Group 1 - Triumph Group, Inc. has extended its repair and technical support agreement with Lockheed Martin for the F-35 Joint Strike Fighter fleet, which will last for the next five years [1][2] - The Clemmons, North Carolina facility of Triumph will provide engineering and material support as part of this agreement, showcasing the company's technical capabilities in high-demand depot settings [2][3] - Triumph has been supplying Hydraulic Utility Actuation Valves (HUAV) for the F-35 program since 2014 and began providing aftermarket parts for military depot operations in 2021 [2][3] Group 2 - The company is recognized as a market leader in hydraulic power generation and actuation, with a commitment to exceptional service for Lockheed Martin and its customers [3] - Triumph Actuation Products & Services offers integrated solutions in design, development, manufacture, and support of complex hydraulic, electro-mechanical, and mechanical actuation components for the aerospace and defense industry [3][4] - Triumph Group serves the global aviation industry, including original equipment manufacturers and military and commercial aircraft operators [4]

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 ...

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 ...

Core Viewpoint - Triumph Financial, Inc. has announced its second quarter 2024 financial results, with a conference call scheduled for July 18, 2024, to discuss these results with investors and analysts [1][2]. Company Overview - Triumph Financial, Inc. is a financial holding company based in Dallas, Texas, focusing on payments, factoring, and banking. Its portfolio includes brands such as TriumphPay, Triumph, and TBK Bank [3]. Conference Call Details - The conference call will be led by Vice Chairman & CEO Aaron P. Graft and CFO Brad Voss, starting at 9:30 a.m. central time on July 18, 2024 [1]. - Investors can access the live video conference through a specific link or by visiting the company's website. A dial-in option is also available for those who prefer to join via phone [2]. Additional Information - An archive of the conference call will be made available on the company's website after the event [2].

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 ...

"TRIUMPH took important strategic actions over the last year to create a more streamlined, value-added and IP-based business with a much stronger balance sheet," said Jim McCabe, TRIUMPH's senior vice president and chief financial officer. "These upgrades recognize our commitment to increasing shareholder value through the cycle of deleveraging benefits, supporting our multi-year targets for debt reduction, EBITDAP margin expansion, and free cash flow generation." Statements in this release which are not hi ...

ilbusca Triumph Financial Results Asset and Borrowing Yields 10% 9% 8% 7% 6% 5% 4% 3% 2% 1% -0% Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q4 2020 Q3 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q2 2023 Q3 2023 Q4 2023 Q1 2023 Q1 2024 Asset Yield Borrowing Yield Bank Financials Despite the higher borrowing yields, Triumph Financial's interest expense declined in the first quarter. The bank's interest income did ease back, which led to the slight decline in net interest income (i ...

Company Overview - Triumph Group (TGI) is expected to report a quarterly loss of $0.03 per share, reflecting a year-over-year change of +70% [1] - Revenues for Triumph Group are anticipated to be $269.91 million, which is a decrease of 17.5% compared to the same quarter last year [1] - The consensus EPS estimate for Triumph Group has been revised 139.1% lower over the last 30 days [3] Stock Performance - Triumph Group shares increased by 7.3% to $15.10 in the last trading session, with a notable volume of shares traded [5] - The stock has gained 6.1% over the past four weeks [5] - Triumph Group currently holds a Zacks Rank of 3 (Hold) [2][4] Industry Context - Triumph Group operates within the Zacks Aerospace - Defense Equipment industry [7] - Boeing is reallocating engineers from its X-66A project to support the development of commercial programs, which has positively impacted TGI's share price [2] - Kratos (KTOS), another company in the same industry, closed 2.4% higher at $20.65, but has seen a -4.9% return over the past month [7]

C.H. Robinson will join the TriumphPay Network, a platform that connects brokers, shippers, factors and carriers for a streamlined payment experience. This collaboration provides the foundation for delivering new solutions and financial benefits to carriers at a scale never seen before. TriumphPay provides innovative payment processing solutions tailored for the transportation industry, empowering freight brokers to achieve heightened operational efficiency, improved financial transparency and enhanced risk ...

