TGI - Triumph Group -20% after quarterly earnings miss weak full-year guidance

Triumph Group (NYSE:TGI) -20.2% in early trading on Wednesday after missing FQ4 adjusted earnings estimates, reporting a 17% Y/Y decline in revenues, and issuing downside guidance for FY 2023. Q4 GAAP net loss totaled $10.57M, or a $0.16/share loss, and included a $32M non-cash pension settlement charge on the partial annuitization of pension benefits; the company reported a $73.52M net loss, or a $1.27 share loss, in the year-earlier quarter. Q4 organic sales fell 2% Y/Y to $386.7M, excluding divestitures and sunsetting programs, due to declines in commercial widebody production and timing of military OEM deliveries, partially offset by increases in commercial narrowbody production. For FY 2023, Triumph (TGI) forecasts EPS of $0.40-$0.60 on revenues of $1.2B-$1.3B, well below Wall Street consensus of $1.09 EPS and revenues of $1.51B. The company also guides for full-year cash used in operations of negative $30M-$40M, and core free cash flow of breakeven to $15M.

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Triumph Group -20% after quarterly earnings miss, weak full-year guidance