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Dec 31, 2022
Triumph Group Q3 2023 Earnings Report
Triumph Group reported financial results with increased sales and operating income.
Key Takeaways
Triumph Group reported a net sales of $328.9 million and an operating income of $35.0 million. The company is raising its full year guidance for net sales and adjusted earnings per share.
Net sales of $328.9 million.
Operating income of $35.0 million with operating margin of 11%.
Net income of $11.0 million, or $0.08 per diluted share.
Cash flow from operations was breakeven; free cash use of $5.0 million.
Triumph Group
Triumph Group
Forward Guidance
Triumph Group is raising its full year guidance for net sales and adjusted earnings per share while improving free cash use.
Positive Outlook
- Raising net sales to a range of $1.30 billion to $1.35 billion, up from prior guidance of approximately $1.3 billion
- Updating GAAP earnings per diluted share to a range of $1.59 to $1.79
- Raising adjusted earnings per diluted share to a range of $0.48 to $0.68, up from prior guidance of $0.40 to $0.60, on increased sales volume
- Cash used in operations of ($30.0) million to ($40.0) million
- Free cash use of ($55.0) million to ($65.0) million, improved from prior guidance of ($60.0) million to ($70.0) million
Challenges Ahead
- Updating GAAP earnings per diluted share to a range of $1.59 to $1.79, down from prior guidance of $1.66 to $1.86 due to additional share count from the warrant distribution
- Cash used in operations of ($30.0) million to ($40.0) million
- Free cash use of ($55.0) million to ($65.0) million
- Proactively pursuing comprehensive de-leveraging plan to strengthen the balance sheet
- Supply chain catches up to increasing customer demand