusted net income as a measure of comparable operating performance between time periods and among companies as it is reflective of changes in pricing decisions, cost controls and other factors that affect operating performance.None of EBITDA, EBITDA As Defined, EBITDA As Defined margin, adjusted net income or adjusted earnings per share is a measurement of financial performance under U.S. GAAP and such financial measures should not be considered as an alternative to net income, operating income, earnings per share, cash flows from operating activities or other measures of performance determined in accordance with U.S. GAAP. In addition, TransDigm Group's calculation of these non-GAAP financial measures may not be comparable to the calculation of similarly titled measures reported by other companies.Although we use EBITDA and EBITDA As Defined as measures to assess the performance of our business and for the other purposes set forth above, the use of these non-GAAP financial measures as analytical tools has limitations, and you should not consider any of them in isolation, or as a substitute for analysis of our results of operations as reported in accordance with U.S. GAAP. Some of these limitations are:neither EBITDA nor EBITDA As Defined reflects the significant interest expense, or the cash requirements, necessary to service interest payments on our indebtedness;although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future, and neither EBITDA nor EBITDA As Defined reflects any cash requirements for such replacements;the omission of the substantial amortization expense associated with our intangible assets further limits the usefulness of EBITDA and EBITDA As Defined;neither EBITDA nor EBITDA As Defined includes the payment of taxes, which is a necessary element of our operations; andEBITDA As Defined excludes the cash expense we have incurred to integrate acquired businesses into our operations, which is a necessary element of certain of our acquisitions.Forward-Looking StatementsStatements in this press release that are not historical facts, including statements under the heading "Fiscal 2026 Outlook," are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "believe," "may," "will," "should," "expect," "intend," "plan," "predict," "anticipate," "estimate," or "continue" and other words and terms of similar meaning may identify forward-looking statements.All forward-looking statements involve risks and uncertainties that could cause TransDigm Group's actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, TransDigm Group. These risks and uncertainties include but are not limited to: the sensitivity of our business to the number of flight hours that our customers' planes spend aloft and our customers' profitability, both of which are affected by general economic conditions; supply chain constraints; increases in raw material costs, taxes and labor costs that cannot be recovered in product pricing; failure to complete or successfully integrate acquisitions; our indebtedness; current and future geopolitical or other worldwide events, including, without limitation, wars or conflicts and public health crises; cybersecurity threats; risks related to the transition or physical impacts of climate change and other natural disasters or meeting regulatory requirements; our reliance on certain customers; the United States ("U.S.") defense budget and risks associated with being a government supplier including government audits and investigations; failure to maintain government or industry approvals; risks related to changes in laws and regulations, including increases in compliance costs and potential changes in trade policies and tariffs; potential environmental liabilities; liabilities arising in connection with litigation; risks and costs associated with our international sales and operations; and other factors. Further information regarding the important factors that could cause actual results to differ materially from projected results can be found in TransDigm Group's most recent Annual Report on Form 10-K and other reports that TransDigm Group or its subsidiaries have filed with the Securities and Exchange Commission. Except as required by law, TransDigm Group undertakes no obligation to revise or update the forward-looking statements contained in this press release.Contact:
Investor Relations

216-706-2945

ir@transdigm.com 


 TRANSDIGM GROUP INCORPORATED

CONSOLIDATED STATEMENTS OF INCOME

FOR THE THIRTEEN WEEK PERIODS ENDED
Table 1DECEMBER 27, 2025 AND DECEMBER 28, 2024
(Amounts in millions, except per share amounts)

(Unaudited)





Thirteen Week Periods Ended

December 27, 2025
December 28, 2024NET SALES
$             2,285
$             2,006COST OF SALES
933
771GROSS PROFIT
1,352
1,235SELLING AND ADMINISTRATIVE EXPENSES
254
211AMORTIZATION OF INTANGIBLE ASSETS
56
50INCOME FROM OPERATIONS
1,042
974INTEREST EXPENSE—NET
475
378OTHER INCOME
(5)
(23)INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
572
619INCOME TAX PROVISION
127
126NET INCOME
445
493LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS
—
—NET INCOME ATTRIBUTABLE TO TD GROUP
$                445
$                493NET INCOME APPLICABLE TO TD GROUP COMMON STOCKHOLDERS
$                386
$                444




Earnings per share attributable to TD Group common stockholders:



