Triumph (TGI)

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Triumph (TGI) - 2025 Q1 - Earnings Call Transcript
2024-08-07 14:24
Financial Data and Key Metrics Changes - Triumph Group reported a revenue of $281 million for Q1 2025, reflecting a year-over-year increase of 7% or $17 million [11] - Adjusted operating income rose by 23% to $16 million, with an adjusted operating margin of 6%, up 80 basis points from the previous year [11] - Aftermarket revenue constituted 33% of total revenue, increasing from 27% in Q1 of the previous year, and accounted for 73% of the profit in the quarter [11][12] Business Line Data and Key Metrics Changes - Aftermarket sales surged by 27% year-over-year, driven by increased demand for spares and repairs, particularly for the Boeing 737 and Airbus A320 fleets [5][6] - Military aftermarket revenue increased by 11% to $41 million, while military OEM revenue experienced a slight decline [13] - Commercial aftermarket revenue rose by 43%, largely due to legacy 737 spares and repairs, while commercial OEM revenue was slightly up at $119 million [12] Market Data and Key Metrics Changes - Triumph's total backlog increased by 11% year-over-year to $1.9 billion, with a stable sequential backlog despite some order delays [18] - The commercial single-aisle backlog remained flat, while twin-aisle backlog grew by 42% year-over-year, driven by 787 and 777 orders [18] - The company anticipates strong aftermarket demand to continue through the end of the decade, supported by a growing installed base of proprietary products [17] Company Strategy and Development Direction - Triumph is focused on a pivot to systems and IP-based aftermarket services following the divestiture of its product support business, aiming to capitalize on strong aftermarket demand [8] - The company is preparing for an anticipated aerospace and defense industry super cycle, leveraging its diversified customer base and end markets [8] - Triumph is committed to enhancing shareholder value through operational improvements, product portfolio investments, and maintaining a strong balance sheet [24] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about long-term demand, reinforced by positive feedback from the recent Farnborough International Airshow [16] - The company expects continued improvement in financial performance as it navigates through near-term OEM headwinds, with aftermarket sales driving profitability [23] - Management remains confident in achieving full-year financial objectives despite challenges in the interiors business and supply chain issues [15][23] Other Important Information - Triumph redeemed $120 million of first lien notes, reducing net debt to $821 million, with liquidity totaling $203 million [14] - A cybersecurity incident was reported, but management believes it will not materially impact financial results [22] Q&A Session All Questions and Answers Question: Can you walk us through the expected positive cash flow in the second half of the year? - Management indicated that strong performance in actuation and engine controls, along with anticipated increases in aftermarket sales, will contribute to positive cash flow in the second half [25][26] Question: What volume is needed for the MAX to achieve positive EBITDAP in interiors? - Management stated that achieving positive EBITDAP in interiors requires installation rates to increase to around 30 shipsets per month, with current production at 12 to 14 [29][30] Question: How is the company addressing the impact of the V-22 crash? - Management clarified that the crash was unrelated to Triumph's hardware, but acknowledged it could affect OEM deliveries and aftermarket sales [53] Question: How is Triumph preparing for potential strikes at Boeing? - Management noted that they have contingency plans in place and do not anticipate significant disruptions, as Boeing has been responsible in managing production rates [55] Question: Can you provide details on Triumph's electric aircraft gearbox development? - Management described ongoing projects for electric regional jets, emphasizing the importance of gearboxes in connecting electric motors to propellers [57][59]
Triumph (TGI) - 2025 Q1 - Quarterly Results
2024-08-07 12:22
Exhibit 99.1 NEWS RELEASE Contact: Kyle Beeson Director, Communications Phone (610) 251-1000 kbeeson@triumphgroup.com Thomas A. Quigley, III Vice President, Investor Relations, Mergers & Acquisitions and Treasurer Phone (610) 251-1000 tquigley@triumphgroup.com TRIUMPH REPORTS FIRST QUARTER FISCAL 2025 RESULTS RADNOR, Pa. – August 7, 2024 – Triumph Group, Inc. (NYSE: TGI) ("TRIUMPH" or the "Company") today reported financial results for its first quarter of fiscal 2025, which ended June 30, 2024. First Quart ...
Triumph Group (TGI) Reports Q1 Loss, Tops Revenue Estimates
ZACKS· 2024-08-07 12:20
Triumph Group (TGI) came out with a quarterly loss of $0.06 per share versus the Zacks Consensus Estimate of a loss of $0.03. This compares to loss of $0.10 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -100%. A quarter ago, it was expected that this aircraft supplier would post earnings of $0.12 per share when it actually produced earnings of $0.31, delivering a surprise of 158.33%. Over the last four quarters, the company ...
