Subtext

TransDigm Group Incorporated TDG

SectorIndustrials
Transcripts37
Date range2016-02-09 – 2025-05-06
Calls charted37

Sentiment timeline

Net Loughran-McDonald sentiment per call (×1000), earliest → latest.

-13-7+0+7+132016 Q12017 Q22018 Q32019 Q42021 Q12022 Q22023 Q32025 Q12016 Q1 · Overall: +0.62016 Q2 · Overall: +6.52016 Q3 · Overall: +2.52016 Q4 · Overall: +4.82017 Q1 · Overall: +2.32017 Q2 · Overall: +2.82017 Q3 · Overall: +3.72017 Q4 · Overall: +1.82018 Q1 · Overall: +8.02018 Q2 · Overall: +9.32018 Q3 · Overall: +4.52018 Q4 · Overall: +7.82019 Q1 · Overall: +3.82019 Q2 · Overall: +2.62019 Q3 · Overall: +3.82019 Q4 · Overall: +6.92020 Q1 · Overall: +6.82020 Q2 · Overall: -7.12020 Q3 · Overall: -3.12020 Q4 · Overall: -0.22021 Q1 · Overall: -2.42021 Q2 · Overall: +1.02021 Q3 · Overall: +4.12021 Q4 · Overall: +2.12022 Q1 · Overall: +3.02022 Q2 · Overall: +8.12022 Q3 · Overall: +2.42022 Q4 · Overall: +3.72023 Q1 · Overall: +7.92023 Q2 · Overall: +11.02023 Q3 · Overall: +11.52023 Q4 · Overall: +6.12024 Q1 · Overall: +11.72024 Q2 · Overall: +4.92024 Q3 · Overall: +6.02025 Q1 · Overall: +6.32025 Q2 · Overall: +3.0
Overall

CEO vs CFO

Average sentiment of each executive's remarks per call. Divergence is a signal.

-19-10+0+10+192016 Q12017 Q22018 Q32019 Q42021 Q12022 Q22023 Q32025 Q12016 Q1 · CEO: +2.62016 Q4 · CEO: +2.32018 Q2 · CEO: +10.72019 Q1 · CEO: +13.52019 Q2 · CEO: +6.12019 Q3 · CEO: +7.82019 Q4 · CEO: +11.92020 Q1 · CEO: +12.92020 Q2 · CEO: -8.42020 Q3 · CEO: -2.92020 Q4 · CEO: -1.02021 Q1 · CEO: -1.72021 Q2 · CEO: +6.82021 Q3 · CEO: +10.42022 Q1 · CEO: +6.82022 Q2 · CEO: +14.32022 Q3 · CEO: +3.32022 Q4 · CEO: +7.32023 Q1 · CEO: +14.32023 Q2 · CEO: +14.12023 Q3 · CEO: +14.12023 Q4 · CEO: +14.12024 Q1 · CEO: +14.82024 Q2 · CEO: +9.42024 Q3 · CEO: +4.02025 Q1 · CEO: +7.12016 Q1 · CFO: +6.32016 Q4 · CFO: +9.02018 Q1 · CFO: +10.12019 Q1 · CFO: +3.22019 Q2 · CFO: -2.72020 Q1 · CFO: +6.62020 Q2 · CFO: +3.12020 Q3 · CFO: +4.02020 Q4 · CFO: +1.32021 Q1 · CFO: +3.62021 Q2 · CFO: +6.32021 Q3 · CFO: +2.52021 Q4 · CFO: +4.92022 Q1 · CFO: +2.62022 Q2 · CFO: +10.12022 Q4 · CFO: +8.82023 Q2 · CFO: +6.12023 Q3 · CFO: +6.92023 Q4 · CFO: +11.42024 Q1 · CFO: +16.82024 Q2 · CFO: +15.22024 Q3 · CFO: +8.02025 Q1 · CFO: +10.02025 Q2 · CFO: +5.5
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-21-11+0+11+212016 Q12017 Q22018 Q32019 Q42021 Q12022 Q22023 Q32025 Q12016 Q1 · Prepared remarks: +6.32016 Q2 · Prepared remarks: +10.22016 Q3 · Prepared remarks: +3.62016 Q4 · Prepared remarks: +7.92017 Q1 · Prepared remarks: +5.52017 Q2 · Prepared remarks: +3.02017 Q3 · Prepared remarks: +7.62017 Q4 · Prepared remarks: +6.42018 Q1 · Prepared remarks: +10.82018 Q2 · Prepared remarks: +10.82018 Q3 · Prepared remarks: +12.42018 Q4 · Prepared remarks: +7.52019 Q1 · Prepared remarks: +5.22019 Q2 · Prepared remarks: +5.12019 Q3 · Prepared remarks: +4.02019 Q4 · Prepared remarks: +7.22020 Q1 · Prepared remarks: +4.12020 Q2 · Prepared remarks: -6.62020 Q3 · Prepared remarks: -7.82020 Q4 · Prepared remarks: -4.32021 Q1 · Prepared remarks: -3.82021 Q2 · Prepared remarks: +6.02021 Q3 · Prepared remarks: +8.52021 Q4 · Prepared remarks: +9.22022 Q1 · Prepared remarks: +9.62022 Q2 · Prepared remarks: +9.02022 Q3 · Prepared remarks: +8.02022 Q4 · Prepared remarks: +7.62023 Q1 · Prepared remarks: +8.72023 Q2 · Prepared remarks: +11.72023 Q3 · Prepared remarks: +13.42023 Q4 · Prepared remarks: +9.32024 Q1 · Prepared remarks: +12.42024 Q2 · Prepared remarks: +11.52024 Q3 · Prepared remarks: +7.22025 Q1 · Prepared remarks: +9.22025 Q2 · Prepared remarks: +7.02016 Q1 · Q&A responses: +1.12016 Q2 · Q&A responses: +1.92016 Q3 · Q&A responses: +0.02016 Q4 · Q&A responses: +0.02017 Q1 · Q&A responses: +0.52017 Q2 · Q&A responses: +4.92017 Q3 · Q&A responses: +4.02017 Q4 · Q&A responses: -2.32018 Q1 · Q&A responses: +5.72018 Q2 · Q&A responses: +8.92018 Q3 · Q&A responses: +0.02018 Q4 · Q&A responses: +12.02019 Q1 · Q&A responses: +6.52019 Q2 · Q&A responses: +1.92019 Q3 · Q&A responses: +7.02019 Q4 · Q&A responses: +9.62020 Q1 · Q&A responses: +13.62020 Q2 · Q&A responses: -3.32020 Q3 · Q&A responses: +3.92020 Q4 · Q&A responses: +5.72021 Q1 · Q&A responses: +1.82021 Q2 · Q&A responses: +4.12021 Q3 · Q&A responses: +4.32021 Q4 · Q&A responses: +4.62022 Q1 · Q&A responses: +4.62022 Q2 · Q&A responses: +12.72022 Q3 · Q&A responses: +2.22022 Q4 · Q&A responses: +8.12023 Q1 · Q&A responses: +18.02023 Q2 · Q&A responses: +18.42023 Q3 · Q&A responses: +15.82023 Q4 · Q&A responses: +6.22024 Q1 · Q&A responses: +16.32024 Q2 · Q&A responses: +11.52024 Q3 · Q&A responses: +7.82025 Q1 · Q&A responses: +7.62025 Q2 · Q&A responses: +5.4
Prepared remarksQ&A responses