Earnings per share—Basic and diluted
$               6.62
$               7.62




Weighted-average shares outstanding:



Basic and diluted
58.2
58.3 TRANSDIGM GROUP INCORPORATED

SUPPLEMENTAL INFORMATION - RECONCILIATION OF

EBITDA, EBITDA AS DEFINED TO NET INCOME

FOR THE THIRTEEN WEEK PERIODS ENDED
Table 2DECEMBER 27, 2025 AND DECEMBER 28, 2024
(Amounts in millions, except per share amounts)

(Unaudited)





Thirteen Week Periods Ended

December 27, 2025
December 28, 2024Net Income
$             445
$             493Adjustments:



Depreciation and amortization expense
100
90Interest expense-net
475
378Income tax provision
127
126EBITDA
1,147
1,087Adjustments:



Acquisition transaction and integration-related expenses (1)
12
13Non-cash stock and deferred compensation expense (2)
27
25Other, net (3)
11
(64)Gross Adjustments to EBITDA
50
(26)EBITDA As Defined
$          1,197
$          1,061EBITDA As Defined Margin (4)
52.4 %
52.9 %













(1)
Represents costs incurred to integrate acquired businesses into our operations; facility relocation costs and other acquisition-related costs; transaction and valuation-related costs for acquisitions comprising deal fees, legal, financial and tax due diligence expenses; and amortization expense of inventory step-up recorded in connection with the purchase accounting of acquired businesses.


(2)
Represents the compensation expense recognized under our stock option plans and deferred compensation plans.


(3)
Primarily represents foreign currency transaction gains or losses, payroll withholding taxes related to dividend equivalent payments and stock option exercises, non-service related pension costs, deferred compensation payments and other miscellaneous income or expense, such as gain on sale of business.


(4)
The EBITDA As Defined Margin represents the amount of EBITDA As Defined as a percentage of net sales. TRANSDIGM GROUP INCORPORATED

SUPPLEMENTAL INFORMATION - RECONCILIATION OF REPORTED

EARNINGS PER SHARE TO ADJUSTED EARNINGS PER SHARE

FOR THE THIRTEEN WEEK PERIODS ENDED
Table 3DECEMBER 27, 2025 AND DECEMBER 28, 2024
(Amounts in millions, except per share amounts)

(Unaudited)





Thirteen Week Periods Ended

December 27, 2025
December 28, 2024Reported Earnings Per Share



Net income
$                       445
$                       493Less: Net income attributable to noncontrolling interests
—
—Net income attributable to TD Group
445
493Less: Dividends paid on participating securities
(59)
(49)Net income applicable to TD Group common stockholders—basic and diluted
$                       386
$                       444Weighted-average shares outstanding under the two-class method



Weighted-average common shares outstanding
56.4
56.2Vested options deemed participating securities
1.8
2.1Total shares for basic and diluted earnings per share
58.2
58.3Earnings per share—basic and diluted
$                      6.62
$                      7.62Adjusted Earnings Per Share



Net income
$                       445
$                       493Gross Adjustments to EBITDA
50
(26)Purchase Accounting Backlog Amortization
8
6Tax adjustment (1)
(24)
(17)Adjusted net income
$                       479
$                       456Adjusted diluted earnings per share under the two-class method
$                      8.23
$                      7.83Diluted Earnings Per Share to Adjusted Earnings Per Share



Diluted earnings per share from net income attributable to TD Group
$                      6.62
$                      7.62Adjustments to diluted earnings per share:



 Inclusion of the dividend equivalent payments
1.02
0.83Acquisition transaction and integration-related expenses
0.25
0.26Non-cash stock and deferred compensation expense
0.35
0.33Tax adjustment on income from continuing operations before taxes (1)
(0.15)
(0.37)  Other, net
0.14
(0.84)Adjusted earnings per share
$                      8.23
$                      7.83













(1)
For the thirteen week periods ended December 27, 2025 and December 28, 2024, the Tax adjustment represents the tax effect of the adjustments at the applicable effective tax rate, as well as the impact on the effective tax rate when excluding the excess tax benefits on stock option exercises. Stock compensation expense is excluded from adjusted net income and therefore we have excluded the impact that the excess tax benefits on stock option exercises have on the effective tax rate for determining adjusted net income. TRANSDIGM GROUP INCORPORATED

