Fri, May 31, 8:47 PM (143 days ago)
Triumph Group, Inc. filed its annual 10-K report for the fiscal year ending March 31, 2024. Key financial highlights include a 5.4% increase in net sales to $1.19 billion and an operating income of $86.5 million. However, the company reported a net loss from continuing operations of $34.5 million, translating to a loss of $0.46 per diluted share. The net income, including discontinued operations, was $512.4 million or $6.92 per diluted share, driven by a $548.3 million gain from the sale of its Product Support operations. The company’s backlog increased by 22% to $1.90 billion, indicating strong future demand. The divestiture of Product Support and subsequent debt reduction improved the financial condition, reducing long-term debt by $556.7 million. Triumph Group also redeemed $120 million of its 2028 First Lien Notes in May 2024, aiming to reduce interest expenses. Despite these positive developments, the company faces risks such as reliance on key customers like Boeing, exposure to interest rate fluctuations, and competitive pressures in the aerospace industry. The company’s strategic focus includes optimizing its asset base and maintaining a strong market position in aerospace systems and support.