Part I [Business](index=5&type=section&id=Item%201.%20Business) Triumph Group designs, manufactures, and repairs aerospace and defense systems, significantly reducing debt after a major divestiture [Products and Services](index=5&type=section&id=Products%20and%20Services) - The company operates through two segments: Triumph Systems & Support (proprietary components, subsystems, complex assemblies) and Triumph Interiors (insulation, ducting, interior components)[10](index=10&type=chunk) Systems & Support Product Examples | Category | Products | | :--- | :--- | | **Drives & Controls** | Aircraft and engine-mounted accessory drives, Geared transmissions, Main engine gear box assemblies | | **Actuation & Power** | High lift and utility actuation, Hydraulic systems and components, Landing gear actuation systems | | **Fuel & Thermal** | Electronic engine controls, Main fuel pumps, Thermal control systems and components | [Backlog](index=6&type=section&id=Backlog) Backlog Comparison (in billions) | Date | Systems & Support | Interiors | Total Backlog | | :--- | :--- | :--- | :--- | | **March 31, 2024** | $1.56 | $0.34 | $1.90 | | **March 31, 2023** | $1.29 | $0.26 | $1.55 | - The total backlog increased by **22.6%** year-over-year. Of the **$1.90 billion** backlog at March 31, 2024, approximately **$1.15 billion** is expected to be shipped by March 31, 2025[21](index=21&type=chunk) [Dependence on Significant Customers](index=7&type=section&id=Dependence%20on%20Significant%20Customers) - A significant portion of the company's net sales are to The Boeing Company. A significant reduction in sales to Boeing could materially and adversely impact Triumph's financial position and results[22](index=22&type=chunk) [Human Capital Resources](index=9&type=section&id=Human%20Capital%20Resources) - As of March 31, 2024, **approximately 10%** of the company's **4,530 permanent employees** are represented by labor unions[42](index=42&type=chunk) Employee Safety Metrics (Calendar Year) | Safety Metric | 2023 | 2022 | 2021 | | :--- | :--- | :--- | :--- | | **TRIR** | 0.8 | 1.2 | 1.8 | | **DART** | 0.2 | 0.5 | 1.0 | [Recent Developments](index=13&type=section&id=Recent%20Developments) - In December 2023, Triumph agreed to sell its Product Support MRO business to AAR CORP. The sale closed on March 1, 2024, resulting in a recognized gain of **approximately $548.3 million**. The results of this business are now classified as discontinued operations[56](index=56&type=chunk)[57](index=57&type=chunk) - Following the divestiture, the company used the proceeds to reduce long-term debt by **approximately $556.7 million** in March 2024 through redemptions of its 2028 First Lien Notes and 2025 Notes[58](index=58&type=chunk) - On May 30, 2024, the company completed an additional redemption of **$120.0 million** of its 2028 First Lien Notes[59](index=59&type=chunk) [Risk Factors](index=15&type=section&id=Item%201A.%20Risk%20Factors) The company faces strategic, operational, financial, and legal risks including industry cyclicality, customer dependence, debt, and regulatory compliance - **Strategic Risks:** The business is highly dependent on the commercial aerospace market, which is cyclical, and on U.S. government defense spending, which can be unpredictable. A significant portion of net sales is to Boeing, making the company vulnerable to reductions in Boeing's purchases[63](index=63&type=chunk)[65](index=65&type=chunk)[74](index=74&type=chunk) - **Operational Risks:** The company is exposed to cybersecurity threats, relies on single-source suppliers for some essential raw materials, and faces potential liabilities from product warranties and claims related to past divestitures[86](index=86&type=chunk)[90](index=90&type=chunk)[95](index=95&type=chunk) - **Financial Risks:** The company's debt imposes significant operating and financial restrictions. Market volatility could impede access to capital, and high inflation poses a risk to profitability on fixed-price contracts[107](index=107&type=chunk)[110](index=110&type=chunk)[113](index=113&type=chunk) - **Legal & Compliance Risks:** The aerospace industry is highly regulated by the FAA and other agencies. The company must also comply with U.S. export control laws (ITAR, EAR) and faces potential liabilities from environmental regulations[115](index=115&type=chunk)[118](index=118&type=chunk)[119](index=119&type=chunk) [Cybersecurity](index=30&type=section&id=Item%201C.%20Cybersecurity) Triumph's cybersecurity program, overseen by the Audit Committee, integrates into enterprise risk management, with no material incidents reported to date - The Board of Directors has delegated oversight of cybersecurity risks to the Audit Committee, which receives quarterly updates from the CAO and CISO[135](index=135&type=chunk) - The company utilizes a Computer Security Incident Response Team (CSIRT) and an Incident Response Plan, conducting periodic "tabletop" exercises to test preparedness[130](index=130&type=chunk)[131](index=131&type=chunk) - The company has not identified any cybersecurity threats or incidents that have materially affected or are reasonably likely to materially affect the company[134](index=134&type=chunk) [Legal Proceedings](index=32&type=section&id=Item%203.