TransDigm Group (TDG), a global designer, producer and supplier of highly engineered aircraft components, reported fourth-quarter net sales of $2,988 million, up 23% from $2,437 million a year earlier, matching the year-over-year growth rate of the immediately preceding quarter.

The company said fourth-quarter results exceeded the high end of its most recent guidance for both revenue and EBITDA As Defined. Organic sales growth as a percentage of net sales was 14%, after 13% in the third quarter and 11.0% in the second quarter.

GAAP earnings per share were $10.33, up 33% from $7.75 a year earlier. Adjusted earnings per share were $12.44, up 15% from $10.82. EBITDA As Defined was $1,583 million, up 20% from $1,320 million.

Net income fell 4% to $586 million from $609 million a year earlier, reversing a 10% year-over-year increase in the third quarter. The company said the decrease primarily reflected higher interest expense from a larger year-over-year gross debt balance and higher tax expense, offset by the increase in net sales and the application of its operating strategy. Adjusted net income increased 12% to $706 million.

EBITDA As Defined as a percentage of net sales was 53.0%, which the company said included approximately two percentage points of dilution from recent acquisitions, compared with 54.2% a year earlier. The third-quarter margin was 52.8% and the second-quarter margin 52.6%.

On September 28, 2026, TransDigm completed the acquisition of Prince & Izant for approximately $1.07 billion in cash, including certain tax benefits. P&I is a designer and manufacturer of brazing alloys and specialty metal components used in aerospace and defense, aeroderivative turbine, and transportation applications. During the quarter the company issued $3.0 billion of 6.75% Senior Secured Notes maturing January 2035 and used net proceeds to repurchase about $1.8 billion of 2028 notes.

Fourth-quarter share repurchases totaled $943 million, or 820 thousand shares at an average $1,150 a share. Chief Executive Officer Mike Lisman said fiscal 2026 included about $4.4 billion of acquisitions, including Simmonds Precision Products, Jet Parts Engineering, Victor Sierra Aviation, Prince & Izant, and twelve bolt-on deals, and a record $2.8 billion of share repurchases.

For the full fiscal year ended September 30, 2026, net sales increased 20% to $10,557 million from $8,831 million. Organic sales growth was 11%, and 13% excluding non-aerospace sales. Fiscal 2026 net income increased 2% to $2,108 million. Fiscal 2026 EBITDA As Defined was $5,563 million, and the EBITDA As Defined margin was 52.7%, including about two percentage points of acquisition dilution, versus 53.9% in fiscal 2025.

Lisman said the company enters fiscal 2027 with significant liquidity and the financial flexibility to pursue additional M&A and other capital deployment. TransDigm is guiding fiscal 2027 net sales of $11,950 million to $12,150 million, a 14% increase at the midpoint versus fiscal 2026. EBITDA As Defined is anticipated at $6,195 million to $6,345 million, corresponding to an EBITDA As Defined margin of about 52.0%. Adjusted earnings per share are expected at $47.09 to $47.94. The outlook assumes commercial OEM revenue growth in the high single-digit to low double-digit range, commercial aftermarket growth in the high single-digit range, and defense revenue growth in the high single-digit range.