TGI - Why Aerospace Company Triumph Shares Are Tumbling Today | Benzinga
Triumph Group Inc (NYSE:TGI) shares are trading lower after the company reported below-consensus third-quarter results and cut the FY24 outlook.
Sales of $285.0 million (+13% Y/Y organically) missed the consensus of $368.4 million. The company reported an adjusted EPS loss of $(0.16), missing the consensus of $0.14.
Adjusted operating income was $19.8 million (vs. $24.4 million a year ago), with an adjusted operating margin of 6.9%, down from 9.3%.
Adjusted EBITDAP fell to $27.7 million from $32.6 million in the prior year quarter, and the margin contracted to 9.8% from 12.5% a year ago.
Operating cash flow stood at ...