Shares of Triumph Group, Inc. (TGI - Free Report) declined 1.7% to $22.56 on Nov 11, since the company’s second-quarter fiscal 2022 results.
Triumph Group reported second-quarter fiscal 2022 (ended Sep 30, 2021) adjusted earnings of 10 cents per share, which surpassed the Zacks Consensus Estimate of 7 cents by 42.9%. The bottom line marked a significant improvement from the year-ago quarter’s loss of 8 cents per share.
Including one-time adjustments, the company incurred a GAAP loss of 14 cents per share in the fiscal second quarter compared with a loss of 64 cents in the prior-year quarter.
Total Sales
Triumph Group’s net sales in the quarter under review were $357.4 million, which missed the Zacks Consensus Estimate of $377 million by 5.3%. The top line declined 25.8% from $481.8 million in the year-ago quarter.
After taking into account the impact of the divestitures and sunsetting programs, organic sales in the quarter were down 2% year over year primarily due to declines in commercial widebody production.
Triumph Group, Inc. Price, Consensus and EPS Surprise
Operational Highlights
In second-quarter fiscal 2022, Triumph Group generated adjusted operating income of $28 million, which improved 30.8% from the year-ago reported figure. Adjusted operating margin of 7.8% expanded 340 basis points from 4.4% in the second quarter of fiscal 2021.
Interest expenses and other amounted to $34.2 million, down 34.9% from the prior-year quarter.
Triumph Group’s backlog was $1.94 billion, up 5% on a sequential basis from $1.90 billion.
Segmental Performance
Aerospace Structures: Segment sales totaled $108.6 million, down 52.5% from $228.8 million in the year-ago quarter. The segment reported operating income of $3.6 million in second-quarter fiscal 2022.
Systems & Support: Segment sales declined 2.1% year over year to $248.8 million. Operating income was $38.1 million in second-quarter fiscal 2022.
Financial Position
As of Sep 30, 2021, Triumph Group’s cash and cash equivalents totaled $194.1 million, compared with $589.9 million as of Mar 31, 2021.
Its long-term debt (excluding current portion) amounted to $1.61 billion as of Sep 30, 2021, compared with $1.95 billion as on Mar 31, 2021.
Net cash used in operating activities in the first half of fiscal 2022 was $185.5 million compared with net cash outflow of $239.7 million in the same period last year.
Triumph Group’s capital expenditures were $7.5 million in the first six months of fiscal 2022 compared with $12.8 million in the prior-year period.
Guidance
Triumph Group updated its financial guidance for fiscal 2022. The company now anticipates generating adjusted earnings per share in the range of 68-88 cents per share, up from the prior guidance of 41-61 cents. The Zacks Consensus Estimate for earnings is pegged at 49 cents, which lies much below the newly guided range.
TGI continues to expect net sales of $1.5-$1.6 billion in fiscal 2022. The Zacks Consensus Estimate for revenues of $1.57 billion lies above the mid-point of the new guidance range.
Zacks Rank
Triumph Group currently carries a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Defense Releases
Curtiss-Wright(CW - Free Report) reported third-quarter 2021 adjusted earnings of $1.88 per share, which surpassed the Zacks Consensus Estimate of $1.80 by 4.4%. Curtiss-Wright total sales exceeded the Zacks Consensus Estimate of $601 million by 3.3%.
Curtiss-Wright updated its financial guidance for 2021 and now expects adjusted earnings to be $7.20-$7.35 per share, compared with the prior guidance of $7.15-$7.35 per share. In the last six months, Curtiss-Wright stock has returned 4.9%.
Raytheon Technologies’ (RTX - Free Report) third-quarter 2021 adjusted earnings per share (EPS) of $1.26 outpaced the Zacks Consensus Estimate of $1.07 by 17.8%. Raytheon Technologies’ third-quarter sales of $16,213 million missed the Zacks Consensus Estimate of $16,494 million by 1.7%.
Raytheon Technologies raised the earnings guidance range for 2021 and tweaked revenue expectations. The company currently projects adjusted EPS to be $4.10-$4.20, compared with the earlier guidance of $3.85-$4.00. It expects to record revenues worth approximately $64.50 billion compared with its earlier projection of $64.4-$65.4 billion.In the last six months, shares of Raytheon Technologies have appreciated 6.2%.
Hexcel Corporation(HXL - Free Report) reported third-quarter 2021 adjusted earnings of 13 cents per share, which exceeded the Zacks Consensus Estimate of 8 cents by 62.5%. Net sales for Hexcel Corporation totaled $333.8 million, which missed the Zacks Consensus Estimate of $353 million by 5.3%.
Hexcel refrains from providing financial guidance citing the market uncertainties stemming from the global pandemic. The Zacks Consensus Estimate for 2021 has increased 13.6% to 25 cents per share in the last 60 days. Shares of Hexcel have returned 20.5% in the last six months.