SUPPLEMENTAL INFORMATION - RECONCILIATION OF NET CASH

PROVIDED BY OPERATING ACTIVITIES TO EBITDA, EBITDA AS DEFINED

FOR THE THIRTEEN WEEK PERIODS ENDED
Table 4DECEMBER 27, 2025 AND DECEMBER 28, 2024
(Amounts in millions)

(Unaudited)





Thirteen Week Periods Ended

December 27, 2025
December 28, 2024Net cash provided by operating activities
$                   832
$                   752Adjustments:



Changes in assets and liabilities, net of effects from acquisitions and sales of
businesses
(250)
(156)Interest expense-net (1)
464
369Income tax provision-current
128
128Gain on sale of businesses, net
—
19Non-cash stock and deferred compensation expense (2)
(27)
(25)EBITDA
1,147
1,087Adjustments:



Acquisition transaction and integration-related expenses (3)
12
13Non-cash stock and deferred compensation expense (2)
27
25Other, net (4)
11
(64)EBITDA As Defined
$                1,197
$                1,061 













(1)
Represents interest expense, net of interest income, excluding the amortization of debt issuance costs and discount on debt.


(2)
Represents the compensation expense recognized under our stock option plans and deferred compensation plans.


(3)
Represents costs incurred to integrate acquired businesses into our operations; facility relocation costs and other acquisition-related costs; transaction and valuation-related costs for acquisitions comprising deal fees, legal, financial and tax due diligence expenses; and amortization expense of inventory step-up recorded in connection with the purchase accounting of acquired businesses.


(4)
Primarily represents foreign currency transaction gains or losses, payroll withholding taxes related to dividend equivalent payments and stock option exercises, non-service related pension costs, deferred compensation payments and other miscellaneous income or expense, such as gain on sale of business. TRANSDIGM GROUP INCORPORATED

SUPPLEMENTAL INFORMATION - BALANCE SHEET DATA
Table 5(Amounts in millions)
(Unaudited)





December 27, 2025
September 30, 2025Cash and cash equivalents
$                  2,528
$                  2,808Trade accounts receivable—Net
1,564
1,617Inventories—Net
2,373
2,095Current portion of long-term debt
125
124Short-term borrowings—trade receivable securitization facility
724
724Accounts payable
385
368Accrued and other current liabilities
1,301
966Long-term debt
29,197
29,167Total TD Group stockholders' deficit
(9,270)
(9,686) TRANSDIGM GROUP INCORPORATEDSUPPLEMENTAL INFORMATION - RECONCILIATION OF EBITDA,EBITDA AS DEFINED TO NET INCOME AND REPORTED EARNINGS PERSHARE TO ADJUSTED EARNINGS PER SHARE GUIDANCE MIDPOINTFOR THE FISCAL YEAR ENDING SEPTEMBER 30, 2026Table 6(Amounts in millions, except per share amounts)(Unaudited)



GUIDANCE MIDPOINT

Fiscal Year Ended September 30, 2026Net Income
$                                    2,008Adjustments:

Depreciation and amortization expense
415Interest expense-net
1,900Income tax provision
619EBITDA
4,942Adjustments:

Acquisition transaction and integration-related expenses (1)
54Non-cash stock and deferred compensation expense (1)
190Other, net (1)
24Gross Adjustments to EBITDA
268EBITDA As Defined
$                                    5,210EBITDA As Defined Margin (1)
52.4 %


Earnings per share
$                                    33.43Adjustments to earnings per share:

Inclusion of the dividend equivalent payments
1.02Acquisition transaction and integration-related expenses
1.17Non-cash stock and deferred compensation expense
2.50Other, net
0.26Adjusted earnings per share
$                                    38.38


Weighted-average shares outstanding
58.3 








(1)
Refer to Table 2 above for definitions of Non-GAAP measurement adjustments. TRANSDIGM GROUP INCORPORATED

SUPPLEMENTAL INFORMATIONCURRENT FISCAL YEAR 2026 GUIDANCE VERSUSPRIOR FISCAL YEAR 2026 GUIDANCE
Table 7(Amounts in millions, except per share amounts)
(Unaudited)







Current
Fiscal Year 2026
Guidance Issued
February 3, 2026
Prior
Fiscal Year 2026
Guidance Issued
November 12, 2025
Change at
Midpoint






Net Sales
$9,845 to $10,035
$9,750 to $9,950
$90






GAAP Net Income
$1,952 to $2,064
$1,906 to $2,026
$42






GAAP Earnings Per Share
$32.47 to $34.39
$31.55 to $33.59
$0.86






EBITDA As Defined
$5,140 to $5,280
$5,075 to $5,225
$60






Adjusted Earnings Per Share
$37.42 to $39.34
$36.49 to $38.53
$0.87






Weighted-Average Shares Outstanding
58.3
58.5(0.2)






 



View original content to download multimedia:https://www.prnewswire.com/news-releases/transdigm-group-reports-fiscal-2026-first-quarter-results-302677496.htmlSOURCE TransDigm Group Inc.

