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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, 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.
Triumph Group (NYSE: TGI) announced that both Moody's and S&P Global Ratings have upgraded the company's credit ratings, with Moody's increasing the corporate family rating to B3 from Caa1 and S&P Global Ratings upgrading the issuer credit rating to B- from CCC+. The upgrades were attributed to Triumph's reduced leverage resulting from the full repayment of its 2025 notes and partial repayment of its 2028 notes, as well as favorable market conditions. Both agencies have given the company a stable outlook. Triumph has focused on strategic actions over the past year to streamline operations and fortify its balance sheet, aiming for long-term targets in debt reduction, EBITDAP margin expansion, and free cash flow generation.
Triumph Group (NYSE: TGI) announced fourth-quarter fiscal 2024 results with net sales of $358.6 million, showing an 11% organic sales growth.
Operating income was $44.8 million, with an operating margin of 12.5%, and adjusted operating income stood at $55.8 million (15.6% margin).
Net income from continuing operations was $5.5 million ($0.07 per share), while adjusted net income was $23.3 million ($0.31 per share).
For fiscal year 2024, net sales reached $1.19 billion with a 13% organic sales growth. The company reported a net loss of $34.5 million, or $(0.46) per share, but an adjusted net loss of $4.4 million, or $(0.06) per share.
Triumph's guidance for fiscal 2025 includes expected net sales of $1.2 billion, operating income of $140 million, adjusted EBITDAP of $182 million, earnings per share of $0.42, and free cash flow between $10 million to $25 million.
The company highlighted strategic actions, including the sale of a third-party Product Support MRO business and debt reduction, as well as significant new business captures, reflected in a 22% backlog increase year-over-year.
Triumph Group, Inc. (NYSE: TGI) will hold a webcast for their fourth quarter fiscal year 2024 earnings conference call on May 23, 2024, at 8:30 AM ET. The company, based in Radnor, Pennsylvania, specializes in aerospace and defense systems design, development, manufacturing, repair, and overhaul.
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