TGI - Why Shares of Triumph Group Are Plunging Today
Long-struggling Triumph Group (NYSE: TGI) put out a full-year forecast that came in well short of analyst expectations. Investors are running for the exits as a result, with the shares down as much as 27% on Wednesday morning.
Triumph is a manufacturer of a range of components focused primarily on the commercial and military aerospace markets. The company is a longtime turnaround story, with its shares down more than 70% over the past decade. Triumph has spent the last few years trying to restructure or sell unprofitable businesses, but the pandemic and its impact on commercial aviation has stunted its progress.
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Why Shares of Triumph Group Are Plunging Today