Tone vs forward expectations

Management tone next to Wall Street's forward-looking numbers (glopardo): the 12-month forward EPS estimate and the forward P/E per call.

Forward EPS estimate

$9.08$25.91$42.742016 Q12017 Q22018 Q32019 Q42021 Q12022 Q22023 Q32025 Q12016 Q1: $11.402016 Q2: $12.282016 Q3: $12.732016 Q4: $12.522017 Q1: $12.952017 Q2: $13.362017 Q3: $13.592017 Q4: $13.742018 Q1: $16.802018 Q2: $16.902018 Q3: $16.822018 Q4: $17.122019 Q1: $18.112019 Q2: $19.932019 Q3: $21.942019 Q4: $21.792020 Q1: $21.022020 Q2: $11.462020 Q3: $11.852020 Q4: $12.442021 Q1: $14.152021 Q2: $15.702021 Q3: $17.122021 Q4: $17.252022 Q1: $18.592022 Q2: $20.702022 Q3: $21.972022 Q4: $22.952023 Q1: $24.572023 Q2: $27.912023 Q3: $31.252023 Q4: $33.672024 Q1: $34.512024 Q2: $37.382024 Q3: $40.42

Forward P/E

8.7430.1151.482016 Q12017 Q22018 Q32019 Q42021 Q12022 Q22023 Q32025 Q12016 Q1: 19.292016 Q2: 21.152016 Q3: 22.102016 Q4: 20.042017 Q1: 17.902017 Q2: 20.252017 Q3: 18.572017 Q4: 19.842018 Q1: 17.572018 Q2: 20.142018 Q3: 21.952018 Q4: 19.472019 Q1: 24.302019 Q2: 24.462019 Q3: 24.172019 Q4: 26.042020 Q1: 11.692020 Q2: 40.132020 Q3: 43.792020 Q4: 48.532021 Q1: 43.142021 Q2: 42.362021 Q3: 35.802021 Q4: 33.772022 Q1: 35.302022 Q2: 26.472022 Q3: 27.322022 Q4: 27.362023 Q1: 28.372023 Q2: 29.052023 Q3: 27.752023 Q4: 30.032024 Q1: 34.412024 Q2: 35.832024 Q3: 33.99

Divergence watch ⚑

Quarters where tone and the forward EPS estimate moved opposite ways.

  • 2016 Q3 tone ↓ -4.0 fwd EPS ↑ +0.46 Tone cooled even as the forward EPS estimate rose.
  • 2016 Q4 tone ↑ +2.3 fwd EPS ↓ -0.21 Tone rose while the forward EPS estimate was cut.
  • 2017 Q1 tone ↓ -2.5 fwd EPS ↑ +0.43 Tone cooled even as the forward EPS estimate rose.
  • 2019 Q1 tone ↓ -4.0 fwd EPS ↑ +0.99 Tone cooled even as the forward EPS estimate rose.
  • 2021 Q1 tone ↓ -2.2 fwd EPS ↑ +1.71 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q3 tone ↓ -5.8 fwd EPS ↑ +1.27 Tone cooled even as the forward EPS estimate rose.
  • 2023 Q4 tone ↓ -5.4 fwd EPS ↑ +2.42 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q2 tone ↓ -6.8 fwd EPS ↑ +2.88 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q22025-05-06+3.0——View →
2025 Q12025-02-04+6.3——View →
2024 Q32024-11-07+6.0$40.4234.0View →
2024 Q22024-05-07+4.9$37.3835.8View →
2024 Q12024-02-08+11.7$34.5134.4View →
2023 Q42023-11-09+6.1$33.6730.0View →
2023 Q32023-08-08+11.5$31.2527.8View →
2023 Q22023-05-09+11.0$27.9129.1View →