Announcement • Feb 04
Warburg Pincus LLC and Berkshire Partners LLC entered into a definitive agreement to acquire Triumph Group, Inc. (NYSE:TGI) for $2.1 billion. Warburg Pincus LLC and Berkshire Partners LLC entered into a definitive agreement to acquire Triumph Group, Inc. (NYSE:TGI) for $2.1 billion on February 2, 2025. Under the terms of the agreement, Triumph shareholders will receive $26.00 per share in cash. Upon completion of the transaction, Triumph Group will become a privately held Company, jointly controlled by Warburg Pincus and Berkshire Partners. Upon completion of the transaction, Triumph will no longer be traded on the New York Stock Exchange. In case of termination, Triumph Group will be required to pay Warburg Pincus and Berkshire Partners a termination fee of $80 million. The merger agreement also contains reverse termination fee where Warburg Pincus and Berkshire Partners will be required to pay a fee of $135 million. The transaction is subject to customary closing conditions, including approval by Triumph shareholders and the receipt of approvals, or the expiration or termination of waiting periods (and any extension thereof), under certain regulatory laws or from certain regulatory authorities (including the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and certain other regulatory processes under applicable foreign direct investment and competition laws). The transaction is not contingent upon financing. Triumph's Board of Directors unanimously approved the definitive agreement. The board of directors of Warburg Pincus LLC and Berkshire Partners LLC also approved the agreement. The transaction is expected to close in the second half of calendar year 2025. Goldman Sachs & Co. LLC is serving as exclusive financial advisor as well as fairness opinion provider and Marie L. Gibson of Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal counsel to Triumph. Lazard is serving as financial advisor and Jai Agrawal, Marshall P. Shaffer and Daniel Yip of Kirkland & Ellis LLP and Covington & Burling LLP are acting as legal counsel to Berkshire Partners and Warburg Pincus. Announcement • Jan 27
Triumph Group, Inc. to Report Q3, 2025 Results on Feb 10, 2025 Triumph Group, Inc. announced that they will report Q3, 2025 results on Feb 10, 2025 Announcement • Nov 13
Triumph Group, Inc. Revises Earnings Guidance for the Fiscal 2025 Triumph Group, Inc. revised earnings guidance for the fiscal 2025. For the period, the company expects net sales of approximately $1.2 billion, operating income of approximately $140.5 million to $145.5 million, reflecting operating margin of 12%, and earnings per diluted share to a range of $0.47 to $0.53, and adjusted earnings per diluted share to a range of $0.70 - $0.76. Announcement • Oct 22
Triumph Group, Inc. to Report Q2, 2025 Results on Nov 04, 2024 Triumph Group, Inc. announced that they will report Q2, 2025 results on Nov 04, 2024 Announcement • Oct 12
Triumph Group Reportedly Explores Potential Sale Triumph Group, Inc. (NYSE:TGI) is exploring options including a sale of the company, in what would be the latest in a string of deals involving aerospace and defense manufacturers, according to people familiar with the situation. Triumph, an aircraft components maker, is working with a financial adviser to solicit acquisition interest from strategic buyers as well as private equity firms, said the people, who asked not to be identified discussing confidential matters. Deliberations are in the early stage and the company could decide to remain independent, the people said. A representative for Triumph declined to comment. Board Change • Aug 31
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Director Mark Cherry was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Aug 21
Triumph Group, Inc. Appoints Mark Cherry as Independent Director Triumph Group, Inc. announced that Mark C. Cherry was elected to the Board of Directors as an independent director at its Annual Meeting of Stockholders on August 8, 2024. Mr. Cherry currently serves as Chief Executive Officer of Align Precision Group, a manufacturer of precision-milled structural components for the Aerospace, Defense, and Semi-Conductor industries. Mr. Cherry previously worked at Boeing, serving as Vice President and General Manager of Vertical Lift from April 2021 to December 2022 and Vice President and General Manager of Phantom Works from November 2017 to April 2021. From September 2012 to November 2017, he was President and Chief Operating Officer at Aurora Flight Sciences. He previously held leadership roles at Sikorsky Aircraft, Teradyne, and the Boston Consulting Group. Mr. Cherry received a Bachelor of Science in Engineering Mechanics from the United States Air Force Academy, a Master of Science in Aeronautical and Systems Engineering from the Air Force Institute of Technology, and a Master of Business Administration from Stanford University. Announcement • Aug 07
