TGI - Triumph Group soars 14% post Q3 results reaffirms FY21 sales guidance

Triumph Group ([[TGI]] +14.0%) Q3 sales were down 39.5% Y/Y to $426M, driven by planned reductions on sunsetting and transitioned programs, impacts of the COVID-19 pandemic and resulting production rate decreases.Net loss of $68.1M vs. $13.21M a year ago; and on adjusted basis net income was $5M.Sales by segments: Systems & Support $264.12M (-22.1% Y/Y); and Aerospace Structures $162.41M (-55.9% Y/Y).Reported operating loss of $34.97M, compared to profit of $1.66M a year ago.Q3 Adj. EBITDAP declined by 32% Y/Y to $49.25M; and margin improved 130 bps to 11.6%.Cash flow provided by operations of $43.9M for the quarter compared to $49.88M a year ago; and free cash flow of $37.7M.FY21 Outlook: Company expects net sales to be ~$1.8B to $1.9B vs. consensus of $1.86B; and expects cash flow to be break even to positive in 4Q21.Previously: Triumph EPS beats by $0.15, misses on revenue (Feb. 3)

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Triumph Group soars 14% post Q3 results, reaffirms FY21 sales guidance