Guidance
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FY2026 Q3
상향
Transdigm Group Incorporated 실적 발표
Buzzberg 분석
Commercial aftermarket guidance raised to low double digits
Transdigm reported a strong Q3 with all end markets growing, raised its full-year guidance, and announced a new acquisition (Princeton IZANT) after pulling out of the Stellent deal due to DOJ opposition. Management emphasized strong commercial aftermarket growth despite geopolitical uncertainties and lifted its growth outlook for 2026. Strong Q3 with 17% growth in both commercial OEM and commercial aftermarket, and 11% defense growth.
Buzzberg 분석 Commercial aftermarket guidance raised to low double digits Transdigm reported a strong Q3 with all end markets growing, raised its full-year guidance, and announced a new acquisition (Princeton IZANT) after pulling out of the Stellent deal due to DOJ opposition. Management emphasized strong commercial aftermarket growth despite geopolitical uncertainties and lifted its growth outlook for 2026. Strong Q3 with 17% growth in both commercial OEM and commercial aftermarket, and 11% defense growth. 전체 분석 보기분석 접기
Transdigm reported a strong Q3 with all end markets growing, raised its full-year guidance, and announced a new acquisition (Princeton IZANT) after pulling out of the Stellent deal due to DOJ opposition. Management emphasized strong commercial aftermarket growth despite geopolitical uncertainties and lifted its growth outlook for 2026. Strong Q3 with 17% growth in both commercial OEM and commercial aftermarket, and 11% defense growth.
- Full-year FY26 guidance raised: revenue to ~$10.51B (from prior ~$10.36B midpoint), EBITDA to ~$5.52B (from ~$5.42B), EPS to ~$41.04, and FCF to ~$2.6B.
- Commercial aftermarket growth guide raised to 'low double digit' from 'high single digit to low double digit'.
- Aftermarket growth remains resilient despite RPM declines from Middle East conflict, with no material impact seen yet.
매출$2.741B+8% 전분기 대비
주당순이익(EPS)$10.87+10% 전분기 대비
매출총이익률59.39%보고값
영업이익률44.76%보고값
근거 있는 핵심 내용 6개
지금 중요한 점
이번 발표에서 가장 의미 있는 변화를 정리했습니다.
Demand
Bookings continue to support aftermarket growth outlook
Demand
Defense bookings outpaced sales, supporting future growth
핵심 내용 3개 더 보기
M&A
M&A pipeline active with focus on aerospace and defense
Margins
Base business organic margin expansion remains on track
Macro
Middle East conflict has not materially impacted demand
보고 기간
보고 실적
| 지표 | 보고값 | 변화 |
|---|---|---|
| 매출 | $2.741B | +8% 전분기 대비 |
| 주당순이익(EPS) | $10.87 | +10% 전분기 대비 |
| 매출총이익률 | 59.39% | 보고값 |
| 영업이익률 | 44.76% | 보고값 |
| 순이익 | $0.539B | +1% 전분기 대비 |
향후 전망
향후 가이던스
| 지표 | 기간 | 범위 | 중간값 | 상태 |
|---|---|---|---|---|
| 주당순이익(EPS) | FY2026 | $41.04컨센서스 부합 | $41.04 | 상향 |
| 잉여현금흐름 | FY2026 | $2.6B | $2.6B | 상향 |
| 매출 | FY2026 | $10.5B–$10.52B컨센서스 부합 | $10.51B | 상향 |
| 매출COMMERCIAL_AFTERMARKET | FY2026 | 10%–12% | 11% | 상향 |
AI, 자본지출 및 수요 분석
경영진 분석
Confident
Management expressed confidence in strong performance, raised full-year guidance, and highlighted robust growth across all market channels while remaining measured on uncertainties like Middle East conflict and regulatory issues.
아래에 언급된 기업 3개 모두 표시
기업발표 이후 수익률
고객
ANDURIL
고객
Patrick Murphy
Transdigm won a design-in position on a new unmanned combat aircraft, likely a next-generation system from a defense prime like Anduril, highlighting a new platform win that will drive future defense revenue.
근거
“Our Electromech business developed a precision electromechanical actuator engineered to control landing gear deployment and retraction on a new unmanned combat aircraft.”
고객
Patrick Murphy
Transdigm reports strong commercial aftermarket demand despite a noted decline in RPMs due to the Middle East conflict, suggesting their aftermarket business has a large non-RPM tied component or is less correlated with near-term flight activity. — This decoupling from RPMs challenges the standard market thesis that Transdigm's aftermarket is primarily tied to flight hours, potentially making its demand more diverse and resilient.
근거
“As Boeing and Airbus bus production rates continue to climb, we anticipate continued strength in the commercial OEM market.”
외부 신호
공급망 알파 · 3발표 이후 수익률
Transdigm reports strong commercial aftermarket demand despite a noted decline in RPMs due to the Middle East conflict, suggesting their aftermarket business has a large non-RPM tied component or is less correlated with near-term flight activity.
근거
“Note that we are seeing this healthy growth despite the overall decline in RPMs arising from the conflict in the Middle East. from which we have yet to see any material impact.”
Transdigm's commercial OEM bookings are outpacing sales with a 'significantly' positive book-to-bill in Q3, serving as a leading indicator for continued commercial OEM growth into fiscal 2027.
근거
“Commercial OEM bookings posted another quarter of solid growth compared to the same prior year period, significantly outpacing sales. Commercial transport bookings had double digit growth for the third quarter.”
The failed Stellent acquisition was due to a DOJ challenge, but Transdigm frames it as an isolated incident, reaffirming its M&A pipeline, and notes it still has over $10 billion in M&A firepower.
근거
“At the end of the day, we will always be practical and prioritize the best long-term use of our shareholders' capital and our management resources. We felt we did that here. And the outcome, though disappointing, won't impact our future M&…”
방법론 및 범위
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