Triumph Group, Inc. Revises Earnings Guidance for the Fiscal 2025 Triumph Group, Inc. revised earnings guidance for the fiscal 2025. The company expects net sales of approximately $1.2 billion, operating income of approximately $132.5 million, reflecting operating margin of 11%, updated from prior guidance due to $7.5 million in legal contingencies loss, and earnings per diluted share of approximately $0.33. Board Change • Jul 29
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Patrick Allen was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Jul 24
Triumph Group, Inc. to Report Q1, 2025 Results on Aug 07, 2024 Triumph Group, Inc. announced that they will report Q1, 2025 results on Aug 07, 2024 Announcement • Jul 20
Triumph Announces Executive Changes Triumph Group, Inc. recently selected Mike Boland, formerly President, Actuation Products and Services (APS), to fill a newly created Chief Operating Officer with responsibility for Operations, Quality, Execution Assurance, and the TRIUMPH Operating System. Mike also assumes responsibility for the Supply Chain function formerly led by Craig Cooper. Natasha Trudeau, previously General Manager, TRIUMPH APS at Yakima, Washington assumed the role of President, Actuation Products and Services as Mike transitioned to the COO new role. Announcement • Jun 26
Triumph Group, Inc., Annual General Meeting, Aug 08, 2024 Triumph Group, Inc., Annual General Meeting, Aug 08, 2024. Announcement • Jun 02
Triumph Group, Inc. announced delayed annual 10-K filing On 05/31/2024, Triumph Group, Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Reported Earnings • May 24
Full year 2024 earnings released: US$0.47 loss per share (vs US$1.38 profit in FY 2023) Full year 2024 results: US$0.47 loss per share (down from US$1.38 profit in FY 2023). Revenue: US$1.19b (down 14% from FY 2023). Net loss: US$34.5m (down 139% from profit in FY 2023). Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Aerospace & Defense industry in Germany. Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • May 24
Triumph Group, Inc. Provides Earnings Guidance for the Fiscal 2025 Triumph Group, Inc. provides earnings guidance for the fiscal 2025. For the period, the company expects net sales of approximately $1.2 billion. Operating income of approximately $140.0 million, reflecting operating margin of 12%. Earnings per diluted share of approximately $0.42. Announcement • May 15
Triumph Group, Inc. to Report Q4, 2024 Results on May 23, 2024 Triumph Group, Inc. announced that they will report Q4, 2024 results on May 23, 2024 Announcement • Mar 09
Triumph Group, Inc. Reaffirms Earnings Guidance for the Full Fiscal Year Ending March 31, 2024 Triumph Group, Inc. reaffirmed earnings guidance for the full fiscal year ending March 31, 2024. For the full fiscal year 2024, the company reaffirmed net sales guidance in the range of $1.17 billion to $1.20 billion, operating income in the range of $100.0 million to $110.0 million. Reported Earnings • Feb 08
Third quarter 2024 earnings released: US$0.15 loss per share (vs US$0.17 profit in 3Q 2023) Third quarter 2024 results: US$0.15 loss per share (down from US$0.17 profit in 3Q 2023). Revenue: US$285.0m (down 13% from 3Q 2023). Net loss: US$11.9m (down 209% from profit in 3Q 2023). Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Aerospace & Defense industry in Germany. Over the last 3 years on average, earnings per share has increased by 112% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Feb 07
Triumph Group, Inc. Provides Earnings Guidance for the Year 2024 Triumph Group, Inc. provided earnings guidance for the year 2024. For the year, the company is updating net sales to a range of $1.17 billion to $1.20 billion, reflecting 11% - 14% organic growth, and updating operating income to a range of $100.0 million to $110.0 million, reflecting operating margin of 9%. Announcement • Jan 23
Triumph Group, Inc. to Report Q3, 2024 Results on Feb 07, 2024 Triumph Group, Inc. announced that they will report Q3, 2024 results on Feb 07, 2024 Announcement • Nov 09
Triumph Group, Inc. Provides Earnings Guidance for the Fiscal 2024 Triumph Group, Inc. provided earnings guidance for the fiscal 2024. For the year, company expects organic growth of 10% to 13% in fiscal '24, with revenue in the range of $1.43 billion to $1.47 billion and sales guidance to a range of $216 million to $231 million. Board Change • Nov 09
