Shares of Triumph Group saw a boost on Tuesday as the aerospace supplier raised its full-year guidance and reported earnings that surpassed expectations.
Strong Growth:
- The stock climbed 14% to $8.89, but remains down 15% for the year.
- Triumph Group has revised its full-year sales guidance to $1.43 billion to $1.47 billion, up from the previous estimate of $1.39 billion to $1.43 billion.
- The company reported better-than-expected adjusted earnings of 1 cent per diluted share for the second quarter before the market opened. Analysts had predicted a loss of 1 cent per share.
- Sales for the quarter-ended Sept. 30 reached $354.1 million, surpassing Wall Street estimates of $337.5 million.
Positive Outlook:
“We are entering the second half of the year from a position of strength,” stated Chief Executive Daniel Crowley during a conference call with analysts. “Our year-to-date performance, increasing commercial aircraft build rates, and growth in defense spending support our updated outlook for the year.”
The positive outcome from Triumph Group’s latest performance is a testament to their solid position in the market and their ability to leverage rising build rates in commercial aircraft and defense spending.