Original: TransDigm Group Reports Fiscal 2026 First Quarter Results

The Apex Defender: Why Strategic M&A and Autonomous Tech are Driving a $2.7T ValuationJanuary 26, 2026 3:40 PM
PR Newswire (US)

Issued on behalf of VisionWave Holdings, Inc.VANCOUVER, BC, Jan. 26, 2026 /PRNewswire/ -- USA News Group News Commentary – Global defense expenditure reached an unprecedented $2.718 trillion in 2024, marking the steepest year-over-year rise since the Cold War as NATO members alone deployed $1.506 trillion to accelerate structural consolidation across autonomous weapons platforms and aerospace aftermarket networks[1]. The artificial intelligence defense market is projected to expand to $22.75 billion by 2029, driven by developments in autonomous weapon systems and high-velocity decision logic that collapse threat evaluation timelines from minutes into microseconds[2]. This convergence positions VisionWave Holdings Inc. (NASDAQ: VWAV), Boeing (NYSE: BA), TransDigm Group (NYSE: TDG), Booz Allen Hamilton (NYSE: BAH), and BAE Systems (OTCPK: BAESY) as specialized engineering nodes across the defense modernization supercycle.







Aerospace and defense analysts forecast aftermarket MRO demand will expand at a 3.2% CAGR through 2035, with US defense AI spending projected to reach $5.8 billion by 2029 as operators prioritize integrated mission systems and engine sustainment contracts[3]. The Department of Defense's $961.6 billion FY2026 budget request and the proposed $175 billion Golden Dome space-based missile defense architecture underscore how layered defensive systems and proprietary command-control intellectual property now establish the primary valuation floor for defense primes navigating the strategic M&A landscape[4].VisionWave Holdings Inc. (NASDAQ: VWAV) is building a comprehensive autonomy platform that combines advanced radio-frequency sensing, computational acceleration, and industrial robotics across defense and critical energy infrastructure markets worldwide.The company recently acquired qSpeed, a proprietary computational acceleration engine independently valued at $99.6 million by BDO Consulting Group. This technology addresses a fundamental challenge in modern defense systems: the decision latency that exists between threat detection and response execution. In battlefield scenarios where microseconds determine outcomes, qSpeed is designed to eliminate computational bottlenecks that traditionally slow threat assessment and targeting processes.VisionWave has announced initial progress integrating qSpeed across multiple operational platforms, including WaveStrike™ RF-enabled fire control systems and Argus™ counter-drone technology. The system works by prioritizing decision-critical computations first, enabling rapid initial conclusions that continuously refine themselves as additional data becomes available. This intelligent approach compresses threat evaluation timelines from minutes into seconds without requiring operators to replace existing hardware infrastructure, reducing both cost and deployment friction.For WaveStrike specifically, qSpeed integration delivers RF-informed, operator-assisted targeting capabilities by collapsing computation cycles required for range estimation and lead calculation. The result is instantaneous targeting guidance during high-velocity engagement scenarios, providing human operators with real-time firing solutions when they need them most.VisionWave's intellectual property position strengthened significantly with the issuance of U.S. Patent No. 12,499,578, which secures enforceable protection for the proprietary radio-frequency sensing and artificial intelligence architecture powering both Argus and its SkyWeave high-frequency communications backbone. This patent establishes defensible market positioning in the rapidly growing space-enabled counter-UAS sector.Beyond defense applications, VisionWave is executing a strategic expansion into Southern Europe through its Solar Drone Ltd. subsidiary. The company has secured follow-on hardware orders and established distribution agreements covering Italy and Spain, targeting critical infrastructure maintenance markets across the region.VisionWave's universal Adaptation Kit enables seamless integration of heavy-duty payloads exceeding 200 pounds into any third-party drone fleet. This drone-agnostic approach allows infrastructure operators to deploy VisionWave technology for high-voltage insulator cleaning and power grid maintenance without replacing their existing equipment investments.To accelerate commercialization timelines, VisionWave plans to invest up to $10 million in U.S.