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Patrick Allen was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Oct 20
Triumph Group, Inc. to Report Q2, 2024 Results on Nov 07, 2023 Triumph Group, Inc. announced that they will report Q2, 2024 results on Nov 07, 2023 Announcement • Aug 12
Triumph Group, Inc. Revises Earning Guidance for the Year Fiscal 2024 Triumph Group, Inc. revised earning guidance for the year fiscal 2024. For the year, the company expects operating income from the previously stated range of $159.0 million to $174.0 million, to an updated range of $150.0 million to $165.0 million. Announcement • Aug 10
Triumph Group, Inc. announced delayed 10-Q filing On 08/09/2023, Triumph Group, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Reported Earnings • Aug 03
First quarter 2024 earnings released: US$0.19 loss per share (vs US$0.16 loss in 1Q 2023) First quarter 2024 results: US$0.19 loss per share (further deteriorated from US$0.16 loss in 1Q 2023). Revenue: US$327.1m (down 6.4% from 1Q 2023). Net loss: US$12.8m (loss widened 23% from 1Q 2023). Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Aerospace & Defense industry in Germany. Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Announcement • Aug 03
Triumph Group, Inc. Reaffirms Earnings Guidance for the Fiscal 2024 Triumph Group, Inc. reaffirmed earnings guidance for the fiscal 2024. The company reaffirms expected net sales of $1.39 billion to $1.43 billion, reflecting 7 - 10% organic growth. Updated operating income of $159.0 million to $174.0 million, reflecting operating margin of 11 - 12%. Board Change • Aug 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Patrick Allen was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Jul 13
Triumph Group, Inc. to Report Q1, 2024 Results on Aug 02, 2023 Triumph Group, Inc. announced that they will report Q1, 2024 results on Aug 02, 2023 New Risk • Jul 12
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 19% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.2x net interest cover). Negative equity (-US$797m). High level of non-cash earnings (28% accrual ratio). Minor Risk Shareholders have been diluted in the past year (19% increase in shares outstanding). Board Change • Jul 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Ed Eberhart was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Jun 12
Triumph Group, Inc., Annual General Meeting, Jul 20, 2023 Triumph Group, Inc., Annual General Meeting, Jul 20, 2023, at 09:00 US Eastern Standard Time. Agenda: To elect nine nominees for director for the coming year; to ratify the selection of Ernst & Young LLP as company's independent registered public accounting firm for the fiscal year ending March 31, 2024; to approve, by advisory vote, the compensation paid to company's named executive officers for fiscal year 2023; to approve the frequency of future advisory votes on executive compensation; to approve an amendment to company's Amended and Restated Certificate of Incorporation to increase company's authorized shares of common stock from 100,000,000 to 200,000,000 shares; to approve an amendment to company's Amended and Restated Certificate of Incorporation to limit the liability of certain officers of the Company as permitted by recent amendments to the General Corporation Law of the State of Delaware; and to consider other matters. Board Change • Jun 12
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Voting Board Observer Patrick Allen was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • May 24
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €11.10, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 20x in the Aerospace & Defense industry in Germany. Total returns to shareholders of 50% over the past three years. Reported Earnings • May 18
Full year 2023 earnings released: EPS: US$1.38 (vs US$0.66 loss in FY 2022) Full year 2023 results: EPS: US$1.38 (up from US$0.66 loss in FY 2022). Revenue: US$1.38b (down 5.5% from FY 2022). Net income: US$89.6m (up US$132.4m from FY 2022). Profit margin: 6.5% (up from net loss in FY 2022). Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Aerospace & Defense industry in Germany. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Announcement • May 18
Triumph Group, Inc. Provides Earnings Guidance for the Fiscal Year 2024 Triumph Group, Inc. provided earnings guidance for the fiscal year 2024. For the year, the company expected net sales of $1.39 billion to $1.43 billion and operating income of $165.0 million to $180.0 million. Recent Insider Transactions • Mar 15
