Triumph Group Inc · Q1 2022 earnings

Briefing

Reported solid first quarter results with organic net sales up 11% and improved profitability on an adjusted basis.

Triumph Group reported first quarter fiscal year 2022 results with net sales of $396.7 million and an operating income of $20.8 million. The company's organic net sales increased by 11% compared to the prior year, driven by increased demand in commercial aviation. The company provided full fiscal year 2022 guidance.

• Net sales of $396.7 million.
• Operating income of $20.8 million with operating margin of 5%; adjusted operating income of $31.3 million with adjusted operating margin of 8%.
• Net loss of $30.4 million, or ($0.47) per share; adjusted net income of $5.9 million, or $0.09 per diluted share.
• Cash flow used in operations of $149.5 million; free cash use of $151.6 million.

Headline financials

Revenue & EPS history

The Company expects net sales for fiscal year 2022 will be approximately $1.5 billion to $1.6 billion. The Company expects GAAP fiscal year 2022 earnings per diluted share to be ($0.15) to $0.05 and adjusted earnings per diluted share to be $0.41 to $0.61. The Company expects fiscal year 2022 cash used in operations of $110.0 million to $125.0 million and free cash use to be $135.0 million to $150.0 million. The company expects to be cash flow positive over the balance of the fiscal year.