Triumph Group Q2 2023 Earnings Report
Key Takeaways
Triumph Group reported second quarter fiscal year 2023 results with net sales of $307.6 million and operating income of $132.2 million. Net income was $106.5 million, or $1.63 per diluted share. The company generated double-digit organic sales growth in continuing operations and is on track to positive free cash flow in the second half of FY23 and beyond.
Net sales of $307.6 million.
Operating income of $132.2 million with operating margin of 43%; adjusted operating income of $30.4 million with adjusted operating margin of 10%.
Net income of $106.5 million, or $1.63 per diluted share; adjusted net income of $4.8 million, or $0.07 per diluted share.
Cash flow used in operations of $19.3 million; free cash use of $23.5 million.
Triumph Group
Triumph Group
Forward Guidance
The Company expects net sales for fiscal 2023 will be approximately $1.3 billion. The Company expects GAAP fiscal 2023 earnings per diluted share of $1.66 to $1.86 and adjusted earnings per diluted share of $0.40 to $0.60, up from prior guidance due to final pension assumptions. The Company expects fiscal 2023 cash used in operations of ($30.0) million to ($40.0) million, approximately $30.0 million for capital expenditures, resulting in expected free cash use of ($60.0) million to ($70.0) million.
Positive Outlook
- Net sales of approximately $1.3 billion
- GAAP earnings per diluted share of $1.66 to $1.86
- Adjusted earnings per diluted share of $0.40 to $0.60
- Cash used in operations of ($30.0) million to ($40.0) million
- Free cash use of ($60.0) million to ($70.0) million