5 Stocks that Just Delivered Impressive Quarterly Earnings

2. TransDigm Group (NYSE: TDG)

Number of Hedge Fund Holders: 62

TransDigm primarily makes money by selling spare parts to airlines and commercial aerospace clients. The company on Tuesday announced its profit and sales for the third quarter that topped expectations.

The company reported adjusted earnings of $3.33 per share for the quarter ended July 3, more than doubled from $1.54 per share in the comparable period of 2020. Analysts, on average, were looking for earnings of $2.93 per share. Revenue for the quarter jumped 19 percent on a year-over-year basis to $1.218 billion, just ahead of the consensus forecast of $1.2 billion. However, TDG stock didn’t gain any value despite beating expectations.

Discussing the results, CEO Kevin Stein said:

“Trends in the commercial aerospace industry are encouraging and have increasingly shown signs of recovery in recent months with vaccination rates expanding and air traffic improving, especially in certain domestic markets. We also saw another quarter of sequential improvement in our commercial aftermarket revenues.”