%20Legal%20Proceedings) Triumph is vigorously defending two significant lawsuits from divestiture buyers, seeking damages for alleged breach of contract and undisclosed issues - Daher, buyer of the Stuart facility, is suing for **approximately $130.0 million** in damages, alleging failure to disclose paint, supplier, and production issues[139](index=139&type=chunk)[140](index=140&type=chunk) - Qarbon, buyer of the Red Oak facility, is suing for breach of contract and fraudulent inducement related to alleged undisclosed future losses on the Boeing T-7A program[142](index=142&type=chunk) - The company disputes the claims in both lawsuits and intends to vigorously defend itself, noting that potential losses cannot be reasonably estimated at this time[141](index=141&type=chunk)[143](index=143&type=chunk) Part II [Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities](index=34&type=section&id=Item%205.%20Market%20for%20Registrant%27s%20Common%20Equity%2C%20Related%20Stockholder%20Matters%2C%20and%20Issuer%20Purchases%20of%20Equity%20Securities) Triumph's common stock trades on NYSE, with its dividend program suspended since March 2020 and no recent share repurchases - The company's dividend program was suspended in March 2020 and remains suspended, with no dividends paid in fiscal 2024 or 2023[149](index=149&type=chunk) 5-Year Cumulative Total Return Comparison | Index | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **Triumph Group, Inc.** | $100.00 | $35.73 | $97.15 | $133.63 | $61.26 | $79.50 | | **Russell 1000** | $100.00 | $91.97 | $147.70 | $167.30 | $153.26 | $199.03 | | **S&P Aerospace & Defense** | $100.00 | $73.62 | $102.91 | $117.68 | $122.55 | $135.51 | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=36&type=section&id=Item%207.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) FY2024 net sales rose 5.4% to $1.19 billion, driven by aftermarket growth, while net income reached $512.4 million due to a divestiture gain and improved cash flow [Overview](index=36&type=section&id=Overview) - The sale of the Product Support business closed on March 1, 2024, resulting in a gain of **approximately $548.3 million**. This business is now reported as discontinued operations[158](index=158&type=chunk) FY 2024 Key Financial Results | Metric | Value | | :--- | :--- | | Net Sales | $1.19 billion (+5.4% YoY) | | Operating Income | $86.5 million | | Loss from Continuing Operations | $(34.5) million | | Net Income (incl. discontinued ops) | $512.4 million | | Backlog (continuing ops) | $1.90 billion (+22% YoY) | | Cash Flow from Operations | $9.4 million | - The Boeing 737 program represented **approximately 14%** of net sales for fiscal year 2024, up from **10%** in fiscal 2023[165](index=165&type=chunk) [Results of Operations](index=38&type=section&id=Results%20of%20Operations) Net Sales by End Market (FY2024 vs. FY2023, in thousands) | End Market | FY 2024 | FY 2023 | | :--- | :--- | :--- | | Commercial OEM | $530,263 | $541,481 | | Military OEM | $261,918 | $261,051 | | Commercial Aftermarket | $164,014 | $126,148 | | Military Aftermarket | $183,108 | $165,814 | | **Total Net Sales** | **$1,192,043** | **$1,130,562** | - Commercial Aftermarket sales grew **30.0%** in FY2024, driven by the continued recovery in air travel. Military Aftermarket sales increased **10.4%**[177](index=177&type=chunk)[178](index=178&type=chunk) - Operating income for FY2024 decreased to **$86.5 million** from **$195.7 million** in FY2023, largely due to a **$113.7 million** decrease in the gain recognized on the sale of assets and businesses compared to the prior year[179](index=179&type=chunk)[181](index=181&type=chunk) [Business Segment Performance](index=45&type=section&id=Business%20Segment%20Performance) Segment Net Sales (FY2024 vs. FY2023, in thousands) | Segment | FY 2024 | FY 2023 | % Change | | :--- | :--- | :--- | :--- | | Systems & Support | $1,028,425 | $919,351 | +11.9% | | Interiors | $164,440 | $211,647 | -22.3% | Segment Adjusted EBITDAP (FY2024 vs. FY2023, in thousands) | Segment | FY 2024 | FY 2023 | % Change | | :--- | :--- | :--- | :--- | | Systems & Support | $200,074 | $172,415 | +16.0% | | Interiors | $(5,000) | $31,937 | -115.7% | - Systems & Support sales grew across all end markets, driven by commercial OEM and aftermarket recovery. Its Adjusted EBITDAP increased **16.0%** due to higher sales volume[192](index=192&type=chunk)[196](index=196&type=chunk) - Interiors sales declined primarily due to divestitures and exited programs. Excluding these, sales increased **22%**. The segment's Adjusted EBITDAP turned negative due to inflationary cost pressures and unfavorable foreign exchange effects[193](index=193&type=chunk)[198](index=198&type=chunk) [Liquidity and Capital Resources](index=50&type=section&id=Liquidity%20and%20Capital%20Resources) - Cash from operating activities was **$9.4 million** in FY2024, a **$61.7 million** improvement from a **$52.3 million** use of cash in FY2023, driven by timing of receivables and payables[224](index=224&type=chunk) - Net proceeds from the sale of assets and businesses were **$713.4 million** in FY2024, principally from the sale of Product