Triumph Group, Inc. (NYSE: TGI) has reported its financial results for the first quarter of fiscal 2025, ending on June 30, 2024. The company's net sales for this period were $281.0 million, reflecting a 7% increase from the same period last year. Operating income was reported at $8.1 million, with an operating margin of 3%. Adjusted operating income was $17.2 million, with an adjusted operating margin of 6%. However, the company reported a net loss from continuing operations of ($18.8) million, or $(0.24) per share, with an adjusted net loss from continuing operations of ($4.3) million, or $(0.06) per share.
Triumph expects net sales for fiscal 2025 to be approximately $1.2 billion, with operating income of approximately $132.5 million, reflecting an operating margin of 11%, adjusted EBITDAP of approximately $182.0 million, and earnings per diluted share of approximately $0.33, and adjusted earnings per diluted share of approximately $0.52. The company anticipates cash flow from operations of $30.0 million to $50.0 million and free cash flow of $10.0 million to $25.0 million.
In the first quarter of fiscal 2025, Triumph's commercial aftermarket sales from its IP-based business grew by more than 42%, offsetting temporary commercial OEM and supply chain headwinds. However, the interiors business saw decreased sales due to reduced 737MAX shipments, impacting its profit and cash flow.
The breakdown of revenue for the three months ended June 30, 2024, compared to the same period in 2023, showed that commercial OEM sales increased by 1.4%, while commercial aftermarket sales increased by 42.6%. Military OEM sales decreased by 6.0%, and military aftermarket sales increased by 11.4%. Additionally, non-aviation sales remained stable.
The company reported a backlog of $1.87 billion, down 2% from the prior fiscal year end, primarily due to changes in the timing of deliveries under the Boeing 737MAX program, offset by increases in Airbus A320 family orders.
Triumph's cash flow used in operations for the first quarter of fiscal 2025 was $104.5 million, in line with previous expectations.
The company will hold a conference call on August 7th to discuss the first quarter results, and the presentation will be available on the company's website.
Triumph Group, Inc., based in Radnor, Pennsylvania, is involved in designing, developing, manufacturing, repairing, and providing spare parts for aerospace and defense systems and components globally.
This article does not include disclaimers, terms and conditions, warnings, website links, sources, or contact information. Following these announcements, the company's shares moved -14.8%, and are now trading at a price of $13.08. For the full picture, make sure to review Triumph's 8-K report.
