TGI - Triumph Group jumps after quarterly results beat estimates
2023-05-17 13:15:59 ET
Triumph Group ( NYSE: TGI ) on Wednesday surged as much as 18% to a two-month high of $12.36 a share after the maker of aircraft and defense parts and systems reported stronger-than-expected results and provided upbeat guidance for the year.
The company reported a net loss of $17.5 million, or $0.27 a share, for fiscal Q4, compared with a loss of $10.6 million, or $0.16 a share, a year earlier.
Excluding one-items such as $31.6 million to pay down debt and $14.6 million in pension-settlement charges, adjusted EPS was $0.39 a share, beating the average estimate among Wall Street analysts $0.25 a share.
Sales rose 1.7% to $393.3 million from $386.7 million a year earlier, while the consensus estimate was for sales of $349.1 million.
Triumph ( TGI ) forecast full-year sales of $1.39 billion to $1.43 billion, a 7% to 10% gain by organic metrics that don’t include the effect of acquisitions and divestitures. The company reported sales of $1.38 billion in fiscal 2023.
Analysts expect Triumph ( TGI ) to see fiscal 2024 sales of $1.4 billion.
The company estimated it will generate $60 million to $80 million in cash flow from operations on capital expenditures of $25 million to $30 million for fiscal 2024. Analysts expect cash flow from operations of $75.1 million and capital expenditures of $31.4 million for the period.
"Triumph ( TGI ) ended our fiscal year 2023 on an upswing and exceeded both our net sales and our adjusted earnings per share guidance and successfully extending our debt maturities to enhance liquidity and financial flexibility," Dan Crowley, the company’s hairman, president and CEO, said in a statement.
Before today, Triumph's ( TGI ) stock had fallen by 49% in the prior 12-month period.
Seeking Alpha contributor Jeremy LaKosh rates Triumph Group ( TGI ) as a Hold because of its risk versus reward . Contributor Normad Capital has a Hold rating on Triumph Group ( TGI ) based on debt and pension issues .
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Triumph Group jumps after quarterly results beat estimates