5 Companies Drawing Attention on Quarterly Reports

1. TransDigm Group Incorporated (NYSE:TDG)

Number of Hedge Fund Holders: 64

Shares of TransDigm Group Incorporated (NYSE:TDG) rose nearly four percent on Tuesday, May 10, 2022, after an upbeat financial performance for its fiscal second quarter. The aerospace manufacturing company reported adjusted earnings of $3.86 per share, up from $2.58 per share in the same period of 2021.

Revenue for the quarter increased 11 percent versus last year to $1.327 billion. Analysts were expecting TransDigm Group Incorporated (NYSE:TDG) to report earnings of $3.69 per share on revenue of $1.31 billion.

Updating investors on stock repurchases, TransDigm Group Incorporated (NYSE:TDG) reported that it bought back $667 million worth of its shares during the quarter. In addition, the company said that it is not providing its fiscal 2022 outlook due to uncertainty surrounding its commercial end markets.

Speaking on the results, CEO Kevin Stein said:

“It is encouraging that the global commercial aerospace recovery continues to steadily progress forward. As we expected, this recovery is not linear as the world experiences new COVID variants and certain countries deploy strict lockdown policies. However, despite these hurdles, the global commercial aerospace recovery is proceeding, led primarily by the pent-up demand for domestic leisure travel – though improving trends in international air traffic and business air travel are a positive.”

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