Triumph (US:TGI)2021-02-03 22:14Financial Performance - Net sales decreased to $426 million in Q3 FY'21, compared to $705 million in Q3 FY'20 [24] - Adjusted operating income was $38 million with a 9% margin in Q3 FY'21 [24] - The company generated positive free cash flow [4, 37] - Systems & Support net sales increased 37% compared to Q3 on military platforms [28] Business Segment Performance - Systems & Support (TSS) total sales decreased 21% in the quarter [15] - Military sales accounted for 56% of Systems & Support shipments [15] - Boeing commercial represents 13% and Airbus 10% of reportable backlog in TSS [15] - Aerospace Structures revenue is driven by planned completions on commercial programs combined with sustaining military production and spares [31] Strategic Initiatives - Cost reductions are on track with over $120 million in savings in FY'21 [7] - The company exited the Hawthorne, CA facility on schedule [7] - Q3 New Wins > $400M [19] Liquidity and Debt - Cash and Availability ~ $489M [35] - Net Debt is $1568 million [35]