TDG
TransDigm Group Incorporated1270.57
-21.51-1.66%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q1 '26
Aftermarket destocking to flip tailwind
Q&A unpacked commercial aftermarket's 5-6 point lag to peers—half from engine underexposure, half distributor/airline lumpiness—with Q1 destocking hitting 1-2 points but set to turn tailwind ahead. No material PMA share loss seen; Jet Parts and Victor Sierra bought purely for 20% IRR as standalone growers, sans synergies or TransDigm-level margins. Margins topped expectations via mix and productivity; full-year guide conservative on OEM ramp risks. Defense bookings robustly outpaced sales. Q&A mostly reinforced prepared optimism. Destocking fades fast.
Key Stats
Market Cap
71.60BP/E (TTM)
39.68Basic EPS (TTM)
32.02Dividend Yield
0.07%Recent Filings
8-K
Annual meeting results
TransDigm's stockholders unanimously elected ten directors—including Jane M. Cronin, Michele L. Santana, and Robert J. Small—on March 5, 2026. They ratified Ernst & Young as auditors for fiscal 2026 with 51.6M FOR votes and approved executive pay on an advisory basis, 48.6M FOR. Board continuity locked in.
8-K
TransDigm closes $2B debt for acquisitions
TransDigm Inc. closed $2,000 million in debt offerings on February 13, 2026—$1,200 million 6.125% senior subordinated notes due 2034 and $800 million tranche N term loans due 2033 at Term SOFR plus 2.50%. Net proceeds, with cash on hand, fund acquisitions of Stellant Systems, Jet Parts Engineering and Victor Sierra Aviation. Debt secured post-acquisition solvency; leverage ratios capped at 7.25x net and 5.00x secured net.
8-K
Prices $2B debt for acquisitions
TransDigm priced $2,000 million in new debt on February 10, 2026—$1,200 million 6.125% senior subordinated notes due 2034 at par and $800 million term loans due 2033—to fund acquisitions of Stellant Systems, Jet Parts Engineering, and Victor Sierra Aviation. Closings eyed for February 13, pending conditions. Debt finances the deals cleanly.
8-K
Plans $2B debt for acquisitions
TransDigm plans $2,000 million in new debt—$1,000 million senior subordinated notes and $1,000 million term loans—to fund acquisitions of Stellant Systems, Jet Parts Engineering, and Victor Sierra Aviation Holdings, plus fees. Subject to market conditions. Closings unlinked. Risks loom on completion.
8-K
Q1 sales up 14%, guidance raised
TransDigm crushed Q1 fiscal 2026 with net sales up 14% to $2,285 million and EBITDA As Defined rising 13% to $1,197 million at 52.4% margin, fueled by double-digit commercial OEM growth. Acquisitions beat expectations. It raised full-year guidance: sales $9,845-$10,035 million, adjusted EPS $37.42-$39.34. Strong bookings across channels.
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