-based development over the next 6 to 12 months, pushing qSpeed toward production readiness while simultaneously expanding its addressable market across defense and energy infrastructure sectors.CONTINUED… Read this and more news for VisionWave Holdings at:  https://usanewsgroup.com/2025/09/11/the-ai-defense-technology-developments-potentially-relevant-in-2025-26/Boeing (NYSE: BA) and the Royal Australian Air Force have successfully executed a force integrated air-to-air autonomous weapon engagement from an MQ-28 Collaborative Combat Aircraft. The landmark mission involved an MQ-28 Ghost Bat teaming with a RAAF E-7A Wedgetail and F/A-18F Super Hornet to destroy a fighter-class target drone using a Raytheon AIM-120 AMRAAM missile, marking the first time an autonomous aircraft has completed an air-to-air weapon engagement."This is the first time an autonomous aircraft has completed an air-to-air weapon engagement with an AIM-120 missile, establishing the MQ-28 as a mature combat capable CCA," said Amy List, managing director of Boeing Defence Australia. "This latest achievement proves the advantage specialized CCA platforms bring to defense forces' mission effectiveness, delivering increased operational mass and data exchange for informed decision-making while reducing cost and crewed pilot risk."The mission demonstrated sophisticated crewed-uncrewed teaming with the E-7A operator maintaining custodianship of the MQ-28 while the F/A-18F provided sensor coverage and shared targeting data across all three platforms. Boeing implemented open architectures and an advanced digital ecosystem to develop the necessary hardware, software and mission systems in under eight months.TransDigm Group (NYSE: TDG) has entered into a definitive agreement to acquire Jet Parts Engineering and Victor Sierra Aviation Holdings for approximately $2.2 billion in cash including certain tax benefits. The companies are leading independent designers and manufacturers of proprietary PMA and OEM-alternative aerospace aftermarket parts, collectively generating approximately $280 million in revenue for calendar year 2025 with nearly 100% commercial aftermarket revenue across commercial airlines, business aviation and general aviation sectors."We are excited to have an agreement to acquire Jet Parts Engineering and Victor Sierra, two well run, profitable businesses that will fit well within TransDigm," said Mike Lisman, CEO of TransDigm. "The Companies' highly engineered, proprietary OEM-alternative parts and services generate nearly 100% commercial aftermarket revenue."JPE serves commercial, regional and cargo airlines with proprietary PMA components across major commercial aerospace platforms from facilities in Washington, Texas, New York, Florida, Alabama and the United Kingdom with approximately 300 employees. VSA offers a complete line of highly engineered PMA, custom design and OEM products through brands including McFarlane Aviation, Tempest Aero Group and Aviation Products Systems from facilities in Kansas, North Carolina and Illinois with approximately 400 employees.Booz Allen Hamilton (NYSE: BAH) has announced a new collaboration with Andreessen Horowitz to strengthen America's technical supremacy. As the first-ever a16z Technology Acceleration Partner for Governments, Booz Allen will work with companies across the a16z portfolio to build, accelerate and deliver technologies for U.S. missions in national security, civilian services and beyond, leveraging deep mission expertise, strategic networks and leading capabilities in AI, cybersecurity, warfare tech and engineering."a16z and Booz Allen have a strong history working with world-class startups to successfully deliver commercial technologies into U.S. missions," said Horacio Rozanski, Chairman and CEO of Booz Allen. "Now we are combining the full capacity of a16z's preeminent VC network and Booz Allen's proven ability to build advanced tech and accelerate its adoption to drive America's tech supremacy."The partnership aims to help growth-stage companies in the a16z portfolio go faster to market, prepare products for deployment into secure networks and highly regulated government environments, and co-develop IP for new commercial offerings. Booz Allen employs approximately 