Chairman of the Board recently bought €104k worth of stock On the 13th of March, Daniel Crowley bought around 10k shares on-market at roughly €10.36 per share. This transaction amounted to 1.5% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Daniel's only on-market trade for the last 12 months. Buying Opportunity • Mar 03
Now 21% undervalued Over the last 90 days, the stock is up 8.2%. The fair value is estimated to be €14.61, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 30% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 6.3% per annum. Earnings is forecast to decline by 1.4% per annum over the same time period. Reported Earnings • Feb 02
Third quarter 2023 earnings released: EPS: US$0.17 (vs US$0.11 in 3Q 2022) Third quarter 2023 results: EPS: US$0.17 (up from US$0.11 in 3Q 2022). Revenue: US$328.9m (up 3.0% from 3Q 2022). Net income: US$11.0m (up 51% from 3Q 2022). Profit margin: 3.3% (up from 2.3% in 3Q 2022). Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Aerospace & Defense industry in Germany. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Announcement • Feb 02
Triumph Group, Inc. Updates Earnings Guidance for the Year of 2023 Triumph Group, Inc. Updates its earnings guidance for the year of 2023. For the year, the company raised net sales to a range of $1.30 billion to $1.35 billion, up from prior guidance of approximately $1.3 billion GAAP earnings per diluted share to a range of $1.59 to $1.79, down from prior guidance of $1.66 to $1.86 due to additional share count from the warrant distribution. Announcement • Jan 20
Triumph Group, Inc. to Report Q3, 2023 Results on Feb 01, 2023 Triumph Group, Inc. announced that they will report Q3, 2023 results at 9:30 AM, US Eastern Standard Time on Feb 01, 2023 Buying Opportunity • Jan 05
Now 21% undervalued Over the last 90 days, the stock is up 3.4%. The fair value is estimated to be €12.06, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 31% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 6.4% per annum. Earnings is forecast to decline by 3.1% per annum over the same time period. Buying Opportunity • Dec 16
Now 21% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be €13.14, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 31% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 6.4% per annum. Earnings is forecast to decline by 3.1% per annum over the same time period. Reported Earnings • Nov 09
Second quarter 2023 earnings released: EPS: US$1.64 (vs US$0.14 loss in 2Q 2022) Second quarter 2023 results: EPS: US$1.64 (up from US$0.14 loss in 2Q 2022). Revenue: US$307.6m (down 14% from 2Q 2022). Net income: US$106.5m (up US$115.6m from 2Q 2022). Profit margin: 35% (up from net loss in 2Q 2022). Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Aerospace & Defense industry in Germany. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. Announcement • Nov 09
Triumph Group, Inc. Provides Earnings Guidance for the Fiscal Year 2023 Triumph Group, Inc. provided earnings guidance for the fiscal year 2023. For the year, the company expected net sales of approximately $1.3 billion and GAAP earnings per diluted share of $1.66 to $1.86. Announcement • Oct 20
Triumph Group, Inc. to Report Q2, 2023 Results on Nov 08, 2022 Triumph Group, Inc. announced that they will report Q2, 2023 results on Nov 08, 2022 Announcement • Sep 28
Triumph Group, Inc. Appoints Cynthia M. Egnotovich as Independent Director Triumph Group, Inc. announced that Cynthia M. Egnotovich has joined its Board of Directors as an independent director, effective September 22, 2022. With this addition, TRIUMPH's board has expanded to nine directors, eight of whom are independent, and five of whom have been appointed to the Board in the last five years. Ms. Egnotovich most recently served as President of Aerospace Systems Customer Service at United Technologies Corporation ("UTC"), a multinational conglomerate until her retirement in November 2013. Prior to joining UTC, she held various leadership roles of increasing significance at Goodrich Corporation, an aerospace manufacturer which was acquired by UTC in 2012. Ms. Egnotovich is an experienced director, currently serving also on the Board of Directors of Hexcel Corporation, an industrial materials company, since January 2015. She served as Chair and member of the Board of Directors of Welbilt, Inc., a global manufacturer of food service equipment, from 2016 until July of 2022, when it was acquired by Ali Holding S.r.l. From 2008 to 2016, she served on the Board of Directors of The Manitowoc Company. Ms. Egnotovich received a Bachelor of Science in Biology from Immaculata University and a Bachelor of Business Administration in Accounting from Kent State University.