TRIUMPH REPORTS FIRST QUARTER FISCAL 2025 RESULTS
Prnewswire· 2024-08-07 10:00
RADNOR, Pa., Aug. 7, 2024 /PRNewswire/ -- Triumph Group, Inc. (NYSE: TGI) ("TRIUMPH" or the "Company") today reported financial results for its first quarter of fiscal 2025, which ended June 30, 2024. First Quarter Fiscal 2025 Net sales of $281.0 million; sales growth of 7% Operating income of $8.1 million with operating margin of 3%; adjusted operating income of $17.2 million with adjusted operating margin of 6% Net loss from continuing operations of ($18.8) million, or $(0.24) per share; adjusted net loss ...
TRIUMPH EXTENDS F-35 SUSTAINMENT AGREEMENT WITH LOCKHEED MARTIN
Prnewswire· 2024-08-06 17:03
RADNOR, Pa., Aug. 6, 2024 /PRNewswire/ -- Triumph Group, Inc. (TRIUMPH) [NYSE: TGI] today announced that its Actuation Products & Services business extended their repair and technical support agreement with Lockheed Martin as part of the F-35 Joint Strike Fighter fleet readiness support. TRIUMPH's Clemmons, North Carolina facility will provide engineering and material support for the program over the next five years. TRIUMPH has provided original equipment and aftermarket Hydraulic Utility Actuation Valves ...
Triumph Financial Appoints Mitchell Lee as Chief Risk & Compliance Officer
GlobeNewswire News Room· 2024-07-30 20:35
DALLAS, July 30, 2024 (GLOBE NEWSWIRE) -- Triumph Financial, Inc. (Nasdaq: TFIN) is pleased to announce today the appointment of Mitchell Lee as chief risk and compliance officer. In his new role, Lee will be responsible for providing strategic oversight of the company's enterprise risk and compliance efforts. This includes driving the ongoing development of a comprehensive enterprise risk management framework across all divisions of Triumph Financial including TriumphPay, Triumph and TBK Bank. Schreyer sta ...
TRIUMPH to Webcast First Quarter Fiscal Year 2025 Earnings Conference Call
Prnewswire· 2024-07-23 20:33
Live Webcast scheduled for 8:30 AM ET on August 7, 2024 RADNOR, Pa., July 23, 2024 /PRNewswire/ -- Triumph Group, Inc. (NYSE: TGI) will release first quarter fiscal year 2025 earnings on August 7, 2024, and will host a conference call that day at 8:30 a.m. ET. A slide presentation will be included with the audio portion of the webcast. What: TRIUMPH First Quarter Fiscal Year 2025 Earnings Conference Call When: 8:30 a.m. ET on Wednesday, August 7, 2024 Where: http://www.triumphgroup.com How: Go to the web si ...
TRIUMPH ANNOUNCES NEW LEADERS TO ACCELERATE ITS PROFITABLE GROWTH
Prnewswire· 2024-07-19 13:00
"TRIUMPH has recruited and developed a strong bench of experienced and diverse talent, and the internal promotion of Mike Boland to the COO role reflects this depth and our commitment to take the company's operational performance to the next level. Mike's track record of improving our Actuation business financial performance and expanding its aftermarket offerings will now benefit the larger TRIUMPH. Similarly, Natasha Trudeau's accomplishments as General Manager of our APS Yakima site, and prior leadership ...
Triumph Financial Releases Second Quarter 2024 Financial Results
GlobeNewswire News Room· 2024-07-17 20:07
DALLAS, July 17, 2024 (GLOBE NEWSWIRE) -- Triumph Financial, Inc. (Nasdaq: TFIN) has released its second quarter 2024 financial results. The 2Q 2024 financial results and shareholder letter are available on the Company's website at tfin.com through the News & Events, Events & Presentations links. Aaron P. Graft, Vice Chairman & CEO, and Brad Voss, CFO, will review the financial results in a conference call with investors and analysts beginning at 9:30 a.m. central time on Thursday, July 18, 2024. The live v ...
TRIUMPH AWARDED F404 AUXILIARY GEARBOX FROM GE AEROSPACE
Prnewswire· 2024-07-17 13:00
RADNOR, Pa., July 17, 2024 /PRNewswire/ -- Triumph Group, Inc., (TRIUMPH) [NYSE:TGI] today announced its Geared Solutions business has been awarded a contract to provide the Auxiliary Gearbox from GE Aerospace for the F404 afterburning turbofan engine with potential future use on multiple applications, including the T7-A, T-50, and TAI Hurjet platforms. TRIUMPH is a long-standing engineering and manufacturing partner with GE on military and commercial gearbox applications. This work will be performed at TRI ...