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Triumph Group, Inc. (NYSE: TGI), headquartered in Radnor, Pennsylvania, is a global leader in manufacturing and overhauling aerospace structures, systems, and components. With operations spanning 70 locations worldwide, Triumph designs, engineers, manufactures, repairs, and overhauls a wide range of aerostructures, aircraft components, accessories, subassemblies, and systems. The company's extensive operations are organized into three primary groups: Aerostructures, Aerospace Systems, and Aftermarket Services.
Triumph serves a broad spectrum of the aviation industry, including original equipment manufacturers (OEMs) of commercial, business, and military aircraft and aircraft components, as well as commercial airlines and air cargo carriers. The company’s involvement in the aerospace supply chain ranges from single components to complex aerostructures and systems, touching virtually all major players and aviation platforms.
In recent developments, Triumph has been focusing on improving its financial condition and strategic positioning. The company successfully completed the sale of its Product Support business to AAR CORP. for $725 million, using the proceeds primarily for debt reduction. This divestiture is part of Triumph's strategy to streamline its operations and focus on its core competencies in aerospace and defense systems and components.
Triumph's Geared Solutions business recently secured a long-term agreement from MD Helicopters to manufacture and assemble main rotor gearbox transmissions for the MD500 platforms. This contract extension reflects Triumph’s enduring partnerships and its role in supporting both commercial and military aviation sectors.
The company continues to innovate and expand its product offerings, with over 60% of its products and services now based on Triumph intellectual property. This strategic shift positions Triumph for growth in the expanding markets it serves, supported by a strong backlog and a focus on capturing new business opportunities.
For the fiscal year ending March 31, 2024, Triumph reported positive financial results, achieving its strongest margins of the year and generating positive free cash flow. The company has also updated its financial guidance for fiscal 2024, reflecting the impacts of the recent divestiture and improved operational efficiencies.
Triumph Group (NYSE: TGI) reported strong Q2 FY2025 results with net sales of $287.5 million, representing 1% growth. The company achieved operating income of $32.4 million with 11% margin, and net income from continuing operations of $11.9 million ($0.15 per share). Commercial aftermarket sales grew by 34%, offsetting OEM and supply chain challenges.
Based on strong performance, TRIUMPH raised its FY2025 guidance, projecting net sales of $1.2 billion, operating income of $140.5-145.5 million, and free cash flow of $20-30 million. The company's backlog stands at $1.90 billion, showing increases across all end markets.
Triumph Group (NYSE: TGI) has postponed its Q2 FY2025 earnings release and investor call from November 4 to November 12, 2024, following a favorable pricing settlement with Boeing Commercial Airplanes for its Interiors contracts. The delay will allow time to finalize the accounting for this agreement. The company anticipates updating its fiscal year 2025 guidance based on this new development.
Triumph Group, Inc. (NYSE: TGI) has announced its upcoming second quarter fiscal year 2025 earnings release and conference call. The event is scheduled for November 4, 2024, with the earnings release followed by a conference call at 8:30 a.m. ET. The company will provide a slide presentation along with the audio webcast.
Interested parties can access the webcast through Triumph's website, with registration and software installation recommended at least fifteen minutes before the call. For those unable to attend live, a replay will be available two hours after the call and remain accessible for 90 days.
Triumph Group, based in Radnor, Pennsylvania, specializes in designing, developing, manufacturing, repairing, and overhauling a wide range of aerospace and defense systems, subsystems, and components. The company serves the global aviation industry throughout the aircraft lifecycle.
Triumph Group (NYSE:TGI) has announced the election of Mark C. Cherry to its Board of Directors as an independent director. Cherry, currently the CEO of Align Precision Group, brings extensive aerospace experience from his previous roles at Boeing, Aurora Flight Sciences, and Sikorsky Aircraft. His appointment is expected to benefit TRIUMPH's customers and shareholders, leveraging his in-depth understanding of customer platforms and broad aerospace product development expertise.
Daniel J. Crowley, TRIUMPH's President, CEO & Chairman, expressed confidence that Cherry's expertise will help accelerate the company's profitable growth. Neal Keating, Lead Independent Director, highlighted Cherry's attributes as contributing to the Board's goal of driving long-term growth and value for stakeholders.
