TRIUMPH POSTPONES SECOND QUARTER FISCAL 2025 RESULTS AND INVESTOR CONFERENCE CALL TO REFLECT INTERIORS PRICE AGREEMENT WITH BOEING COMMERCIAL AIRPLANES

Rhea-AI Summary

Triumph Group (NYSE: TGI) has postponed its Q2 FY2025 earnings release and investor call from November 4 to November 12, 2024, following a favorable pricing settlement with Boeing Commercial Airplanes for its Interiors contracts. The delay will allow time to finalize the accounting for this agreement. The company anticipates updating its fiscal year 2025 guidance based on this new development.

Positive

• Favorable pricing settlement reached with Boeing Commercial Airplanes for Interiors contracts
• Potential upward revision of FY2025 guidance expected

Negative

• Delay in financial reporting indicates potential complexity in accounting adjustments

News Market Reaction – TGI

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RADNOR, Pa., Nov. 3, 2024 /PRNewswire/ -- Triumph Group, Inc. (NYSE: TGI) ("TRIUMPH" or the "Company") today announced that, as a result of a recent and favorable settlement with Boeing Commercial Airplanes related to pricing on its Interiors contracts, TRIUMPH will delay the issuance of its second quarter of fiscal 2025 results and investor conference call previously scheduled for Monday, November 4, 2024 to Tuesday, November 12, 2024 at 8:30 a.m. ET, as additional time is required to finalize the accounting for this Interiors contract.  Based on this agreement, TRIUMPH expects to update its fiscal year 2025 guidance.

About TRIUMPH 

TRIUMPH, headquartered in Radnor, Pennsylvania, designs, develops, manufactures, repairs and provided spare parts across a broad portfolio of aerospace and defense systems and components. The Company serves the global aviation industry, including original equipment manufacturers and the full spectrum of military and commercial aircraft operators.

More information about TRIUMPH can be found on the Company's website at www.triumphgroup.com.

Forward Looking Statements

Statements in this release which are not historical facts are forward-looking statements under the provisions of the Private Securities Litigation Reform Act of 1995, including statements of expectations of or assumptions about guidance, financial and operational performance, revenues, earnings per share, cash flow or use, cost savings, operational efficiencies and organizational restructurings and our evaluation of potential adjustments to reported amounts, as described above. All forward-looking statements involve risks and uncertainties which could affect the Company's actual results and could cause its actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, the Company. Further information regarding the important factors that could cause actual results to differ from projected results can be found in Triumph Group's reports filed with the SEC, including our Annual Report on Form 10-K for the fiscal year ended March 31, 2024.

 

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SOURCE Triumph Group

FAQ

Why did Triumph Group (TGI) postpone its Q2 FY2025 earnings release?

Triumph Group postponed its Q2 FY2025 earnings release to finalize accounting for a recent favorable pricing settlement with Boeing Commercial Airplanes regarding Interiors contracts.

When will Triumph Group (TGI) release its Q2 FY2025 results?

Triumph Group will release its Q2 FY2025 results on Tuesday, November 12, 2024, at 8:30 a.m. ET.

What impact will the Boeing pricing agreement have on Triumph Group (TGI)?

The Boeing pricing agreement is expected to be favorable for Triumph Group, leading to an update in the company's fiscal year 2025 guidance.