TransDigm Group Incorporated TDG reported first-quarter fiscal 2019 adjusted earnings of $3.85 per share, which surpassed the Zacks Consensus Estimate of $3.35 by 14.9%. However, the bottom line declined 31% from $5.58 registered a year ago.Barring one-time items, the company reported GAAP earnings of $3.05 per share compared with $4.65 in the year-ago quarter. The year-over-year bottom-line growth was driven by increase in net sales and improvements in operating margin resulting from continued productivity efforts.SalesNet sales amounted to $993.3 million, reflecting year-over-year growth of 17.1% from $848 million in the prior-year quarter. The reported figure also outpaced the Zacks Consensus Estimate of $947.5 million by 4.8%. Meanwhile, organic sales grew 11.6%.Decent sales growth in all major markets contributed to the company’s top-line performance in the quarter under review.Transdigm Group Incorporated Price, Consensus and EPS Surprise Transdigm Group Incorporated Price, Consensus and EPS Surprise | Transdigm Group Incorporated QuoteAcquisitionsTransDigm frequently acquires proprietary aerospace businesses with significant aftermarket content, which fortifies the company’s foothold in its core market and are in line with its operating strategies. Evidently, on Oct 9, 2018, TransDigm agreed to buy Esterline Technologies Corporation for $4 billion, with the transaction expected to be completed by March or April of 2019.We expect TransDigm’s acquisition spree to boost its product range with the proprietary products that enjoy strong position on high use of platforms, robust aftermarket content and an excellent reputation.Financial PositionTransDigm ended the first quarter of fiscal 2019 with cash and cash equivalents of $2,337.3 million, up from $2,073 million as of Dec 29, 2018. At the end of the reported quarter, the company’s long-term debt summed $12.5 billion, which came in line with the debt figure of fiscal 2018-end.Cash from operating activities amounted to $329.9 million as of Dec 29, 2018, compared with $292.8 million as of Dec 30, 2017.Fiscal 2019 OutlookTransdigm raised its 2019 financial guidance. Net sales are now anticipated in the range of $4,145-$4,235 million compared with the prior guidance of $4,125-4,215 million.Net income from continuing operations are now projected in the range of $855-$893 million compared with $843-$881 million projected earlier.Adjusted earnings per share are currently expected to be $16.42-$17.10 compared with $15.92-$16.60 guided earlier.Zacks RankTransdigm currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Recent Defense ReleasesSpirit AeroSystems Holdings SPR reported fourth-quarter 2018 adjusted earnings of $1.85 per share, which surpassed the Zacks Consensus Estimate of $1.78 by 4%.Raytheon Company RTN reported fourth-quarter 2018 earnings per share (EPS) of $2.93 from continuing operations, outpacing the Zacks Consensus Estimate of $2.89 by 1.4%. The bottom-line figure also improved a massive 117% from the year-ago quarter’s figure of $1.35.The Boeing Company BA reported adjusted earnings of $5.48 per share for fourth-quarter 2018, beating the Zacks Consensus Estimate of $4.52 by 21.2%. The bottom line reflected an improvement of 8% from $5.07 registered in the year-ago quarter.Zacks' Top 10 Stocks for 2019In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-holds for the year?Who wouldn't? Our annual Top 10s have beaten the market with amazing regularity. In 2018, while the market dropped -5.2%, the portfolio scored well into double-digits overall with individual stocks rising as high as +61.5%. And from 2012-2017, while the market boomed +126.3, Zacks' Top 10s reached an even more sensational +181.9%.See Latest Stocks Today >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Boeing Company (BA): Get Free Report Spirit Aerosystems Holdings, Inc. (SPR): Get Free Report Transdigm Group Incorporated (TDG): Get Free Report Raytheon Company (RTN): Get Free Report To read this article on Zacks.com click here. Zacks Investment Research