Support[226](index=226&type=chunk) - The company used proceeds from the Product Support divestiture to reduce long-term debt by **approximately $556.7 million** in March 2024, which is expected to reduce interest expense by **approximately $44.7 million** in fiscal 2025[222](index=222&type=chunk) - As of March 31, 2024, the company had **$392.5 million** of cash on hand and **approximately $44.1 million** available under its Securitization Facility[227](index=227&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=61&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company manages foreign currency risk with forward contracts, while its primary market risk stems from interest rate changes affecting fixed-rate debt - The company uses foreign currency forward contracts to hedge price risk associated with foreign-denominated payments[256](index=256&type=chunk) - The primary market risk is from interest rate changes affecting the fair value of the company's fixed-rate long-term debt, though this does not impact the financial statements as the debt is carried at amortized cost[257](index=257&type=chunk) [Financial Statements and Supplementary Data](index=62&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) This section presents consolidated financial statements and Ernst & Young's unqualified audit opinion, highlighting critical audit matters on deferred tax assets and pension obligations - The independent auditor, Ernst & Young LLP, issued an unqualified opinion on the consolidated financial statements and the company's internal control over financial reporting as of March 31, 2024[261](index=261&type=chunk)[262](index=262&type=chunk) - The audit identified two Critical Audit Matters: the realizability of deferred tax assets due to significant judgment in assessing future taxable income, and the measurement of defined benefit pension obligations due to the judgmental nature of actuarial assumptions like discount rates[266](index=266&type=chunk)[270](index=270&type=chunk) [Controls and Procedures](index=126&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management and Ernst & Young concluded that the company's disclosure controls and internal control over financial reporting were effective as of March 31, 2024 - Management concluded that the company's disclosure controls and procedures were effective as of March 31, 2024[517](index=517&type=chunk) - Based on the COSO framework, management believes the company maintained effective internal control over financial reporting as of March 31, 2024[520](index=520&type=chunk) - No changes were made to internal control over financial reporting in the fourth quarter of fiscal 2024 that materially affected, or are reasonably likely to materially affect, internal controls[534](index=534&type=chunk) Part III [Directors, Executive Officers and Corporate Governance](index=130&type=section&id=Item%2010.%20Directors%2C%20Executive%20Officers%20and%20Corporate%20Governance) Information on directors, executive officers, and corporate governance is incorporated by reference from the 2024 Proxy Statement - All information required for this item is incorporated by reference from the company's 2024 Proxy Statement[539](index=539&type=chunk) [Executive Compensation](index=130&type=section&id=Item%2011.%20Executive%20Compensation) Executive compensation information is incorporated by reference from the 2024 Proxy Statement - All information required for this item is incorporated by reference from the company's 2024 Proxy Statement[544](index=544&type=chunk) [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=130&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters) Security ownership information for beneficial owners and management is incorporated by reference from the 2024 Proxy Statement - All information required for this item is incorporated by reference from the company's 2024 Proxy Statement[545](index=545&type=chunk) [Certain Relationships and Related Transactions, and Director Independence](index=130&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions%2C%20and%20Director%20Independence) Information on related party transactions and director independence is incorporated by reference from the 2024 Proxy Statement - All information required for this item is incorporated by reference from the company's 2024 Proxy Statement[546](index=546&type=chunk) [Principal Accountant Fees and Services](index=130&type=section&id=Item%2014.%20Principal%20Accountant%20Fees%20and%20Services) Principal accountant fees and services information is incorporated by reference from the 2024 Proxy Statement - All information required for this item is incorporated by reference from the company's 2024 Proxy Statement[547](index=547&type=chunk) Part IV [Exhibits, Financial Statement Schedules](index=131&type=section&id=Item%2015.%20Exhibits%2C%20Financial%20Statement%20Schedules) This section lists all financial statements, schedules, and exhibits filed with or incorporated by reference into the Form 10-K report - This section contains a list of all financial statements, schedules, and exhibits included with or incorporated by reference into the Form 10-K filing[549](index=549&type=chunk)[550](index=550&type=chunk)