Triumph Group Stock Price, News & Analysis

Triumph Group, Inc. (NYSE: TGI) announced a proposed offering of $600 million in senior secured first lien notes due 2024. The notes will be guaranteed by subsidiaries securing other debt obligations. Proceeds will be utilized to repay outstanding loans, terminate its revolving credit facility, cash collateralize letters of credit, and cover accrued interest and fees. The offering will be limited to qualified institutional buyers and non-U.S. persons, without registration under the Securities Act.

Triumph Group (TGI) reported a challenging first quarter for fiscal year 2021, ending June 30, 2020, with net sales of $495.1 million, a 29% organic decline year-over-year. The company faced an operating loss of $252.4 million due to an impairment charge of the same amount, leading to a net loss of $277.3 million, or ($5.35) per share. Adjusted figures showed a net loss of $9.5 million, or ($0.19) per share. Full-year sales guidance is projected between $1.8 billion and $1.9 billion. Triumph continues to focus on cash conservation and operational efficiency amid the ongoing impacts of COVID-19.

Triumph Group, Inc. (NYSE: TGI) announced a definitive agreement to sell its G650 program operations, including supply chain management and engineering services, to Gulfstream Aerospace. This sale follows the transfer of the G650 wing assembly line to Gulfstream in 2019. The transaction is part of Triumph's strategy to exit non-core manufacturing and focus on defense programs and aftermarket services. Financial terms of the sale were not disclosed, but it is subject to customary closing conditions and is expected to finalize soon.

Triumph Group, Inc. (NYSE:TGI) has entered a definitive agreement to sell its composites operations to Arlington Capital Partners. This includes locations in Milledgeville, Georgia, and Rayong, Thailand. The move supports Triumph's strategic review to enhance liquidity and reduce debt, aiming to position the company as a leading provider of aerospace systems and services. The business spans 800,000 square feet and employs approximately 600 people, serving key programs for major clients like Boeing and Airbus. The transaction is expected to close in FY21's second quarter.

Triumph Group [NYSE:TGI] announced a new partnership with Global Aerospace Logistics (GAL) on July 30, 2020. The agreement focuses on providing maintenance, repair, and overhaul (MRO) services for over 200 aircraft components, including valves, pumps, and actuators, for military aircraft serviced by GAL in the Middle East. Triumph aims to enhance operational support through its extensive network of 12 repair stations. This collaboration reflects Triumph's commitment to delivering high-quality MRO solutions to the aerospace and defense sectors.

Triumph Group, Inc. (NYSE: TGI) will announce its first quarter fiscal year 2021 earnings on August 4, 2020, followed by a conference call at 5:30 p.m. ET. Investors can access the call via the company's website.

A replay will be available two hours post-broadcast and remain accessible for 90 days. Triumph Group, based in Berwyn, Pennsylvania, focuses on the design, engineering, manufacturing, repair, and overhaul of aerospace and defense systems, catering to the global aviation market.

Triumph Group announced the appointment of Tom Blakely as Chief Technology Officer, effective immediately. Reporting to Nick Drazic, Blakely brings over four decades of experience in military and commercial aircraft development. He will lead Triumph's Innovation and Technology Council and manage R&D efforts across the company's 36 factories. His previous roles include Deputy Head of Engineering at Mitsubishi Heavy Industries and extensive experience at Lockheed Martin. This strategic hire aims to enhance Triumph's focus on proprietary components and services for military and commercial platforms.

Triumph Group [NYSE: TGI] has secured a five-year contract from Bell Textron for the supply of mechanical flight controls for various commercial helicopter models including the Bell 429, 412, and 407. This contract is an indefinite delivery/indefinite quantity (ID/IQ) award starting this year. The work will be conducted at Triumph's facilities in North Wales, Pennsylvania, and Shelbyville, Indiana, through 2024. Triumph aims to maintain its strong supplier relationship with Bell, enhancing its position in the aerospace sector and exploring growth opportunities in additional markets.

Triumph Group, Inc. (NYSE:TGI) announced that its Grand Prairie, Texas facility has achieved AS9110 certification for aerospace maintenance, repair, and overhaul (MRO) management systems. This certification confirms compliance with FAA and EASA regulations, indicating Triumph's commitment to safety and product quality. The Grand Prairie site is one of six certified Triumph facilities, enhancing the company’s ability to provide comprehensive repair and overhaul support for various aircraft accessories. Triumph operates 14 repair stations catering to military and commercial clients.