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Shares of Triumph Group, Inc. (TGI - Free Report) declined 1.7% to $22.56 on Nov 11, since the company’s second-quarter fiscal 2022 results.
Triumph Group reported second-quarter fiscal 2022 (ended Sep 30, 2021) adjusted earnings of 10 cents per share, which surpassed the Zacks Consensus Estimate of 7 cents by 42.9%. The bottom line marked a significant improvement from the year-ago quarter’s loss of 8 cents per share.
Including one-time adjustments, the company incurred a GAAP loss of 14 cents per share in the fiscal second quarter compared with a loss of 64 cents in the prior-year quarter.
Total Sales
Triumph Group’s net sales in the quarter under review were $357.4 million, which missed the Zacks Consensus Estimate of $377 million by 5.3%. The top line declined 25.8% from $481.8 million in the year-ago quarter.
After taking into account the impact of the divestitures and sunsetting programs, organic sales in the quarter were down 2% year over year primarily due to declines in commercial widebody production.
Triumph Group, Inc. Price, Consensus and EPS Surprise
Operational Highlights
In second-quarter fiscal 2022, Triumph Group generated adjusted operating income of $28 million, which improved 30.8% from the year-ago reported figure. Adjusted operating margin of 7.8% expanded 340 basis points from 4.4% in the second quarter of fiscal 2021.
Interest expenses and other amounted to $34.2 million, down 34.9% from the prior-year quarter.
Triumph Group’s backlog was $1.94 billion, up 5% on a sequential basis from $1.90 billion.
Segmental Performance
Aerospace Structures: Segment sales totaled $108.6 million, down 52.5% from $228.8 million in the year-ago quarter. The segment reported operating income of $3.6 million in second-quarter fiscal 2022.
Systems & Support: Segment sales declined 2.1% year over year to $248.8 million. Operating income was $38.1 million in second-quarter fiscal 2022.
Financial Position
As of Sep 30, 2021, Triumph Group’s cash and cash equivalents totaled $194.1 million, compared with $589.9 million as of Mar 31, 2021.
Its long-term debt (excluding current portion) amounted to $1.61 billion as of Sep 30, 2021, compared with $1.95 billion as on Mar 31, 2021.
Net cash used in operating activities in the first half of fiscal 2022 was $185.5 million compared with net cash outflow of $239.7 million in the same period last year.
Triumph Group’s capital expenditures were $7.5 million in the first six months of fiscal 2022 compared with $12.8 million in the prior-year period.
Guidance
Triumph Group updated its financial guidance for fiscal 2022. The company now anticipates generating adjusted earnings per share in the range of 68-88 cents per share, up from the prior guidance of 41-61 cents. The Zacks Consensus Estimate for earnings is pegged at 49 cents, which lies much below the newly guided range.
TGI continues to expect net sales of $1.5-$1.6 billion in fiscal 2022. The Zacks Consensus Estimate for revenues of $1.57 billion lies above the mid-point of the new guidance range.
Zacks Rank
Triumph Group currently carries a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Defense Releases
Curtiss-Wright(CW - Free Report) reported third-quarter 2021 adjusted earnings of $1.88 per share, which surpassed the Zacks Consensus Estimate of $1.80 by 4.4%. Curtiss-Wright total sales exceeded the Zacks Consensus Estimate of $601 million by 3.3%.
Curtiss-Wright updated its financial guidance for 2021 and now expects adjusted earnings to be $7.20-$7.35 per share, compared with the prior guidance of $7.15-$7.35 per share. In the last six months, Curtiss-Wright stock has returned 4.9%.
Raytheon Technologies’ (RTX - Free Report) third-quarter 2021 adjusted earnings per share (EPS) of $1.26 outpaced the Zacks Consensus Estimate of $1.07 by 17.8%. Raytheon Technologies’ third-quarter sales of $16,213 million missed the Zacks Consensus Estimate of $16,494 million by 1.7%.
Raytheon Technologies raised the earnings guidance range for 2021 and tweaked revenue expectations. The company currently projects adjusted EPS to be $4.10-$4.20, compared with the earlier guidance of $3.85-$4.00. It expects to record revenues worth approximately $64.50 billion compared with its earlier projection of $64.4-$65.4 billion.In the last six months, shares of Raytheon Technologies have appreciated 6.2%.
Hexcel Corporation(HXL - Free Report) reported third-quarter 2021 adjusted earnings of 13 cents per share, which exceeded the Zacks Consensus Estimate of 8 cents by 62.5%. Net sales for Hexcel Corporation totaled $333.8 million, which missed the Zacks Consensus Estimate of $353 million by 5.3%.
Hexcel refrains from providing financial guidance citing the market uncertainties stemming from the global pandemic. The Zacks Consensus Estimate for 2021 has increased 13.6% to 25 cents per share in the last 60 days. Shares of Hexcel have returned 20.5% in the last six months.
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