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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 Q3 FY2025 results with net sales of $315.6 million, representing 11% growth. Operating income reached $39.3 million with a 12% margin, while adjusted operating income was $45.7 million with a 14% margin. The company achieved $0.19 EPS, or $0.27 adjusted.
Notable performance includes 36% growth in commercial and military aftermarket sales and 24% growth in military OEM sales. Commercial OEM sales decreased 11.8% due to Boeing 737MAX program work stoppage. The company generated $33.1 million in operating cash flow and maintained a backlog of $1.87 billion.
On February 3, 2025, Triumph announced a definitive agreement to be acquired by Warburg Pincus and Berkshire Partners for an enterprise value of approximately $3 billion. The transaction is expected to close in H2 2025, subject to shareholder and regulatory approvals.
Triumph Group (NYSE: TGI) has announced a definitive agreement to be acquired by private equity firms Warburg Pincus and Berkshire Partners in an all-cash transaction valued at approximately $3 billion. Shareholders will receive $26.00 per share, representing a 123% premium over the unaffected closing stock price and a 58% premium over the 90-day VWAP prior to January 31, 2025.
Upon completion of the transaction, expected in the second half of 2025, Triumph will become a privately held company and will be delisted from the NYSE. The deal has received unanimous approval from Triumph's Board of Directors and is subject to shareholder and regulatory approvals. The transaction is not contingent upon financing.
The company will release its third quarter fiscal 2025 earnings and file Form 10-Q by February 10, 2025, but has cancelled its previously scheduled earnings conference call.
Triumph Group (NYSE: TGI) has announced it will release its third quarter fiscal year 2025 earnings on February 10, 2025, followed by a conference call at 8:30 a.m. ET. The presentation will include slides and will be accessible via webcast.
The company will provide a replay option available for 90 days for those unable to attend the live broadcast. Triumph Group, based in Radnor, Pennsylvania, specializes in designing, developing, manufacturing, repairing, and overhauling aerospace and defense systems and components, serving both original equipment manufacturers and military and commercial aircraft operators.
Triumph Group (NYSE: TGI) has achieved record aftermarket shipments of over $28M in its fiscal year to date, supporting Boeing 787 and Airbus A380 landing gear overhaul activities. The company designs and services complete landing gear hydraulic actuation systems for both aircraft models.
As early B787 production units reach their 12-year service mark, mandatory heavy landing gear overhaul requirements are triggering increased demand. Over 500 aircraft are expected to undergo landing gear maintenance in the next 5 years. The company is also benefiting from expanded A380 platform usage due to increasing commercial air traffic.
TRIUMPH anticipates continued growth driven by these higher-margin aftermarket work packages and rising Boeing 787 OEM ramp rates. The company has invested in additional MRO capacity to support customer landing gear maintenance cycles.
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.
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