Triumph Group Q3 2020 Earnings Report
Key Takeaways
Triumph Group reported strong third quarter results with organic revenue up 8% year-over-year, driven by increased volume on Airbus commercial programs and aftermarket demand for military rotorcraft components and engine mounted accessories. Free cash flow was positive for the quarter.
Net sales of $704.7 million.
Operating income of $1.7 million with operating margin of 0.2%; adjusted operating income of $64.0 million with adjusted operating margin of 9.1%.
Net loss of ($13.8) million, or ($0.27) per share; adjusted net income of $35.4 million, or $0.69 per diluted share.
Cash flow provided by operations of $49.9 million, and free cash flow of $39.6 million.
Triumph Group
Triumph Group
Forward Guidance
The Company continues to expect that net sales for fiscal year 2020 will be approximately $2.8 billion to $2.9 billion. The Company has narrowed its expected GAAP fiscal year 2020 earnings per diluted share from a range of $1.34 to $2.35 to a range of $1.28 to $1.48 and adjusted earning per diluted share from a range of $2.35 to $2.95 to a range of $2.35 to $2.55.
Positive Outlook
- Net sales of between $2.8 billion to $2.9 billion.
- GAAP earnings per diluted share of between $1.28 and $1.48.
- Adjusted earnings per diluted share of between $2.35 to $2.55.
- Positive free cash flow of between $0 to $50.0 million.