Triumph Group Inc · Q1 2023 earnings

Briefing

Reported first quarter fiscal 2023 results and updated fiscal 2023 sales & earnings guidance.

Triumph Group reported a net sales of $349.4 million and an operating income of $14.7 million for the first quarter of fiscal 2023. The company's adjusted operating income was $32.6 million. The company expects net sales for fiscal 2023 will be approximately $1.3 billion.

• Net sales of $349.4 million
• Operating income of $14.7 million with operating margin of 4%; adjusted operating income of $32.6 million with adjusted operating margin of 9%
• Net loss of $10.3 million, or ($0.16) per share; adjusted net income of $7.5 million, or $0.12 per diluted share
• Cash flow used in operations of $93.0 million; core cash used in operations of $72.0 million

Headline financials

Revenue & EPS history

The Company expects net sales for fiscal 2023 will be approximately $1.3 billion. The Company expects GAAP fiscal 2023 earnings per diluted share of $1.51 to $1.71. The Company expects adjusted earnings per diluted share of $0.28 - $0.48, down $0.12 due to a reduction in non-cash pension income. The Company expects fiscal 2023 cash used in operations of ($30.0) million to ($40.0) million, including core cash flow from operations of approximately $30.0 million to $45.0 million and core free cash flow of approximately break-even to $15.0 million.