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BUZZ-TransDigm rises after upbeat Q3 results, 2024 revenue forecast
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BUZZ-TransDigm rises after upbeat Q3 results, 2024 revenue forecast

** Aerospace supplier TransDigm Group's shares TDG.N rise 4% to $1258.66 in early market hours

** TDG beats Q3 profit, revenue expectations as robust travel demand led to increased orders for components and aftermarket parts from planemakers and carriers

** Q3 sales rose 17% yoy to $2.04 bln vs ests of $2.01 bln - LSEG data

** Q3 adjusted profit was $7.96/share vs LSEG estimate of $7.56/share

** TDG lifts annual revenue forecast assuming ~20% revenue growth in its commercial OEM business and mid-teens percentage growth in defense and commercial aftermarket revenues

** TDG sees FY 2024 sales ranging from $7.87 bln to $7.93 bln compared with earlier range of $7.68 bln to $7.8 bln

** Narrows FY 2024 adj profit outlook to range $32.62 - $33.42 per share, from $31.75 - $33.09 per share

** Including session's gains, stock had risen 24% YTD


(Reporting by Aatreyee Dasgupta)

((Aatreyee.Dasgupta@thomsonreuters.com))

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