Transdigm Group shares rose to a new record high Tuesday morning after the producer of engineered aircraft components reported results for fiscal Q3 that topped analysts’ estimates. TDG was up 3% at $292.79 recently, trading in a new 52-week range between $203.72 to $295.00. Adjusted net income in the quarter ended July 1 was $3.30 per share, up from $3.09 per share in the prior year period and came in higher than the $3.17 per share Street estimate provided by Capital IQ.
Net sales were $907.7 million, up from $797.7 million reported for the same period last year and higher than the $904 million Street estimate. For 2017, the company expects adjusted earnings to range from $12.09 to $12.33 per share on net sales of $3.53 billion to $3.57 billion. The Street consensus calls for earnings of $12.30 per share on revenues of $3.56 billion.