Triumph Group Updates Financial Guidance

By Bobby Samwell • Saturday, March 09 15:18 • Permanent Link

Triumph Group, Inc. (NYSE: TGI) has updated its financial guidance for the full year fiscal 2024, ending March 31, 2024, following the recent closing on the sale of its former product support business and the related expected paydowns of its debt.

The company has reaffirmed its net sales guidance for the full year fiscal 2024 at $1.17 billion to $1.20 billion. However, there have been updates in other key metrics. The operating income guidance remains at $100.0 million to $110.0 million, while the adjusted EBITDAP (earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs) has also been reaffirmed at $157.0 million to $167.0 million.

The updated cash flow used in operations is now projected to be in the range of $(15.8) million to $(5.8) million, and the free cash use has been updated to a range of $(39.6) million to $(29.6) million.

For the implied fourth quarter fiscal 2024 guidance, net sales are expected to be within the range of $336.5 million to $366.5 million. Operating income is projected to be $58.4 million to $68.4 million, and adjusted EBITDAP is expected to be $71.0 million to $81.0 million. Notably, the cash flow from operations for the same period has been updated to a range of $52.5 million to $62.5 million, and the free cash flow is now projected to be in the range of $45.0 million to $55.0 million.

Triumph Group also provided an update on its balance sheet, indicating that it completed the call of $120.0 million of its senior secured notes due 2028, settled the asset sale tender of $1.1 million of its senior secured notes due 2028, and completed the call of the remaining $435.6 million of senior notes due 2025.

This information, along with unaudited preliminary quarterly results for continuing operations reflecting product support as discontinued operations, is available on the company’s website.

Triumph Group, headquartered in Radnor, Pennsylvania, specializes in the design, development, manufacture, repair, and overhaul of aerospace and defense systems and components. The company caters to the global aviation industry, serving original equipment manufacturers and a wide spectrum of military and commercial aircraft operators. Following these announcements, the company's shares moved -1.5%, and are now trading at a price of $14.66. If you want to know more, read the company's complete 8-K report here.

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