VSE (NASDAQ: VSEC) has announced two key executive appointments. Adam Cohn will join as Chief Financial Officer on September 3, 2024, bringing over 15 years of aerospace and finance experience. He will oversee VSE's financial strategies and lead the global finance organization. Garry Snow will assume the newly created role of Chief Growth Officer on September 16, 2024, leveraging his expertise from Boeing, KLX Inc., and Satair to support future organic growth strategies.
These appointments aim to strengthen VSE's leadership team and drive financial performance and growth. The company's CEO, John Cuomo, expressed confidence in both executives' abilities to contribute to VSE's transformation and market expansion in the aerospace industry.
Triumph Group (NYSE: TGI) reported its Q1 fiscal 2025 results, showing 7% sales growth to $281.0 million. The company achieved its ninth consecutive quarter of year-over-year sales growth, driven by a 42% increase in commercial aftermarket sales. However, Triumph faced challenges, including a net loss of $18.8 million ($0.24 per share) and free cash use of $112.7 million.
Despite these challenges, Triumph maintained its fiscal 2025 guidance, projecting net sales of approximately $1.2 billion and adjusted EBITDAP of $182.0 million. The company also retired $120.0 million of debt, strengthening its balance sheet and earning credit upgrades from rating agencies.
Triumph Group, Inc. (NYSE: TGI) has extended its repair and technical support agreement with Lockheed Martin for the F-35 Joint Strike Fighter program. The company's Actuation Products & Services business in Clemmons, North Carolina, will provide engineering and material support for the next five years. TRIUMPH has been supplying Hydraulic Utility Actuation Valves (HUAV) for the F-35 since 2014 and began providing aftermarket parts for military depot operations in 2021. This extension showcases TRIUMPH's technical capability in high-demand depot settings, particularly at MCAS Cherry Point.
The agreement reflects TRIUMPH's growing presence in the military aftermarket. As a market leader in hydraulic power generation and actuation, TRIUMPH aims to provide exceptional service to Lockheed Martin and its customers. The company operates six manufacturing sites across North America and Europe, serving the global aviation industry with a broad portfolio of aerospace and defense systems and components.
Triumph Group (NYSE: TGI) has announced its upcoming first quarter fiscal year 2025 earnings release and conference call, scheduled for August 7, 2024. The company will host a webcast at 8:30 AM ET to discuss the results, with a slide presentation accompanying the audio portion. Investors and interested parties can access the webcast through Triumph's website, where a replay will be available for 90 days after the call.
Triumph Group, based in Radnor, Pennsylvania, is a key player in the aerospace and defense industry. The company specializes in designing, manufacturing, repairing, and overhauling a wide range of aerospace and defense systems, subsystems, and components. Triumph serves global aviation customers, including original equipment manufacturers and aircraft operators, throughout the entire aircraft lifecycle.
TRIUMPH Group, Inc. (NYSE:TGI) has announced key leadership changes to drive profitable growth. Mike Boland, former President of Actuation Products and Services (APS), has been appointed to the newly created role of Chief Operating Officer. He will oversee Operations, Quality, Execution Assurance, and the TRIUMPH Operating System, as well as the Supply Chain function.
Natasha Trudeau, previously General Manager of TRIUMPH APS in Yakima, Washington, has been promoted to President of Actuation Products and Services. These internal promotions reflect TRIUMPH's commitment to developing talent and improving operational performance. The company aims to enhance customer satisfaction, product quality, and cost-effectiveness while strengthening its market position in aerospace and defense systems.
TRIUMPH Group, Inc. (NYSE:TGI) has secured a contract from GE Aerospace to provide the Auxiliary Gearbox for the F404 afterburning turbofan engine. This component has potential future applications in multiple platforms, including the T7-A, T-50, and TAI Hurjet. The work will be carried out at TRIUMPH's facility in Macomb, Michigan.
TRIUMPH, a long-standing partner of GE Aerospace, specializes in designing and manufacturing complex aerospace gearing components and integrated gearboxes for various aircraft applications. This sole-source award strengthens their partnership and supports GE Aerospace's engine applications for both legacy fleets and new aircraft.
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