We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Triumph Group (TGI) Q4 Earnings Beat Estimates, Sales Rise Y/Y
Read MoreHide Full Article
Triumph Group, Inc. (TGI - Free Report) reported fourth-quarter fiscal 2024 (ended Mar 31, 2024) adjusted earnings of 31 cents per share, which beat the Zacks Consensus Estimate of 12 cents by 158.3%. However, the bottom line declined by 3.1% from earnings of 32 cents per share reported in the prior-year quarter.
Including one-time adjustments, TGI reported GAAP earnings of 7 cents per share in the fourth quarter of fiscal 2024 against the loss of 37 cents in the prior-year quarter.
For the full fiscal 2024, Triumph Group reported an adjusted loss of 6 cents per share against the year-ago earnings of 51 cents.
Total Sales
Triumph Group’s net sales in the quarter under review were $358.6 million, which beat the Zacks Consensus Estimate of $337 million by 6.4%. The top line also improved 10.2% from $325.5 million in the year-ago quarter.
Triumph Group, Inc. Price, Consensus and EPS Surprise
Organic sales in the quarter were up 11% year over year. The rise was driven by rapid growth in aftermarket volume in TGI’s remaining original equipment manufacturer business.
For the fiscal year 2024, Triumph Group reported total revenues of $1.19 billion compared with $1.13 billion in fiscal 2023, which reflects a year-over-year increase of 5.4%.
Operational Highlights
In the fourth quarter of fiscal 2024, Triumph Group generated an adjusted operating income of $55.8 million, which increased 19.4% from the year-ago reported figure.
Interest expenses and others amounted to $28.7 million, down 10.3% from the prior-year quarter.
Triumph Group’s backlog was $1.9 billion, up 22% from the prior fiscal year-end, primarily driven by commercial OEM platforms.
Segmental Performance
Interiors: The segment’s sales totaled $48.5 million, up 21.6% from $39.9 million in the year-ago quarter.
Systems & Support: The segment’s sales improved 8.6% year over year to $310.1 million.
Financial Position
As of Mar 31, 2024, TGI’s cash and cash equivalents totaled $392.5 million compared with $227.4 million as of Mar 31, 2023.
Its long-term debt (excluding the current portion) amounted to $1.07 billion as of Mar 31, 2024, down from $1.69 billion as of Mar 31, 2023.
The net cash provided from operating activities as of Mar 31, 2024 was $9.4 million against a net cash outflow of $52.3 million in the year-ago period.
Triumph Group’s capital expenditures were $21.8 million as of Mar 31, 2024 compared with $20.7 million in the prior year.
Guidance
Triumph Group has initiated its financial guidance for fiscal 2025. It expects to generate net sales of nearly $1.2 billion. The Zacks Consensus Estimate for revenues is pegged at $1.26 billion, slightly above the company’s guided figure.
The company expects to generate earnings per share of 42 cents in fiscal 2025.
TGI also expects cash flow from operations in the range of $30-$50 million in fiscal 2025. Free cash flow is anticipated in the band of $10-$25 million for fiscal 2025.
RTX Corporation’s (RTX - Free Report) first-quarter 2024 adjusted earnings per share of $1.34 beat the Zacks Consensus Estimate of $1.23 by 8.9%. The bottom line also improved 9.8% from the year-ago quarter’s level of $1.22.
RTX’s first-quarter net sales were $19,305 million, which surpassed the Zacks Consensus Estimate of $18,412.6 million by 4.8%. The top line also improved 12% from $17,214 million recorded in the first quarter of 2023.
Lockheed Martin Corporation (LMT - Free Report) reported first-quarter 2024 adjusted earnings of $6.33 per share, which beat the Zacks Consensus Estimate of $5.80 by 9.1%. However, the bottom line declined 1.6% from the year-ago quarter's recorded figure of $6.43.
Its net sales were $17.20 billion, which surpassed the Zacks Consensus Estimate of $16.19 billion by 6.2%. The top line also increased 13.7% from $15.13 billion reported in the year-ago quarter.
Hexcel Corporation (HXL - Free Report) reported first-quarter 2024 adjusted earnings of 44 cents per share, which came in line with the Zacks Consensus Estimate.
