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  • Goodrich Boosts Aftermarket Sales
    Posted by Lee Ann Tegtmeier 2:01 PM on Jul 21, 2011

    Goodrich grew its second quarter commercial aftermarket sales by 16% in the second quarter. This follows "an acceleration of the very good growth we experienced during the first quarter 2011. We now expect commercial aftermarket sales to increase by about 13% this year," says Marshall Larsen, chairman, president and CEO in a press release. Of the 16% increase, Goodrich says 14% was organic growth.

    The company includes major airline, regional airline, business aircraft and general aviation aircraft in this bucket, with the major airline part growing 6% in the period.

    Goodrich's original equipment sales also grew more in the second quarter compared to the first. "Our 17% second quarter growth rate was indicative of the positive impact of the production rate increase announced by the aircraft manufacturers over the last two years," says Larsen. He says Goodrich forecasts a 15% growth rate for the year in this segment.

    Wedbush analyst Kenneth Herbert says Goodrich's 16% growth in the aftermarket was higher than its estimate of 13%. "We remain very encouraged by the company's positive results in the quarter, and we continue to view Goodrich as a core holding for investors as they look to play both the recovery in commercial aftermarket, commercial OE and business jet market," says Herbert.

    Tags: om99, Goodrich

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