Precision Castparts Corp.'s (PCP) fiscal second-quarter earnings jumped 28% as the cast-metal-parts maker reported double-digit revenue growth in its forged products and air-frame products segments.

Precision Castparts, which makes metal forgings and castings for airplanes and gas turbines, has posted quarterly revenue gains for more than three years, buoyed by an overall improvement in the aerospace, power and general-industrial markets. The company has also become acquisitive in recent months, unveiling deals for metal products company Titanium Metals Corp., Swedish ball-bearing maker SKF AB's (SKF-B.SK) metallic-rods business and aerospace-fluid-fittings maker Permaswage Holding SAS.

The company said its latest results were driven by solid commercial aerospace demand, steady recovery in power markets, gains from its TIMET business and operational improvements.

For the quarter ended Sept. 29, Precision Castparts reported a profit of $424 million, or $2.89 a share, up from $332 million, or $2.27 a share, a year earlier. Earnings from continuing operations were $2.90 a share in the latest period. Sales were up 23% to $2.36 billion.

Analysts polled by Thomson Reuters had most recently forecast earnings from continuing operations of $2.83 a share on revenue of $2.36 billion.

Sales in its forged products segment--the largest top-line contributor--climbed 39% to $1.06 billion. Airframe-products sales were up 25%. Sales of investment cast products were roughly flat from the year earlier.

Total costs and expenses increased 21%.

Shares closed at $246.16 and were inactive premarket. The stock is up 30% since the start of the year.