TransDigm Group (NYSE: TDG) reported Q2 EPS of $2.58, $0.07 better than the analyst estimate of $2.51. Revenue for the quarter came in at $1.19 billion versus the consensus estimate of $1.17 billion.

Second quarter highlights include:

• Net sales of $1,194 million, down 17.3% from $1,443 million in the prior year's quarter;
• Income from continuing operations of $105 million;
• Earnings per share from continuing operations of $1.79;
• EBITDA As Defined margin of 43.5%, representing sequential improvement;
• EBITDA As Defined of $519 million;
• Adjusted earnings per share of $2.58; and
• Positive operating cash flow generation of $98 million.

"The commercial aerospace industry has continued to show signs of recovery in recent months with the distribution of the COVID-19 vaccine and increasing air traffic, especially in certain domestic markets. We also saw another quarter of strong sequential improvement in our commercial bookings. These trends are encouraging and although the pace of the recovery is uncertain, we remain ready to meet the demand as it returns," stated Kevin Stein, TransDigm Group's President and Chief Executive Officer. "Additionally, I am very pleased that we continue to sequentially expand our EBITDA As Defined margin as a result of careful management of our cost structure and focus on our operating strategy in this challenging commercial environment."

Fiscal 2021 Outlook

Given the considerable uncertainty around the extent and duration of business disruptions related to the COVID-19 pandemic, and how that will continue to impact operations, the Company will not provide fiscal year 2021 guidance at this time.

For earnings history and earnings-related data on TransDigm Group (TDG) click here.