TGI - Triumph Group Inc. (TGI) Q3 2024 Earnings Call Transcript

2024-02-07 14:09:09 ET

Triumph Group, Inc. (TGI)

Q3 2024 Earnings Conference Call

February 7, 2024 08:30 AM ET

Company Participants

Thomas Quigley - VP, IR, Mergers & Acquisitions and Treasurer

Daniel Crowley - Chairman, President & CEO

James McCabe - SVP & CFO

Conference Call Participants

Seth Seifman - JPMorgan

Sheila Kahyaoglu - Jefferies

Peter Arment - Baird

Myles Walton - Wolfe Research

Michael Ciarmoli - Truist Securities

Cai von Rumohr - TD Cowen

David Strauss - Barclays

Ronald Epstein - Bank of America

Presentation

Operator

Welcome to Triumph Group's Third Quarter Fiscal Year 2024 Results Conference Call. All participants will be in listen-only mode. [Operator Instructions] Please note this event is being recorded.

I would now like to introduce Tom Quigley, Triumph's Vice President of Investor Relations. Please go ahead.

Thomas Quigley

Thank you. Good morning and welcome to our third quarter fiscal 2024 earnings call. Today, I'm joined by Dan Crowley, the company's Chairman, President, and Chief Executive Officer; and Jim McCabe, Senior Vice President and Chief Financial Officer of Triumph. As we review the financial results for the quarter, please refer to the presentation posted on our website this morning.

We'll discuss our adjusted results. Our adjustments and any reconciliation of non-GAAP financial measures to comparable GAAP measures are explained in the earnings press release and in the presentation. Certain statements on this call constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.

These forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause Triumph's actual results, performance or achievements to be materially different from any expected future results, performance or achievements expressed or implied in the forward-looking statements.

Dan, I'll turn it over to you.

Daniel Crowley

Thanks Tom and welcome to Triumph's third quarter call. I'll open my remarks by covering the strategic action we took with the product support sale and the significant benefits it will provide.

And Jim and I will discuss our Q3 performance and the primary factors impacting our results and our expectations for record Q4 results to end the fiscal year on an upswing. I'll wrap up with the growth drivers, which instill confidence in our multiyear outlook.

Overall, I'm excited about Triumph's future and our ability to deliver expanding levels of profitability and cash flow. This is our first opportunity to discuss the recently announced sale of our product support business, which remains on track to close this quarter.

For Triumph, this is a game-changing transaction, one that will provide both financial and strategic benefits. During our September 2023 Investor Day, we communicated Triumph's priorities and path to accelerating value creation in line with our stakeholder priorities....

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