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Transdigm Group Incorporated (TDG-1.80%) has submitted its 10-Q filing for the quarterly period ended December 28, 2024.
The filing includes financial statements for the quarter, showing an increase in net sales to $2,006 million from $1,789 million in the same quarter the previous year. This increase was driven by higher sales in both the Power & Control and Airframe segments.
Cost of sales for the quarter was $771 million, representing 38.4% of sales, compared to 41.8% in the same quarter of the previous year. The decrease in cost ratio is attributed to higher production volume spreading fixed overhead costs.
The company reported a gross profit of $1,235 million for the quarter, compared to $1,042 million in the previous year, with the increase attributed to higher sales and improved cost management.
Selling and administrative expenses decreased to $211 million from $220 million, primarily due to a reduction in non-cash stock and deferred compensation expense.
Net income for the quarter was $493 million, up from $382 million in the previous year. After dividend equivalent payments, net income attributable to common stockholders was $444 million, compared to $281 million in the previous year.
Cash provided by operating activities was $752 million, while cash used in investing and financing activities was $24 million and $4,516 million, respectively.
Transdigm had a working capital of $3,872 million as of December 28, 2024. The company maintains significant cash liquidity to meet its anticipated funding requirements.
The filing details recent acquisitions, including Raptor Scientific and CPI's Electron Device Business, which contributed to the increase in net sales.
Transdigm does not anticipate cash dividend payments to common stockholders in the near future, following a special cash dividend paid in the first quarter.
The company continues to focus on its value-driven operating strategy, emphasizing profitable new business, cost structure improvements, and value-added products.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Transdigm Group Incorporated quarterly 10-Q report dated February 4, 2025. To report an error, please email earnings@qz.com.