In the first quarter, the company’s net sales totaled $472.3 million, which missed the Zacks Consensus Estimate of $475 million by 0.6%.However, the top line witnessed an improvement of 3.2% from the year-ago quarter’s reported figure of $457.7 million.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Triumph Group (TGI) Q4 Earnings Beat Estimates, Sales Rise Y/Y
Triumph Group, Inc. (TGI - Free Report) reported fourth-quarter fiscal 2024 (ended Mar 31, 2024) adjusted earnings of 31 cents per share, which beat the Zacks Consensus Estimate of 12 cents by 158.3%. However, the bottom line declined by 3.1% from earnings of 32 cents per share reported in the prior-year quarter.
Including one-time adjustments, TGI reported GAAP earnings of 7 cents per share in the fourth quarter of fiscal 2024 against the loss of 37 cents in the prior-year quarter.
For the full fiscal 2024, Triumph Group reported an adjusted loss of 6 cents per share against the year-ago earnings of 51 cents.
Total Sales
Triumph Group’s net sales in the quarter under review were $358.6 million, which beat the Zacks Consensus Estimate of $337 million by 6.4%. The top line also improved 10.2% from $325.5 million in the year-ago quarter.
Triumph Group, Inc. Price, Consensus and EPS Surprise
Triumph Group, Inc. price-consensus-eps-surprise-chart | Triumph Group, Inc. Quote
Organic sales in the quarter were up 11% year over year. The rise was driven by rapid growth in aftermarket volume in TGI’s remaining original equipment manufacturer business.
For the fiscal year 2024, Triumph Group reported total revenues of $1.19 billion compared with $1.13 billion in fiscal 2023, which reflects a year-over-year increase of 5.4%.
Operational Highlights
In the fourth quarter of fiscal 2024, Triumph Group generated an adjusted operating income of $55.8 million, which increased 19.4% from the year-ago reported figure.
Interest expenses and others amounted to $28.7 million, down 10.3% from the prior-year quarter.
Triumph Group’s backlog was $1.9 billion, up 22% from the prior fiscal year-end, primarily driven by commercial OEM platforms.
Segmental Performance
Interiors: The segment’s sales totaled $48.5 million, up 21.6% from $39.9 million in the year-ago quarter.
Systems & Support: The segment’s sales improved 8.6% year over year to $310.1 million.
Financial Position
As of Mar 31, 2024, TGI’s cash and cash equivalents totaled $392.5 million compared with $227.4 million as of Mar 31, 2023.
Its long-term debt (excluding the current portion) amounted to $1.07 billion as of Mar 31, 2024, down from $1.69 billion as of Mar 31, 2023.
The net cash provided from operating activities as of Mar 31, 2024 was $9.4 million against a net cash outflow of $52.3 million in the year-ago period.
Triumph Group’s capital expenditures were $21.8 million as of Mar 31, 2024 compared with $20.7 million in the prior year.
Guidance
Triumph Group has initiated its financial guidance for fiscal 2025. It expects to generate net sales of nearly $1.2 billion. The Zacks Consensus Estimate for revenues is pegged at $1.26 billion, slightly above the company’s guided figure.
The company expects to generate earnings per share of 42 cents in fiscal 2025.
TGI also expects cash flow from operations in the range of $30-$50 million in fiscal 2025. Free cash flow is anticipated in the band of $10-$25 million for fiscal 2025.
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
RTX Corporation’s (RTX - Free Report) first-quarter 2024 adjusted earnings per share of $1.34 beat the Zacks Consensus Estimate of $1.23 by 8.9%. The bottom line also improved 9.8% from the year-ago quarter’s level of $1.22.
RTX’s first-quarter net sales were $19,305 million, which surpassed the Zacks Consensus Estimate of $18,412.6 million by 4.8%. The top line also improved 12% from $17,214 million recorded in the first quarter of 2023.
Lockheed Martin Corporation (LMT - Free Report) reported first-quarter 2024 adjusted earnings of $6.33 per share, which beat the Zacks Consensus Estimate of $5.80 by 9.1%. However, the bottom line declined 1.6% from the year-ago quarter's recorded figure of $6.43.
Its net sales were $17.20 billion, which surpassed the Zacks Consensus Estimate of $16.19 billion by 6.2%. The top line also increased 13.7% from $15.13 billion reported in the year-ago quarter.
Hexcel Corporation (HXL - Free Report) reported first-quarter 2024 adjusted earnings of 44 cents per share, which came in line with the Zacks Consensus Estimate.
In the first quarter, the company’s net sales totaled $472.3 million, which missed the Zacks Consensus Estimate of $475 million by 0.6%.However, the top line witnessed an improvement of 3.2% from the year-ago quarter’s reported figure of $457.7 million.