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Dec 31, 2020
Triumph Group Q3 2021 Earnings Report
Reported positive free cash flow and maintained full-year fiscal 2021 net sales guidance.
Key Takeaways
Triumph Group reported a decrease in net sales due to planned reductions on sunsetting and transitioned programs and the impacts of the COVID-19 pandemic. The company reported an operating loss, but adjusted operating income was positive. They maintained their full-year fiscal 2021 net sales guidance.
Net sales of $426.0 million.
Operating loss of $35.0 million with operating margin of (8%); adjusted operating income of $38.1 million with adjusted operating margin of 9%.
Net loss of $68.1 million, or ($1.30) per share; adjusted net income of $4.9 million, or $0.09 per diluted share.
Cash flow provided by operations of $43.9 million; free cash flow of $37.7 million.
Triumph Group
Triumph Group
Forward Guidance
The Company continues to expect that net sales for fiscal year 2021 will be approximately $1.8 to $1.9 billion. The Company expects cash flow to be break even to positive in the fourth quarter of the fiscal year. Therefore, the Company expects cash used in operations and free cash use for the full fiscal year to be on par or moderately lower than the first nine months.
Positive Outlook
- Net sales for fiscal year 2021 expected to be approximately $1.8 to $1.9 billion.
- Cash flow expected to be break even to positive in the fourth quarter of the fiscal year.
- Cash used in operations and free cash use for the full fiscal year expected to be on par or moderately lower than the first nine months.