TGI - Why Triumph Group Stock Is Flying High Today
2023-11-07 10:56:22 ET
Long-struggling aerospace component manufacturer Triumph Group (NYSE: TGI) reported a surprise quarterly profit and guided for stronger-than-expected full-year revenue. Investors are cheering the unexpected good news, sending Triumph shares up about 15% as of 10 a.m. ET on Tuesday.
Triumph is the market of components and subsystems for a range of military and commercial aerospace platforms. The stock has lost nearly 90% of its value over the last decade as Triumph has struggled to turn a profit on key programs and suffered other operational setbacks.
The company has slowly been trying to reshape its portfolio, including by restructuring or selling a number of unprofitable businesses . But the pandemic, supply chain disruptions, and labor shortages have hindered those efforts.
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Why Triumph Group Stock Is Flying High Today