Welcome to our dedicated page for Triumph Group news (Ticker: TGI), a resource for investors and traders seeking the latest updates and insights on Triumph Group stock.
Triumph Group, Inc. (historically NYSE: TGI) has generated a steady flow of news related to its role in the aerospace and defense sector and its corporate transformation from a public company to a privately held business. Company press releases and SEC filings describe Triumph as a Radnor, Pennsylvania-based manufacturer that designs, develops, manufactures, repairs and overhauls a broad portfolio of aerospace and defense systems, subsystems, components and spare parts for OEMs and military and commercial aircraft operators worldwide.
News coverage for Triumph has included quarterly and annual financial results, where the company reported net sales, operating income and performance across commercial OEM, military OEM, commercial aftermarket, military aftermarket and non-aviation revenue categories. These releases have highlighted trends in aftermarket demand, OEM production volumes and backlog, as well as the company’s focus on IP-based OEM and aftermarket business and efforts to improve its Interiors operations.
Operational updates have featured program and contract announcements, such as Triumph Systems, Electronics and Controls extending and expanding its role as a strategic supplier to BAE Systems and the U.S. Army on the M777 Lightweight Howitzer platform, and Triumph Actuation Products and Services reporting record aftermarket shipments in support of Boeing 787 and Airbus A380 landing gear overhaul activity. Additional news has covered partnerships involving advanced manufacturing technologies, including collaboration with Divergent Technologies to qualify manned aircraft components produced using the Divergent Adaptive Production System.
Corporate and capital markets news has focused on Triumph’s acquisition by affiliates of Warburg Pincus and Berkshire Partners, the related merger agreement, and subsequent steps to delist its common stock from the New York Stock Exchange and terminate SEC registration. Updates from S&P Dow Jones Indices have also noted Triumph’s removal from the S&P SmallCap 600 index in connection with this transaction. Investors and observers using this news feed can review historical earnings releases, program announcements, partnership news and transaction-related disclosures to understand Triumph’s evolution and its position in aerospace and defense supply chains.
Triumph Group reported its fourth quarter and full fiscal year 2021 results on May 20, 2021. For the fourth quarter, the company recorded net sales of $466.8 million and a net loss of $73.5 million or ($1.27) per share. Despite the losses, Triumph achieved positive free cash flow in the second half of the year and continued its portfolio transformation, exiting several programs. The backlog stands at $1.9 billion. Due to COVID-19 uncertainties, no financial guidance was provided for fiscal year 2022.
Triumph Group (NYSE: TGI) announced contract extensions with Boeing Commercial Airplanes, securing its position as a top-tier supplier for hydraulic components across multiple Boeing programs. The agreements encompass Triumph's Actuation Products & Services, which will manufacture components at U.S. sites, including hydraulic actuation for landing gear and thrust reverser doors for single aisle platforms. The Valencia site achieved a Silver Delivery Rating from Boeing, reflecting a positive outlook for commercial aviation recovery. Triumph aims to enhance revenue and profitability through its proprietary solutions.
Triumph Group (NYSE:TGI) announced a seven-year agreement with Collins Aerospace for repair services on environmental control system components. Triumph Product Support in Wellington, Kansas will handle repairs for parts such as air cycle machines and refrigeration packages across various platforms. President Jim Berberet emphasized Triumph's capability in providing seamless maintenance, repair, and overhaul (MRO) services to original equipment manufacturers and airline carriers. This positions Triumph as a significant player in the global aerospace MRO market.
Triumph Group [NYSE:TGI] announced the completion of the sale of three Aerostructures sites to Arlington Capital Partners, effective May 7, 2021. The sale includes Triumph Composites operations in Milledgeville, Georgia; Rayong, Thailand; and Red Oak, Texas, totaling approximately 1.8 million square feet and 900 employees. The Triump Composites provide composite fabrications across various aviation platforms. Arlington plans to continue operations under the name Qarbon Aerospace, retaining existing leadership and staff.
Triumph Group, Inc. (NYSE: TGI) will announce its fourth quarter fiscal year 2021 earnings on May 20, 2021, followed by a conference call at 8:30 a.m. ET. Investors can access a slide presentation and audio webcast during the call. For those unable to attend, a replay will be available two hours post-broadcast for 90 days. Triumph Group specializes in designing, engineering, and manufacturing a wide range of aerospace and defense systems, catering to both military and commercial sectors.
Triumph Group, Inc. (NYSE: TGI) has appointed William "Bill" Mansfield as the new Lead Independent Director, effective July 21, 2021, succeeding Gen. Ralph Eberhart. Mansfield, a board member since 2012 and current Chair of the Finance Committee, brings extensive experience from his past leadership roles. Eberhart will continue as a director, providing valuable insights. Colleen Repplier will replace him as Chair of the Finance Committee. Triumph’s leadership emphasizes a commitment to strong corporate governance and driving shareholder value amidst ongoing industry challenges.
Triumph Group [NYSE:TGI] announced that its Triumph Aviation Services Asia Ltd. has signed a memorandum of understanding with Thai Aviation Industries Co., Ltd. (TAI), a certified repair station under the Civil Aviation Authority of Thailand. This MOU aims to enhance cooperation on training, business development, and maintenance services, including aircraft maintenance for Diamond DA40 and DA62. The partnership is expected to leverage the strengths of both companies in the Asia-Pacific region, marking a significant milestone for TASA and TAI.
Triumph Group and Air France Industries KLM Engineering & Maintenance have announced a joint venture to enhance nacelle maintenance, repair, and overhaul services for next-generation aircraft at Triumph's facility in Hot Springs, Arkansas. This partnership, stemming from their collaboration in June 2019, aims to provide global MRO support to operators in North and South America. The agreement is pending regulatory approval and is expected to help both companies capitalize on the recovery of the aviation industry post-COVID-19.
Triumph Group announced a new contract with Boeing to maintain ground support equipment (GSE) for the KC-46 program at Boeing's Wichita facility. This contract, extending through October 2023, highlights Triumph's ongoing commitment to supporting military aircraft operations. The Wellington, Kansas-based team will enhance its offering, building on over 15 years of experience servicing Boeing GSE at the Port San Antonio location. This expansion signifies Triumph's strategic role in maintaining aircraft readiness and operational efficiency.
Triumph Group, Inc. (NYSE:TGI) announced an exclusive distribution agreement with VSE Aviation on February 22, 2021, to provide over 1,600 original equipment spare parts for Boeing and Airbus platforms. This partnership enables commercial operators to access Triumph's landing gear components, enhancing their aftermarket needs. VSE will manage the supply of more than 150 line-replaceable units and provide global support through distribution centers in the Americas, Europe, and Asia. This agreement strengthens their long-standing collaboration established in 2013.
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