32,500 people globally as of September 30, 2025 and had revenue of $12.0 billion for the 12 months ended March 31, 2025.BAE Systems (OTCPK: BAESY) has received a £453.5 million contract from the UK Ministry of Defence for full production of the ECRS Mk2 advanced radar for UK Typhoon aircraft. The state-of-the-art radar delivers enhanced electronic warfare capability, allowing the aircraft to detect, identify and track multiple targets in the air and on the ground, with the funding directly supporting 1,300 jobs across UK industry in advanced radar development and integration including 400 jobs at Leonardo and more than 120 jobs at BAE Systems predominantly in Scotland and North West England."The Typhoon programme is a fundamental pillar of the UK's national defence and security," said Richard Hamilton, Managing Director - Air Operations at BAE Systems Air. "The continued investment in Typhoon capability is crucial and ensures we're able to maximise the UK's investment in the aircraft and accelerate combat air technologies critical for defence capabilities."BAE Systems and Leonardo UK will lead delivery of 38 ECRS Mk2 radars integrated onto the full fleet of Tranche 3 standard jets with the radar due to enter service with the RAF by the end of the decade. The Typhoon programme supports more than 20,000 jobs throughout the UK annually and has delivered in excess of £30 billion of export value to the UK economy.Article Sources: https://usanewsgroup.com/2025/09/11/the-ai-defense-technology-developments-potentially-relevant-in-2025-26/ CONTACT:USA NEWS GROUP
info @acblanke1DISCLAIMER: Nothing in this publication should be considered as personalized ?nancial advice. We are not licensed under securities laws to address your particular ?nancial situation. No communication by our employees to you should be deemed as personalized ?nancial advice. Please consult a licensed ?nancial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor quali?ed to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is owned by Market IQ Media Group, Inc. ("MIQ"). This article is being distributed for MIQ, who has been paid a fee for VisionWave Holdings, Inc. advertising and digital media from the company directly. There may be 3rd parties who may have securities of VisionWave Holdings, Inc., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a con?ict of interest as to our ability to remain objective in our communication regarding the pro?led company. Because of this con?ict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ owns securities of VisionWave Holdings, Inc. which were purchased in the open market. MIQ reserves the right to buy and sell, and will buy and sell shares of VisionWave Holdings, Inc. at any time thereafter without any further notice. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material, including this article, which is disseminated by MIQ has been approved by VisionWave Holdings, Inc.; this is a paid advertisement, and we own shares of the mentioned company that we will sell, and we also reserve the right to buy shares of the company in the open market, or through other investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless veri?ed by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.  This publication may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations and beliefs and involve risks and uncertainties that could cause actual results to differ materially from those described.  Forward-looking statements in this document are subject to risks and uncertainties, including technological, regulatory, market, and geopolitical factors, which may cause actual results to differ materially. VisionWave Holdings, Inc. makes no representations or warranties as to the accuracy of third-party projections or market data cited herein.  For more information on risks, see VisionWave Holdings Inc.'s filings with the SEC.SOURCES:1.   https://editorialge.com/global-defense-inflation/
2.   https://www.globenewswire.com/news-release/2026/01/07/3214699/28124/en/Artificial-Intelligence-in-Defense-and-Security-Global-Research-Report-2025-Market-to-Reach-22-75-Billion-by-2029-Long-term-Forecast-to-2034.html
3.   https://www.deloitte.com/us/en/insights/industry/aerospace-defense/aerospace-and-defense-industry-outlook.html
4.   https://www.psware.com/2026-aerospace-and-defense-industry-outlook/  Logo - https://mma.prnewswire.com/media/2838876/5734905/USA_News_Group_Logo.jpg  



