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Rhea-AI Summary
Triumph Group, Inc. updates financial guidance for fiscal year 2024, reaffirming net sales of $1.17-1.20 billion, operating income of $100-110 million, and adjusted EBITDAP of $157-167 million. The company completed debt paydowns and asset sales, impacting cash flows and free cash use.
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-4.5%
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AAR Corp. (NYSE: AIR) completes the acquisition of Triumph Group's Product Support business for $725 million. The acquisition is funded by a $550 million notes offering and an amendment to AAR's revolving credit facility. This acquisition enhances AAR's repair capabilities, expands its global footprint, and adds expertise to serve its customers.
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-0.24%
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Triumph Group, Inc. (TGI) completes the sale of its Product Support business to AAR CORP. for $725 million, expecting net proceeds of $700 million. The move aims to reduce debt and focus on OEM component, spares, and IP-based aftermarket business for profitable growth. TRIUMPH will operate as a value-added and IP-based business in aerospace and adjacent markets.
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Triumph Group, Inc. (TGI) secures a long-term agreement with MD Helicopters for manufacturing main rotor gearbox transmissions for the MD500 platforms, continuing a 20-year partnership. The contract extension highlights Triumph's commitment to supplying helicopter transmissions and spare parts, supporting MD Helicopters' fleet of 1,700 helicopters. This collaboration signifies growth opportunities in the helicopter market and showcases Triumph's expertise in aerospace gear solutions.
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-3.63%
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Triumph Group, Inc. initiates an Asset Sale Offer to purchase up to $580 million of its outstanding 9.000% Senior Secured First Lien Notes due 2028, using proceeds from the sale of its product support business. Holders can tender their Notes for cash consideration, with an early tender deadline of March 4, 2024, and an Expiration Date of March 18, 2024. The Offer includes Asset Sale Consideration of $1,000 per $1,000 principal amount of Notes and Tender Offer Consideration of $990 per $1,000 principal amount of Notes. Holders may also receive Accrued Interest. The Company issued a notice of conditional redemption for $120 million of Notes, with a redemption price of 103.00% of the principal amount. The redemption is dependent on the Sale's completion. Holders should review the Offer to Purchase for complete terms and conditions.
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End-of-Day
-2.98%
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AAR Corp. announces successful pricing of $550 million senior notes offering to fund Triumph Group's Product Support business acquisition, with an increase in aggregate lending commitments under the Revolving Credit Facility.
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2.78%
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AAR Corp. (AIR) plans to offer $500 million in senior notes due 2029 to fund the acquisition of Triumph Group's Product Support business. The company will also increase its revolving credit facility to at least $795 million. The Notes will be unconditionally guaranteed by the company's subsidiaries.
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End-of-Day
6.68%
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Triumph Group, Inc. reported financial results for Q3 of fiscal 2024, with net sales of $285.0 million and operating income of $19.7 million. The company updated its fiscal 2024 guidance, reflecting 11 - 14% organic growth in net sales and operating income in the range of $100.0 million to $110.0 million. The sale of the Product Support business is expected to accelerate deleveraging progress. Despite lower than planned earnings and cash due to industry-wide supply chain constraints, the company anticipates a strong Q4 with deferred deliveries and improving mix.
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-17.03%
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Triumph Group, Inc. (TGI) has secured a five-year contract from an Asia Pacific operator for maintenance, repair, and overhaul (MRO) services for CF6-80C2 nacelles over multiple Boeing fleets in Chonburi, Thailand. The contract signifies confidence in Triumph's extensive experience and cost-effective repairs. Triumph's third-party MRO business, TRIUMPH Product Support, offers total life cycle solutions for commercial, regional, and military aircraft, including repair of aircraft structures, nacelles, and engine and aircraft accessories and components.
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-17.03%
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Triumph Group, Inc. (TGI) has secured a five-year contract with the United States Army to upgrade the EMC32T Hydraulic Metering Assembly (HMA) fuel control on the T55 engines, supporting the CH-47 Chinook helicopter fleet. The contract involves overhauling over 100 EMC32T HMAs per year from 2024 through 2028. This contract is part of the U.S. Army's Component Improvement Program (CIP) and strengthens Triumph's partnership with the military.
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0.18%
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Triumph Group, Inc.
NYSE:TGI
TGI Rankings
TGI Stock Data
1.09B
69.89M
1.86%
95.22%
7.64%
Other Aircraft Parts and Auxiliary Equipment Manufacturing
Manufacturing
United States of America
RADNOR
About TGI
triumph group, inc., headquartered in berwyn, pennsylvania, is a global leader in manufacturing and overhauling aerospace structures, systems and components. operating in 70 locations worldwide, triumph designs, engineers, manufactures, repairs and overhauls a broad portfolio of aerostructures, aircraft components, accessories, subassemblies and systems. triumph consists of 47 highly specialized manufacturing companies, organized into three groups: aerostructures, aerospace systems, and aftermarket services. our operations touch virtually all major players and all current and future aviation platforms. triumph serves a broad, worldwide spectrum of the industry, including original equipment manufacturers (oems) of commercial, regional, business and military aircraft and aircraft components, as well as commercial and regional airlines and air cargo carriers. triumph participates at all levels of the aerospace supply chain – from single components to complex aerostructures and their