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Last $53.85 USD
Change Today -0.13 / -0.24%
Volume 808.0K
TGI On Other Exchanges
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As of 8:04 PM 07/31/15 All times are local (Market data is delayed by at least 15 minutes).

triumph group inc (TGI) Key Developments

Triumph Group Announces Unaudited Earnings Results for the First Quarter Ended June 30, 2015; Provides Earnings Guidance for the Full Fiscal Year 2016

Triumph Group announced unaudited earnings results for the first quarter ended June 30, 2015. For the quarter, the company reported Net sales for the first quarter were $959.6 million, up 7% from the prior year period, although organic sales declined 10%, reflecting lower deliveries on key Aerostructures programs. Operating income for the quarter was $107.9 million, which included approximately $2.9 million of a onetime noncash curtailment charge related to a favorable amendment to pension plan included in the recently ratified UAW collective bargaining agreement at Marshall Street facility outside Dallas. Excluding this charge, operating income was $110.7 million, reflecting an operating margin of 11.5%, and net income was $64.6 million, resulting in earnings of $1.31 per diluted share. Adjusted EBITDA for the quarter was $119.2 million, resulting in a 12.9% adjusted EBITDA margin and includes a reduction of $22 million for the amortization of acquired contracts associated with the Gulfstream 650 and 280 wing programs for which previously received an upfront cash payment of $160 million. Capital spending in the quarter was $18 million, and net debt at the end of the first quarter was $1.5 billion, representing 40.5% of total capital. Income from continuing operations pre-tax- gaap was $89,750,000 against $198,164,000 a year ago. Income from continuing operations after tax- gaap was $62,732,000 or $1.27 diluted per share against $128,243,000 or $2.27 diluted per share a year ago. Adjusted income from continuing operations pre-tax- non-gaap was $92,613,000 against $94,818,000 a year ago. Adjusted income from continuing operations after tax- non-gaap was $64,599,000 or $1.31 diluted per share against $62,101,000 or $1.19 diluted per share a year ago. Cash used in operations was $148,544,000 against $52,052,000 a year ago. The company expects the global effective tax rate for the full fiscal year 2016 to be approximately 34%, which still assumes that the R&D tax credit is not renewed. For fiscal 2016 guidance, company’s top line guidance of $3.9 billion to $4 billion reflects roughly a 5% decline in organic revenue, with Aerospace Systems and Aftermarket segments growing organically at roughly a 5% rate, while Aerostructures segment is shrinking organically at roughly a 10% rate. Free cash flow generation available for share repurchase, debt reduction and acquisitions for the year is projected as $125 million to $150 million. Key elements assumed in cash flow guidance are capital spending of $120 million to $140 million; net spending on development programs of $80 million to $100 million; cash use associated with the G650 and G280 programs of between $60 million and $80 million and with the 747-8 program of approximately $20 million; and a cash tax rate of 10%.

Triumph Group, Inc. appoints Dawne S. Hickton to its Board of Directors

Triumph Group, Inc. announced that Dawne S. Hickton has been elected to its board of directors, effective immediately. Hickton is the Vice Chair, President and Chief Executive Officer of RTI International Metals, Inc. and has served on its board since 2007. She was recently appointed to the board of directors of the Smithsonian National Air and Space Museum, and serves on the board of the Wings Club.

Triumph Group Declares Quarterly Dividend Payable on September 15, 2015

Triumph Group, Inc. announced that its Board of Directors has declared a regular quarterly dividend of $0.04 per share on its outstanding common stock. The dividend is payable September 15, 2015 to shareholders of record as of September 1, 2015.

Triumph Group, Inc. to Report Q1, 2016 Results on Jul 29, 2015

Triumph Group, Inc. announced that they will report Q1, 2016 results at 9:00 AM, Eastern Standard Time on Jul 29, 2015

Triumph Group, Inc., Q1 2016 Earnings Call, Jul 29, 2015

Triumph Group, Inc., Q1 2016 Earnings Call, Jul 29, 2015

 

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TGI

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Valuation TGI Industry Range
Price/Earnings 15.6x
Price/Sales 0.7x
Price/Book 1.2x
Price/Cash Flow 7.9x
TEV/Sales 0.3x
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