View original content to download multimedia:https://www.prnewswire.com/news-releases/the-apex-defender-why-strategic-ma-and-autonomous-tech-are-driving-a-2-7t-valuation-302670126.html

Original: The Apex Defender: Why Strategic M&A and Autonomous Tech are Driving a $2.7T Valuation

TDG 10Q due Tuesday 5/6

>>> TransDigm Group (TDG) Incorporated designs, produces, and supplies aircraft components in the United States and internationally. Its Power & Control segment offers mechanical/electro-mechanical actuators and controls, ignition systems and engine technology, specialized pumps and valves, power conditioning devices, specialized AC/DC electric motors and generators, batteries and chargers, databus and power controls, sensor products, switches and relay panels, hoists, winches and lifting devices, and cargo loading and handling systems. This segment serves engine and power system and subsystem suppliers, airlines, third party maintenance suppliers, military buying agencies, and repair depots. The company's Airframe segment provides engineered latching and locking devices, engineered rods, engineered connectors and elastomer sealing solutions, cockpit security components and systems, cockpit displays, engineered audio, radio and antenna systems, lavatory components, seat belts and safety restraints, engineered and customized interior surfaces and related components, thermal protection and insulation products, lighting and control technology, and parachutes. This segment serves airframe manufacturers, cabin system and subsystem suppliers, airlines, third party maintenance suppliers, military buying agencies, and repair depots. Its Non-aviation segment offers seat belts and safety restraints for ground transportation applications; electro-mechanical actuators for space applications; hydraulic/electromechanical actuators and fuel valves for land-based gas turbines; refueling systems for heavy equipment used in mining, construction, and other industries; and turbine controls for the energy and oil and gas markets. This segment serves off-road vehicle and subsystem suppliers, child restraint system suppliers, and satellite and space system suppliers; and manufacturers of heavy equipment. The company was founded in 1993 and is based in Cleveland, Ohio.

The Independent Director of TransDigm Group Incorporated (NYSE:TDG), William Dries, Just Bought 76% More Shares

https://finance.yahoo.com/news/independent-director-transdigm-group-incorporated-133433788.html

WOW sold TDG @ $620.00 now seeing where it is Im glad I did. OPEC wars, Coronavirus, China trade deal cancellation. Just sitting on the sidelines waiting for a bottom. Recession?

Thank you Coronavirus, where is the bottom TDG, youre looking JUICY

TDG is getting pummeled as if they were paying another special dividend. Im looking for the bottom to reload, low $500's maybe $400's? Corona virus is creating a world of buying ops!

https://www.barchart.com/stocks/quotes/TDG/opinion

TransDigm Group (NYSE:TDG): Q1 Non-GAAP EPS of $4.93 beats by $0.34;

GAAP EPS of $0.83 misses by $2.24.

Revenue of $1.46B (+47.0% Y/Y) in-line.

Fiscal 2020 Outlook
"We are maintaining our fiscal 2020 sales, EBITDA As Defined and adjusted earnings per share guidance at this time," Mr. Stein continued. "Currently we do not anticipate a material impact to our consolidated financial results from the evolving 737 Max situation and other global concerns. We are adjusting our GAAP earnings per share guidance to reflect the dividend equivalent payments related to the $32.50 special dividend declared in December."
Assuming no additional acquisitions, divestitures or refinancing transactions, TransDigm expects fiscal 2020 financial guidance to be as follows:

Net sales are anticipated to be in the range of $6,175 million to $6,325 million compared with $5,223 million in fiscal 2019;
Net income from continuing operations is anticipated to be in the range of $1,000 million to $1,080 million compared with $839 million in fiscal 2019;

Earnings per share from continuing operations is expected to be in the range of $14.20 to $15.60 per share based upon weighted average shares outstanding of 57.4 compared with $12.94 per share in fiscal 2019;
EBITDA As Defined is anticipated to be in the range of $2,775 million to $2,875 million compared with $2,419 million in fiscal 2019; and
Adjusted earnings per share is expected to be in the range of $19.80 to $21.20 per share compared with $18.27 per share in fiscal 2019.

TransDigm Group (TDG) Earnings Expected to Grow: What to Know Ahead of Q1 Release

https://finance.yahoo.com/news/transdigm-group-tdg-earnings-expected-173105964.html

Damn this is my shinning star for 2020. Printing 661 today. So far in less than a month I am up 100 dollars a share collected a 32 dollar dividend and sold and bought back 4 Puts!

Amazing!

Jan 02, 2020 TDG opened at $560.08, 20 days later TDG prints $644.00

UP $84.00 in 3 weeks!

What a Beast!

TDG UP 82% since this time last year

https://www.barchart.com/stocks/quotes/TDG/overview

WOW that is all I have to say!

Why TransDigm (TDG) Could Beat Earnings Estimates Again

https://finance.yahoo.com/news/why-transdigm-tdg-could-beat-171005607.html

Damn this one has sure worked out great! Bought 20 shares for the divy and bought 20 more on Xdate. Here we are back at 590!

Also on my second PUT selling just for the bonus ride!

Thanks Scotty!

special divy $32.50

$TDG short squeeze all day Transdigm Group Incorporated Inc Nyse Tdg Short Squeeze

News: $TDG TransDigm Group Reports Fiscal 2019 Third Quarter Results and Declares a Special Cash Dividend of $30.00 Per Share

CLEVELAND , Aug. 6, 2019 /PRNewswire/ -- TransDigm Group Incorporated (NYSE: TDG), a leading global designer, producer and supplier of highly engineered aircraft components, today reported results for the third quarter ended June 29, 2019. The Company also announced that its ...

Read the whole news TransDigm Group Reports Fiscal 2019 Third Quarter Results and Declares a Special Cash Dividend of $30.00 Per Share

TIGER GLOBAL MANAGEMENT LLC has filed a new 13G, reporting 5.5% ownership in $TDG - https://fintel.io/so/us/tdg

TransDigm $TDG has little Margin of Safety for value investors before earnings Tuesday:

Fair Value Analysis

Rvue 65 of float purchased by acorn a NYSE listed co float in lockdown mode ready to run soon

http://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=4&cad=rja&ved=0CEEQFjAD&url=http%3A%2F%2Fwww.bnymellon.com%2Fglobalmarkets%2Fcapitalmarkets.html&ei=aGARU7rBB-GEyAHnlYDgBA&usg=AFQjCNEzig8Nu2A8IgrM7Y08-fYBMHDnQw&sig2=XoYJK8KOVtn5HiXAxOdwXg

the underdog.

<iframe width="420" height="315" src="//www.youtube.com/embed/qHej4ZqZDwo" frameborder="0" allowfullscreen></iframe>

did anyone here got there diidend yet?

any one in here?

~ $TDG ~ Earnings posted, pending or coming soon! In Charts and Links Below!

~ $TDG ~ Earnings expected on Monday *
This Week In Earnings: Earnings are coming or are already posted! This is what the charts look like! If you play the earnings these posts can be very helpful to you!
Want more like this? Search Keyword: MACMONEY >>> http://tinyurl.com/MACMONEY <<<
One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.








http://stockcharts.com/h-sc/ui?s=TDG&p=D&b=3&g=0&id=p88783918276&a=237480049




http://stockcharts.com/h-sc/ui?s=TDG&p=W&b=3&g=0&id=p54550695994



~ Barchart: http://barchart.com/quotes/stocks/TDG?
~ OTC Markets: http://www.otcmarkets.com/stock/TDG/company-info
~ Google Finance: http://www.google.com/finance?q=TDG
~ Google Fin Options: hhttp://www.google.com/finance/option_chain?q=TDG#
~ Yahoo! Finance ~ Stats: http://finance.yahoo.com/q/ks?s=TDG+Key+Statistics
~ Yahoo! Finance ~ Profile: http://finance.yahoo.com/q/pr?s=TDG
Finviz: http://finviz.com/quote.ashx?t=TDG
~ BusyStock: http://busystock.com/i.php?s=TDG&v=2
~ CandlestickChart: http://www.candlestickchart.com/cgi/chart.cgi?symbol=TDG&exchange=US
~ Investorshub Trades: http://ih.advfn.com/p.php?pid=trades&symbol=TDG
~ Investorshub Board Search: http://investorshub.advfn.com/boards/getboards.aspx?searchstr=TDG
~ Investorshub PostStream Search: http://investorshub.advfn.com/boards/poststream.aspx?ticker=TDG
~ Investorshub Goodies Search: http://investorshub.advfn.com/boards/msgsearchbyboard.aspx?boardID=18582&srchyr=2011&SearchStr=TDG
~ Investorshub Message Search: http://investorshub.advfn.com/boards/msgsearch.aspx?SearchStr=TDG
~ MarketWatch: http://www.marketwatch.com/investing/stock/TDG/profile
~ E-Zone Chart: http://www.windchart.com/ezone/signals/?symbol=TDG
~ 5-Min Wind: http://www.windchart.com/stockta/analysis?symbol=TDG
~ 10-Min Wind: http://www.windchart.com/stockta/analysis?symbol=TDG&size=l&frequency=10&color=g
~ 30-Min Wind: http://www.windchart.com/stockta/analysis?symbol=TDG&size=l&frequency=30&color=g
~ 60-Min Wind: http://www.windchart.com/stockta/analysis?symbol=TDG&size=l&frequency=60&color=g


http://investorshub.advfn.com/boards/post_prvt.aspx?user=251916

*If the earnings date is in error please ignore error. I do my best.

http://www.transdigm.com/phoenix.zhtml?c=196053&p=irol-index